Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 5 INTANGIBLE ASSETS

Land use rights

In 2006, the Company obtained a fifty-year land use right on 112,442 square meters of land in the Nanjing Jiangning Economic and Technological Development Zone.

In 2014, the Company obtained a fifty-year land use right on 23,333 square meters of land in the Suzhou Kunshan Jinxi Tower Jinxing Road.

In 2015, the Company obtained a fifty-year land use right on 33,427 square meters of land in the Tianjin Wuqing Development Zone.

Land use rights at December 31, 2021 and 2020 consisted of the following:

	2021			2020
	(In thousands of U.S. Dollars)
Land use rights	$	5,857		$	5,727
Less: accumulated amortization		(1,381	)		(1,321	)
Land use rights, net	$	4,476		$	4,406

Amortization expense was $0.12 million and $0.11 million for the years ended December 31, 2021 and 2020, respectively. Future expected amortization expense for land use rights is approximately $0.12 million for each of the next five years.