Planet Green Holdings Corp. 10-K

ITEM 2. PROPERTIES Our primary facilities, which are owned except where otherwise indicated, are as follows: Facility Location Approximate Size (Square Meters) Owned or Leased Xianning Bozhuang * Xianning City, Hubei Province, PRC 33,333 Land Use Rights Obtained Jingshan Sanhe ** Jingshan City, Hubei Province, PRC 11,018 Leased Shandong Yunchu*** Qingdao City, Shandong Province 178 Leased * Became a VIE in May 2019 and became a subsidiary in August 2021. ** Became a subsidiary in September 2021. *** Become a subsidiary in December 2021. In the aggregate, we currently have land use rights to, or lease, 4 properties with approximately 44,529 square meters, consisting of manufacturing facilities and office buildings for future expansion. We believe our current facilities provide adequate capacity for our current and projected needs. All land in China is owned by the government. Individuals and companies are permitted to acquire land use rights for specific purposes. In the case of land used for industrial purposes, the land use rights are granted for a period of up to 50 years. This period may be renewed at the expiration of the initial and any subsequent terms. Granted land use rights are transferable and may be used as security for borrowings and other obligations.