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INVENTORIES

12 Months Ended

Dec. 31, 2011

4. INVENTORIES

Inventories consist of the following:


	December 31,
	2010		2011
Raw materials	$	2,256,367	$	2,405,734
Work-in-process		4,924,174		4,598,613
Finished goods		4,059,221		17,171,762

Inventories	$	11,239,762	$	24,176,109

Inventory write-down was $nil, $nil and $14,252,701 for the years ended December 31, 2009, 2010 and 2011, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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