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Inventories
6 Months Ended
Jun. 30, 2023
Inventories [Abstract]  
Inventories

4. Inventories

 

Inventories as of December 31, 2022 and June 30, 2023 consisted of the following:

 

   December 31,   June 30, 
   2022   2023 
Raw materials  $7,101,426   $4,143,855 
Work in progress   17,274,033    12,574,906 
Finished goods   25,070,832    25,099,899 
   $49,446,291   $41,818,660 

 

During the three months ended June 30, 2022 and 2023, write-downs of obsolete inventories to lower of cost or net realizable value of $493,136 and $595,300, respectively, were charged to cost of revenues.

 

During the six months ended June 30, 2022 and 2023, write-downs of obsolete inventories to lower of cost or net realizable value of $899,288 and $1,574,933, respectively, were charged to cost of revenues.