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Inventories
3 Months Ended
Mar. 31, 2024
Inventories [Abstract]  
Inventories
5.Inventories

 

Inventories as of December 31, 2023 and March 31, 2024 consisted of the following:

 

   December 31,   March 31, 
   2023   2024 
Raw materials  $3,779,414   $3,927,649 
Work in progress   9,525,568    10,862,287 
Finished goods   20,108,440    13,470,404 
   $33,413,422   $28,260,340 

 

During the three months ended March 31, 2023 and 2024, write-downs of obsolete inventories to lower of cost or net realizable value of $979,633 and $538,883, respectively, were charged to cost of revenues.