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Inventories
6 Months Ended
Jun. 30, 2024
Inventories [Abstract]  
Inventories
5.Inventories

 

Inventories as of December 31, 2023 and June 30, 2024 consisted of the following:

 

   December 31,   June 30, 
   2023   2024 
Raw materials  $3,779,414   $4,122,605 
Work in progress   9,525,568    11,877,962 
Finished goods   20,108,440    15,226,264 
   $33,413,422   $31,226,831 

 

During the three months ended June 30, 2023 and 2024, write-downs of obsolete inventories to lower of cost or net realizable value of $595,300 and $1,454,678, respectively, were charged to cost of revenues.

 

During the six months ended June 30, 2023 and 2024, write-downs of obsolete inventories to lower of cost or net realizable value of $1,574,933 and $1,993,561, respectively, were charged to cost of revenues.