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Inventories
6 Months Ended
Jun. 30, 2025
Inventories [Abstract]  
Inventories
5.Inventories

 

Inventories as of December 31, 2024 and June 30, 2025 consisted of the following:

 

   December 31,   June 30, 
   2024   2025 
Raw materials  $3,538,167   $8,266,528 
Work in progress   5,034,330    10,621,027 
Finished goods   14,278,530    18,555,588 
   $22,851,027   $37,443,143 

 

During the three months ended June 30, 2024 and 2025 write-downs of obsolete inventories to lower of cost or net realizable value of $1,454,678 and $1,645,314, respectively, were charged to cost of revenues.

 

During the six months ended June 30, 2024 and 2025, write-downs of obsolete inventories to lower of cost or net realizable value of $1,993,561 and $2,579,738, respectively, were charged to cost of revenues.