v3.26.1
Inventories, Net
 3 Months Ended
Mar. 31, 2026
Inventories, Net [Abstract]  
INVENTORIES, NET

5. INVENTORIES, NET

 

Inventories, net consisted of the following:

 

    March 31,
2026		     December 31,
2025		  
Raw materials   $ 80,537,827     $ 37,247,442  
Finished goods     29,685,596       17,247,048  
Goods in transit     4,244,636       25,491,587  
Total inventories, net   $ 114,468,059     $ 79,986,077  

 

For the three months ended March 31, 2026 and 2025, the Company provided inventory write-down of $3,834,172 and $2,774,284, respectively, against finished goods, because the carrying amount of certain finished goods were below net realizable value.