INVENTORIES

9 Months Ended

Sep. 30, 2023

INVENTORIES [Abstract]

INVENTORIES

NOTE 5 - INVENTORIES

Inventories are summarized as follows:

	September 30, 2023		December 31, 2022
Raw material	$	10,887,735	$	9,311,419
Work-in-progress		689,410		290,220
Goods in transit		3,071,554		2,364,136
Finished goods		28,433,073		19,877,596
Inventories	$	43,081,772	$	31,843,371

For the nine months ended September 30, 2023 and 2022, the impairment loss recognized by the Company for slow-moving inventory with cost lower than net realizable value was nil and $587,027, respectively.