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INVENTORIES

12 Months Ended

Dec. 31, 2012

INVENTORIES

Inventories consisted of the following:

	As of December 31,
	2011		2012
	RMB		RMB
Raw materials		85,429,622		80,712,251
Work-in-progress		161,793,585		92,719,649
Finished goods		550,852,122		354,530,478
Total		798,075,329		527,962,378

Write-down of the carrying amount of inventory to its estimated market value was RMB29,602,473, RMB201,662,101 and RMB332,337,477 for the years ended December 31, 2010, 2011 and 2012, respectively, and were recorded as cost of revenues in the consolidated statements of operations. Inventories are pledged as collateral for the Group's borrowings (Note 17).

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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