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Construction in Progress
 12 Months Ended
Dec. 31, 2017
Construction in Progress [Text Block]
10.

Construction in Progress

Construction in progress as of September 30, 2016, December 31, 2016 and 2017 consisted of the following:

 

   September 30,     December 31,     December 31,  

 

   2016     2016     2017  

Construction in progress

 $ 32,139,329   $ 33,277,338   $ 24,288,889  

Prepayment for acquisition of property, plant and equipment

   182,585     179,705     740,401  

Carrying amount

 $ 32,321,914   $ 33,457,043   $ 25,029,290  

Construction in progress as of September 30, 2016, December 31, 2016 and 2017 mainly comprised capital expenditures for the construction of the facilities and production lines of CBAK Power.

For the year ended September 30, 2016, three months ended December 31, 2016 and year ended December 31, 2017, the Company capitalized interest of $1,046,302, $365,863 and $1,406,456, respectively, to the cost of construction in progress, at the capitalization rate of 7.73%, 7.23% and 7.22% respectively.