XML 100 R54.htm IDEA: XBRL DOCUMENT v3.20.1
Concentrations and Credit Risk (Tables)
12 Months Ended
Dec. 31, 2019
Concentrations and Credit Risk [Abstract]  
Schedule of revenue by major customers by reporting segments

   Year ended   Year ended 
   December 31,
2018
   December 31,
2019
 
Customer A  $6,330,608    25.91%  $7,222,245    32.54%
Customer B   3,807,854    15.58%   *    * 
Customer D   *    *    3,308,638    14.91%
Zhengzhou BAK Battery Co., Ltd (a)   *    *    3,961,050    17.85%

 

* Comprised less than 10% of net revenue for the respective period.
Schedule of accounts receivable by major customer

    December 31,
2018
    December 31,
2019
 
Customer A   $ 1,769,416       11.49 %   $ 1,725,293       21.93 %
Customer B     4,283,023       27.82 %     *         *
Customer C     2,293,257       14.89 %     *         *
Customer D     *       *       1,713,628       21.78 %
Customer E     *       *       902,309       11.47 %
Customer F     *       *       830,821       10.56 %
Schedule of net purchase by suplier
  Year ended   Year ended 
   December 31,
2018
   December 31,
2019
 
Supplier A  $3,719,739    16.73%  $*    * 
Supplier B   *    *    2,920,966    21.40%
Zhengzhou BAK New Energy Vehicle Co., Ltd (b)   *    *    3,812,819    27.93%

 

* Comprised less than 10% of net purchase for the respective period.
Schedule of accounts payable by suplier

    December 31,
2018
    December 31,
2019
 
Supplier C     2,962,247       12.80 %     *       *  
Supplier D     *       *       1,126,582       10.10 %

Schedule of transactions with the former subsidiaries
   December 31, 2018   December 31, 2019 
Purchase of inventories from        
BAK Tianjin  $716,997   $- 
BAK Shenzhen(b)   107,280    63,950 
Zhengzhou BAK Battery Co., Ltd (a)   2,032,756    - 
Zhengzhou BAK New Energy Vehicle Co., Ltd (b)   -    3,812,819 
           
Net sales of finished goods to          
BAK Tianjin   36,766    - 
BAK Shenzhen   -    526,719 
Zhengzhou BAK Battery Co., Ltd (a)   -    3,961,050 
           
Proceeds on disposal of patented proprietary technology offset against amount due to BAK Shenzhen (Note 7) (c)   12,845,795    - 

 

(a)Mr. Xiangqian Li, the former CEO, is a director of this company. As of December 31, 2018 and December 31, 2019, payable to Zhengzhou BAK Battery Co., Ltd were $2,291,261 and nil, respectively, was included in trade accounts and bills payable.
(b)Mr. Xiangqian Li, our former CEO, is a director of this company.