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Construction in Progress

6 Months Ended

Jun. 30, 2020

8.	Construction in Progress

Construction in progress as of December 31, 2019 and June 30, 2020 consisted of the following:

	December 31,		June 30,
	2019		2020
Construction in progress	$	21,613,577	$	22,154,205
Prepayment for acquisition of property, plant and equipment		94,047		104,449
Carrying amount	$	21,707,624	$	22,258,654

Construction in progress as of December 31, 2019 and June 30, 2020 was mainly comprised of capital expenditures for the construction of the facilities and production lines of CBAK Power.

For the three months ended June 30, 2019 and 2020, the Company capitalized interest of $363,165 and $304,054, respectively, to the cost of construction in progress.

For the six months ended June 30, 2019 and 2020, the Company capitalized interest of $713,837 and $620,222, respectively, to the cost of construction in progress.