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Pledged Deposits (Tables)
 6 Months Ended
Jun. 30, 2020
Pledged Deposits [Abstract]  
Schedule of pledged deposits

   December 31,   June 30, 
   2019   2020 
Pledged deposits with banks for:        
Bills payable  $4,021,255   $4,622,244 
Others*   1,499,736    1,392,933 
   $5,520,991   $6,015,177 

 

*

On July 7, 2016, Shenzhen Huijie Purification System Engineering Co., Ltd ("Shenzhen Huijie"), one of the Company's contractors, filed a lawsuit against CBAK Power in the Peoples' Court of Zhuanghe City, Dalian for the failure to pay pursuant to the terms of the contract and entrusted part of the project of the contract to a third party without their prior consent. The plaintiff sought a total amount of $1,193,301 (RMB8,430,792), including construction costs of $0.9 million (RMB6.1 million), interest of $28,308 (RMB0.2 million) and compensation of $0.3 million (RMB1.9 million), which we already accrued for as of September 30, 2016. On September 7, 2016, upon the request of Shenzhen Huijie, the Court froze CBAK Power's bank deposits totaling $1,193,301 (RMB8,430,792) for a period of one year. Further on September 1, 2017, upon the request of Shenzhen Huijie, the Court froze the bank deposits for another one year until August 31, 2018. The Court froze the bank deposits for another one year until August 27, 2019 upon the request of Shenzhen Huijie on August 27, 2018. On August 27, 2019, the Court again froze the bank deposits for another year until August 27, 2020, upon the request of Shenzhen Huijie. On June 28, 2020, the Court of Dalian entered the final judgement and the bank deposit was released in July 2020.