XML 52 R40.htm IDEA: XBRL DOCUMENT v3.20.2

Loans (Tables)

6 Months Ended

Jun. 30, 2020

Loans [Abstract]

Schedule of debt

		December 31, 2019				June 30, 2020
Short-term bank loan		$	5,730,289			$	5,647,478
Current maturities of long-term bank loans			10,844,463				19,914,792
Long-term bank borrowings			9,519,029				-
		$	26,093,781			$	25,562,270

Schedule of facilities secured by the company's assets

		December 31,				June 30,
		2019				2020
Pledged deposits (note 2)		$	4,021,255			$	4,622,244
Right-of-use assets (note 9)			7,194,195				7,010,713
Buildings			17,683,961				16,293,297
Machinery and equipment			7,196,810				6,684,042
		$	36,096,221			$	34,610,296

Schedule of other short-term loan

				December 31,				June 30,
		Note		2019				2020
Advance from related parties
– Mr. Xiangqian Li, the Company's Former CEO		(a)			100,000				100,000
– Mr. Yunfei Li		(b)			212,470				281,846
– Shareholders		(c)			86,679				85,427
					399,149				467,273
Advances from unrelated third party
– Mr. Wenwu Yu		(d)			30,135				29,700
– Mr. Longqian Peng		(d)			646,273				636,933
– Mr. Shulin Yu		(e)			517,018				509,547
– Jilin Province Trust Co. Ltd		(f)			5,687,204				3,425,287
– Suzhou Zhengyuanwei Needle Ce Co., Ltd		(g)			71,808				70,770
					6,952,438				4,672,237
				$	7,351,587			$	5,139,510

(a) Advances from Mr. Xiangqian Li, the Company's former CEO, was unsecured, non-interest bearing and repayable on demand.

(b) Advances from Mr. Yunfei Li, the Company's CEO, was unsecured, non-interest bearing and repayable on demand.

(c) The earnest money paid by certain shareholders in relation to share purchase (note 1) was unsecured, non-interest bearing and repayable on demand. In 2019, according to the investment agreements and agreed by the investors, the Company returned partial earnest money of $949,317 (approximately RMB6.7 million) to these investors. On October 14, 2019, the Company entered into a cancellation agreement with Mr. Shangdong Liu, Mr. Shibin Mao, Ms. Lijuan Wang and Mr. Ping Shen (the creditors). Pursuant to the terms of the cancellation agreement, Mr. Shangdong Liu, Mr. Shibin Mao, Ms. Lijuan Wang and Mr. Ping Shen agreed to cancel and convert the Fifth Debt (note 1) and the Unpaid Earnest Money in exchange for 528,053, 3,536,068, 2,267,798 and 2,267,798 shares of common stock of the Company, respectively, at an exchange price of $0.6 per share. Upon receipt of the shares, the creditors released the Company from any claims, demands and other obligations relating to the Fifth Debt and the Unpaid Earnest Money. As of June 30, 2020, earnest money of $85,427 remained outstanding.

	(d)	Advances from unrelated third parties were unsecured, non-interest bearing and repayable on demand.
	(e)	On June 25, 2019, the Company entered into a loan agreement with Mr. Shulin Yu, an unrelated party, to loan RMB3.6 million (approximately $0.5 million) for a term of one year, bearing annual interest of 10% and the repayment was guaranteed by Mr. Yunfei Li (the Company's CEO) and Mr. Wenwu Wang (the Company's former CFO). On June 22, 2020, the Company and Mr. Shulin Yu entered into a supplemental agreement to extend the loan for one year to June 24, 2021. As of June 30, 2020, the Company borrowed RMB3.6 million (approximately $0.5 million).
	(f)	In January 2019, the Company obtained one-year term facilities from Jilin Province Trust Co. Ltd. with a maximum amount of RMB40.0 million (approximately $5.7 million), which was secured by land use rights and buildings of Eodos Liga Energy Co., Ltd. Under the facilities, the Company borrowed a total of RMB39.6 million ($5.7 million) in 2019, bearing annual interest from 11.3% to 11.6%. The Company fully repaid the loan principal and accrued interest in March 2020. In March 2020, the Company obtained additional one-year term facilities from Jilin Province Trust Co. Ltd with a maximum amount of RMB40.0 million (approximately $5.7 million), which was secured by land use rights and buildings of Eodos Liga Energy Co., Ltd. Under the facilities, the Company borrowed RMB24.2 million ($3.4 million) on March 13, 2020, bearing annual interest of 13.5%.
	(g)	In 2019, the Company entered into a short term loan agreement with Suzhou Zhengyuanwei Needle Ce Co., Ltd, an unrelated party to loan RMB0.6 million (approximately $0.1 million), bearing annual interest rate of 12%. As of June 30, 2020, loan amount of RMB0.5 million ($70,770) remained outstanding.

X

- References

No definition available.

+ Details

Name:	cbat_LoansAbstract
Namespace Prefix:	cbat_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the carrying amount and classification of assets and liabilities recognized in the transferor's statement of financial position at the end of each period presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 30
-Section 50
-Paragraph 1A
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729

+ Details

Name:	us-gaap_ScheduleOfQuantitativeInformationAboutFinancialAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration