XML 75 R58.htm IDEA: XBRL DOCUMENT v3.21.1
Concentrations and Credit Risk (Tables)
 12 Months Ended
Dec. 31, 2020
Concentrations and Credit Risk [Abstract]  
Schedule of revenue by major customers by reporting segments
   Year ended   Year ended 
Sales of finished goods and raw materials  December 31,
2019		   December 31,
2020		 
Customer A  $7,222,245    32.54%  $8,322,504    22.15%
Customer B   *    *    3,806,110    10.13%
Customer C   3,308,638    14.91%   *    * 
Zhengzhou BAK Battery Co., Ltd (note a)   3,961,050    17.85%   12,770,075    33.99%

 

*Comprised less than 10% of net revenue for the respective period.
Schedule of accounts receivable by major customer
   December 31,
2019		   December 31,
2020		 
Customer A  $1,725,293    21.93%  $3,148,737    11.23%
Customer C   1,713,628    21.78%   *    * 
Customer D   902,309    11.47%   *    * 
Customer E   830,821    10.56%   *    * 
Zhengzhou BAK Battery Co., Ltd (note a)   *    *    15,258,164    54.42%

 

* Comprised less than 10% of net accounts receivable for the respective period.
Schedule of net purchase by suplier
    Year ended
December 31,
2019		     Year ended
December 31,
2020		  
Supplier A   $ *       *     $ 12,396,483       48.90 %
Supplier B     2,920,966       21.40 %     *       *  
Zhengzhou BAK New Energy Vehicle Co., Ltd (note b)     3,812,819       27.93 %     *       *  
Shenzhen BAK (note c)     *        *        3,884,309       15.32 %

 

*Comprised less than 10% of net purchase for the respective period.
Schedule of accounts payable by suplier
    December 31,
2019		     December 31,
2020		  
Supplier A   $ *       *     $ 9,272,478       47.40 %
Supplier C     *       *       2,017,814       10.32 %
Supplier D     1,126,482       10.10 %     *       *  
Schedule of transactions with the former subsidiaries
   December 31,
2019		   December 31,
2020		 
Purchase of inventories from        
BAK Shenzhen (note c)  $63,950    - 
           
Sales of finished goods and raw materials to          
BAK Shenzhen (note c)   526,719    - 
Zhengzhou BAK New Energy Technology Co., Ltd (note b)   -    1,562,637 

 

Notes:  
a Mr. Xiangqian Li, the Company's former CEO, is a director of Zhengzhou BAK Battery Co., Ltd. Up to the date of this report, Zhengzhou BAK Battery Co., Ltd. repaid $7,691,611 to the Company.
b Mr. Xiangqian Li is a director of Zhengzhou BAK New Energy Vehicle Co., Ltd, which has 29% equity interests in Zhengzhou BAK New Energy Technology Co., Ltd. As of December 31, 2019 and 2020, receivable from Zhengzhou BAK New Energy Technology Co., Ltd were nil and $1,759,050, respectively, was included in trade accounts and bills receivable, net, Up to the date of this report, Zhengzhou BAK New Energy Technology Co., Ltd repaid $741,353 to the Company.
c Mr. Xiangqian Li is a director of Shenzhen BAK and BAK Shenzhen.