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Concentrations and Credit Risk (Tables) | 3 Months Ended
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Mar. 31, 2021
Risks and Uncertainties [Abstract] |
Schedule of revenue by major customers by reporting segments |
|  | Three months ended March 31, |
|  | 2020 |  |  | 2021 |
Customer A |  | $ | 2,093,093 |  |  |  | 30.33 | % |  | $ | 2,903,261 |  |  |  | 30.83 | %
Customer B |  |  | * |  |  |  | * |  |  |  | 1,789,045 |  |  |  | 19.00 | %
Customer C |  |  | * |  |  |  | * |  |  |  | 1,348,200 |  |  |  | 14.32 | %
Customer D |  |  | 3,796,267 |  |  |  | 55.01 | % |  |  | * |  |  |  | * |
* Comprised less than 10% of net revenue for the respective period.
Schedule of accounts receivable by major customer |
|  | December 31, 2020 |  |  | March 31, 2021 |
Customer A |  | $ | 3,148,737 |  |  |  | 11.23 | % |  | $ | 6,335,867 |  |  |  | 28.13 | %
Zhengzhou BAK Battery Co., Ltd (note a) |  |  | 15,258,164 |  |  |  | 54.42 | % |  |  | 8,437,625 |  |  |  | 37.46 | %
Schedule of net purchase by suppliers |
|  | Three months ended March 31, |
|  | 2020 |  |  | 2021 |
Supplier A |  | $ | * |  |  |  | * |  |  | $ | 659,513 |  |  |  | 10.21 | %
Zhengzhou BAK Battery Co., Ltd (note a) |  |  | * |  |  |  | * |  |  |  | 1,259,309 |  |  |  | 19.49 | %
Shenzhen BAK (note b) |  |  | 3,841,680 |  |  |  | 82.43 | % |  |  | * |  |  |  | * |
* Comprised less than 10% of net purchase for the respective period.
Schedule of accounts payable by suppliers |
|  | December 31, 2020 |  |  | March 31, 2021 |
Supplier B |  | $ | 9,272,478 |  |  |  | 47.40 | % |  | $ | 1,728,201 |  |  |  | 19.08 | %
Supplier C |  |  | 2,017,814 |  |  |  | 10.32 | % |  |  | 950,038 |  |  |  | 10.49 | %
Supplier D |  |  | * |  |  |  | * |  |  |  | 947,819 |  |  |  | 10.46 | %
Schedule of transactions |
|  | Three months ended March 31, |
|  | 2020 |  |  | 2021 |
Sales of finished goods and raw materials to |  |  |  |  |  |
BAK Shenzhen (note b) |  | $ | 69,226 |  |  | $ | - |
Zhengzhou BAK Battery Co., Ltd (note a) |  |  | - |  |  |  | 108,290 |
Zhengzhou BAK Electronics Co., Ltd. (note c) |  |  | - |  |  |  | 412,353 |
|  | December 31, 2020 |  |  | March 31, 2021 |
Trade accounts and bills receivables, net |  |  |  |  |  |  |  |
Zhengzhou BAK Electronics Co., Ltd (note c) |  | $ | - |  |  | $ | 461,024 |
Zhengzhou BAK New Energy Vehicle Co., Ltd (note d) |  |  | 1,759,050 |  |  |  | 911,599 |
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 $2,327,491 to the Company.
b | Mr. Xiangqian Li is a director of Shenzhen BAK and BAK Shenzhen.
c | BAK Shenzhen has 95% equity interests in Zhengzhou BAK Electronics Co., Ltd. Up to the date of this report, Zhengzhou BAK Electronics Co., Ltd. repaid nil to the Company.
d | Mr. Xiangqian Li is a director of Zhengzhou BAK New Energy Vehicle Co., Ltd. For the three months ended March 31, 2020 and 2021, sales of finished goods and raw materials to Zhengzhou BAK New Energy Vehicle Co., Ltd were nil. Up to the date of this report, Zhengzhou BAK New Energy Technology Co., Ltd repaid nil to the Company.

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- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
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