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Prepayments and Other Receivables (Tables) | 9 Months Ended
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Sep. 30, 2021
Prepayments And Other Receivables And Recoverable From Loan Guarantee [Abstract] |
Schedule of prepayments and other receivables |
|  | December 31, |  |  | September 30, |
|  | 2020 |  |  | 2021 |
Value added tax recoverable |  | $ | 4,524,475 |  |  | $ | 5,016,628 |
Loan receivables * |  |  | 1,358,637 |  |  |  | - |
Prepayments to suppliers |  |  | 424,311 |  |  |  | 2,831,442 |
Deposits |  |  | 17,385 |  |  |  | 3,226 |
Staff advances |  |  | 67,867 |  |  |  | 79,380 |
Prepaid operating expenses |  |  | 529,401 |  |  |  | 766,274 |
Others |  |  | 524,468 |  |  |  | 1,025,628 |
|  |  | 7,446,544 |  |  |  | 9,722,578 |
Less: Allowance for doubtful accounts |  |  | (7,000 | ) |  |  | (7,000 | )
|  | $ | 7,439,544 |  |  | $ | 9,715,578 |
| * | Nanjing CBAK entered into a loan agreement with Shen Zhen Asian Plastics Technology Co., Ltd (SZ Asian Plastics), to loan SZ Asian Plastics a total amount of $1.4 million (RMB8,870,000) for a period of 6 months from December 1, 2020 to May 31, 2021. The loan was unsecured and bearing fixed interest at 6% per annum. The Company’s shareholder Mr. Jiping Zhao, holding 2.39% equity interest in the Company, at the same time held 79.13% equity interests in SZ Asian Plastics. In March 2021, SZ Asian Plastics has fully repaid the loan principal.

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- Definition Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs. + 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 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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