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v3.22.2.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
Schedule of operating decision maker evaluates performance based on each reporting segment |
For the three months ended June 30, 2021 |  | CBAT |  |  | Corporate unallocated (note) |  |  | Consolidated |
Net revenues |  | $ | 5,889,154 |  |  | $ | - |  |  | $ | 5,889,154 |
Cost of revenues |  |  | (4,791,503 | ) |  |  | - |  |  |  | (4,791,503 | )
Gross profit |  |  | 1,097,651 |  |  |  | - |  |  |  | 1,097,651 |
Total operating expenses |  |  | (3,207,587 | ) |  |  | (613,575 | ) |  |  | (3,821,162 | )
Operating loss |  |  | (2,109,936 | ) |  |  | (613,575 | ) |  |  | (2,723,511 | )
Finance income, net |  |  | 51,594 |  |  |  | 1,106 |  |  |  | 52,700 |
Other income, net |  |  | 331,576 |  |  |  | 5,059,458 |  |  |  | 5,391,034 |
Income tax (expense) credit |  |  | - |  |  |  | - |  |  |  | - |
Net (loss) income |  |  | (1,726,766 | ) |  |  | 4,446,989 |  |  |  | 2,720,223 |
For the three months ended June 30, 2022 |  | CBAT |  |  | Hitrans |  |  | Corporate unallocated (note) |  |  | Consolidated |
Net revenues |  | $ | 25,715,415 |  |  | $ | 30,634,245 |  |  | $ | - |  |  | $ | 56,349,660 |
Cost of revenues |  |  | (22,879,128 | ) |  |  | (27,935,224 | ) |  |  | - |  |  |  | (50,814,352 | )
Gross profit |  |  | 2,836,287 |  |  |  | 2,699,021 |  |  |  | - |  |  |  | 5,535,308 |
Total operating expenses |  |  | (3,160,096 | ) |  |  | (1,892,508 | ) |  |  | (338,215 | ) |  |  | (5,390,819 | )
Operating (loss) income |  |  | (323,809 | ) |  |  | 806,513 |  |  |  | (338,215 | ) |  |  | 144,489 |
Finance income (expenses), net |  |  | 82,956 |  |  |  | (96,857 | ) |  |  | (606,589 | ) |  |  | (620,490 | )
Other (expenses) income, net |  |  | (723,820 | ) |  |  | 264,874 |  |  |  | 2,131,000 |  |  |  | 1,672,054 |
Income tax expenses |  |  | - |  |  |  | (179,788 | ) |  |  | - |  |  |  | (179,788 | )
Net (loss) income |  |  | (964,673 | ) |  |  | 794,742 |  |  |  | 1,186,196 |  |  |  | 1,016,265 |
For the six months ended June 30, 2021 |  | CBAT |  |  | Corporate unallocated (note) |  |  | Consolidated |
Net revenues |  | $ | 15,305,203 |  |  | $ | - |  |  | $ | 15,305,203 |
Cost of revenues |  |  | (12,368,123 | ) |  |  | - |  |  |  | (12,368,123 | )
Gross profit |  |  | 2,937,080 |  |  |  | - |  |  |  | 2,937,080 |
Total operating expenses |  |  | (4,526,835 | ) |  |  | (1,161,638 | ) |  |  | (5,688,473 | )
Operating loss |  |  | (1,589,755 | ) |  |  | (1,161,638 | ) |  |  | (2,751,393 | )
Finance income, net |  |  | 38,151 |  |  |  | 6,951 |  |  |  | 45,102 |
Other income, net |  |  | 1,549,224 |  |  |  | 33,485,458 |  |  |  | 35,034,682 |
Income tax (expense) credit |  |  | - |  |  |  | - |  |  |  | - |
Net (loss) income |  |  | (2,380 | ) |  |  | 32,330,771 |  |  |  | 32,328,391 |
For the six months ended June 30, 2022 |  | CBAT |  |  | Hitrans |  |  | Corporate unallocated (note) |  |  | Consolidated |
Net revenues |  | $ | 40,736,101 |  |  | $ | 95,809,857 |  |  | $ | - |  |  | $ | 136,545,958 |
Cost of revenues |  |  | (36,916,890 | ) |  |  | (88,777,406 | ) |  |  | - |  |  |  | (125,694,296 | )
Gross profit |  |  | 3,819,211 |  |  |  | 7,032,451 |  |  |  | - |  |  |  | 10,851,662 |
Total operating expenses |  |  | (6,268,832 | ) |  |  | (5,030,255 | ) |  |  | (743,347 | ) |  |  | (12,042,434 | )
Operating (loss) income |  |  | (2,449,621 | ) |  |  | 2,002,196 |  |  |  | (743,347 | ) |  |  | (1,190,772 | )
Finance income (expenses), net |  |  | 190,826 |  |  |  | (199,565 | ) |  |  | (606,737 | ) |  |  | (615,476 | )
Other (expenses) income, net |  |  | (220,664 | ) |  |  | 46,922 |  |  |  | 3,763,000 |  |  |  | 3,589,258 |
Income tax expenses |  |  | - |  |  |  | (86,242 | ) |  |  | - |  |  |  | (86,242 | )
Net (loss) income |  |  | (2,479,459 | ) |  |  | 1,763,311 |  |  |  | 2,412,916 |  |  |  | 1,696,768 |
As of June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable long-lived assets |  |  | 98,270,980 |  |  |  | 29,806,602 |  |  |  | - |  |  |  | 128,077,582 |
Total assets |  |  | 185,340,523 |  |  |  | 84,324,915 |  |  |  | 316,300 |  |  |  | 269,981,738 |
Schedule of net revenues from manufacture of batteries by products |
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2021 |  |  | 2022 |  |  | 2021 |  |  | 2022 |
High power lithium batteries used in: |  |  |  |  |  |  |  |  |  |  |  |
Electric vehicles |  | $ | 396 |  |  | $ | (6 | ) |  | $ | 101,372 |  |  | $ | 303 |
Light electric vehicles |  |  | 74,459 |  |  |  | 671,444 |  |  |  | 108,563 |  |  |  | 760,208 |
Uninterruptable supplies |  |  | 5,813,136 |  |  |  | 25,043,977 |  |  |  | 14,576,719 |  |  |  | 39,975,590 |
Trading of raw material used in lithium batteries |  |  | 1,163 |  |  |  | - |  |  |  | 518,549 |  |  |  | - |
|  |  | 5,889,154 |  |  |  | 25,715,415 |  |  |  | 15,305,203 |  |  |  | 40,736,101 |
Materials used in manufacturing of lithium batteries |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cathode |  |  | - |  |  |  | 26,523,780 |  |  |  | - |  |  |  | 54,886,657 |
Precursor |  |  | - |  |  |  | 4,110,465 |  |  |  | - |  |  |  | 40,923,200 |
|  |  | - |  |  |  | 30,634,245 |  |  |  | - |  |  |  | 95,809,857 |
Total consolidated revenue |  | $ | 5,889,154 |  |  | $ | 56,349,660 |  |  | $ | 15,305,203 |  |  | $ | 136,545,958 |
Schedule of net revenues from manufacture of batteries by geographical areas |
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2021 |  |  | 2022 |  |  | 2021 |  |  | 2022 |
Mainland China |  | $ | 5,376,444 |  |  | $ | 42,620,429 |  |  | $ | 13,002,237 |  |  | $ | 114,616,442 |
Europe |  |  | 490,493 |  |  |  | 13,740,194 |  |  |  | 2,279,538 |  |  |  | 21,875,100 |
Others |  |  | 22,217 |  |  |  | (10,963 | ) |  |  | 23,428 |  |  |  | 54,416 |
Total |  | $ | 5,889,154 |  |  | $ | 56,349,660 |  |  | $ | 15,305,203 |  |  | $ | 136,545,958 |

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