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Construction in Progress

6 Months Ended

Jun. 30, 2022

7. Construction in Progress

Construction in progress as of December 31, 2021 and June 30, 2022 consisted of the following:

	December 31,		June 30,
	2021		2022
Construction in progress	$	21,619,522	$	25,516,835
Prepayment for acquisition of property, plant and equipment		5,723,570		3,343,518
Carrying amount	$	27,343,092	$	28,860,353

Construction in progress as of December 31, 2021 and June 30, 2022 mainly comprised capital expenditures for the construction of the facilities and production lines of CBAK Power and Nanjing CBAK.

For the three months ended June 30, 2021 and 2022, the Company capitalized interest of $92,912 and nil, respectively, to the cost of construction in progress.

For the six months ended June 30, 2021 and 2022, the Company capitalized interest of $306,495 and nil, respectively, to the cost of construction in progress.