XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Long-term Investments, Net | 9 Months Ended
--- | ---
Sep. 30, 2022
Long-Term Investments, Net [Abstract] |
Long-term investments, net | 8. Long-term investments, net Long-term investments as of December 31, 2021 and September 30, 2022 consisted of the following:
|  | December 31, 2021 |  |  | September 30, 2022 |
Investments in equity method investees |  | $ | - |  |  | $ | 281,061 |
Investments in non-marketable equity |  |  | 712,930 |  |  |  | 636,707 |
|  | $ | 712,930 |  |  | $ | 917,768 |
Investments in equity method investees
Balance as of January 1, 2022 |  | $ | - |
Investments made |  |  | 303,122 |
Income (loss) from investment |  |  | - |
Foreign exchange adjustment |  |  | (22,061 | )
Balance as of September 30, 2022 |  |  | 281,061 |
In August 2022, Nanjing CBAK, along with two unrelated third parties of the Company, Guangxi Guiwu Recycle Resources Company Limited (“Guangxi Guiwu”) and Mr. Weidong Xu, an unrelated third party entered into an investment agreement to jointly set up a new company - Guangxi Guiwu CBAK New Energy Technology Co., Ltd (“Guangxi Guiwu CBAK”) in which each party holding 20%, 60% and 20% equity interests and voting rights, respectively. Guangxi Guiwu engages in the business of recycling power batteries. The Company applies the equity method of accounting to account for the equity investments in common stock, over which it has significant influence but does not own a majority equity interest or otherwise control. Pursuant to the Company’s articles of association and relevant PRC regulations, each party was required to contribute the capital on or before December 31, 2023. As of September 30, 2022 and current, Nanjing CBAK, Guanxi Guiwu and Mr. Weidong had paid $0.3 million (RMB2 million), $0.8 million (RMB6 million) and $0.3 million (RMB2 million), respectively. Guangxi Guiwu CBAK has not commenced operations as of the date of this report. For the three and nine months ended September 30, 2022, no income (loss) from the above investment was recorded. Investments in non-marketable equity
|  | December 31, 2021 |  |  | September 30, 2022 |
Cost |  | $ | 1,416,185 |  |  | $ | 1,264,773 |
Impairment |  |  | (703,255 | ) |  |  | (628,066 | )
Carrying amount |  | $ | 712,930 |  |  | $ | 636,707 |
On April 21, 2021, CBAK Power, along with Shenzhen BAK Power Battery Co., Ltd (BAK Shenzhen), Shenzhen Asian Plastics Technology Co., Ltd (SZ Asian Plastics) and Xiaoxia Liu (collectively the “Investors”), entered into an investment agreement with Junxiu Li, Hunan Xintao New Energy Technology Partnership, Xingyu Zhu, and Jiangsu Saideli Pharmaceutical Machinery Manufacturing Co., Ltd for an investment in Hunan DJY Technology Co., Ltd ("DJY"), a privately held company. CBAK Power has paid $1.40 million (RMB9,000,000) to acquire 9.74% of the equity interests of DJY. CBAK Power along with other three new investors has appointed one director on behalf of the Investors to the Board of Directors of DJY. DJY is an unrelated third party of the Company engaging in in research and development, production and sales of products and services to lithium battery positive cathode materials producers, including the raw materials, fine ceramics, equipment and industrial engineering. Non-marketable equity securities are investments in privately held companies without readily determinable market value. The Company measures investments in non-marketable equity securities without a readily determinable fair value using a measurement alternative that measures these securities at the cost method minus impairment, if any, plus or minus changes resulting from observable price changes on a non-recurring basis. The fair value of non-marketable equity securities that have been remeasured due to impairment are classified within Level 3. The Company adjusts the carrying value of non-marketable equity securities which have been remeasured during the period and recognize resulting gains or losses as a component of other operating income (expense), net. The Company recognized $43 and nil impairment loss for the three months period ended September 30, 2021 and 2022, respectively. The Company recognized $690,585 and nil impairment loss for the nine months period ended September 30, 2021 and 2022, respectively.

X
- References No definition available. + Details
Name: | cbat_LongtermInvestmentsNetLineItems
Namespace Prefix: | cbat_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure Non-Marketable Securities. + References No definition available. + Details
Name: | cbat_NonMarketableSecuritiesTextBlock
Namespace Prefix: | cbat_
Data Type: | dtr:textBlockItemType
Balance Type: | na
Period Type: | duration