XML 70 R59.htm IDEA: XBRL DOCUMENT v3.22.2.2

Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of operating decision maker evaluates performance based on each reporting segment

For the three months ended September 30, 2021		CBAT				Corporate unallocated (note)				Consolidated
Net revenues		$	9,562,190			$	-			$	9,562,190
Cost of revenues			(8,430,808	)			-				(8,430,808	)
Gross profit			1,131,382				-				1,131,382
Total operating expenses			(3,941,349	)			(364,079	)			(4,305,428	)
Operating loss			(2,809,967	)			(364,079	)			(3,174,046	)
Finance income, net			128,381				959				129,340
Other income, net			69,970				22,997,957				23,067,927
Income tax (expense) credit			-				-				-
Net (loss) income			(2,611,616	)			22,634,837				20,023,221

For the three months ended September 30, 2022		CBAT				Hitrans				Corporate unallocated (note)				Consolidated
Net revenues		$	25,845,959			$	31,875,733			$	-			$	57,721,692
Cost of revenues			(23,603,029	)			(30,658,215	)			-				(54,261,244	)
Gross profit			2,242,930				1,217,518				-				3,460,448
Total operating expenses			(2,485,812	)			(2,352,448	)			(104,921	)			(4,943,181	)
Operating loss			(242,882	)			(1,134,930	)			(104,921	)			(1,482,733	)
Finance income (expenses), net			214,947				(134,115	)			606,513				687,345
Other (expenses) income, net			1,092,252				(2,083,604	)			936,000				(55,352	)
Income tax credit			-				2,012				-				2,012
Net income (loss)			1,064,317				(3,350,637	)			1,437,592				(848,728	)

For the nine months ended September 30, 2021		CBAT				Corporate unallocated (note)				Consolidated
Net revenues		$	24,867,393			$	-			$	24,867,393
Cost of revenues			(20,798,931	)			-				(20,798,931	)
Gross profit			4,068,462				-				4,068,462
Total operating expenses			(8,468,184	)			(1,525,717	)			(9,993,901	)
Operating loss			(4,399,722	)			(1,525,717	)			(5,925,439	)
Finance income, net			166,532				7,910				174,442
Other income, net			1,619,194				56,483,415				58,102,609
Income tax (expense) credit			-				-				-
Net (loss) income			(2,613,996	)			54,965,608				52,351,612

For the nine months ended September 30, 2022		CBAT				Hitrans				Corporate unallocated (note)				Consolidated
Net revenues		$	66,582,060			$	127,685,590			$	-			$	194,267,650
Cost of revenues			(60,519,919	)			(119,435,621	)			-				(179,955,540	)
Gross profit			6,062,141				8,249,969				-				14,312,110
Total operating expenses			(8,754,644	)			(7,382,703	)			(848,268	)			(16,985,615	)
Operating (loss) income			(2,692,503	)			867,266				(848,268	)			(2,673,505	)
Finance income (expenses), net			405,773				(333,680	)			(224	)			71,869
Other (expenses) income, net			871,588				(2,036,682	)			4,699,000				3,533,906
Income tax expenses			-				(84,230	)			-				(84,230	)
Net (loss) income			(1,415,142	)			(1,587,326	)			3,850,508				848,040
As of September 30, 2022
Identifiable long-lived assets			91,615,396				25,844,129				-				117,459,525
Total assets			176,060,305				75,154,979				257,852				251,473,136

Schedule of net revenues from products

		Three months ended September 30,								Nine months ended September 30,
		2021				2022				2021				2022
High power lithium batteries used in:
Electric vehicles		$	6			$	19,688			$	101,378			$	19,991
Light electric vehicles			227,333				1,146,370				335,896				1,906,578
Uninterruptable supplies			9,335,146				24,679,901				23,911,865				64,655,491
Trading of raw material used in lithium batteries			(295	)			-				518,254				-
			9,562,190				25,845,959				24,867,393				66,582,060
Materials used in manufacturing of lithium batteries
Cathode			-				11,195,810				-				66,082,467
Precursor			-				20,679,923				-				61,603,123
			-				31,875,733				-				127,685,590
Total consolidated revenue		$	9,562,190			$	57,721,692			$	24,867,393			$	194,267,650

Schedule of sales by geographical markets based on locations of customers

		Three months ended								Nine months ended
		September 30,								September 30,
		2021				2022				2021				2022
Mainland China		$	8,302,259				42,538,023			$	21,304,496			$	157,154,465
Europe			1,042,996				15,033,148				3,322,534				36,908,248
Others			216,935				150,521				240,363				204,937
Total		$	9,562,190			$	57,721,692			$	24,867,393			$	194,267,650

X

- Definition

Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Paragraph (a)
-Subsection 04

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

+ Details

Name:	srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix:	srt_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph a
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

+ Details

Name:	us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

+ Details

Name:	us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration