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Subsequent events | 12 Months Ended
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Dec. 31, 2022
Subsequent Events [Abstract] |
Subsequent events |
| 31. | Subsequent events
The Company has evaluated subsequent events through the date of the issuance of the consolidated financial statements and the following subsequent event has been identified. On January 5, 2023, the Company renewed the one-year term facility from Agricultural Bank of China, for a maximum amount of RMB10 million (approximately $1.6 million) for a period of one year to January 4, 2024, bearing interest at 120% of benchmark rate of the PBOC for short-term loans, which is 3.85% per annum. The facility was guaranteed by the Company’s CEO, Mr. Yunfei Li and Mr. Yunfei Li’s wife Ms. Qinghui Yuan and secured by an unrelated third party, Jiangsu Credits Financing Guarantee Co., Ltd. The Company borrowed RMB10 million (approximately $1.4 million) on January 6, 2023. On January 14, 2023, the Company renewed the one-year term facility from Jiangsu Gaochun Rural Commercial Bank, for a maximum amount of RMB10 million (approximately $1.4 million) bearing interest at 129% of benchmark rate of the People’s Bank of China (“PBOC”) for short-term loans, which is 4.7% per annum. The Company borrowed RMB10 million (approximately $1.4 million) on January 17, 2023 for a term until January 13, 2024. On January 5, 2023, the Company utilized RMB 1.5 million (approximately $0.2 million) letter of credit facilities granted by China CITIC Bank at an interest rate of 2.7% for a period of one year to January 5, 2024. On January 7, 2023, the Company obtained a two-year term facility from Postal Savings Bank of China, Nanjing Tianhe Branch with a maximum amount of RMB10 million (approximately $1.4 million) for a period from January 7, 2023 to January 6, 2025. The facility was guaranteed by the Company’s CEO, Mr. Yunfei Li, Mr. Yunfei Li’s wife Ms. Qinghui Yuan and CBAK New Energy (Nanjing) Co., Ltd. The Company borrowed RMB5 million (approximately $0.7 million) on January 12, 2023 for a term of one year until January 11, 2024, bearing interest at 3.65% per annum.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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