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v3.23.1

Balances and Transactions With Related Parties (Tables) | 12 Months Ended
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Dec. 31, 2022
Related Party Transactions [Abstract] |
Schedule of principal related parties |
Name of Entity or Individual |  | Relationship with the Company
New Era Group Zhejiang New Energy Materials Co., Ltd. |  | Shareholder of company’s subsidiary
Shenzhen Baijun Technology Co., Ltd |  | Shareholder of company’s subsidiary
Zhengzhou BAK Battery Co., Ltd |  | Note a
Zhengzhou BAK New Energy Technology Co., Ltd |  | Note b
Shenzhen BAK Battery Co., Ltd |  | Former subsidiary and refer to Note c
Shenzhen BAK Power Battery Co., Ltd |  | Former subsidiary and refer to Note c
Zhejiang New Era Zhongneng Recycling Technology Co., Ltd. |  | Note d
Hangzhou Juzhong Daxin Asset Management Co., Ltd |  | Note e
Mr. Junnan Ye (Note 13) |  | Former shareholder of Zhejiang Hitrans Lithium Battery Technology Co., Ltd
Schedule of related party transactions |
|  | For the year ended December 31, 2021 |  |  | For the year ended December 31, 2022 |
Purchase of batteries from Zhengzhou BAK Battery Co., Ltd |  | $ | 5,522,832 |  |  | $ | 26,819,454 |
Sales of cathode raw materials to Zhengzhou BAK Battery Co., Ltd |  |  | 8,339,088 |  |  |  | 53,236,804 |
Sales return of batteries to Zhengzhou BAK New Energy Technology Co., Ltd |  |  | (91,974 | ) |  |  | - |
Sales of cathode raw materials to Shenzhen BAK Power Battery Co., Ltd |  |  | 10,032 |  |  |  | 8,681,496 |
Interest expense charge by Mr. Junnan Ye |  |  | 135,606 |  |  |  | - |
Schedule of receivables from former subsidiary |
|  | December 31, 2021 |  |  | December 31, 2022 |
Receivables from Shenzhen BAK Power Battery Co., Ltd |  | $ | 2,263,955 |  |  | $ | 5,518,052 |
Schedule of amount due from non-controlling interest |
|  | December 31, 2021 |  |  | December 31, 2022 |
Shenzhen Baijun Technology Co., Ltd |  |  |  |  |  |
Current |  | $ | 125,883 |  |  | $ | - |
Non-current |  |  | 62,941 |  |  |  | - |
|  | $ | 188,824 |  |  | $ | - |
Schedule of amount due from related party |
|  | December 31, 2021 |  |  | December 31, 2022 |
Hangzhou Juzhong Daxin Asset Management Co., Ltd (Note 12) |  |  | 472,061 |  |  |  | - |
Schedule of other balances due from/ (to) related parties |
|  | December 31, 2021 |  |  | December 31, 2022 |
Trade receivable, net – Zhengzhou BAK Battery Co., Ltd (i) |  | $ | 14,583,061 |  |  | $ | 9,156,383 |
Trade receivable, net – Zhengzhou BAK New Energy Technology Co., Ltd (ii) |  | $ | 459,714 |  |  | $ | - |
Bills receivable – Issued by Zhengzhou BAK Battery Co., Ltd (iii) |  | $ | 1,861,280 |  |  | $ | 2,941,683 |
Trade payable, net – Zhengzhou BAK Battery Co., Ltd |  | $ | (572,768 | ) |  | $ | (5,629,343 | )
Dividend payable to non-controlling interest of Hitrans (note 16) |  | $ | 1,444,737 |  |  | $ | 1,290,942 |
(i) | Representing trade receivables from sales of cathode raw materials to Zhengzhou BAK Battery Co., Ltd. Up to the date of this report, Zhengzhou BAK Battery Co., Ltd. repaid $5.1 million to the Company.
(ii) | Representing trade payables on purchase of batteries from Zhengzhou BAK Battery Co., Ltd.
(iii) | Representing bills receivable issued by Zhengzhou BAK Battery Co., Ltd. The Company endorsed the bills receivable to suppliers for settling trade payables subsequent to December 31, 2022.
Schedule of payables to a former subsidiary |
|  | December 31, |  |  | December 31, |
|  | 2021 |  |  | 2022 |
Payables to Shenzhen BAK Power Battery Co., Ltd |  | $ | (326,507 | ) |  | $ | (358,067 | )

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