XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net revenues $ 63,441,109 $ 57,721,692 $ 148,258,680 $ 194,267,650
Cost of revenues (51,192,531) (54,261,244) (129,219,716) (179,955,540)
Gross profit 12,248,578 3,460,448 19,038,964 14,312,110
Operating expenses:        
Research and development expenses (2,577,714) (2,385,591) (8,013,760) (7,998,181)
Sales and marketing expenses (1,116,377) (834,501) (2,800,969) (2,361,839)
General and administrative expenses (3,240,770) (1,866,055) (9,302,798) (6,556,944)
Recovery of (provision for) doubtful accounts (24,623) 142,966 (286,283) (68,651)
Total operating expenses (6,959,484) (4,943,181) (20,403,810) (16,985,615)
Operating (loss) income 5,289,094 (1,482,733) (1,364,846) (2,673,505)
Finance income (expenses), net (447,031) 687,345 (189,248) 71,869
Other (expenses) income, net 601,654 (991,352) 1,022,907 (1,165,094)
Change in fair value of warrants 15,000 936,000 136,000 4,699,000
Income (loss) before income tax 5,458,717 (850,740) (395,187) 932,270
Income tax credit (expenses) 305,431 2,012 1,015,626 (84,230)
Net (loss) income 5,764,148 (848,728) 620,439 848,040
Less: Net loss attributable to non-controlling interest 570,644 848,438 1,699,008 401,313
Net (loss) income attributable to CBAK Energy Technology, Inc. 6,334,792 (290) 2,319,447 1,249,353
Net (loss) income 5,764,148 (848,728) 620,439 848,040
Other comprehensive loss        
– Foreign currency translation adjustment (515,279) (8,925,745) (6,405,609) (15,620,472)
Comprehensive (loss) income 5,248,869 (9,774,473) (5,785,170) (14,772,432)
Less: Comprehensive loss attributable to non-controlling interest 553,874 1,632,419 1,927,515 1,150,285
Comprehensive (loss) income attributable to CBAK Energy Technology, Inc. $ 5,802,743 $ (8,142,054) $ (3,857,655) $ (13,622,147)
Income (loss) per share        
– Basic (in Dollars per share) $ 0.07 $ 0 [1] $ 0.03 $ 0.01
– Diluted (in Dollars per share) $ 0.07 $ 0 [1] $ 0.03 $ 0.01
Weighted average number of shares of common stock:        
– Basic (in Shares) 89,473,026 88,996,692 89,171,988 88,900,977
– Diluted (in Shares) 89,904,319 88,996,692 89,582,401 88,923,265
[1] Less than $0.01 per share