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Concentrations and Credit Risk (Tables) | 12 Months Ended
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Dec. 31, 2023
Concentrations and Credit Risk [Abstract] |
Schedule of Concentration Risk | The Company had the following customers that individually comprised 10% or more of net revenue for the years ended December 31, 2022 and 2023 as follows:
|  | Year ended |  |  | Year ended |
Sales of finished goods and raw materials |  | December 31, 2022 |  |  | December 31, 2023 |
Customer B |  | $ | 28,071,738 |  |  |  | 11.29 | % |  |  | * |  |  |  | * |
Customer C |  |  | * |  |  |  | * | % |  |  | 66,881,853 |  |  |  | 32.7 | %
Customer D |  |  | 57,856,658 |  |  |  | 23.26 | % |  |  | * |  |  |  | * | %
Zhengzhou BAK Battery Co., Ltd (note 18) |  |  | 53,236,804 |  |  |  | 21.40 | % |  |  | 27,872,002 |  |  |  | 13.6 | %
* | Comprised less than 10% of net revenue for the respective period.
The Company had the following customers that individually comprised 10% or more of net trade receivable (included VAT) as of December 31, 2022 and 2023 as follows:
|  | December 31, 2022 |  |  | December 31, 2023 |
Customer A |  | $ | 4,004,880 |  |  |  | 18.94 | % |  | $ | * |  |  |  | * |
Customer D |  |  | * |  |  |  | * |  |  |  | 7,239,247 |  |  |  | 27.7 | %
Zhengzhou BAK Battery Co., Ltd (note 18) |  |  | 9,156,383 |  |  |  | 43.30 | % |  |  | 12,441,715 |  |  |  | 47.5 | %
* | Comprised less than 10% of net accounts receivable for the respective period.
The Company had the following suppliers that individually comprised 10% or more of net purchase for the years ended December 31, 2022 and 2023 as follows:
|  | Year ended December 31, 2022 |  |  | Year ended December 31, 2023 |
Supplier A |  | $ | 33,781,075 |  |  |  | 14.46 | % |  | $ | 18,786,335 |  |  |  | 12.1 | %
Supplier B |  |  | * |  |  |  | * |  |  |  | 17,786,678 |  |  |  | 11.5 | %
Zhengzhou BAK Battery Co., Ltd (note 18) |  |  | 26,819,454 |  |  |  | 11.48 | % |  |  | * |  |  |  | * |
Supplier C |  |  | 24,720,344 |  |  |  | 10.58 | % |  |  | * |  |  |  | * |
* | Comprised less than 10% of net purchase for the respective period.
The Company had the following suppliers that individually comprised 10% or more of trade payable as of December 31, 2022 and 2023 as follows:
|  | December 31, 2022 |  |  | December 31, 2023 |
Supplier A |  | $ | * |  |  |  | * |  |  | $ | 2,689,740 |  |  |  | 10.1 | %
Supplier C |  |  | 4,064,942 |  |  |  | 12.50 | % |  |  | * |  |  |  | * |
Zhengzhou BAK Battery Co., Ltd (note 18) |  |  | 5,629,343 |  |  |  | 17.31 | % |  |  | * |  |  |  | * |
Zhejiang Shengyang Renewable Resources Technology Co., Ltd. |  |  | * |  |  |  | * |  |  |  | 3,498,324 |  |  |  | 13.0 | %

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