XML 90 R67.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment Information [Abstract] |
Schedule of Operating Decision Maker Evaluates Performance based on Each Reporting Segment | Net revenue, cost of revenues, operating expenses, operating income, finance income (expense), other income (expenses) and net income (loss) by segment for the years ended December 31, 2022 and 2023 were as follows
For the year ended December 31, 2022 |  | CBAT |  |  | Hitrans |  |  | Corporate unallocated (note) |  |  | Consolidated |
Net revenues |  | $ | 94,715,189 |  |  | $ | 154,010,296 |  |  | $ | - |  |  | $ | 248,725,485 |
Cost of revenues |  |  | (86,333,047 | ) |  |  | (144,297,114 | ) |  |  | - |  |  |  | (230,630,161 | )
Gross profit |  |  | 8,382,142 |  |  |  | 9,713,182 |  |  |  |  |  |  |  | 18,095,324 |
Total operating expenses |  |  | (13,489,453 | ) |  |  | (14,993,719 | ) |  |  | (1,116,755 | ) |  |  | (29,599,927 | )
Operating (loss) income |  |  | (5,107,311 | ) |  |  | (5,280,537 | ) |  |  | (1,116,755 | ) |  |  | (11,504,603 | )
Finance income (expenses), net |  |  | 929,756 |  |  |  | (438,387 | ) |  |  | (309 | ) |  |  | 491,060 |
Other income, net |  |  | (3,590,693 | ) |  |  | (3,661,782 | ) |  |  | 5,710,000 |  |  |  | (1,542,475 | )
Income tax credit |  |  | - |  |  |  | 1,228,207 |  |  |  | - |  |  |  | 1,228,207 |
Net income |  |  | (7,768,248 | ) |  |  | (8,152,499 | ) |  |  | 4,592,936 |  |  |  | (11,327,811 | )
For the year ended December 31, 2023 |  | CBAT |  |  | Hitrans |  |  | Corporate unallocated (note) |  |  | Consolidated |
Net revenues |  | $ | 132,993,518 |  |  | $ | 71,444,847 |  |  | $ | - |  |  | $ | 204,438,365 |
Cost of revenues |  |  | (101,413,350 | ) |  |  | (71,300,692 | ) |  |  | - |  |  |  | (172,714,042 | )
Gross profit |  |  | 31,580,168 |  |  |  | 144,155 |  |  |  | - |  |  |  | 31,724,323 |
Total operating expenses |  |  | (20,861,844 | ) |  |  | (17,159,677 | ) |  |  | (954,614 | ) |  |  | (38,976,135 | )
Operating income (loss) |  |  | 10,718,324 |  |  |  | (17,015,522 | ) |  |  | (954,614 | ) |  |  | (7,251,812 | )
Finance income (expenses), net |  |  | 337,243 |  |  |  | 95,816 |  |  |  | (159 | ) |  |  | 432,900 |
Other income (expenses), net |  |  | 2,906,648 |  |  |  | (2,276,918 | ) |  |  | 136,000 |  |  |  | 765,730 |
Income tax expenses |  |  | - |  |  |  | (2,486,145 | ) |  |  | - |  |  |  | (2,486,145 | )
Net income (loss) |  |  | 13,962,215 |  |  |  | (21,682,769 | ) |  |  | (818,773 | ) |  |  | (8,539,327 | )
As of December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable long-lived assets |  |  | 100,815,622 |  |  |  | 42,249,656 |  |  |  | - |  |  |  | 143,065,278 |
Total assets |  |  | 196,166,083 |  |  |  | 84,950,872 |  |  |  | 38,305 |  |  |  | 281,155,260 |
Note: The Company does not allocate its assets located and expenses incurred outside China to its reportable segments because these assets and activities are managed at a corporate level.
Schedule of Revenue from These Products | For the product sales of materials used in manufacturing of lithium batteries, the Company, via its subsidiary, Hitrans, manufactured cathode materials and Precursor for use in manufacturing of cathode. Revenue from these products is as follows:
|  | Year ended December 31, 2022 |  |  | Year ended December 31, 2023 |
High power lithium batteries used in: |  |  |  |  |  |
Electric vehicles |  | $ | 4,694,694 |  |  | $ | 2,883,385 |
Light electric vehicles |  |  | 6,415,277 |  |  |  | 5,607,435 |
Residential energy supply & uninterruptable supplies |  |  | 83,603,046 |  |  |  | 124,502,698 |
Trading of raw materials used in lithium batteries |  |  | 2,172 |  |  |  | - |
|  |  | 94,715,189 |  |  |  | 132,993,518 |
Materials used in manufacturing of lithium batteries |  |  |  |  |  |  |  |
Cathode |  |  | 75,331,144 |  |  |  | 39,845,626 |
Precursor |  |  | 78,679,152 |  |  |  | 31,599,221 |
|  |  | 154,010,296 |  |  |  | 71,444,847 |
Total consolidated revenue |  | $ | 248,725,485 |  |  | $ | 204,438,365 |
Schedule of Operations are Located in the PRC | The following table provides an analysis of the Company’s sales by geographical markets based on locations of customers:
|  | Year ended December 31, 2022 |  |  | Year ended December 31, 2023 |
Mainland China |  | $ | 198,114,578 |  |  | $ | 119,307,085 |
Europe |  |  | 50,378,076 |  |  |  | 78,575,290 |
USA |  |  | 36,525 |  |  |  | 5,216 |
Others |  |  | 196,306 |  |  |  | 6,550,774 |
Total |  | $ | 248,725,485 |  |  | $ | 204,438,365 |

X
- References No definition available. + Details
Name: | cbat_SegmentInformationTablesLineItems
Namespace Prefix: | cbat_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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 -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration