XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net revenues $ 44,628,241 $ 63,441,109 $ 151,243,718 $ 148,258,680
Cost of revenues (37,673,684) (51,192,531) (112,780,088) (129,219,716)
Gross profit 6,954,557 12,248,578 38,463,630 19,038,964
Operating expenses:        
Research and development expenses (3,434,351) (2,577,714) (9,205,378) (8,013,760)
Sales and marketing expenses (1,022,549) (1,116,377) (4,114,954) (2,800,969)
General and administrative expenses (2,779,519) (3,240,770) (10,002,040) (9,302,798)
Allowance for expected credit losses (546,011) (24,623) 241,332 (286,283)
Total operating expenses (7,782,430) (6,959,484) (23,081,040) (20,403,810)
Operating income (loss) (827,873) 5,289,094 15,382,590 (1,364,846)
Finance (expense) income, net (40,350) (447,031) 658,034 (189,248)
Other income, net 521,916 601,654 1,031,329 1,022,907
Gain on disposal of equity investee 55 26,967
Change in fair value of warrants 15,000 136,000
Income (loss) before income tax (346,252) 5,458,717 17,098,920 (395,187)
Income tax credit (expenses) (339,287) 305,431 (2,188,800) 1,015,626
Net income (loss) (685,539) 5,764,148 14,910,120 620,439
Less: Net loss attributable to non-controlling interest 703,186 570,644 1,389,439 1,699,008
Net income attributable to CBAK Energy Technology, Inc. 17,647 6,334,792 16,299,559 2,319,447
Net income (loss) (685,539) 5,764,148 14,910,120 620,439
Other comprehensive loss        
– Foreign currency translation adjustment 4,483,655 (515,279) 1,747,838 (6,405,609)
Comprehensive income (loss) 3,798,116 5,248,869 16,657,958 (5,785,170)
Less: Comprehensive loss attributable to non-controlling interest 719,587 553,874 1,416,981 1,927,515
Comprehensive (loss) income attributable to CBAK Energy Technology, Inc. $ 4,517,703 $ 5,802,743 $ 18,074,939 $ (3,857,655)
Income per share        
– Basic (in Dollars per share) $ 0 $ 0.07 $ 0.18 $ 0.03
– Diluted (in Dollars per share) $ 0 $ 0.07 $ 0.18 $ 0.03
Weighted average number of shares of common stock:        
– Basic (in Shares) 89,931,617 89,473,026 89,929,477 89,171,988
– Diluted (in Shares) 90,229,849 89,904,319 90,267,431 89,582,401