Schedule of Principal Related Parties Transactions

The principal related parties with which the Company had transactions during the periods presented are as follows:

Name of Entity or Individual		Relationship with the Company
New Era Group Zhejiang New Energy Materials Co., Ltd.		Shareholder of company’s subsidiary
Zhengzhou BAK Battery Co., Ltd		Note a
Shenzhen BAK Battery Co., Ltd (“SZ BAK”)		Former subsidiary and refer to Note b
Shenzhen BAK Power Battery Co., Ltd (“BAK SZ”)		Former subsidiary and refer to Note b
Zhejiang Shengyang Renewable Resources Technology Co., Ltd.		Note c
Fuzhou BAK Battery Co., Ltd		Note d
Zhengzhou BAK Electronics Co., Ltd		Note e

(a)	Mr. Xiangqian Li, the Company’s former CEO, is a director of Zhengzhou BAK Battery Co., Ltd.

(b)	Mr. Xiangqian Li is a director of Shenzhen BAK Battery Co., Ltd and Shenzhen BAK Power Battery Co., Ltd

(c)

On September 27, 2023, Hitrans entered into an Equity Transfer Contract (the “Equity Transfer Contract”) with Mr. Shengyang Xu, pursuant to which Hitrans will initially acquire a 26% equity interest in Zhejiang Shengyang Renewable Resources Technology Co., Ltd. (“Zhejiang Shengyang”) from Mr. Xu, an individual who currently holds 97% of Zhejiang Shengyang, for a price of RMB28.6 million (approximately $3.9 million) (the “Initial Acquisition”). Neither Mr. Xu, nor Zhejiang Shengyang is related to the Company.

(d)	Zhengzhou BAK Battery Co., Ltd has 51% equity interest in Fuzhou BAK Battery Co., Ltd. Zhengzhou BAK Battery Co., Ltd is a wholly owned subsidiary of BAK SZ.

(e)	Mr. Xiangqian Li, the Company’s former CEO, is a director of BAK SZ, which has 95% equity interests in Zhengzhou BAK Electronics Co., Ltd..

Schedule of Receivables from a Former Subsidiary, Net

Receivables from a former subsidiary, net

	December 31, 2023		September 30, 2024

Receivables from Shenzhen BAK Power Battery Co., Ltd	$	74,946	$	7,580
Less: Allowance for credit losses		-		-
	$	74,946	$	7,580

Schedule of Other Balances Due From/ (to) Related Parties

Other balances due from/ (to) related parties

	December 31, 2023		September 30, 2024

Trade receivable, net – Zhengzhou BAK Battery Co., Ltd. (i)	$	12,441,715	$	4,921,121

Trade receivable, net – Zhengzhou BAK Electronics Co., Ltd. (ii)	$	226,143	$	215,896

Bills receivable – Issued by Zhengzhou BAK Battery Co., Ltd (iii)	$	-		9,957

Bills receivable – Issued by Zhengzhou BAK Electronics Co., Ltd (iv)	$	47,767	$	-

Prepayment to supplier - Zhengzhou BAK Battery Co., Ltd (v)	$	-	$	3,898,336

Trade payable, net – Zhengzhou BAK Battery Co., Ltd (vi)	$	803,685	$	-

Trade payable, net – Zhejiang Shengyang Renewable Resources Technology Co., Ltd (vii)	$	3,489,324	$	3,500,853

Deposit paid for acquisition of long-term investments – Shenzhen BAK Power Battery Co., Ltd (note 14)	$	7,101,492	$	16,500,192

Dividend payable to non-controlling interest of Hitrans (note 17)	$	1,256,745	$	1,283,507

(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 $1.0 million to the Company.

(ii)	Representing trade receivables from sales of cathode raw materials to Zhengzhou BAK Electronics Co., Ltd.

(iii)	Representing bills receivable issued by Zhengzhou BAK Battery Co., Ltd.. Bills receivable as of September 30, 2024 were pledged to bank as security for issuance of bills payable (note 15).

(iv)	Representing bills receivable issued by Zhengzhou BAK Electronics Co., Ltd.. Bills receivable as of September 30, 2024 were pledged to bank as security for issuance of bills payable (note 15).

(v)	Representing the prepayments to Zhengzhou BAK Battery Co., Ltd for purchase of batteries.

(vi)	Representing trade payables on purchase of batteries from Zhengzhou BAK Battery Co., Ltd.

(vii)

Representing trade payables on purchase of cathode raw materials from Zhejiang Shengyang Renewable Resources Technology Co., Ltd.