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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
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, 2023 and 2024 were as follows:
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 | )
For the year ended December 31, 2024 |  | CBAT |  |  | Hitrans |  |  | Corporate unallocated (note) |  |  | Consolidated |
Net revenues |  | $ | 136,588,803 |  |  | $ | 40,025,806 |  |  | $ | - |  |  | $ | 176,614,609 |
Cost of revenues |  |  | (93,535,812 | ) |  |  | (41,303,552 | ) |  |  | - |  |  |  | (134,839,364 | )
Gross profit (loss) |  |  | 43,052,991 |  |  |  | (1,277,746 | ) |  |  | - |  |  |  | 41,775,245 |
Total operating expenses |  |  | (22,848,626 | ) |  |  | (8,539,324 | ) |  |  | (1,599,146 | ) |  |  | (32,987,096 | )
Operating income (loss) |  |  | 20,204,365 |  |  |  | (9,817,070 | ) |  |  | (1,599,146 | ) |  |  | 8,788,149 |
Finance income (expenses), net |  |  | 1,275,246 |  |  |  | 7,954 |  |  |  | (110 | ) |  |  | 1,283,090 |
Other income (expenses), net |  |  | (490,229 | ) |  |  | 1,562,753 |  |  |  | - |  |  |  | 1,072,524 |
Income tax expenses |  |  | (1,558,613 | ) |  |  | - |  |  |  | - |  |  |  | (1,558,613 | )
Net income (loss) |  |  | 19,430,769 |  |  |  | (8,246,363 | ) |  |  | (1,599,256 | ) |  |  | 9,585,150 |
As of December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable long-lived assets |  |  | 98,429,723 |  |  |  | 44,280,749 |  |  |  | - |  |  |  | 142,710,472 |
Total assets |  |  | 211,880,435 |  |  |  | 90,295,480 |  |  |  | 42,229 |  |  |  | 302,218,144 |
Schedule of Revenue from Products | Revenue from these products is as follows:
|  | Year ended December 31, 2023 |  |  | Year ended December 31, 2024 |
High power lithium batteries used in: |  |  |  |  |  |  |  |
Electric vehicles |  | $ | 2,883,385 |  |  | $ | 1,681,651 |
Light electric vehicles |  |  | 5,607,435 |  |  |  | 10,319,176 |
Residential energy supply & uninterruptable supplies |  |  | 124,502,698 |  |  |  | 124,587,976 |
|  |  | 132,993,518 |  |  |  | 136,588,803 |
Materials used in manufacturing of lithium batteries |  |  |  |  |  |  |  |
Cathode |  |  | 39,845,626 |  |  |  | 34,228,998 |
Precursor |  |  | 31,599,221 |  |  |  | 5,796,808 |
|  |  | 71,444,847 |  |  |  | 40,025,806 |
Total consolidated revenue |  | $ | 204,438,365 |  |  | $ | 176,614,609 |
Schedule of Company’s Sales by Geographical Markets based on Locations of Customers | The following table provides an analysis of the Company’s sales by geographical markets based on locations of customers:
|  | Year ended December 31, 2023 |  |  | Year ended December 31, 2024 |
Mainland China |  | $ | 119,307,085 |  |  | $ | 98,925,752 |
Europe |  |  | 78,575,290 |  |  |  | 65,746,989 |
Others |  |  | 6,555,990 |  |  |  | 11,941,868 |
Total |  | $ | 204,438,365 |  |  | $ | 176,614,609 |

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