XML 87 R66.htm IDEA: XBRL DOCUMENT v3.25.1
Concentrations and Credit Risk (Tables)
 12 Months Ended
Dec. 31, 2024
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, 2023 and 2024 as follows:

 

   Year ended   Year ended 
Sales of finished goods and raw materials  December 31, 2023   December 31, 2024 
Customer A  $*   *    27,752,479    15.7%
Customer B   66,881,853    32.7%   57,563,897    32.6%
Zhengzhou BAK Battery Co., Ltd (note 18)   27,872,002    13.6%   18,661,537    10.6%

 

* Comprised less than 10% of net revenue for the respective period.
   December 31, 2023   December 31, 2024 
Customer A  $7,239,247    27.7%  $10,676,044    41.5%
Zhengzhou BAK Battery Co., Ltd (note 18)   12,441,715    47.5%   5,970,184    23.2%
    Year ended
December 31,
2023		     Year ended
December 31,
2024		  
Supplier A   $ 18,786,335       13.7 %   $ 10,171,281       10.1 %
Supplier B     *       *       11,864,125       11.7 %

 

* 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, 2023 and 2024 as follows:

 

   December 31, 2023   December 31, 2024 
Supplier A  $2,689,740    10.2%  $*           * 
Supplier B     *      *    3,263,562    12.4%
Zhejiang Shengyang Renewable Resources Technology Co., Ltd.   3,498,324    13.3%   *    *