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Construction in Progress

3 Months Ended

Mar. 31, 2025

8.	Construction in Progress

Construction in progress as of December 31, 2024 and March 31, 2025 consisted of the following:

	December 31,		March 31,
	2024		2025
Construction in progress	$	29,819,111	$	34,066,477
Prepayment for acquisition of property, plant and equipment		12,707,748		17,460,966
Carrying amount	$	42,526,859	$	51,527,443

Construction in progress as of December 31, 2024 and March 31, 2025 mainly comprised capital expenditures for the construction of the facilities and production lines of CBAK Power, Nanjing CBAK and Hitrans.

For the three months ended March 31, 2024 and 2025, the Company capitalized interest of $195,278 and $91,289, respectively, to the cost of construction in progress.