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Construction in Progress

9 Months Ended

Sep. 30, 2025

Construction in Progress

Construction in progress as of December 31, 2024 and September 30, 2025 consisted of the following:

	December 31,		September 30,
	2024		2025
Construction in progress	$	29,819,111	$	69,970,699
Prepayment for acquisition of property, plant and equipment		12,707,748		19,487,598
Carrying amount	$	42,526,859	$	89,458,297

Construction in progress as of December 31, 2024 and September 30, 2025 mainly comprised capital expenditures for the construction of the facilities and production lines of CBAK Power, Nanjing CBAK, Hitrans and Yuanchuang.

For the three months ended September 30, 2024 and 2025, the Company capitalized interest of $169,159 and $7,252, respectively, to the cost of construction in progress.

For the nine months ended September 30, 2024 and 2025, the Company capitalized interest of $640,938 and $189,129, respectively, to the cost of construction in progress.