Loans (Tables)

3 Months Ended

Mar. 31, 2019

Loans [Abstract]

Schedule of debt

	December 31, 2018		March 31, 2019
Current maturities of long-term bank loans	$	3,659,324	$	3,750,359
Long-term bank borrowings		20,614,194		21,127,024
	$	24,273,518	$	24,877,383

Schedule of facilities secured by the company's assets

	December 31, 2018		March 31, 2019
Pledged deposits (note 2)	$	16,014,118	$	16,390,128
Prepaid land use rights (note 9)		7,446,117		7,589,504
Buildings		17,501,902		17,813,978
Machinery and equipment		10,206,100		9,355,930
Bills receivable (note 3)		6,353,342		229,017
	$	57,521,579	$	51,378,557

Schedule of advance from related parties

		December 31,		March 31,
	Note	2018		2019
Advance from related parties
– Tianjin BAK New Energy Research Institute Co., Ltd ("Tianjin New Energy")	(a)	$	11,095,070	$	5,913,978
– Mr. Xiangqian Li, the Company's Former CEO	(b)		100,000		100,000
– Mr. Yunfei Li, the Company's CEO	(c)		116,307		126,267
– Shareholders	(d)		2,035,381		1,308,265
			13,346,758		7,448,510
Advances from unrelated third parties
– Mr. Wenwu Yu	(e)		146,813		150,466
– Ms. Longqian Peng	(e)		654,230		670,505
– Jilin Province Trust Co. Ltd	(f)		-		5,900,446
			801,043		6,721,417
		$	14,147,801	$	14,169,927

(a) The Company received advances from Tianjin New Energy, a related company under the control of Mr. Xiangqian Li, the Company's former CEO, which was unsecured, non-interest bearing and repayable on demand. On November 1, 2016, Mr. Xiangqian Li ceased to be a shareholder but remained as a general manager of Tianjin New Energy.

On January 7, 2019, each of Mr. Dawei Li and Mr. Yunfei Li (the Company's CEO) entered into an agreement with CBAK Power and Tianjin New Energy whereby Tianjin New Energy assigned its rights to loans to CBAK Power of approximately $3.5 million (RMB23,980,950) and $1.7 million (RMB11,647,890) (collectively $5.2 million, the "First Debt") to Mr. Dawei Li and Mr. Yunfei Li, respectively.

On January 7, 2019, the Company entered into a cancellation agreement with Mr. Dawei Li and Mr. Yunfei Li (the creditors). Pursuant to the terms of the cancellation agreement, Mr. Dawei Li and Mr. Yunfei Li agreed to cancel the First Debt in exchange for 3,431,373 and 1,666,667 shares of common stock of the Company, respectively, at an exchange price of $1.02 per share. Upon receipt of the shares, the creditors will release the Company from any claims, demands and other obligations relating to the First Debt. The cancellation agreement contains customary representations and warranties of the creditors. The creditors do not have registration rights with respect to the shares.

On April 26, 2019, each of Mr. Jun Lang, Ms. Jing Shi and Asia EVK Energy Auto Limited ("Asia EVK") entered into an agreement with CBAK Power and Tianjin New Energy whereby Tianjin New Energy assigned its rights to loans to CBAK Power of approximately $0.3 million (RMB2,225,082), $0.1 million (RMB 912,204) and $5.3 million (RMB35,406,036) (collectively $5.7 million, the "Second Debt") to Mr. Jun Lang, Ms. Jing Shi and Asia EVK, respectively.

On April 26, 2019, the Company entered into a cancellation agreement with Mr. Jun Lang, Ms. Jing Shi and Asia EVK (the creditors). Pursuant to the terms of the cancellation agreement, the creditors agreed to cancel the Second Debt in exchange for 300,534, 123,208 and 4,782,163 shares of common stock of the Company, respectively, at an exchange price of $1.1 per share. Upon receipt of the shares, the creditors will release the Company from any claims, demands and other obligations relating to the Second Debt. The cancellation agreement contains customary representations and warranties of the creditors. The creditors do not have registration rights with respect to the shares.

(b) Advances from Mr. Xiangqian Li, the Company's former CEO, was unsecured, non-interest bearing and repayable on demand.

(c) Advances from Mr. Yunfei Li, the Company's CEO, was unsecured, non-interest bearing and repayable on demand.

(d) The refundable deposits paid by certain shareholders in relation to share purchase (note 1) were unsecured, non-interest bearing and repayable on demand.

(e) Advances from unrelated third parties were unsecured, non-interest bearing and repayable on demand.

(f) In January 2019, the Company obtained one-year term facilities from Jilin Province Trust Co. Ltd. with a maximum amount of RMB40.0 million (approximately $6.0 million), which was secured by land use rights and buildings of Eodos Liga Energy Co., Ltd.  Under the facilities, the Company borrowed RMB16.4 million ($2.4 million), RMB15.4 million ($2.3 million), RMB6.6 million ($1.0 million) and RMB1.2 million ($0.2 million) on February 1, 2019, February 22, 2019, March 8, 2019 and March 21, 2019 respectively.