CBAK Energy Technology, Inc. (CBAT) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
BAK INDUSTRIAL PARK, MEIGUI STREET DALIAN, 116422 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| Industry (SIC) | 369 - Miscellaneous Electrical Machinery, Equipment, and Supplies (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 6,519 | 7,358 | 11,682 | 1,613 | 450 | 1,645 | |||
| Cash and cash equivalents | 6,519 | 7,358 | 11,682 | 1,613 | 450 | 1,645 | |||
| Net investment in lease, before allowance for credit loss | 235 | ✕ | ✕ | ||||||
| Receivables | 27,414 | 49,907 | 34,164 | 12,131 | 27,165 | 57,519 | |||
| Inventory, net of allowances, customer advances and progress billings | 49,446 | 30,133 | 5,253 | 8,667 | 9,622 | 9,832 | |||
| Inventory | 49,446 | 30,133 | 5,253 | 8,667 | 9,622 | 9,832 | |||
| Prepaid expense | 529 | 317 | 309 | ||||||
| Deposits current assets | 8,990 | 5,521 | 17,240 | 9,104 | |||||
| Other current assets | 125,707 | 122,842 | |||||||
| Other undisclosed current assets | 2,318 | 240 | 1,584 | 7,145 | |||||
| Total current assets: | 209,086 | 210,240 | 63,170 | 28,489 | 56,370 | 85,244 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 7,194 | ✕ | ✕ | ||||||
| Operating lease, right-of-use asset | 1,265 | 1,968 | 7,501 | 7,194 | ✕ | ✕ | |||
| Net investment in lease, before allowance for credit loss | 850 | ✕ | ✕ | ||||||
| Property, plant and equipment | 90,005 | 90,043 | 41,040 | 38,178 | 38,909 | 34,966 | |||
| Long-term investments and receivables | 776 | ||||||||
| Due from related parties | 63 | ||||||||
| Long-term investments | 713 | ||||||||
| Intangible assets, net (including goodwill) | 1,309 | 3,607 | 12 | 15 | 21 | 20 | |||
| Goodwill | 1,645 | ||||||||
| Intangible assets, net (excluding goodwill) | 1,309 | 1,962 | 12 | 15 | 21 | 20 | |||
| Asset, held-in-trust | 839 | ||||||||
| Deferred income tax assets | 2,487 | 1,404 | ✕ | ✕ | |||||
| Other undisclosed noncurrent assets | 30,193 | 14,513 | 32,285 | 32,902 | |||||
| Total noncurrent assets: | 95,065 | 98,636 | 79,597 | 67,095 | 71,214 | 67,887 | |||
| Other undisclosed assets | (60,118) | (46,258) | |||||||
| TOTAL ASSETS: | 244,033 | 262,618 | 142,767 | 95,584 | 127,584 | 153,131 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 35,504 | 22,964 | 156 | 16,098 | 27,472 | 65,617 | |||
| Employee-related liabilities | ✕ | ✕ | 2,595 | 2,473 | |||||
| Accounts payable | 32,516 | 40,353 | 11,157 | 23,134 | 65,617 | ||||
| Accrued liabilities | 2,988 | 128 | 156 | 2,346 | 1,865 | ||||
| Other undisclosed accounts payable and accrued liabilities | (17,517) | ||||||||
| Debt | 15,752 | 12,646 | 15,145 | 19,564 | 4,252 | 152 | |||
| Derivative instruments and hedges, liabilities | 136 | 5,846 | 17,783 | ||||||
| Due to related parties | 4,282 | 399 | 13,347 | 22,303 | |||||
| Other liabilities | 7,456 | 7,352 | 14,148 | 14,636 | |||||
| Other undisclosed current liabilities | 60,541 | 59,573 | 40,625 | 15,586 | 33,730 | 14,209 | |||
| Total current liabilities: | 111,934 | 112,767 | 73,709 | 58,998 | 92,949 | 116,917 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 876 | 7,305 | 13,638 | 24,927 | 24,202 | ||||
| Long-term debt, excluding current maturities | 7,305 | 13,638 | 24,927 | 24,202 | |||||
| Liabilities, other than long-term debt | 6,184 | 6,189 | 1,836 | 2,247 | 2,251 | 2,280 | |||
| Accounts payable and accrued liabilities | 1,836 | 2,247 | 2,251 | 2,280 | |||||
| Deferred revenue | 5,577 | 6,189 | ✕ | ✕ | |||||
| Operating lease, liability | 607 | 876 | ✕ | ✕ | |||||
| Other undisclosed noncurrent liabilities | 1,536 | 1,900 | 7,511 | 7,043 | 7,129 | 7,537 | |||
| Total noncurrent liabilities: | 7,720 | 8,966 | 16,652 | 22,927 | 34,307 | 34,019 | |||
| Total liabilities: | 119,654 | 121,733 | 90,360 | 81,926 | 127,256 | 150,936 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 117,495 | 133,292 | 52,399 | 13,605 | 315 | 2,196 | |||
| Common stock | 89 | 89 | 79 | 53 | 27 | 26 | |||
| Treasury stock, value | (4,067) | (4,067) | (4,067) | (4,067) | (4,067) | (4,067) | |||
| Additional paid in capital | 246,241 | 241,946 | 225,278 | 180,209 | 155,932 | 155,711 | |||
| Accumulated other comprehensive income (loss) | (8,154) | 2,489 | (240) | (1,745) | (1,499) | (1,341) | |||
| Accumulated deficit | (131,947) | (122,498) | (183,984) | (176,177) | (165,410) | (163,467) | |||
| Other undisclosed equity, attributable to parent | 15,332 | 15,332 | 15,332 | 15,332 | 15,332 | 15,332 | |||
| Equity, attributable to noncontrolling interest | 6,883 | 7,593 | 8 | 53 | 12 | ||||
| Total equity: | 124,378 | 140,885 | 52,407 | 13,658 | 327 | 2,196 | |||
| TOTAL LIABILITIES AND EQUITY: | 244,033 | 262,618 | 142,767 | 95,584 | 127,584 | 153,131 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 248,725 | 52,670 | 37,566 | 22,194 | 24,433 | 58,375 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 58,375 | |
| Cost of revenue | (230,630) | (47,559) | (34,852) | (21,572) | (27,732) | (68,571) | ||
| Cost of goods and services sold | (18,433) | (2,741) | (26,062) | (25,505) | (160) | (5,777) | ||
| Gross profit: | 18,095 | 5,110 | 2,714 | 623 | (3,299) | (10,195) | ||
| Operating expenses | (29,600) | (16,823) | (11,194) | (10,711) | (10,140) | (10,982) | ||
| Other operating income, net | 2,041 | |||||||
| Other undisclosed operating loss | (2,041) | |||||||
| Operating loss: | (11,505) | (11,713) | (8,480) | (10,089) | (13,439) | (21,178) | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (7,252) | 3,644 | (40) | 620 | 12,316 | (45) | ||
| Interest and debt expense | (2,858) | (340) | (1,710) | (2,293) | (2,271) | |||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 2,383 | 909 | 1,436 | (245) | ||||
| Loss from continuing operations before equity method investments, income taxes: | (21,615) | (8,408) | (7,847) | (10,853) | (1,957) | (21,467) | ||
| Other undisclosed income from continuing operations before income taxes | 9,059 | 62,234 | ||||||
| Income (loss) from continuing operations before income taxes: | (12,556) | 53,826 | (7,847) | (10,853) | (1,957) | (21,467) | ||
| Income tax benefit | 1,228 | 7,733 | ||||||
| Income (loss) from continuing operations: | (11,328) | 61,559 | (7,847) | (10,853) | (1,957) | (21,467) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 58,848 | (7,847) | (10,853) | (1,957) | (21,467) | ||
| Loss from discontinued operations | (2,711) | |||||||
| Other undisclosed net income | 2,711 | |||||||
| Net income (loss): | (11,328) | 61,559 | (7,847) | (10,853) | (1,957) | (21,467) | ||
| Net income (loss) attributable to noncontrolling interest | 1,879 | (73) | 40 | 86 | 14 | |||
| Other undisclosed net income attributable to parent | 73 | |||||||
| Net income (loss) attributable to parent: | (9,448) | 61,559 | (7,807) | (10,768) | (1,943) | (21,467) | ||
| Other undisclosed net loss available to common stockholders, basic | (73) | |||||||
| Net income (loss) available to common stockholders, basic: | (9,448) | 61,486 | (7,807) | (10,768) | (1,943) | (21,467) | ||
| Other undisclosed net income available to common stockholders, diluted | ||||||||
| Net income (loss) available to common stockholders, diluted: | (9,448) | 61,486 | (7,807) | (10,768) | (1,943) | (21,467) | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (11,328) | 61,559 | (7,847) | (10,853) | (1,957) | (21,467) | ||
| Other comprehensive loss | ||||||||
| Other undisclosed comprehensive loss | ||||||||
| Comprehensive income (loss): | (11,328) | 61,559 | (7,847) | (10,853) | (1,957) | (21,467) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 2,426 | (70) | 45 | 87 | 15 | |||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (11,189) | 2,726 | 1,500 | (246) | (159) | 621 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (20,091) | 64,215 | (6,302) | (11,013) | (2,102) | (20,846) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.