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CBAK Energy Technology, Inc. – ‘10-Q’ for 3/31/12 – ‘R12’

On:  Thursday, 5/10/12, at 6:06am ET   ·   For:  3/31/12   ·   Accession #:  1204459-12-1016   ·   File #:  1-32898

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/10/12  CBAK Energy Technology, Inc.      10-Q        3/31/12   55:3M                                     Newsfile Cor… Toronto/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report -- form10q                         HTML    636K 
 6: EX-99.1     Miscellaneous Exhibit -- exhibit99-1                HTML     20K 
15: EX-99.10    Miscellaneous Exhibit -- exhibit99-10               HTML     19K 
16: EX-99.11    Miscellaneous Exhibit -- exhibit99-11               HTML     20K 
17: EX-99.12    Miscellaneous Exhibit -- exhibit99-12               HTML     19K 
18: EX-99.13    Miscellaneous Exhibit -- exhibit99-13               HTML     19K 
19: EX-99.14    Miscellaneous Exhibit -- exhibit99-14               HTML     20K 
20: EX-99.15    Miscellaneous Exhibit -- exhibit99-15               HTML     19K 
21: EX-99.16    Miscellaneous Exhibit -- exhibit99-16               HTML     19K 
22: EX-99.17    Miscellaneous Exhibit -- exhibit99-17               HTML     19K 
 7: EX-99.2     Miscellaneous Exhibit -- exhibit99-2                HTML     19K 
 8: EX-99.3     Miscellaneous Exhibit -- exhibit99-3                HTML     19K 
 9: EX-99.4     Miscellaneous Exhibit -- exhibit99-4                HTML     19K 
10: EX-99.5     Miscellaneous Exhibit -- exhibit99-5                HTML     16K 
11: EX-99.6     Miscellaneous Exhibit -- exhibit99-6                HTML     20K 
12: EX-99.7     Miscellaneous Exhibit -- exhibit99-7                HTML     19K 
13: EX-99.8     Miscellaneous Exhibit -- exhibit99-8                HTML     18K 
14: EX-99.9     Miscellaneous Exhibit -- exhibit99-9                HTML     19K 
 2: EX-31.1     Certification -- §302 - SOA'02 -- exhibit31-1       HTML     21K 
 3: EX-31.2     Certification -- §302 - SOA'02 -- exhibit31-2       HTML     21K 
 4: EX-32.1     Certification -- §906 - SOA'02 -- exhibit32-1       HTML     17K 
 5: EX-32.2     Certification -- §906 - SOA'02 -- exhibit32-2       HTML     17K 
40: R1          Document and Entity Information                     HTML     44K 
33: R2          Condensed interim consolidated balance sheets       HTML    139K 
38: R3          Condensed interim consolidated balance sheets       HTML     27K 
                (Parenthetical)                                                  
42: R4          Condensed interim consolidated statements of        HTML    102K 
                operations and comprehensive loss                                
52: R5          Condensed interim consolidated statements of cash   HTML    131K 
                flows                                                            
34: R6          Condensed interim consolidated statements of        HTML     50K 
                shareholders equity                                              
37: R7          Principal Activities, Basis of Presentation and     HTML     56K 
                Organization                                                     
32: R8          Pledged Deposits                                    HTML     20K 
30: R9          Trade Accounts Receivable, net                      HTML     29K 
53: R10         Inventories                                         HTML     24K 
44: R11         Prepayments and Other Receivables                   HTML     22K 
43: R12         Property, Plant and Equipment, net                  HTML     39K 
48: R13         Short-term Bank Loans                               HTML     23K 
49: R14         Long-term Bank Loans                                HTML     21K 
47: R15         Other Long-Term Loan                                HTML     17K 
50: R16         Deferred Revenue                                    HTML     19K 
39: R17         Other Long-term payables                            HTML     18K 
41: R18         Share-based Compensation                            HTML    129K 
46: R19         Net Loss per Share                                  HTML     21K 
55: R20         Fair Value of Financial Instruments                 HTML     31K 
51: R21         Commitments and Contingencies                       HTML     45K 
35: R22         Significant Concentrations                          HTML     27K 
45: R23         Segment Information                                 HTML     47K 
36: R24         Subsequent Events                                   HTML     17K 
54: XML         IDEA XML File -- Filing Summary                      XML     54K 
31: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    354K 
23: EX-101.INS  XBRL Instance -- cbak-20120331                       XML    487K 
25: EX-101.CAL  XBRL Calculations -- cbak-20120331_cal               XML    124K 
26: EX-101.DEF  XBRL Definitions -- cbak-20120331_def                XML    423K 
27: EX-101.LAB  XBRL Labels -- cbak-20120331_lab                     XML    462K 
28: EX-101.PRE  XBRL Presentations -- cbak-20120331_pre              XML    464K 
24: EX-101.SCH  XBRL Schema -- cbak-20120331                         XSD     73K 
29: ZIP         XBRL Zipped Folder -- 0001204459-12-001016-xbrl      Zip     69K

‘R12’   —   Property, Plant and Equipment, net

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v2.4.0.6
Property, Plant and Equipment, net
 6 Months Ended
Property, Plant and Equipment, net [Text Block]
6 Property, Plant and Equipment, net

Property, plant and equipment as of September 30, 2011 and March 31, 2012 consisted of the following:

    September 30,     March 31,  
    2011     2012  
Buildings $ 127,025,347   $ 129,771,228  
Machinery and equipment   159,355,671     166,862,662  
Office equipment   2,519,208     2,577,421  
Motor vehicles   1,453,456     1,460,843  
    290,353,682     300,672,154  
Accumulated depreciation   (80,673,667 )   (91,699,519 )
Construction in progress   45,305,701     45,489,683  
Prepayment for acquisition of property, plant and equipment   1,466,207     2,275,061  
Assets held for abandonment   744,356     767,303  
Net book value   257,196,279     257,504,682  
Impairment charge   (13,958,165 )   (16,887,157 )
Carried amount $ 243,238,114   $ 240,617,525  
     
  (i)

Depreciation expense for the six months ended March 31, 2011 and 2012 is included in the condensed interim consolidated statements of operations and comprehensive loss as follows:


    Six months ended March 31,  
    2011     2012  
Cost of revenues $ 6,743,209   $ 7,411,674  
Research and development expenses   208,154     289,785  
Sales and marketing expenses   243,916     86,861  
General and administrative expenses   1,292,048     1,639,477  
  $ 8,487,327   $ 9,427,797  

  (ii) Construction in Progress

Construction in progress mainly comprises capital expenditures for construction of the Company’s new corporate campus, including offices and factories.

For the six months ended March 31, 2011 and 2012, the Company capitalized interest of US$240,449 and US$770,353 respectively to the cost of construction in progress.

  (iii) Pledged Property, Plant and Equipment

As of September 30, 2011 and March 31, 2012, machinery and equipment with net book value of US$56,376,435 and US$51,180,603 of the Company were pledged as collateral under certain loan arrangements (see Notes 7).

  (iv) Assets held for abandonment

Assets held for abandonment as of September 30, 2011 and March 31, 2012 consisted of the following:

    September 30,     March 31,  
    2011     2012  
Net book value $ 744,356     767,303  
Less: impairment charge   (744,356 )   (767,303 )
Carried amount $ -     -  

The carried amount as of September 30, 2011 and March 31, 2012 composed of the machinery and equipment relating to steel-case cell production line and certain used assets which have been written down to nil.

  (v) Impairment Charge

During the course of the Company’s strategic review of its operations, the Company assessed the recoverability of the carrying value of certain property, plant and equipment which resulted in impairment losses of approximately US$2.7 million for the six months period ended March 31, 2012. No impairment charged for the six months period ended March 31, 2011.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:5/10/12
For Period end:3/31/12
9/30/1110-K,  ARS
3/31/1110-Q
9/15/09
 List all Filings 
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Filing Submission 0001204459-12-001016   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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