CBAK Energy Technology Inc
NASDAQ:CBAT

  • LAST PRICE
    0.8694
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    0.8750/ 3
  • Ask / Lots
    0.8890/ 1
  • Open / Previous Close
    --- / 0.8694
  • Day Range
    ---
  • 52 Week Range
    0.7900
    2.0800
  • Volume
    1,005

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  • Nov 12, 2024

      Show headlines and story abstract

    • 5:13AM ET on Tuesday Nov 12, 2024 by MT Newswires
      Companies Mentioned: CBAT
      05:13 AM EST, 11/12/2024 (MT Newswires) -- ...

    • 5:00AM ET on Tuesday Nov 12, 2024 by PR Newswire
      Companies Mentioned: CBAT

      CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy," or the "Company") a leading lithium-ion battery manufacturer and electric energy solution provider in China, today reported its unaudited financial results for the third quarter 2024 ended September 30, 2024.

    • 5:00AM ET on Tuesday Nov 12, 2024 by Dow Jones
      Companies Mentioned: CBAT

    • 5:00AM ET on Tuesday Nov 12, 2024 by Dow Jones
      Companies Mentioned: CBAT
      Additional paid-in capital 247,465,817 247,732,612 Statutory reserves 1,230,511 1,230,511 Accumulated deficit (134,395,762) (118,096,203) Accumulated other comprehensive loss (11,601,403) (10,127,774) ------------- ------------- 116,890,915 134,930,918 Less: Treasury shares (4,066,610) (4,066,610) ------------- ------------- Total shareholders' equity 112,824,305 130,864,308 Non-controlling interests 634,036 (782,945) ------------- ------------- Total equity 113,458,341 130,081,363 ------------- ------------- Total liabilities and shareholder's equity $ 281,155,260 $ 293,477,354 ============= ============= CBAK Energy Technology, Inc. and Subsidiaries Condensed consolidated Statements of Operations and Comprehensive Income (Loss) For the three and nine months ended September 30, 2023 and 2024 (Unaudited) (In US$ except for number of shares) Three months ended Nine months ended September 30, September 30, ---------------------------- ------------------------------ 2023 2024 2023 2024 ------------- ------------- -------------- -------------- Net revenues $ 63,441,109 $ 44,628,241 $ 148,258,680 $ 151,243,718 Cost of revenues (51,192,531) (37,673,684) (129,219,716) (112,780,088) ------------ ------------ ------------- ------------- Gross profit 12,248,578 6,954,557 19,038,964 38,463,630 ------------ ------------ ------------- ------------- Operating expenses: Research and development expenses (2,577,714) (3,434,351) (8,013,760) (9,205,378) Sales and marketing expenses (1,116,377) (1,022,549) (2,800,969) (4,114,954) General and administrative expenses (3,240,770) (2,779,519) (9,302,798) (10,002,040) (Provision for) recovery of doubtful accounts (24,623) (546,011) (286,283) 241,332 ------------ ------------ ------------- ------------- Total operating expenses (6,959,484) (7,782,430) (20,403,810) (23,081,040) ------------ ------------ ------------- ------------- Operating income (loss) 5,289,094 (827,873) (1,364,846) 15,382,590 Finance (expense) income, net (447,031) (40,350) (189,248) 658,034 Other income, net 601,654 521,916 1,022,907 1,031,329 Gain on disposal of equity investee - 55 - 26,967 Change in fair value of warrants 15,000 - 136,000 - ------------ ------------ ------------- ------------- Income (loss) before income tax 5,458,717 (346,252) (395,187) 17,098,920 Income tax credit (expenses) 305,431 (339,287) 1,015,626 (2,188,800) ------------ ------------ ------------- ------------- Net income (loss) 5,764,148 (685,539) 620,439 14,910,120 Less: Net loss attributable to non- controlling interest 570,644 703,186 1,699,008 1,389,439 ------------ ------------ ------------- ------------- Net income (loss) attributable to CBAK Energy Technology, Inc. $ 6,334,792 $ 17,647 $ 2,319,447 $ 16,299,559 ============ ============ ============= ============= Net income (loss) 5,764,148 (685,539) 620,439 14,910,120 Other comprehensive loss -- Foreign currency translation adjustment (515,279) 4,181,904 (6,405,609) 1,446,087 ------------ ------------ ------------- ------------- Comprehensive (loss) income 5,248,869 3,496,365 (5,785,170) 16,356,207 Less: Comprehensive (loss) income attributable to non-controlling interest 553,874 719,587 1,927,515 1,416,981 ------------ ------------ ------------- ------------- Comprehensive (loss) income attributable to CBAK Energy Technology, Inc. $ 5,802,743 $ 4,215,952 $ (3,857,655) $ 17,773,188 ============ ============ ============= ============= Income (loss) per share -- Basic $ 0.07 $ 0.00 $ 0.03 $ 0.18 ------------ ------------ ------------- ------------- -- Diluted $ 0.07 $ 0.00 $ 0.03 $ 0.18 ------------ ------------ ------------- ------------- Weighted average number of shares of common stock: -- Basic 89,473,026 89,931,617 89,171,988 89,929,477 ============ ============ ============= ============= -- Diluted 89,904,319 90,229,849 89,582,401 90,267,431 ============ ============ ============= =============

  • Nov 4, 2024