Core Viewpoint - CBAK Energy Technology, Inc. has achieved significant growth in the large cylindrical battery market, capturing a notable share and contributing to the overall expansion of the global cylindrical battery sector in 2024 [1][5][6] Group 1: Market Performance - Global shipments of Series 32 large cylindrical batteries, including CBAK's 32140 cells, reached 102 million units in 2024, reflecting a year-over-year increase of 14.29% [2] - CBAK Energy delivered 19.42 million units of its 32140 large cylindrical batteries, securing approximately 19% of the global market share for Series 32 batteries [2] - Total global shipments of large cylindrical batteries, including Series 32 and Series 40, amounted to 175 million units in 2024, with CBAK's 32140 cells representing an estimated 11.1% of this total [3] Group 2: Product Expansion - CBAK Energy also shipped around 32.04 million units of its 26650 and 26700 cylindrical batteries in 2024, capturing about 6.4% of the combined global market share for other cylindrical battery series [4] - The overall cylindrical battery market saw total shipments of 14.61 billion units in 2024, marking a 10.9% year-over-year increase, driven by demand across various applications [5] - CBAK Energy's production lines for 32140 batteries are operating at full capacity to meet rising demand, and the company plans to launch its 40135 cylindrical cells in 2025 [5] Group 3: Company Overview - CBAK Energy is a leading manufacturer of lithium-ion and sodium-ion batteries in China, focusing on high-power applications such as electric vehicles and energy storage solutions [7] - The company has a significant presence in the market, being the first lithium battery manufacturer in China listed on the Nasdaq Stock Market [7]

Core Insights - CBAK Energy Technology, Inc. has secured purchase orders for its Model 32140 cylindrical lithium-ion battery cells from Ather Energy, a leading electric two-wheeler manufacturer in India, indicating a strategic partnership in the growing electric vehicle market [1][2][3] Company Overview - CBAK Energy is a prominent manufacturer of lithium-ion and sodium-ion batteries, focusing on electric energy solutions in China, with a significant presence in the electric vehicle sector [1][4] - The company was the first lithium battery manufacturer in China to be listed on the Nasdaq Stock Market in January 2006 and has multiple subsidiaries and a large R&D base in Dalian [4] Market Position - The Model 32140 battery cells are positioned as highly competitive products in the electric two-wheeler, three-wheeler, and light electric vehicle markets, reflecting the increasing demand for advanced battery solutions in India's expanding EV market [2][3] - Ather Energy's decision to integrate CBAK Energy's battery cells into its electric two-wheelers is expected to lead to a long-term partnership and consistent order flow, enhancing CBAK Energy's market share in the region [2][3] Strategic Partnerships - CBAK Energy has established partnerships with various notable clients, including Viessmann Group, PowerOak, and Anker Innovations, indicating a strong order pipeline and diverse client base [3]

Core Viewpoint - CBAK Energy is accelerating its Phase II project in Nanjing to meet the increasing demand for its lithium-ion battery cells, with plans for significant capacity expansion by late 2025 [2][6]. Group 1: Project Overview - The Nanjing project consists of two phases, with Phase I having started mass production of 32140 large cylindrical lithium-ion cells in late 2021, achieving an actual capacity of approximately 1.3GWh [1]. - Phase II aims to expand production capacity to a planned 27GWh, with the first two production lines expected to enter trial production by May 2025 and full-scale mass production anticipated by late 2025 [1][6]. Group 2: Production Capacity and Equipment - The two production lines in Phase II are designed for the production of Model 32140 battery cells, with modifications allowing for the production of the upgraded Model 40135 cells, which are suited for portable power supply and home energy storage [7]. - The annual production capacity of these two lines is projected to be approximately 3GWh [7]. Group 3: Company Background - CBAK Energy Technology, Inc. is a leading high-tech enterprise in China focused on the development, manufacturing, and sales of new energy high power lithium batteries and related raw materials [2]. - The company has multiple subsidiaries in Dalian, Nanjing, and Shaoxing, along with a large-scale R&D and production base in Dalian [2].

Core Viewpoint - CBAK Energy Technology, Inc. has secured significant orders from Anker Innovations, marking a key partnership milestone and reflecting the growing demand for its lithium-ion and sodium-ion batteries [1][2][7]. Group 1: Company Overview - CBAK Energy is a leading manufacturer of lithium-ion and sodium-ion batteries in China, focusing on electric energy solutions [1][8]. - The company became the first lithium battery manufacturer in China to be listed on the Nasdaq Stock Market in January 2006 [8]. Group 2: Recent Developments - CBAK Energy's subsidiary, Nanjing CBAK, received orders valued between RMB 200 million and RMB 250 million (approximately USD 30 million to USD 35 million) from Anker Innovations for 2024 [1]. - Anker Innovations has been a consistent customer since 2022, becoming one of CBAK Energy's top five customers, primarily ordering Model 32140 large LFP cylindrical batteries [7]. Group 3: Future Outlook - The company anticipates maintaining or exceeding the value of orders received in 2024 in the following year and is in discussions with Anker Innovations for potential future collaborations, including expanding capacity in overseas markets [7].

Financial Data and Key Metrics - Net revenue from the battery business slightly declined to $33.5 million in Q3 2024, but overall revenue for the first three quarters grew 18.4% year-on-year to $114 million [6] - Gross profit margin for the battery business reached 34.3% in the first three quarters, an increase of 15.2 percentage points compared to the same period in 2023 [10] - Net profit for the battery business was $11.68 million in Q1, $7.89 million in Q2, and $2.04 million in Q3, totaling approximately $21.6 million for the first three quarters [11] Business Line Data and Key Metrics - Revenue from the energy storage sector reached $33.46 million, a 25% decrease year-on-year [8] - EV battery revenue was $333,000, a 17% decrease compared to the same period last year [9] - Revenue from light electric vehicles (LEVs) increased by 341% year-on-year to $4.9 million, driven by demand from India and Vietnam [9][29] Market Data and Key Metrics - Accumulated orders with PowerOAK reached approximately $11.35 million, with Viessmann Group at $233 million, and Jinpeng Group at $9.42 million [13] - Orders from Anker totaled $45.12 million since collaboration began, with clients encouraging overseas factory expansion [14] Company Strategy and Industry Competition - The company is accelerating capacity expansion plans, particularly for the Nanjing factory, which is operating at full capacity due to high demand for model 32140 cells [16] - Development of new battery models, such as the 40135 large cylindrical battery and the tablet model 26650 cylindrical battery, is progressing, with mass production expected soon [16][17] - The company is exploring overseas expansion, with the U.S. under consideration, and is seeking domestic partners to manage operations [30][31] Management Commentary on Operating Environment and Future Outlook - The company anticipates a gradual return to more typical gross margin levels, though still higher than industry competitors [23] - Management remains optimistic about future performance, driven by the profitability of both Dalian and Nanjing factories and expanded capacity in Nanjing [24] Other Important Information - The Dalian factory underwent a 1-month production suspension in September for refurbishment and energy cost optimization, which impacted Q3 revenue [7][22] - The Nanjing factory achieved profitability ahead of schedule, less than three years after starting operations [15] Q&A Session Summary Question: What caused the weakness in the battery business? - The decline in Q3 revenue was primarily due to a 1-month production suspension at the Dalian factory for refurbishment and energy cost optimization [21][28] Question: How frequently will maintenance shutdowns occur? - The shutdown at Dalian was planned and related to upgrading production lines, with no fixed frequency mentioned [27][28] Question: Is LEV demand mainly from India and Vietnam? - Yes, the LEV business is primarily driven by demand from Southeast Asia, including India and Vietnam, due to their reliance on imported batteries [29] Question: Any details on overseas expansion? - Overseas expansion is client-driven, with the U.S. under consideration, and the company is seeking domestic partners to manage operations [30][31]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 88-0442833 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value CBAT Nasdaq Capital Market Class of Securities Shares Outstanding Common Stock, $0.001 par value 89,939,190 FORM 10−Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...

Exhibit 99.1 CBAK Energy Reports Third Quarter & First Nine Months of 2024 Unaudited Financial Results DALIAN, China, November 12, 2024 /PRNewswire/ -- 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. First nine months of 2024 Financial Highlights ● Net revenues from sales of batteries were ...

DALIAN, China, Nov. 12, 2024 /PRNewswire/ -- 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.First nine months of 2024 Financial Highlights Net revenues from sales of batteries were $113.9 million, an increase of 18.4% from $96.2 million in the same period of 2023. Net revenues from batteri ...

DALIAN, China, Nov. 4, 2024 /PRNewswire/ -- 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 announced that it will report its unaudited financial results for the third quarter ended September 30, 2024 on Tuesday, November 12, 2024, before the U.S. market opens. The earnings results will be available on the Company's Investor Relations website, and will be filed with the Securities ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 001-32898 CBAK ENERGY TECHNOLOGY, INC. (Exact Name of Registrant as Specified in Its Charter) | --- | --- ...