Core Insights - CBAK Energy Technology, Inc. reported a strong recovery in its third quarter of 2025, with net revenues reaching $60.92 million, a 36.5% increase from $44.63 million in the same period of 2024, primarily driven by the recovery in the battery raw materials segment [3][4][14]. Financial Performance - **Third Quarter 2025 Results**: - Net revenues were $60.92 million, up 36.5% year-over-year from $44.63 million [3][4]. - Net income attributable to CBAK Energy was $2.65 million, a significant increase of 150.2% from $17,647 in the same period of 2024 [9][4]. - The battery business generated net revenues of $33.71 million, a slight increase of 0.7% from $33.46 million in Q3 2024, but gross profits decreased by 42.4% to $4.42 million, resulting in a gross margin of 13.1% [3][4][8]. - The raw materials segment, Hitrans, saw net revenues of $27.22 million, a 143.7% increase from $11.17 million in Q3 2024 [3][4]. - **First Nine Months 2025 Results**: - Total net revenues were $136.39 million, a decrease of 9.8% from $151.24 million in the same period of 2024, primarily due to weaker performance in the battery business [10][11]. - Net income for the first nine months was $2.80 million, down 87.1% from $21.61 million in the same period of 2024 [10][13]. - The battery business reported net revenues of $75.16 million, a decline of 34.0% year-over-year [10][11]. Segment Performance - **Battery Business**: - The battery segment's net income was $4.53 million, up 122.7% from $2.04 million in Q3 2024, driven by strong demand for the Model 32140 [4][9]. - The transition to upgraded products has temporarily affected sales, leading to a decrease in gross profit and a modest increase in net revenues [6][8]. - **Hitrans Segment**: - Hitrans achieved a gross profit of $460,438, a turnaround from a gross loss of $710,452 in Q3 2024, indicating improved profitability [3][4][11]. - The segment's net loss narrowed to $2.11 million, an 18.8% improvement from $2.60 million in the same period of 2024 [4][11]. Operational Developments - The company is undergoing a product portfolio upgrade, which has temporarily impacted sales of legacy products [6][15]. - The new Model 40135 production line is expected to add 2.3 GWh of annual capacity, while the Nanjing production lines will contribute an additional 2 GWh for the Model 32140 [15][14].

Group 1 - The article does not provide any specific content related to a company or industry [1]

Core Viewpoint - CBAK Energy Technology, Inc. will report its unaudited financial results for Q3 2025 on November 10, 2025, before the U.S. market opens [1] Group 1: Financial Reporting - The earnings results will be available on the Company's Investor Relations website and filed with the SEC on Form 8-K [1] - An earnings conference call is scheduled for November 10, 2025, at 7:00 AM U.S. Eastern Time [2] Group 2: Participation Details - Participants wishing to join the call online can register through a provided link and must register at least 15 minutes prior to the call [3] - A replay of the conference call will be accessible within seven days after the live call [4] Group 3: Company Overview - CBAK Energy is a leading high-tech enterprise in China focused on the development, manufacturing, and sales of new energy high power lithium and sodium batteries [5] - The Company became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market in January 2006 [5] - CBAK Energy operates multiple subsidiaries in various cities and has a large-scale R&D and production base in Dalian [5]

Core Viewpoint - CBAK Energy Technology, Inc. has successfully upgraded its product portfolio with the launch of the new Model 40135 battery, which offers larger size and higher capacity compared to its previous flagship product, Model 32140 [1][4]. Group 1: Product Development and Production - Dalian CBAK has invested in a new production line to transition from the older Model 26650 to the new Model 40135, which is currently being tested by major customers [2]. - The new production line has achieved an initial daily production capacity of approximately 20,000 cells, with around 500,000 cells delivered in the first month, generating about US$2 million in revenue [3]. - The company anticipates ramping up production to about 100,000 cells per day by the end of the year, with pending orders totaling approximately 1.2 million cells, representing an estimated US$5 million in revenue [3]. Group 2: Market Position and Future Outlook - CBAK Energy's product portfolio now includes both small and large cylindrical cell models, indicating a commitment to continuous R&D and adaptation to market needs [4]. - The strong inflow of orders for the Model 40135 has bolstered the company's confidence in achieving new sales performance highs [4]. - The company is also looking forward to completing the first phase of expansion at its Nanjing facility, with further updates expected [4]. 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 [5]. - The company's products are utilized in various applications, including electric vehicles, energy storage, and uninterruptible power supply systems [5].

PART I FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements.) The company's unaudited statements show decreased revenue, a net loss, a working capital deficit, and a going concern warning [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets and liabilities grew, driven by construction in progress and increased payables, resulting in decreased total equity Condensed Consolidated Balance Sheet Highlights (in US$) | Account | December 31, 2024 | June 30, 2025 | | :--- | :--- | :--- | | **Total Current Assets** | $141,396,860 | $143,447,915 | | **Total Assets** | $302,218,144 | $333,094,266 | | **Total Current Liabilities** | $171,700,980 | $199,414,338 | | **Total Liabilities** | $182,150,979 | $217,250,126 | | **Total Equity** | $120,067,165 | $115,844,139 | [Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20(Loss)) The company experienced a significant profitability downturn, with decreased net revenues leading to a net loss for Q2 and H1 2025 Key Performance Indicators (in US$) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net Revenues** | $40,524,333 | $47,793,045 | $75,463,234 | $106,615,477 | | **Gross Profit** | $4,462,409 | $12,728,026 | $9,264,143 | $31,509,073 | | **Operating Income (Loss)** | ($3,528,576) | $5,947,480 | ($6,392,595) | $16,210,463 | | **Net Income (Loss)** | ($3,360,398) | $6,023,185 | ($5,411,380) | $15,595,659 | | **Diluted EPS** | ($0.03) | $0.07 | ($0.05) | $0.18 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash from operations decreased while cash used in investing increased, driven by equipment purchases and loan repayments Cash Flow Summary for the Six Months Ended June 30 (in US$) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $4,147,364 | $10,389,049 | | **Net cash used in investing activities** | ($20,614,071) | ($16,952,026) | | **Net cash used in financing activities** | ($24,574,107) | ($31,571,178) | | **Net decrease in cash and cash equivalents** | ($39,333,780) | ($38,695,249) | | **Cash and cash equivalents at end of period** | $21,452,222 | $20,127,567 | [Notes to the Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Notes reveal substantial doubt about going concern status, a new stock repurchase program, and segment operating details - The company's financial condition, including an accumulated deficit and working capital deficiency, raises **substantial doubt about its ability to continue as a going concern**[76](index=76&type=chunk) - On May 20, 2025, the company authorized a **stock repurchase program for up to $20 million**; as of June 30, 2025, 1,087,981 shares were repurchased for **$1.2 million**[71](index=71&type=chunk) - The company operates in two segments: **CBAK (lithium-ion batteries)** and **Hitrans (NCM precursor and cathode materials)**[248](index=248&type=chunk) Revenue by Segment (Three Months Ended June 30, 2025) | Segment | Net Revenues (in US$) | | :--- | :--- | | CBAT | $21,090,137 | | Hitrans | $19,434,196 | | **Total** | **$40,524,333** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=54&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management attributes a 15% Q2 revenue drop and operating loss to a product line upgrade, highlighting liquidity pressure [Results of Operations](index=56&type=section&id=Results%20of%20Operations) Q2 net revenues fell 15% due to a sharp decline in residential battery sales, causing a 65% drop in gross profit Comparison of Three Months Ended June 30 (in thousands of US$) | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | **Net Revenues** | $40,524 | $47,794 | -15% | | **Gross Profit** | $4,462 | $12,729 | -65% | | **Operating Income (Loss)** | ($3,529) | $5,948 | -159% | | **Net Income (Loss) Attributable to Shareholders** | ($3,073) | $6,446 | -148% | - The revenue decrease was primarily due to a **45% decline in sales of batteries for residential energy supply**, stemming from a product portfolio upgrade[279](index=279&type=chunk) - Net revenues from sales of battery materials **increased by 59%** as the raw materials division expanded its market presence and secured new customers[280](index=280&type=chunk) [Liquidity and Capital Resources](index=61&type=section&id=Liquidity%20and%20Capital%20Resources) Significant liquidity constraints are evident from a working capital deficit, raising substantial doubt about its going concern status - As of June 30, 2025, the company had a **net working capital deficit of $56.0 million** and an **accumulated deficit of $129.1 million**, raising substantial doubts about its ability to continue as a going concern[313](index=313&type=chunk)[314](index=314&type=chunk) - Capital expenditures for H1 2025 were **$22.3 million**, with an estimated total of **$50.0 million for the full fiscal year**[362](index=362&type=chunk) Summary of Cash Flows for Six Months Ended June 30 (in thousands of US$) | Period | Net cash provided by operating activities | Net cash used in investing activities | Net cash used in financing activities | | :--- | :--- | :--- | :--- | | **2025** | $4,147 | ($20,614) | ($24,574) | | **2024** | $10,389 | ($16,952) | ($31,571) | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=68&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company states this section is not applicable for the current reporting period - The company states this item is **'Not applicable'**[366](index=366&type=chunk) [Item 4. Controls and Procedures](index=68&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded disclosure controls were ineffective due to material weaknesses in accounting policies and personnel expertise - Management concluded that **disclosure controls and procedures were ineffective** as of June 30, 2025[368](index=368&type=chunk) - Identified material weaknesses include a **lack of appropriate accounting policies** and **insufficient skilled personnel with U.S. GAAP experience**[369](index=369&type=chunk)[371](index=371&type=chunk) PART II OTHER INFORMATION [Item 1. Legal Proceedings](index=69&type=section&id=Item%201.%20Legal%20Proceedings.) A settled lawsuit resulted in a $2.2 million capital commitment for equipment not yet received as of the reporting date - A lawsuit with Haoneng was settled, obligating CBAK Power to purchase equipment, resulting in a **capital commitment of $2.2 million** (RMB 15,120,000)[239](index=239&type=chunk) [Item 1A. Risk Factors](index=69&type=section&id=Item%201A.%20Risk%20Factors.) No material changes were reported to the risk factors disclosed in the 2024 Annual Report - There are **no material changes** from the risk factors disclosed in the 2024 Annual Report on Form 10-K[374](index=374&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=69&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) The company initiated a $20 million stock repurchase program and bought back 1,087,981 shares during the quarter Issuer Repurchases of Equity Securities (Q2 2025) | Period | Total Shares Purchased | Average Price Paid Per Share ($) | Value of Shares that May Yet Be Purchased ($) | | :--- | :--- | :--- | :--- | | May 2025 | 33,539 | 0.945 | 19,968,305 | | June 2025 | 1,054,442 | 1.134 | 18,762,880 | | **Total** | **1,087,981** | **-** | **18,762,880** | [Item 3. Defaults Upon Senior Securities](index=69&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities.) No defaults upon senior securities were reported during the period - **None reported**[378](index=378&type=chunk) [Item 4. Mine Safety Disclosures](index=69&type=section&id=Item%204.%20Mine%20Safety%20Disclosures.) This section is not applicable to the company - **Not applicable**[379](index=379&type=chunk) [Item 5. Other Information](index=69&type=section&id=Item%205.%20Other%20Information.) No director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the quarter - **No director or officer adopted or terminated a Rule 10b5-1 trading plan** during the fiscal quarter[380](index=380&type=chunk) [Item 6. Exhibits](index=70&type=section&id=Item%206.%20Exhibits.) Filed exhibits include officer certifications required by the Sarbanes-Oxley Act and interactive data files - Exhibits filed include **certifications from the CEO and CFO** pursuant to the Sarbanes-Oxley Act of 2002, along with XBRL data files[381](index=381&type=chunk)

Group 1 - The stock price of China Battery Technology (CBAT) increased by 6.26% on August 18, reaching $1.05 per share, with a total trading volume of $45,900 and a market capitalization of $93.31 million [1] - As of March 31, 2025, China Battery reported total revenue of $34.93 million, a year-on-year decrease of 40.6%, and a net profit attributable to shareholders of -$1.58 million, a year-on-year decrease of 116.05% [1] Group 2 - On August 15, China Battery is scheduled to disclose its interim report for the fiscal year 2025, with the actual disclosure date subject to the company's announcement [2] - China Battery Technology, established on October 4, 1999, is a leading global high-tech enterprise engaged in the research, production, and sales of lithium-ion batteries, with products including square aluminum shell batteries, polymer batteries, and cylindrical batteries, applicable in various fields such as light electric vehicles, electric passenger cars, electric buses, energy storage, backup power, and electric tools [2]

Group 1 - The stock price of China Battery Technology (CBAT) increased by 3.23% on August 18, reaching $1.02 per share, with a total market capitalization of $90.6447 million [1] - Financial data shows that as of March 31, 2025, China Battery's total revenue was $34.9389 million, a year-on-year decrease of 40.6%, and the net profit attributable to shareholders was -$1.5792 million, a year-on-year decrease of 116.05% [1] - China Battery Technology, established on October 4, 1999, is a leading high-tech enterprise in lithium-ion battery research, production, and sales, with products including square aluminum shell batteries, polymer batteries, and cylindrical batteries, serving various applications such as light electric vehicles, electric passenger cars, electric buses, energy storage, backup power, and electric tools [2] Group 2 - China Battery is expected to disclose its mid-year report for the fiscal year 2025 on August 15, with the actual disclosure date subject to the company's announcement [2]

Financial Data and Key Metrics Changes - As of June 30, 2025, the company reported net revenue of $40.52 million, down 15% from $47.79 million in the same period of 2024, primarily due to a sharp reduction in sales to customers in the residential energy storage market [8][9][13] - The company reported net losses attributable to shareholders of $3.07 million and total net losses of $3.36 million, with the battery segment accounting for $2.07 million in net losses [13] Business Line Data and Key Metrics Changes - The battery segment experienced a significant decline in sales, particularly in the residential energy storage market, where sales fell by 44.8% year over year [8][9] - The raw materials production unit, Heitrans, reported net revenues of approximately $19.43 million, up 59.36% from $12.19 million in the same period of 2024, with net losses narrowing by 32.02% [13][14] Market Data and Key Metrics Changes - The company is facing supply constraints in its Nanjing facility due to surging demand for its model 32140 cells, with phase two of the Nanjing plant delayed until Q4 [7][8] - The company is targeting high-quality European and American customers while expanding its market share in India and the portable power supply industry [9][10] Company Strategy and Development Direction - The company is transitioning from a small format battery model to a larger, more advanced model (model 4135) to meet market demand and reduce costs [6][10] - Establishing battery cell production capacity in the US remains a core element of the company's long-term strategy, although the Malayan project has been temporarily paused [10][11] Management's Comments on Operating Environment and Future Outlook - Management anticipates a strong recovery in consolidated results by year-end, driven by the completion of product upgrades and the expansion of the Nanjing facility [8][14] - The company believes that the financial performance of both Heitrans and the battery segment will see a strong rebound in the near future [14][15] Other Important Information - The company has spent approximately $1.3 to $1.5 million on its stock buyback program, which is a one-year long initiative [30] Q&A Session Summary Question: Competitive landscape and pricing pressures - Management noted that battery technology is rapidly developing, and the market is sensitive to costs, leading to a transition to larger battery cells to reduce costs [17][21] Question: Development status of the 46 series cells - The company has been researching the 46 series for over two years and aims to achieve mass production by the end of next year, contingent on securing significant orders [24][26] Question: Factors causing delays in the Nanjing expansion - The delay was primarily due to issues with equipment suppliers, but management expects to resolve these problems soon and complete the expansion by the end of the year [27][29] Question: Stock buyback activity - The company has been active in its stock buyback program, spending approximately $1.3 to $1.5 million so far [30]

Company Overview and Milestones - CBAK was among the first to research lithium battery applications in cars, positioning itself as a pioneer in the EV era[9] - Model 32140 cells captured 19% of the global market share, while Model 26650 captured 64% of the global market share in 2024[12] - Nanjing Branch reported a net income of RMB 2846 million with a gross margin of 2751% for the first 6 months of 2025[13] Production Capacity and Expansion - Dalian Branch's production capacity is expected to reach 33 GWh by 2025, mainly for Model 40135 cells[19] - Nanjing Branch has two production lines with a capacity of 13 GWh for lithium-ion batteries, or 06 GWh with one line for lithium-ion batteries and 048 GWh with the other line for sodium-ion batteries[24] - CBAK is planning to expand Nanjing Branch's capacity up to 20 GWh once fully constructed[24] Product Portfolio and Development - Model 40135 is about 5 times the capacity of Model 26650, 15% higher in energy density and 12% lower in cost[37] - Model 32140 sales volume captured 19% of global market share, Model 26650 for 64% of global market share[12] Financial Performance and Projections - Net revenues from battery business in the first half of 2025 totaled $7546 million, with residential energy supply & uninterruptable supplies accounting for 4704%[49] - Sales forecast for the battery segment in 2025 is projected to reach RMB 14 billion, a 4098% increase over 2024[69] - Net income for the battery segment is projected to reach RMB 100 million in 2025[70]

[Financial Performance](index=1&type=section&id=Financial%20Performance) [Second Quarter of 2025 Financial Results](index=1&type=section&id=Second%20Quarter%20of%202025%20Financial%20Results) The company's Q2 2025 net revenues declined 15% YoY to $40.52 million, resulting in a net loss of $3.07 million due to a strategic product transition **Quarterly Financial Highlights** | Financial Metric | Q2 2024 | Q2 2025 | YoY Change | | :--- | :--- | :--- | :--- | | Net Revenues | $47.79 million | $40.52 million | -15% | | Gross Profit | $12.73 million | $4.46 million | -64.95% | | Gross Margin | 26.6% | 11.0% | -15.6 p.p. | | Operating Income/(Loss) | $5.95 million | ($3.53 million) | - | | Net Income/(Loss) | $6.45 million | ($3.07 million) | - | | Basic & Diluted EPS | $0.07 | ($0.03) | - | - The revenue decline was mainly attributed to the Dalian facilities, where customers are transitioning from the old **Model 26650 battery** to testing the new **Model 40135**[2](index=2&type=chunk) - Demand for the **Model 32140 battery** produced at the Nanjing facilities is strong, with Phase I capacity fully booked and a Phase II facility expansion planned[2](index=2&type=chunk) **Quarterly Battery Business Revenue by Application** | Battery Business Revenue by Application | Q2 2024 ($) | Q2 2025 ($) | YoY Change | | :--- | :--- | :--- | :--- | | Electric Vehicles | 199,258 | 142,139 | -28.7% | | Light Electric Vehicles | 1,825,501 | 2,426,624 | +33.0% | | Residential Energy Supply & UPS | 33,573,365 | 18,521,374 | -44.8% | [First Half of 2025 Financial Results](index=2&type=section&id=First%20Half%20of%202025%20Financial%20Results) For H1 2025, net revenues fell 29.2% to $75.46 million, leading to a net loss of $4.65 million amid ongoing operational shifts **First Half Financial Highlights** | Financial Metric | H1 2024 | H1 2025 | YoY Change | | :--- | :--- | :--- | :--- | | Net Revenues | $106.62 million | $75.46 million | -29.2% | | Gross Profit | $31.5 million | $9.26 million | -70.6% | | Gross Margin | 29.5% | 12.28% | -17.22 p.p. | | Operating Income/(Loss) | $16.2 million | ($6.4 million) | - | | Net Income/(Loss) | $16.3 million | ($4.65 million) | - | | Basic & Diluted EPS | $0.18 | ($0.05) | - | **First Half Battery Business Revenue by Application** | Battery Business Revenue by Application | H1 2024 ($) | H1 2025 ($) | YoY Change | | :--- | :--- | :--- | :--- | | Electric Vehicles | 679,439 | 679,646 | +0.03% | | Light Electric Vehicles | 3,335,793 | 5,271,498 | +58.0% | | Residential Energy Supply & UPS | 76,420,761 | 35,502,331 | -53.5% | [Management Commentary and Outlook](index=3&type=section&id=Management%20Commentary%20and%20Outlook) [Business Operations and Strategy](index=3&type=section&id=Business%20Operations%20and%20Strategy) Management outlines a strategic transition year, with mass production of the new Model 40135 battery set for September and an expansion for Model 32140 - The Dalian facilities are scheduled to begin mass production of the new **Model 40135 battery** in September 2025[13](index=13&type=chunk) - The Phase II capacity expansion for **Model 32140** at the Nanjing facilities has been postponed to Q4 2025[13](index=13&type=chunk) - Management expects a gradual recovery at the Dalian facility starting in Q4 and a **strong rebound** in overall production and sales by the end of the year[13](index=13&type=chunk) [Financial Outlook and Customer Relations](index=3&type=section&id=Financial%20Outlook%20and%20Customer%20Relations) The CFO anticipates a solid near-term recovery, supported by a product portfolio upgrade and new agreements with internationally renowned customers - Management is confident that financial performance will experience a **gradual and solid recovery** in the near term[13](index=13&type=chunk) - The company is nearing final agreements with several **internationally renowned customers**[13](index=13&type=chunk) - CBAK's global customer base includes leading players such as **top-five manufacturers** in India's two- and three-wheeler market and top-five companies in the portable power bank sector[13](index=13&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets grew to $333.1 million while total equity slightly decreased, reflecting increased liabilities and construction in progress **Key Balance Sheet Items** | Balance Sheet Item | Dec 31, 2024 ($) | June 30, 2025 ($) | | :--- | :--- | :--- | | Total Assets | 302,218,144 | 333,094,266 | | Total Liabilities | 182,150,979 | 217,250,126 | | Total Equity | 120,067,165 | 115,844,140 | - **Construction in progress** increased substantially from $42.5 million on December 31, 2024, to **$71.6 million** on June 30, 2025, reflecting ongoing capacity expansions[21](index=21&type=chunk) - **Inventories** rose to **$37.4 million** from $22.9 million, and **trade and bills payable** increased to **$97.6 million** from $84.7 million over the six-month period[21](index=21&type=chunk) [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The statements detail a significant downturn, with the company swinging from operating income to an operating loss in both Q2 and H1 2025 **Condensed Consolidated Statements of Operations (Three Months Ended June 30)** | Q2 Performance ($) | 2024 | 2025 | | :--- | :--- | :--- | | Net Revenues | 47,793,045 | 40,524,333 | | Gross Profit | 12,728,026 | 4,462,409 | | Operating Income (Loss) | 5,947,480 | (3,528,576) | | Net Income (Loss) | 6,023,185 | (3,360,398) | **Condensed Consolidated Statements of Operations (Six Months Ended June 30)** | H1 Performance ($) | 2024 | 2025 | | :--- | :--- | :--- | | Net Revenues | 106,615,477 | 75,463,234 | | Gross Profit | 31,509,073 | 9,264,143 | | Operating Income (Loss) | 16,210,463 | (6,392,595) | | Net Income (Loss) | 15,595,659 | (5,411,380) | [Additional Information](index=3&type=section&id=Additional%20Information) [Conference Call](index=3&type=section&id=Conference%20Call) The company will host an earnings conference call on August 18, 2025, at 8:00 AM U.S. Eastern Time - An earnings conference call is scheduled for **8:00 AM U.S. Eastern Time on Monday, August 18, 2025**[14](index=14&type=chunk) [About CBAK Energy](index=4&type=section&id=About%20CBAK%20Energy) CBAK Energy is a high-tech enterprise specializing in the development and manufacturing of high-power lithium and sodium batteries - CBAK Energy is a leading Chinese manufacturer of high-power lithium and sodium batteries for applications including **EVs, light EVs, and energy storage**[16](index=16&type=chunk) [Safe Harbor Statement](index=4&type=section&id=Safe%20Harbor%20Statement) This section contains a forward-looking statements disclaimer, highlighting numerous risks associated with the company's operations and market conditions - The press release contains **forward-looking statements** that are subject to substantial risks and uncertainties[17](index=17&type=chunk) - Key risks include **operational and legal challenges in China**, potential Chinese government intervention, and market volatility[18](index=18&type=chunk)