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, 2023 ☐ 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) | --- | --- ...

Financial Performance - Net revenues decreased by $37.8 million, or 47%, to $42.4 million for the three months ended March 31, 2023, from $80.2 million for the same period in 2022[270]. - Gross profit was $2.9 million, representing a decrease of $2.4 million, for the three months ended March 31, 2023, from gross profit of $5.3 million for the same period in 2022[270]. - Operating loss increased to $2.9 million for the three months ended March 31, 2023, from an operating loss of $1.3 million for the same period in 2022[270]. - Net loss was $2.2 million for the three months ended March 31, 2023, compared to a net income of $0.7 million for the same period in 2022[270]. - Fully diluted loss per share was $0.02 for the three months ended March 31, 2023, compared to fully diluted income per share of $0.01 for the same period in 2022[271]. Revenue Breakdown - Net revenues from sales of batteries for electric vehicles reached $1.8 million in Q1 2023, a significant increase from nil in Q1 2022[282]. - Net revenues from sales of batteries for light electric vehicles surged to $2.0 million in Q1 2023, up 2,111% from $88,764 in Q1 2022[283]. - Net revenues from sales of batteries for uninterruptable power supplies increased to $25.8 million in Q1 2023, representing a 73% growth from $14.9 million in Q1 2022[284]. - Net revenues from sales of materials used in manufacturing lithium batteries dropped to $12.8 million in Q1 2023, down from $65.2 million in Q1 2022, primarily due to a rapid decrease in raw material prices[285]. Cost and Expenses - Cost of revenues decreased to $39.5 million in Q1 2023, down 47% from $74.9 million in Q1 2022, aligning with the decrease in net revenues[285]. - Research and development expenses decreased by $0.9 million, or 26%, to $2.5 million for the three months ended March 31, 2023[279]. - General and administrative expenses increased by $0.2 million, or 11%, to $2.5 million for the three months ended March 31, 2023[279]. - Gross profit for Q1 2023 was $2.9 million, representing 6.9% of net revenues, compared to $5.3 million or 6.6% in Q1 2022[286]. - Operating loss totaled $2.9 million in Q1 2023, an increase of 116% from a loss of $1.3 million in Q1 2022[290]. Cash Flow and Financing - As of March 31, 2023, the company had cash and cash equivalents of $43.1 million and total current assets of $130.0 million[292]. - Net cash provided by operating activities was $9.5 million for the three months ended March 31, 2023, compared to $5.0 million in the same period in 2022, mainly due to an increase in trade and bills payable of $9.9 million[315]. - Net cash used in investing activities was $7.2 million for the three months ended March 31, 2023, compared to $2.7 million in the same period of 2022, primarily for purchases of property, plant, and equipment[319]. - Net cash provided by financing activities was $3.2 million for the three months ended March 31, 2023, compared to $1.9 million in the same period in 2022, mainly due to $13.2 million advances from bank borrowings[321]. - The company obtained a three-year term facility from Industrial and Commercial Bank of China with a maximum amount of RMB12 million (approximately $1.7 million) and borrowed RMB10 million (approximately $1.5 million) at an interest rate of 3.95% per annum[300]. Expansion and Development - The Nanjing facilities are projected to provide a total capacity of 20 GWh to support growing customer demand once fully operational[266]. - The company expects to secure more potential orders from the new energy market due to government support for new energy facilities and vehicles[267]. - The company is expanding its business by developing new products and fostering new partnerships[266]. - The company has expanded its product lines and manufacturing capacity in Dalian and Nanjing, requiring additional funding for the expansion[313]. - Capital expenditures increased from $2.7 million in Q1 2022 to $7.2 million in Q1 2023, with an estimated total of $80 million for fiscal year 2023[324]. Debt and Credit Facilities - The company borrowed a series of acceptance bills totaling RMB102.6 million (approximately $14.9 million) from China Merchants Bank, secured by cash totaling RMB102.6 million[307]. - The company repaid RMB10 million (approximately $1.5 million) on April 19, 2023, and obtained another one-year loan of RMB10 million (approximately $1.5 million) at an interest rate of 3.90% per annum[300]. - The principal amounts outstanding under credit facilities and lines of credit as of March 31, 2023, were detailed in the financial statements[322]. - Long-term credit facilities available amount to $64,284,000, with $60,678,000 borrowed[323]. - Total short-term credit facilities amount to $5,678,000, all of which have been fully borrowed[323]. Accounting and Reporting - The company has not reported any material changes to critical accounting policies since the last annual report[327]. - The financial information is prepared in accordance with U.S. GAAP, which involves significant estimates and judgments[326]. - There were no applicable quantitative and qualitative disclosures about market risk reported[329]. - The company continues to evaluate its accounting estimates based on historical experience and current conditions[326]. - No recently adopted accounting standards were specified in the provided documents[328].

CBAK Energy Technology, Inc. (NASDAQ:CBAT) Q1 2023 Earnings Conference Call May 10, 2023 10:00 AM ET Company Participants Thierry Li - Investor Relations Director Yunfei Li - Chief Executive Officer Xiangyu Pei - Interim Chief Financial Officer Xiujun Tian - General Engineer Operator Good day, ladies and gentlemen. Thank you for standing by and welcome to the CBAK Energy Technology’s First Quarter 2023 Earnings Conference Call. Currently, all participants are in listen-only mode. Later, we will conduct a qu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________to _____________ Commission File No. 001-32898 CBAK ENERGY TECHNOLOGY, INC. (Exact Name of Registrant as Specified in Its Charter) Nevada (State or other ...

Financial Data and Key Metrics Changes - The company's revenue increased by 3.7 times from $52.67 million in 2021 to $249 million in 2022 [4][5] - In Q4 2022, net revenues surged by 95.9% to $54.4 million compared to the same period in 2021 [17] - Gross profit for 2022 was $18.1 million, representing an increase of 254.1% from 2021 [20] Business Line Data and Key Metrics Changes - The battery segment's annual revenue reached approximately $94.72 million in 2022, a 1.76 times increase year-on-year [5] - The company has a backlog of orders totaling approximately $180 million as of March 31, 2023, which supports future revenue growth [6] - The energy storage market saw increased sales due to growing demand for renewable energy sources [19] Market Data and Key Metrics Changes - The company signed a framework agreement with Jinpeng Group, resulting in orders worth approximately $7 million [8] - Cooperation with Daihatsu Motor led to battery product supplies worth about RMB2.7 million in 2022 [9] - The demand for sodium-ion batteries is expected to create a market size of at least hundreds of billions of RMB in the near future [14] Company Strategy and Development Direction - The company is actively expanding production capacity to meet high demand, with plans to achieve a production capacity of 20 gigawatt hours in Nanjing [12] - Focus on sodium-ion battery development, with expected mass production by the end of the year [13] - The company aims to maintain a leading position in the industry through continuous R&D investment [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2023 due to declining raw material prices and strong order backlog [15][26] - The company anticipates that the production capacity expansion will better meet customer demands in the second half of the year [32] - Management highlighted the importance of sodium batteries in the future market, especially given their stable pricing and performance advantages [29] Other Important Information - The company recorded a net loss attributable to shareholders of $10.7 million for Q4 2022, compared to a net income of $9.16 million in the same period of 2021 [22] - Operating expenses rose due to increased R&D investments, but the company managed to reduce sales and marketing expenses [21] Q&A Session Summary Question: Can you provide details on the losses in profit and the ability to control production costs in 2023? - Management noted that the decline in gross margin was due to lithium carbonate price fluctuations and increased R&D investments, but they expect profitability to improve with optimized production processes and declining raw material prices [25][26] Question: What are the application scenarios and market size for sodium batteries? - Management highlighted that sodium batteries have stable pricing and superior low-temperature performance, predicting a significant market size for sodium batteries in the future [28][29] Question: Will EV and LEV sectors continue to grow rapidly, especially after sodium battery production? - Management confirmed that EV and LEV sales are expected to grow as production capacity increases and certification processes are completed [32] Question: Any updates on the development of larger cylindrical batteries? - Management reported progress in the development of large cylindrical batteries, with prototypes completed and plans for mass production [34][35] Question: Will there be serious liquidity issues if revenue costs do not decrease? - Management reassured that cash flow from existing business is sufficient and that they have financial support from local government and banks [39]

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: September 30, 2020 ☐ 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) | --- | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 88-0442833 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) 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 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, 2020 ☐ TRANSITION REPORT PURSUAN ...

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: March 31, 2020 ☐ 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) | --- | --- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________to _____________ Commission File No. 001-32898 CBAK ENERGY TECHNOLOGY, INC. (Exact Name of Registrant as Specified in Its Charter) Nevada CBAK Industrial ...

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 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: September 30, 2019 ☐ TRANSITION REPORT PU ...