CBAK Energy Technology, Inc. Announces Significant Orders from Anker Innovations, totaling around USD 30 Million to 35 Million

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].