Company Milestones & Market Position - CBAK was among the first to manufacture large cylindrical cells using Model 32140 and small cylindrical cells, Model 26650[61] - Model 32140 cells captured 19% of the global market share in 2024, while Model 26650 captured 64%[12] - The company maintains an average A-grade product yield of 9892%, higher than competitors[62] Production Capacity & Expansion - Dalian Branch's production capacity is expected to reach 33 GWh by 2025, mainly for Model 40135 cells[19] - Nanjing Branch's production capacity is expected to reach 43 GWh by mid-2025[24] - The company is exploring setting up a new production base in Southeast Asia[40] Financial Performance & Projections - Net revenues from the battery business increased by 171% from 2021 to 2024[48] - Net income from the battery business increased from $14 million in 2023 to $1943 million in 2024[54] - The company projects net revenues for the battery segment to reach RMB 14 billion in 2025, a 4098% increase over 2024[70] - The company projects net income for the battery segment to reach RMB 100 million in 2025[71] - In the first quarter of 2025, Residential Energy Supply & Uninterruptable Supplies accounted for 8338% of the battery business revenue[49]

Financial Data and Key Metrics Changes - The company reported a year-over-year decline of 41% in net revenues, totaling $34.9 million compared to the same period last year [6] - A net loss of $1.64 million was reported, contrasting with a net income of $9.8 million in the same period last year [13] Business Line Data and Key Metrics Changes - The battery business experienced a significant decline, with net revenue dropping 54.6% to $20.36 million from $44.84 million in the prior year [6] - The electric vehicle business saw an increase of 11.9%, while the light electric vehicle segment grew by 88.4% [7] - The home energy storage business faced a decline of 60.4% [7] Market Data and Key Metrics Changes - The Nanjing facility maintained strong growth, producing the competitive model 32,140, while the Dalian facility is undergoing a product portfolio upgrade [8] - The production line for model 32,140 in Nanjing is running at full capacity to meet robust market demand [9] Company Strategy and Development Direction - The company is transitioning from the outdated model 26,650 to the promising model 41,35, with construction of the new manufacturing line expected to be completed in the second half of the year [7][8] - Plans to establish an overseas manufacturing facility in Southeast Asia are underway, driven by customer demand [10][11] - A dedicated manufacturing line in Southeast Asia is planned to support a large-scale four-year order, expected to begin production by mid-next year [12][14] Management's Comments on Operating Environment and Future Outlook - Management anticipates a significant recovery beginning next year once the Dalian facility upgrades are completed and model 41,35 is launched [13][14] - The company remains committed to maintaining a healthy gross margin to support the recovery of net income [14] Other Important Information - The company has reached an agreement in principle with a major customer for a high-volume purchase agreement, which includes substantial prepayments [11] - The decision to expand into Southeast Asia is entirely customer-driven, with favorable terms being negotiated [10][25] Q&A Session Summary Question: Confirmation of expansion goals for Dalian and Nanjing - The capacity for the Dalian facility remains at 2.3 gigawatt hours, with construction expected to be completed by June, while the Nanjing project will have a capacity of 1.5 gigawatt hours due to relocation of an assembly line [18][19] Question: Confidence in cylindrical cells for storage - The main market is home energy storage, where cylindrical cells are preferred due to design requirements for high voltage applications [20][22] Question: Demand pull from portable energy customers - Customers are seeking solutions to relocate manufacturing lines overseas, driven by tariff considerations, with ongoing negotiations for favorable terms [25][26]

Core Viewpoint - The article highlights the advancements in battery manufacturing technology, particularly focusing on innovations by Dazhu Lithium Battery, which are aimed at enhancing efficiency, safety, and sustainability in the battery industry [2][3][4]. Group 1: Event Announcements - The 2025 High-Performance Sodium Battery Industry Summit will be held on June 9 at the Shangri-La Hotel in Suzhou, organized by GaoGong Sodium Battery and GaoGong Industry Research Institute [1]. - The 2025 Solid-State Battery Technology and Application Summit is scheduled for June 10 at the same venue, organized by GaoGong Lithium Battery and GaoGong Energy Storage [2]. Group 2: Technological Innovations - Dazhu Lithium Battery introduced UV spraying equipment that replaces traditional blue film processes, increasing material utilization from 70% to 98% and enhancing temperature resistance from 150°C to 300°C, while also doubling shear and adhesion strength [2][3]. - The UV spraying technology reduces carbon footprint by 20%, contributing to a greener battery manufacturing process [3]. - The solid-state battery testing system showcased at the event improves the first-pass yield from 99.7% to 99.9% by optimizing fixture structure and power board design [3]. Group 3: Comprehensive Solutions - Dazhu Lithium Battery presented a full-chain intelligent manufacturing solution for new energy batteries, covering power, energy storage, and consumer batteries [4]. - The company displayed high-precision equipment such as integrated rolling machines and laser die-cutting machines, suitable for various battery forms [4]. - The PACK power battery testing system features a unique dual-precision synchronous detection technology, achieving a transient response of 2ms and seamless charge-discharge switching [4]. Group 4: Future Directions - Dazhu Lithium Battery aims to deepen its global presence and collaborate with partners to build an efficient and low-carbon energy ecosystem [5]. - The company’s high-power 3D scanning galvanometer system is designed for complex welding requirements, ensuring safety and precision in battery shell welding [5].

Financial Data and Key Metrics Changes - The company reported GAAP revenue of $600,000 for Q1 2025, with a GAAP cost of revenue of $8,700,000, reflecting the final deliveries of energy centers to a Florida utility [18][6] - Non-GAAP operating expenses for Q1 were $9,400,000, with R&D spending of $2,300,000 focused on cost reduction initiatives and technology improvements [20][21] - Adjusted EBITDA for Q1 was negative $15,000,000, but the company expects this loss to narrow as production ramps up in 2025 and beyond [20][24] Business Line Data and Key Metrics Changes - The first quarter revenue was primarily tied to equipment (65%) and site preparation (35%) related to battery systems [6] - The company is pivoting from energy warehouse and energy center products to a more focused strategy on energy-based products, which has already shown early momentum [8][9] - Proposal activity has increased significantly, totaling approximately 1.2 gigawatt hours and $400,000,000 in the last two quarters, with over 70% representing the energy base [10] Market Data and Key Metrics Changes - The company secured a contract for a 50 megawatt hour pilot project with an Arizona public power utility, indicating strong demand for non-lithium ion longer duration storage technologies [9] - The project will be structured as a power purchase agreement (PPA), allowing the company to maintain ownership and receive revenue over time [10] - The company is experiencing increased inquiries and proposal activity due to the current tariff landscape and the drive for electrification growth [50][51] Company Strategy and Development Direction - The company is focused on executing its energy-based product launch and gaining commercial momentum, with plans to demonstrate longer duration storage capabilities [6][11] - The strategic shift towards energy-based products aims to address longer duration storage opportunities, with expectations of competitive pricing and performance [8][22] - The company is actively reallocating resources to accelerate progress on energy-based cost reduction and performance initiatives [21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging capital markets environment and is aggressively pursuing options to extend the company's runway [16][24] - The company has not yet completed its capital raise but is exploring various financing alternatives to strengthen its balance sheet [25] - Legislative support for domestic battery manufacturing is seen as a positive factor for the company's future prospects [14][16] Other Important Information - The company ended Q1 with $12,800,000 in cash and short-term investments, with a reduced cash burn rate compared to previous quarters [23][24] - The company has a high degree of American-made inputs, with over 98% of components sourced domestically, which positions it favorably amid tariff uncertainties [13] Q&A Session Summary Question: Outlook for Q2 sales and ramp in the second half - Management confirmed that Q2 sales are expected to be similar to Q1, with a potential ramp in the second half contingent on successful capital raising [28] Question: Cash runway and operational support - Management indicated that the current cash runway is supported by lower cash burn rates and ongoing discussions for interim financing solutions [29][32] Question: Details on the Arizona RFP requirements - The RFP required non-lithium solutions, and the company's ability to deliver over 10 hours of storage and operate in various temperatures contributed to its success [34][35] Question: Customer deposits for booked orders - Historical deposit ranges for booked orders are between 5% to 20%, with expectations to push towards the higher end for future contracts [38] Question: Status update on the Australian project - The project is delayed due to government funding not being secured, with no further updates on timing [44] Question: Discussions with strategic partners - Ongoing discussions with strategic partners like Honeywell are productive, and the company is looking to bring in additional investors to diversify its cap table [47][48]

Financial Data and Key Metrics Changes - The company reported GAAP revenue of $600,000 for Q1 2025, with a cost of revenue of $8,700,000, reflecting the final deliveries of energy centers to a Florida utility [19][20] - Non-GAAP operating expenses for Q1 were $9,400,000, with R&D spending of $2,300,000 focused on cost reduction initiatives and technology improvements [21][22] - Adjusted EBITDA for Q1 was negative $15,000,000, but the company expects this loss to narrow as production ramps up in 2025 and beyond [21][22] Business Line Data and Key Metrics Changes - The first quarter revenue was primarily tied to equipment (65%) and site preparation (35%) for battery systems [6] - The company is pivoting from energy warehouse and energy center products to a more focused strategy on energy-based products, which has already shown early momentum [7][8] - Proposal activity has increased significantly, totaling approximately 1.2 gigawatt hours and $400,000,000 in the last two quarters, with over 70% representing the energy base [10] Market Data and Key Metrics Changes - The company secured a contract for a 50 megawatt hour pilot project with an Arizona public power utility, beating over 10 competitors [8][9] - The project is expected to lead to a significant follow-on RFP opportunity, indicating strong demand for non-lithium ion longer duration storage technologies [9][10] - The company is experiencing increased inquiries and proposal activity due to the growing demand for alternatives to lithium-ion batteries [52][54] Company Strategy and Development Direction - The company is focusing on executing its energy-based product launch and gaining commercial momentum, with plans to demonstrate longer duration storage capabilities [6][11] - Strategic partnerships, particularly with Honeywell, are being leveraged to enhance product development and manufacturing capabilities [12][17] - The company aims to reduce costs and improve product performance to compete effectively with lithium-ion technologies [22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging capital markets environment and is actively pursuing options to extend the company's cash runway [17][24] - The company is optimistic about the legislative support for domestic battery manufacturing, which could benefit its operations [15][17] - Management expects to transition to EBITDA and cash flow positive in the next few years based on the anticipated ramp of energy-based production and sales [21][22] Other Important Information - The company ended Q1 2025 with $12,800,000 in cash and short-term investments, with a reduced cash burn rate compared to previous quarters [23][24] - The company is exploring various strategic financing alternatives to strengthen its balance sheet and extend its cash runway [25] Q&A Session Summary Question: Outlook for Q2 sales and ramp in the second half - Management confirmed that Q2 sales are expected to be similar to Q1, with a ramp in the second half contingent upon successful capital raising [27][28] Question: Cash runway and operational support - Management indicated that the current cash runway is supported by lower cash burn rates and ongoing discussions for interim financing solutions [29][32] Question: Details on the Arizona RFP requirements - The RFP required non-lithium solutions, and the company's ability to deliver over 10 hours of storage and operate in various temperatures contributed to its success [34][35] Question: Customer deposits for booked orders - Historical deposit ranges for booked orders are between 5% to 20%, with expectations to push towards the higher end for future contracts [38] Question: Status of the Australian project - The project is delayed due to government funding not coming through, with no further updates on timing [46] Question: Discussions with strategic partners - Ongoing discussions with Honeywell and other investors are productive, with a focus on strategic capital raising [49][50] Question: Impact of tariffs on customer inquiries - The company has seen a positive increase in inquiries due to tariff impacts and the drive for electrification growth [52][54]

Financial Data and Key Metrics Changes - Revenue increased by 40% year-over-year to $2.4 million for Q1 2025, marking the highest trailing twelve months revenue Cooler has ever generated [26] - Product revenue surged by 89%, while service revenue declined by 8%, with the company recognizing its first Bitcoin mining revenue of $250,000 [27] - Gross margin for Q1 2025 was down primarily due to unanticipated labor hours needed for technical projects [27] - Cash balance at the end of Q1 was $24 million, with total assets amounting to $94 million and no material financial debts [28] Business Line Data and Key Metrics Changes - Overall revenue per customer increased by approximately 64%, with product revenue per customer up 195% and service revenue per customer up 7% [27] - The company is focusing on its Koother One battery platform and has expanded its facility footprint to approximately 31,000 square feet, doubling battery production capacity [11] Market Data and Key Metrics Changes - The exoskeleton market is projected to grow from $2.5 billion to $24 billion by 2031, driven by labor shortages in manufacturing and other sectors [31] - The global market for wearable robotics is expected to reach $42 billion by 2033, indicating significant growth potential [14] Company Strategy and Development Direction - Cooler Technology Group is positioning itself as a Bitcoin-first company, integrating Bitcoin into its core strategy and identity [6][24] - The company is entering strategic BTC mining opportunities and has launched a blockchain-secured supply chain initiative [10] - The partnership with German Bionic aims to enhance productivity and safety in various industries through the use of exoskeleton technology [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in doubling revenue by the end of 2025, citing strong performance in Q1 2025 as a positive indicator [44] - The company acknowledges the challenges in the EV battery market, opting to focus on high-margin sectors instead [46] - Management emphasized the importance of navigating a dynamic and volatile future, highlighting the strategic role of Bitcoin in their operations [24] Other Important Information - The company will not be extending its San Diego lease and will consolidate operations into its Webster, Texas facility [34] - A grant of $6.7 million from the Texas Space Commission will support the development of next-generation space battery systems [13] Q&A Session Summary Question: Is KULR still pursuing a deal with UPS for SafeCase? - Yes, the company continues to pursue a deal with UPS for SafeCase [35] Question: Does KULR still have a licensing deal with Ampreus? - KULR has a technology design partnership with Ampreus, focusing on high-energy and high-power batteries [36] Question: Is Cooler paying SpaceX to take their tech into space in 2026? - Yes, Cooler is paying SpaceX to take their CubeSat and battery into space in 2027 [38] Question: Which partnerships do you think will be the most profitable in the short term? - Both the Cooler One space development and the new AI robotics opportunity are promising [39] Question: What is the California facility used for now? - The California facility is transitioning all activities to the Webster, Texas facility by the end of the year [40] Question: What do you say to investors waiting on sales agreements? - The company expects to engage more customers and move them into production faster due to the expanded facility [42] Question: Does this quarter give you confidence in doubling revenue by the end of 2025? - Yes, the company still expects to double revenue by the end of 2025 [44] Question: What is KULR's vision for providing batteries for the EV industry? - KULR has intentionally stayed away from the EV battery market due to its challenging nature and razor-thin margins [46] Question: Does KULR have plans for other battery needs besides current solutions? - Currently, KULR is focused on its quarter '1 platform for space, DOD, robotics, and industrial applications, not consumer products [49]

Financial Data and Key Metrics Changes - The company reported a revenue growth of 6.8% in Q1 2025, marking the second consecutive quarter of year-over-year revenue growth [4] - First quarter net sales reached $13.4 million, with OEM net sales increasing by 10.8% to $8.1 million, while DTC segment revenue declined by approximately 3.6% to $5 million [18] - Gross profit increased by 12.5% to $3.9 million, and gross margin improved by 500 basis points to 29.4% [19] - The net loss for the quarter was $6.8 million, with a diluted loss per share of $0.93, compared to a net loss of $10.4 million and a diluted loss per share of $1.55 in the prior year [19] - Adjusted EBITDA improved to a loss of $3.6 million from a loss of $5.2 million in the previous year [19] Business Line Data and Key Metrics Changes - The OEM channel showed strong growth with a 10.8% increase in net sales, driven by broader integration of solutions at the factory level [4] - The DTC segment faced challenges, reflecting macroeconomic pressures that led to a decline in net sales [4][18] Market Data and Key Metrics Changes - The company highlighted its competitive advantage due to growing US-based production capabilities, which are crucial amid the volatile tariff landscape [8] - The strategic position is further strengthened by a lithium supply agreement with Pioneer, enhancing the company's ability to localize critical mineral supply chains [10] Company Strategy and Development Direction - The company is focusing on long-term growth through the OEM channel while optimizing its product development and rollout efforts [5] - A corporate optimization program has been launched to prioritize near-term revenue-generating opportunities and operational improvements [5][6] - The company aims to transition select components to North American-based sourcing and expand its domestic footprint [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating ongoing market volatility while delivering high-quality energy storage solutions [19] - The company anticipates net sales of approximately $14.8 million in Q2 2025, representing year-over-year growth of 12% [19] - Management acknowledged the impact of tariffs on operations and emphasized the importance of cash flow and profitability for future growth [28][30] Other Important Information - The company has increased production capacity without additional headcount through enhanced automation and operational efficiencies [6][7] - The dual flow power pack for the heavy-duty trucking market is highlighted as a key product that addresses current market needs [5][14] Q&A Session Summary Question: Updates on dry electrode manufacturing technology commercialization - Management confirmed ongoing development and interest from commercial partners, but emphasized a focus on near-term revenue and profitability [24][25] Question: Thoughts on cash balance and EBITDA guidance - Management indicated confidence in cash balance post-preferred equity deal and emphasized investments in near-term revenue growth [27][28] Question: Follow-up on EBITDA expectations for Q2 - Management explained that continued investments in product development and the impact of tariffs influenced the EBITDA guidance for Q2 [30]

Financial Data and Key Metrics Changes - Revenue in Q1 2025 totaled $2,000,000, an increase of 111% from $1,000,000 in the prior year period [20] - Gross profit in Q1 2025 was $500,000, or 24.5% of revenue, compared to $200,000, or 22.9% of revenue in the prior year [20] - Net loss in Q1 2025 totaled $1,200,000, a 47.5% improvement from a net loss of $2,200,000 in the prior year [22] - Cash and cash equivalents were $1,100,000 as of March 31, 2025, compared to $500,000 as of December 31, 2024 [22] Business Line Data and Key Metrics Changes - The company has made progress in its home energy storage solutions (HESS) vertical, with shipments beginning in January 2025 [9] - The E360 product line has shown sales growth, indicating a preferred conversion solution for lead acid batteries [7] - The RV market is recovering, with total RV shipments increasing by 14% in Q1 2025 [24] Market Data and Key Metrics Changes - The home energy storage market is expected to surpass $123 billion globally by 2029 [19] - The company is targeting home and small commercial solar users with its new battery solutions [16] - The industrial applications market is identified as a future growth vertical, driven by demand for electric forklifts and material handling [15] Company Strategy and Development Direction - The company aims to onshore the manufacturing of its components to mitigate tariff impacts and pursue government and defense opportunities [13][26] - A partnership with NeaVolta is being explored to develop a U.S.-based battery manufacturing facility [10][26] - The focus is on expanding the addressable market with E360 home energy storage solutions, which began production in January 2025 [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory for 2025 and beyond, with substantial purchase orders and new customer interest [23] - Meetings in Washington D.C. were described as encouraging, with support for onshoring efforts [32][33] - The company is actively working to ensure tariffs have minimal impact on its business and growth [25] Other Important Information - The company has secured several new OEM customers, including Scout Campers and KZ Recreational Vehicles [10] - A registered direct offering in January 2025 raised approximately $2,600,000 for working capital and growth initiatives [12] Q&A Session Summary Question: How will the onshoring of a cell plant help financially? - Onshoring will provide access to cells at a cost-plus basis, increasing margins and eliminating tariff threats [30] Question: What would your financial burden be should a domestic cell plant be constructed? - The partner bears the financial burden, while the company provides technology and manages production [31] Question: How did your meetings go in Washington, and can you provide any additional details? - Meetings were very encouraging, with strong support for onshoring efforts and U.S. manufacturing investment [32][33]

Financial Data and Key Metrics Changes - Revenue in the first quarter of 2025 totaled $2,000,000, an increase of 111% from $1,000,000 in the prior year period [20] - Gross profit for the first quarter of 2025 was $500,000, or 24.5% of revenue, compared to $200,000, or 22.9% of revenue in the prior year period [20] - Net loss in the first quarter of 2025 totaled $1,200,000, a 47.5% improvement from a net loss of $2,200,000 in the prior year period [21] - Cash and cash equivalents were $1,100,000 as of March 31, 2025, compared to $500,000 as of December 31, 2024 [22] Business Line Data and Key Metrics Changes - The company has begun shipments in the home energy storage solutions (HESS) vertical, which is expected to benefit from a fast-growing battery energy storage market [8] - The E360 product line has shown sales growth, indicating a preferred conversion solution for lead-acid batteries [6] - The RV market is recovering, with total RV shipments increasing by 14% in the first quarter of 2025 [24] Market Data and Key Metrics Changes - The home energy market is projected to surpass $123 billion globally by 2029, indicating significant growth potential [19] - The company is exploring partnerships to enhance its manufacturing capabilities and mitigate tariff impacts, particularly with NeaVolta [9][26] Company Strategy and Development Direction - The company aims to onshore the manufacturing of its components to mitigate tariff risks and enhance production capabilities [12][26] - A focus on expanding the addressable market with E360 home energy storage solutions began production and shipments in January 2025 [25] - The company is actively working to diversify its supply chain to avoid tariffs and increase margins [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory for 2025 and beyond, with substantial purchase orders and new customer interest [23] - Meetings in Washington regarding onshoring efforts were described as encouraging, with strong support for increasing U.S. manufacturing investment [31] Other Important Information - The company closed a registered direct offering and concurrent private placement with institutional investors in January 2025, raising approximately $2,600,000 [11] - The company has prepared for growth by building up inventory early in the quarter before new tariffs were introduced [12] Q&A Session Summary Question: How will the onshoring of a cell plant help financially? - Onshoring will provide access to cells at a cost-plus basis, increasing margins without tariff threats, and will also generate royalties from cell sales [29] Question: What would the financial burden be for constructing a domestic cell plant? - The company will provide technology and manage the project, while the partner bears the financial burden and capital requirements [30] Question: How did the meetings in Washington go? - The meetings were very positive, with strong support for onshoring efforts and U.S. manufacturing investment [31]

Financial Performance & Highlights - Expion360's revenue increased to $2 million in Q1 2025, compared to $1 million in Q1 2024[47] - Gross profit increased to $05 million in Q1 2025, compared to $02 million in Q1 2024[47] - Gross margin increased to 245% in Q1 2025, compared to 229% in Q1 2024[47] - Net loss decreased to $(12) million in Q1 2025, compared to $(22) million in Q1 2024[47] - The company closed a $26 million registered direct offering in January 2025[20, 47] Strategic Initiatives & Market Positioning - Began fulfilling purchase orders for Home Energy Storage Solutions ("HESS") in January 2025[20, 26] - Exploring a potential collaboration with NeoVolta Inc to engineer a state-of-the-art battery manufacturing facility[20] - RV industry shipments increased 14% in the first quarter of 2025[48] Technology & Product Development - e360 12 volt 450 Ah battery features new proprietary anode/cathode design that increases energy density by >32%[29] - The company has 11 patents pending across its five market segments[23]