CBAK Energy Secures Nearly USD7 Million Order From Renowned European Client

DALIAN, China, June 14, 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 its subsidiary, Dalian CBAK Power Battery Co., Ltd. ("CBAK Power") has secured an order valued at almost USD7.0 million from a Renowned European Client (the "Partner").

Founded in Europe, the Partner has been sourcing cylindrical batteries from CBAK Energy for orders valued close to USD55.0 million.

Yunfei Li, Chairman and Chief Executive Officer of CBAK Energy, commented, "We are pleased to receive another significant-sized order from our long-term partner, demonstrating the recognition of our battery products by one of our industry-pioneering customers renowned for their manufacturing excellence. We are committed to innovating and delivering high-quality and high-performance batteries to capture more market share and consolidate our leadership position."

About CBAK Energy

CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company's products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian.

For more information, please visit ir.cbak.com.cn.

Safe Harbor Statement

This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding the Company's future results of operations and financial position, strategy, plans, and expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The Company has attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Actual results of the Company may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.

The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

For further inquiries, please contact:

In China:

CBAK Energy Technology, Inc.

Investor Relations Department

Phone: +86-18675423231

Email: ir@cbak.com.cn

Piacente Financial Communications

Ms. Hui Fan

Tel: +86-10-6508-0677

Email: CBAK@thepiacentegroup.com

In the United States:

Piacente Financial Communications

Ms. Brandi Piacente

Tel: +1-212-481-2050

Email: CBAK@thepiacentegroup.com

View original content:https://www.prnewswire.com/news-releases/cbak-energy-secures-nearly-usd7-million-order-from-renowned-european-client-302172740.html

SOURCE CBAK Energy Technology, Inc.

First published on Fri, Jun 14, 2024

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