DALIAN,
China, Aug. 9, 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
reported its unaudited financial results for the second quarter and
the first half of 2024 ended June 30,
2024.
First Half of 2024 Financial Highlights
- Net revenues from sales of batteries were $80.4 million, an increase of 55% from
$51.8 million in the same period of
2023.
- Net revenues
from batteries used in light electric vehicles were
$3.3 million, an increase of 7% from
$3.1 million in the same period of
2023.
- Net revenues
from batteries used in electric vehicles were $0.7 million, a decrease of 65% from $2.0 million in the same period of 2023.
- Net revenues
from residential energy supply & uninterruptible supplies
were $76.4 million, an increase of
63% from $46.8 million in the same
period of 2023.
- Gross margin for the battery business was 39.0%, an
increase of 26.2 percentage points from 12.8% in the same period of
2023.
- Net income from the battery business was $19.6 million, compared to net loss of
$1.0 million in the same period of
2023.
Yunfei Li, Chairman and Chief
Executive Officer of the Company, commented, "We are thrilled to
share with our shareholders and investors that we have achieved a
remarkable 55% increase in net revenues from our battery business,
reaching $80.4 million for the first
half of the year. This significant growth is particularly notable
given the broader industry challenges and declining sales volumes
faced by our competitors. Our strategic pivot towards residential
energy solutions and diverse energy storage applications has been a
key driver of this success, with the bulk of our revenue increase
coming from these sectors. Our major clients remain highly
satisfied with the performance of our products and continue to show
strong loyalty. We are confident that this exceptional sales
momentum will continue to drive our success in the future."
Jiewei Li, Chief Financial
Officer and Secretary of the Board of the Company, added, "In
addition to the remarkable surge in net revenues from our battery
business, we are thrilled to report an impressive gross margin of
39% for the first half of the year. This outstanding performance
not only highlights our efficiency but also places us ahead of all
our competitors in battery manufacturing. Consequently, our net
income from the battery sector has reached $19.6 million, surpassing the figures from the
previous fiscal year.
We are confident that our gross margin will remain robust due to
high client satisfaction with our battery products, and we
anticipate continued growth in net income in the upcoming quarters.
Furthermore, we are engaged in discussions with several private
equity investors regarding both our sodium and lithium battery
segments. These investors are showing interest in contributing
capital at a significantly higher valuation. We expect to finalize
these transactions and deliver positive news to the market."
Second Quarter of 2024 Business Highlights & Recent
Developments
- In June, CBAK Energy announced that its subsidiary, CBAK Power,
had secured an order valued at almost USD7.0
million from a Renowned European Client.
- In June, CBAK Energy unveiled a significant advancement in
fast-charging technology with the enhanced model 32140 battery,
achieving a full charge in just 35 minutes.
Second Quarter of 2024 Financial Results
Net revenues[1] were $47.8 million, representing an increase of
13% compared to $42.4 million in the
same period of 2023. This increase was primarily attributable to an
increase in revenue from the Company's battery business.
Among these revenues, detailed revenues from our battery
business are:
Battery
Business
|
|
2023
Second
Quarter
|
|
|
2024
Second
Quarter
|
|
|
% Change
YoY
|
|
Net Revenues
($)
|
|
|
22,232,003
|
|
|
|
35,598,124
|
|
|
|
60
|
|
Gross Profits
($)
|
|
|
3,425,147
|
|
|
|
12,912,293
|
|
|
|
276
|
|
Gross Margin
|
|
|
15.4
|
%
|
|
|
36.3
|
%
|
|
|
-
|
|
Net (Loss) Income
($)
|
|
|
(1,126,224)
|
|
|
|
7,892,641
|
|
|
|
-
|
|
Net Revenues from
Battery Business on
Applications ($)
|
|
|
|
|
|
|
|
|
|
|
|
|
Electric
Vehicles
|
|
|
135,731
|
|
|
|
199,258
|
|
|
|
46
|
|
Light Electric
Vehicles
|
|
|
1,147,902
|
|
|
|
1,825,501
|
|
|
|
59
|
|
Residential Energy
Supply &
Uninterruptable supplies
|
|
|
20,948,370
|
|
|
|
33,573,365
|
|
|
|
60
|
|
Total
|
|
|
22,232,003
|
|
|
|
35,598,124
|
|
|
|
60
|
|
[1] Net
revenues consist of the Company's self-operated battery business
and Hitrans, which was acquired in 2021, an independently managed
raw materials business.
|
Cost of revenues was $35.1
million, representing a slightly decrease of 9% from
$38.5 million in the same period of
2023. The decrease in the cost of revenues corresponds to the
Company's higher gross profit from the battery business.
Gross profit was $12.7 million, representing an increase of
227% from $3.9 million in the same
period of 2023. Gross margin was 26.6%, compared to 9.2% in the
same period of 2023.
Total operating expenses were $6.8
million, representing a decrease of 12% from $7.7 million in the same period of 2023.
- Research and development expenses was $3.0 million for the three months ended
June 30, 2024 and 2023.
- Sales and marketing expenses were $1.4
million, an increase of 42% from $1.0
million in the same period of 2023.
- General and administrative expenses were $3.1 million, a slightly decrease of 14% from
$3.6 million in the same period of
2023.
- Recover of doubtful accounts was $0.67
million, compared to a provision of doubtful accounts of
$0.13 million in the same period of
2023.
Operating income amounted to $5.9 million, compared to an operating loss
of $3.8 million in the same period of
2023.
Finance income, net amounted to $0.7, compared to $0.3
million in the same period of 2023.
Change in fair value of warrants was nil, compared to
$0.04 million in the same period of
2023.
Net income attributable to shareholders of CBAK Energy
was $6.45 million, compared to
net loss attributable to shareholders of CBAK Energy of
$2.6 million in the same period of
2023.
Net income attributable to shareholders of CBAK Energy (after
deducting the change in fair value of warrants) was
$6.45 million, compared to a net
loss of $2.7 million in the same
period of 2023, mainly due to the strong performance of our battery
business.
Basic and diluted income per share were both $0.07, compared to basic and diluted loss per
share of $0.03 in 2023.
First Half of 2024 Financial Results
Net revenues[1] were $106.6 million, representing an increase of
26% compared to $84.8 million in the
same period of 2023. This increase was primarily attributable to an
increase in revenue from the Company's battery business.
Among these revenues, detailed revenues from our battery
business are:
Battery
Business
|
|
2023
First
Half
|
|
|
2024
First
Half
|
|
|
% Change
YoY
|
|
Net Revenues
($)
|
|
|
51,835,386
|
|
|
|
80,435,993
|
|
|
|
55
|
|
Gross Profits
($)
|
|
|
6,638,505
|
|
|
|
31,375,815
|
|
|
|
372
|
|
Gross Margin
|
|
|
12.8
|
%
|
|
|
39.0
|
%
|
|
|
-
|
|
Net (Loss) Income
($)
|
|
|
(1,017,300)
|
|
|
|
19,575,070
|
|
|
|
-
|
|
Net Revenues from
Battery Business on
Applications ($)
|
|
|
|
|
|
|
|
|
|
|
|
|
Electric
Vehicles
|
|
|
1,955,979
|
|
|
|
679,439
|
|
|
|
-65
|
|
Light Electric
Vehicles
|
|
|
3,115,959
|
|
|
|
3,335,793
|
|
|
|
7
|
|
Residential Energy
Supply &
Uninterruptable supplies
|
|
|
46,763,448
|
|
|
|
76,420,761
|
|
|
|
63
|
|
Total
|
|
|
51,835,386
|
|
|
|
80,435,993
|
|
|
|
55
|
|
[1] Net
revenues consist of the Company's self-operated battery business
and Hitrans, which was acquired in 2021, an independently managed
raw materials business.
|
Cost of revenues was $75.0
million, representing a slightly decrease of 4% from
$78.0 million in the same period of
2023. The increase in the cost of revenues corresponds to the
Company's higher gross profit from the battery business.
Gross profit was $31.5 million, representing an increase of
22% from $6.8 million in the same
period of 2023. Gross margin was 29.5%, compared to 8.0% in the
same period of 2023.
Total operating expenses were $15.3 million, representing an increase of 14%
from $13.4 million in the same period
of 2023.
- Research and development expenses were $5.8 million, an increase of 6% from $5.4 million in the same period of 2023.
- Sales and marketing expenses were $3.1
million, an increase of 8.4% from $1.7 million in the same period of 2023.
- General and administrative expenses were $7.2 million, an increase of 19% from
$6.1 million in the same period of
2023.
- Recover of doubtful accounts was $0.8
million, compared to a provision of doubtful accounts of
$0.26 million in the same period of
2023.
Operating income amounted to $16.2 million, compared to an operating loss
of $6.7 million in the same period of
2023.
Finance income, net amounted to $0.7, compared to $0.3
million in the same period of 2023.
Change in fair value of warrants was nil, compared to
$0.12 million in the same period of
2023.
Net income attributable to shareholders of CBAK Energy
was $16.3 million, compared to net
loss attributable to shareholders of CBAK Energy of $4.0 million in the same period of 2023.
Net income attributable to shareholders of CBAK Energy (after
deducting the change in fair value of warrants) was
$16.3 million, compared to a net
loss of $4.1 million in the same
period of 2023, mainly due to the strong performance of our battery
business.
Basic and diluted income per share were both $0.18, compared to basic and diluted loss per
share of $0.05 in 2023.
Conference Call
CBAK Energy's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on
Friday, August 9, 2024 (8:00 PM Beijing/Hong Kong Time on August 9, 2024).
For participants who wish to join our call online, please
visit:
https://edge.media-server.com/mmc/p/etm9tt44
Participants who plan to ask questions during the call will need
to register at least 15 minutes prior to the scheduled call start
time using the link provided below. Upon registration, participants
will receive the conference call access information, including
dial-in numbers, a unique pin, and an email with detailed
instructions.
Participant Online Registration:
https://register.vevent.com/register/BI88cb5143d85b4257ac2ba1e1f0e4d8e2
Once completing the registration, please dial-in at least 10
minutes before the scheduled start time of the conference call and
enter the personal pin as instructed to connect to the call.
A replay of the conference call may be accessed within seven
days after the conclusion of the live call at the following
website: https://edge.media-server.com/mmc/p/etm9tt44
The earnings release and the link for the replay are available
at ir.cbak.com.cn.
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 our future results of
operations and financial position, strategy and plans, and our
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. We have 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. Our actual
results may differ materially or perhaps significantly from those
discussed herein, or implied by, these forward-looking
statements.
Any forward-looking statements contained in this press release
are only estimates or predictions of future events based on
information currently available to our management and management's
current beliefs about the potential outcome of future events.
Whether these future events will occur as management anticipates,
whether we will achieve our business objectives, and whether our
revenues, operating results, or financial condition will improve in
future periods are subject to numerous risks. There are a
significant number of factors that could cause actual results to
differ materially from statements made in this press release,
including: significant legal and operational risks associated with
having substantially all of our business operations in China, that the Chinese government may
exercise significant oversight and discretion over the conduct of
our business and may intervene in or influence our operations at
any time, which could result in a material change in our operations
and/or the value of our securities or could significantly limit or
completely hinder our ability to offer or continue to offer
securities to investors and could cause the value of such
securities to significantly decline or be worthless, the effects of
the global Covid-19 pandemic or other health epidemics, changes in
domestic and foreign laws, regulations and taxes, the volatility of
the securities markets; and other risks including, but not limited
to, the ability of the Company to meet its contractual obligations,
the uncertain markets for the Company's products and business,
macroeconomic, technological, regulatory, or other factors
affecting the profitability of our products and solutions that we
discussed or referred to in the Company's disclosure documents
filed with the U.S. Securities and Exchange Commission (the "SEC")
available on the SEC's website at www.sec.gov, including the
Company's most recent Annual Report on Form 10-K as well as in our
other reports filed or furnished from time to time with the SEC.
You should read these factors and the other cautionary statements
made in this press release. If one or more of these factors
materialize, or if any underlying assumptions prove incorrect, our
actual results, performance or achievements may vary materially
from any future results, performance or achievements expressed 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
CBAK Energy
Technology, Inc. and Subsidiaries
|
Condensed
consolidated Balance Sheets
|
As of December 31,
2023 and June 30, 2024
|
(Unaudited)
|
(In US$ except for
number of shares)
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2023
|
|
|
June 30,
2024
|
|
|
|
|
|
|
|
(Unaudited)
|
|
Assets
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
$
|
4,643,267
|
|
|
$
|
9,709,059
|
|
Pledged
deposits
|
|
|
|
54,179,549
|
|
|
|
10,418,508
|
|
Short-term
deposits
|
|
|
|
-
|
|
|
|
34,342,812
|
|
Trade and bills
receivable, net
|
|
|
|
28,653,047
|
|
|
|
32,710,720
|
|
Inventories
|
|
|
|
33,413,422
|
|
|
|
31,226,831
|
|
Prepayments and other
receivables
|
|
|
|
7,459,254
|
|
|
|
5,017,982
|
|
Receivables from a
former subsidiary, net
|
|
|
|
74,946
|
|
|
|
12,620
|
|
Total current
assets
|
|
|
|
128,423,485
|
|
|
|
123,438,532
|
|
|
|
|
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
|
|
91,628,832
|
|
|
|
86,966,492
|
|
Construction in
progress
|
|
|
|
37,797,862
|
|
|
|
36,086,788
|
|
Long-term investments,
net
|
|
|
|
2,565,005
|
|
|
|
2,256,386
|
|
Prepaid land use
rights
|
|
|
|
11,712,704
|
|
|
|
11,281,490
|
|
Intangible assets,
net
|
|
|
|
841,360
|
|
|
|
599,350
|
|
Deposit paid for
acquisition of long-term investments
|
|
|
|
7,101,492
|
|
|
|
15,934,172
|
|
Operating lease
right-of-use assets, net
|
|
|
|
1,084,520
|
|
|
|
3,053,819
|
|
Total assets
|
|
|
$
|
281,155,260
|
|
|
$
|
279,617,029
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
|
Trade and bills
payable
|
|
|
$
|
82,429,575
|
|
|
$
|
71,644,150
|
|
Short-term bank
borrowings
|
|
|
|
32,587,676
|
|
|
|
35,077,469
|
|
Other short-term
loans
|
|
|
|
339,552
|
|
|
|
338,623
|
|
Accrued expenses and
other payables
|
|
|
|
41,992,540
|
|
|
|
33,431,784
|
|
Payables to a former
subsidiary, net
|
|
|
|
411,111
|
|
|
|
418,499
|
|
Deferred government
grants, current
|
|
|
|
375,375
|
|
|
|
482,714
|
|
Product warranty
provisions
|
|
|
|
23,870
|
|
|
|
17,888
|
|
Operating lease
liability, current
|
|
|
|
691,992
|
|
|
|
994,562
|
|
Finance lease
liability, current
|
|
|
|
1,643,864
|
|
|
|
1,424,535
|
|
Income tax
payable
|
|
|
|
-
|
|
|
|
798,715
|
|
Total current
liabilities
|
|
|
|
160,495,555
|
|
|
|
144,628,939
|
|
|
|
|
|
|
|
|
|
|
|
Deferred government
grants, non-current
|
|
|
|
6,203,488
|
|
|
|
5,700,353
|
|
Product warranty
provisions
|
|
|
|
522,574
|
|
|
|
434,724
|
|
Operating lease
liability, non-current
|
|
|
|
475,302
|
|
|
|
2,326,064
|
|
Total
liabilities
|
|
|
|
167,696,919
|
|
|
|
153,090,080
|
|
|
|
|
|
|
|
|
|
|
|
Commitments and
contingencies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
|
|
|
Common stock $0.001 par
value; 500,000,000 authorized; 90,063,396
issued and 89,919,190 outstanding as of December 31,
2023 and
90,083,396 issued and 89,939,190 outstanding as of
June 30, 2024
|
|
|
|
90,063
|
|
|
|
90,083
|
|
Donated
shares
|
|
|
|
14,101,689
|
|
|
|
14,101,689
|
|
Additional paid-in
capital
|
|
|
|
247,465,817
|
|
|
|
247,674,563
|
|
Statutory
reserves
|
|
|
|
1,230,511
|
|
|
|
1,230,511
|
|
Accumulated
deficit
|
|
|
|
(134,395,762)
|
|
|
|
(118,113,850)
|
|
Accumulated other
comprehensive loss
|
|
|
|
(11,601,403)
|
|
|
|
(14,326,079)
|
|
|
|
|
|
116,890,915
|
|
|
|
130,656,917
|
|
Less: Treasury
shares
|
|
|
|
(4,066,610)
|
|
|
|
(4,066,610)
|
|
Total shareholders'
equity
|
|
|
|
112,824,305
|
|
|
|
126,590,307
|
|
Non-controlling
interests
|
|
|
|
634,036
|
|
|
|
(63,358)
|
|
Total equity
|
|
|
|
113,458,341
|
|
|
|
126,526,949
|
|
Total liabilities and
shareholder's equity
|
|
|
$
|
281,155,260
|
|
|
$
|
279,617,029
|
|
CBAK Energy
Technology, Inc. and Subsidiaries
|
Condensed
consolidated Statements of Operations and Comprehensive Income
(Loss)
|
For the three and
six months ended June 30, 2023 and 2024
|
(Unaudited)
|
(In US$ except for
number of shares)
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended
June 30,
|
|
|
Six months ended
June 30,
|
|
|
|
|
2023
|
|
|
2024
|
|
|
2023
|
|
|
2024
|
|
Net revenues
|
|
|
$
|
42,420,870
|
|
|
$
|
47,793,045
|
|
|
$
|
84,817,571
|
|
|
$
|
106,615,477
|
|
Cost of
revenues
|
|
|
|
(38,536,228)
|
|
|
|
(35,065,019)
|
|
|
|
(78,027,185)
|
|
|
|
(75,106,404)
|
|
Gross profit
|
|
|
|
3,884,642
|
|
|
|
12,728,026
|
|
|
|
6,790,386
|
|
|
|
31,509,073
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development expenses
|
|
|
|
(2,980,718)
|
|
|
|
(2,955,509)
|
|
|
|
(5,436,046)
|
|
|
|
(5,771,027)
|
|
Sales and marketing
expenses
|
|
|
|
(963,588)
|
|
|
|
(1,368,373)
|
|
|
|
(1,684,592)
|
|
|
|
(3,092,405)
|
|
General and
administrative expenses
|
|
|
|
(3,582,893)
|
|
|
|
(3,129,994)
|
|
|
|
(6,062,028)
|
|
|
|
(7,222,521)
|
|
Recovery of (provision
for) doubtful
accounts
|
|
|
|
(130,493)
|
|
|
|
673,330
|
|
|
|
(261,660)
|
|
|
|
787,343
|
|
Total operating
expenses
|
|
|
|
(7,657,692)
|
|
|
|
(6,780,546)
|
|
|
|
(13,444,326)
|
|
|
|
(15,298,610)
|
|
Operating income
(loss)
|
|
|
|
(3,773,050)
|
|
|
|
5,947,480
|
|
|
|
(6,653,940)
|
|
|
|
16,210,463
|
|
Finance (expenses)
income, net
|
|
|
|
252,472
|
|
|
|
688,721
|
|
|
|
257,783
|
|
|
|
698,384
|
|
Other income,
net
|
|
|
|
238,040
|
|
|
|
141,975
|
|
|
|
421,253
|
|
|
|
509,413
|
|
Share of loss of equity
investee
|
|
|
|
-
|
|
|
|
18,824
|
|
|
|
-
|
|
|
|
-
|
|
Gain on disposal of
equity investee
|
|
|
|
-
|
|
|
|
26,912
|
|
|
|
-
|
|
|
|
26,912
|
|
Change in fair value of
warrants
|
|
|
|
36,000
|
|
|
|
-
|
|
|
|
121,000
|
|
|
|
-
|
|
Income before income
tax
|
|
|
|
(3,246,538)
|
|
|
|
6,823,912
|
|
|
|
(5,853,904)
|
|
|
|
17,445,172
|
|
Income tax credit
(expenses)
|
|
|
|
307,311
|
|
|
|
(800,727)
|
|
|
|
710,195
|
|
|
|
(1,849,513)
|
|
Net income
(loss)
|
|
|
|
(2,939,227)
|
|
|
|
6,023,185
|
|
|
|
(5,143,709)
|
|
|
$
|
15,595,659
|
|
Less: Net (income) loss
attributable
to non-controlling interest
|
|
|
|
304,237
|
|
|
|
422,277
|
|
|
|
1,128,364
|
|
|
|
686,253
|
|
Net income (loss)
attributable to
CBAK Energy Technology, Inc.
|
|
|
$
|
(2,634,990)
|
|
|
$
|
6,445,462
|
|
|
$
|
(4,015,345)
|
|
|
$
|
16,281,912
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
|
|
(2,939,227)
|
|
|
|
6,023,185
|
|
|
|
(5,143,709)
|
|
|
|
15,595,659
|
|
Other comprehensive
loss
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–
Foreign currency translation
adjustment
|
|
|
|
(6,639,109)
|
|
|
|
(829,769)
|
|
|
|
(5,890,330)
|
|
|
|
(2,735,817)
|
|
Comprehensive (loss)
income
|
|
|
|
(9,578,336)
|
|
|
|
5,193,416
|
|
|
|
(11,034,039)
|
|
|
|
12,859,842
|
|
Less: Comprehensive
(loss) income
attributable to non-controlling
interest
|
|
|
|
643,620
|
|
|
|
423,171
|
|
|
|
1,373,641
|
|
|
|
697,394
|
|
Comprehensive (loss)
income
attributable to CBAK Energy
Technology, Inc.
|
|
|
$
|
(8,934,716)
|
|
|
$
|
5,616,587
|
|
|
$
|
(9,660,398)
|
|
|
$
|
13,557,236
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–
Basic
|
|
|
$
|
(0.03)*
|
|
|
$
|
0.07
|
|
|
$
|
(0.05)
|
|
|
$
|
0.18
|
|
–
Diluted
|
|
|
$
|
(0.03)*
|
|
|
$
|
0.07
|
|
|
$
|
(0.05)
|
|
|
$
|
0.18
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares of common stock:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–
Basic
|
|
|
|
89,029,399
|
|
|
|
89,931,617
|
|
|
|
89,021,424
|
|
|
|
89,931,727
|
|
–
Diluted
|
|
|
|
89,029,399
|
|
|
|
90,111,613
|
|
|
|
89,021,424
|
|
|
|
90,289,544
|
|
View original
content:https://www.prnewswire.com/news-releases/cbak-energy-reports-second-quarter-and-first-half-2024-unaudited-financial-results-302218678.html
SOURCE CBAK Energy Technology, Inc.