CBAK Energy Technology, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 06:02 am
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CBAK Energy Technology, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 56.35 million compared to USD 5.89 million a year ago. Net income was USD 0.80519 million compared to USD 2.7 million a year ago.
For the six months, sales was USD 136.55 million compared to USD 15.31 million a year ago. Net income was USD 1.25 million compared to USD 32.31 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0.37 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to USD 0.37 a year ago.
CBAK Energy Technology Inc is a China-based investment holding company. The Company primarily operates through two segments. The CBAK's segment mainly includes the manufacture, commercialization and distribution of a wide variety of standard and customized lithium ion rechargeable batteries for use in a wide array of applications. The Hitrans' segment mainly includes the development and manufacturing of NCM precursor and cathode materials. The Company's products are sold to packing plants operated by third parties primarily for use in mobile phones and other electronic devices. Its products are used in various applications, including electric vehicles (EV), such as electric cars, electric buses, hybrid electric cars and buses and light electric vehicles (LEV), such as electric bicycles, electric motors and sight-seeing cars, and electric tools, energy storage, uninterruptible power supply (UPS), and other high power applications.
CBAK ENERGY TECHNOLOGY, INC. 
