Cbak Energy Tech ( (CBAT) ) has released its Q1 earnings. Here is a breakdown of the information Cbak Energy Tech presented to its investors.
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CBAK Energy Technology, Inc., a prominent Chinese enterprise, specializes in the development, manufacturing, and sales of high-power lithium and sodium batteries, catering to sectors such as electric vehicles and energy storage. As the first Chinese lithium battery manufacturer listed on NASDAQ, it operates multiple subsidiaries across China.
In its latest earnings report for the first quarter of 2025, CBAK Energy disclosed a significant decline in financial performance, with net revenues dropping by 41% compared to the same period in 2024. This downturn is attributed to a product transition at its Dalian facilities, impacting its customer base in the residential energy supply sector.
Key financial metrics reveal a gross profit of $4.8 million, down 74.43% from the previous year, with a gross margin of 13.7%. The company reported an operating loss of $2.86 million and a net loss of $1.58 million, contrasting sharply with the previous year’s profits. The transition from the older Model 26650 to the new Model 40135 is a significant factor in these results, with expectations for recovery as the transition progresses.
Looking forward, CBAK Energy remains optimistic about its recovery prospects. The company anticipates revenue growth as it completes the manufacturing lines for Model 40135 and as customers finalize product validation. Additionally, its Nanjing facilities continue to show strong growth, supported by robust demand for the Model 32140, and the company is on the verge of securing a long-term order from a key customer.