CBAK » Topics » Recent Achievements and Highlights

This excerpt taken from the CBAK 8-K filed Feb 13, 2007.

Recent Achievements and Highlights

 

Arranged for $38.4 million in new long-term credit facilities to fund anticipated capital expenditures and working capital requirements

 

 

 

 

Announced plans to build a new research and development (“R&D”) center in Shenzhen, China

This excerpt taken from the CBAK 8-K filed Aug 23, 2006.

Recent Achievements and Highlights

 

    Sales of high power battery cells to A123 Systems exceed expectations in the third quarter of FY06, customer requests increases in monthly production

 

    Began construction of a battery pack assembly line to supply fully assembled lithium phosphate batteries to A123

 

    Approved as a supplier of mobile phone cells for original equipment manufacturer (“OEM”) BenQ Siemens. The company is currently in the process of negotiating a business arrangement with BenQ Siemens

 

    Installed new automated production capabilities on mobile phone cell products driving further reductions in cost and improvements in process control capabilities. This new capability will increase the company’s competitive posture to the premier cell phone OEM’s

 

    Launched new automated production line for laptop cells , currently negotiating with a number of prospective customers

 

    Company affirms full-year guidance of net income of approximately $24.0 million
This excerpt taken from the CBAK 8-K filed May 11, 2006.

Recent Achievements and Highlights

 

The Company leveraged its increased manufacturing capacity for battery cells (which is currently at 22 million pieces monthly) to generate record quarterly revenue of $38.2 million.

 

 

 

 

At the end of April, the Company commenced trial production of cylindrical laptop computer battery cells and expects to begin ramping production by June/July. Product samples have been sent to a major OEM for testing, and the Company has received purchase commitments for such cells from customers located in Taiwan. The Company is working diligently to complete the product qualification process, which it expects to result in purchase orders.

 

 

 

 

The Company began mass production of lithium phosphate battery cells for its customer A123Systems.

 

 

 

 

The Company operated its Lithium Polymer line at full capacity, or approximately 1 million cells per month. Lithium polymer batteries are small-format batteries which can be customized in size to a particular application. Typical applications for Lithium Polymer batteries include MP3 players and Bluetooth headsets

 

 

 

 

During the quarter, 44% of the Company’s revenues were derived from OEM customers and 56% was generated by sales to replacement manufacturers. Increasing sales to OEMs is one of BAK’s main objectives for 2006.

 

 

 

 

The election of four additional members to the Company’s board of directors, including members Richard Goodner, Joseph R. Mannes, and Jay J. Shi who are expected to be independent, as well as Huanyu Mao, the Company’s chief technical officer and chief operating officer will become effective on May 12.




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