CBAK Energy Reports Third Quarter and First Nine Months of 2025 Unaudited Financial Results

CBAK Energy Technology, Inc., a leading lithium-ion battery manufacturer and electric energy solution provider in China, has released its unaudited financial results for the third quarter and first nine months of 2025, ending September 30, 2025. The company has shown significant growth in several key financial metrics, driven by a strong performance in its battery raw materials segment.

Financial Highlights

For the third quarter of 2025, CBAK Energy reported net revenues of $60.92 million, a 36.5% increase from $44.63 million in the same period of 2024. The net income attributable to CBAK Energy was $2.65 million, a substantial increase from $17,647 in the third quarter of 2024. The company's battery raw materials segment, Hitrans, saw net revenues of $27.22 million, up 143.7% from $11.17 million in the same period of 2024.

Business and Operational Highlights

The battery business segment reported net revenues of $33.71 million, a slight increase from $33.46 million in the third quarter of 2024. However, the gross profit for this segment decreased by 42.4% due to a decline in orders for the legacy Model 26650 battery as the company transitions to the upgraded Model 40135. The net income from the battery business was $4.53 million, up 122.7% from $2.04 million in the same period of 2024.

In terms of applications, the light electric vehicles segment saw a significant increase in net revenues, reaching $18.17 million, up 269.9% from $4.91 million in the third quarter of 2024. Conversely, the residential energy supply and uninterruptable supplies segment experienced a decline, with net revenues falling to $15.48 million from $28.21 million in the same period of 2024.

Strategic Initiatives and Corporate Developments

CBAK Energy has successfully upgraded its production line from the Model 26650 to the Model 40135 at its Dalian facility and has begun receiving substantial new orders. The company also announced the expected commencement of production at its new Nanjing production lines in mid-November, which will add a further 2 GWh of annual capacity for the Model 32140.

Management's Perspective

Zhiguang Hu, Chief Executive Officer of CBAK Energy, expressed satisfaction with the company's recovery in the third quarter, attributing the strong growth to the rebound in the raw materials industry. He highlighted the successful upgrade to the Model 40135 and the anticipated production commencement at the Nanjing facility as key drivers for future growth.

Jiewei Li, Chief Financial Officer, noted that the new production lines in Dalian and Nanjing are expected to significantly enhance the company's production capacity, enabling it to capture market opportunities and drive sustainable growth.

Future Outlook

Looking ahead, CBAK Energy is optimistic about the continued rebound in raw material prices and the strong demand for its upgraded battery models. The company expects these factors to foster a favorable industry environment and drive significant growth in the coming periods.

Original SEC Filing: CBAK Energy Technology, Inc. [ CBAT ] - 8-K - Nov. 10, 2025