CBAK Energy Q1 revenue surges 752% to $80.2M; net income falls to $0.4M from $29.6M

CBAK Energy Technology, Inc.

2022-Q1 EPS reported $0.01 revenue$80,196,298

Net revenues $80.2M (+752% YoY) driven by Hitrans materials business and strong lithium battery demand.
Gross margin shrank to 6.6% from 19.5% due to raw material cost increases.
Net income attributable to shareholders $0.4M vs $29.6M; EPS $0.01 vs $0.35.
Received EUR 28.2M order from European heating/cooling systems provider for lithium-ion batteries.
Cash $5.6M as of Mar 31, 2022, down from $7.4M at Dec 31, 2021.

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