CBAK Energy Q2 2023 net loss $2.6M, revenue down 24.7%; battery business revenue up 27.2% in H1

CBAK Energy Technology, Inc.

2023-Q2 EPS reported -$0.05 revenue$84,817,571

Q2 net revenues $42.4M, down 24.7% YoY; battery business net revenues $22.2M, down 13.5%.
Q2 net loss attributable to shareholders $2.6M vs net income $0.8M YoY; diluted EPS -$0.03.
First half 2023 battery business net revenues $51.8M (+27.2% YoY); overall net revenues $84.8M, -37.8% due to raw materials decline.
Secured EUR116.5M lithium-ion battery order from Viessmann Group for 2024 and RMB180M order from Echom.
Management cites lithium carbonate price volatility for Q2 slowdown; expects demand rebound in H2 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CBAK Energy Technology, Inc. reported second quarter ended June 30, 2023 results: revenue Net revenues were $42.4 million, net income Net loss attributable to shareholders of CBAK Energy was $2.6 million.

Period: second quarter ended June 30, 2023
Revenue: Net revenues were $42.4 million
Net income: Net loss attributable to shareholders of CBAK Energy was $2.6 million
Result: reported results

Exact text from the filing

Second Quarter of 2023 Financial Results Net revenues were $42.4 million, representing a decline of 24.7% compared to $56.3 million in the same period of 2022.

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Source: SEC EDGAR

accession 0001213900-23-064744

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