CBAK Energy Q3 2023: battery revenue +71.5% YoY, net income $6.3M vs loss

CBAK Energy Technology, Inc.

2023-Q3 EPS reported $0.03 revenue$148,258,680

Battery net revenues $44.3M (+71.5% YoY); gross margin 26.4% vs 8.7% YoY
Net income $6.3M vs loss $0.9M; EPS $0.07 vs $0.00
Total net revenues $63.4M (+9.9% YoY); gross profit $12.2M (+254% YoY)
Subsidiary to acquire 5% stake in BAK Power; received RMB33.58M order from Anker
Operating income $5.3M vs operating loss $1.5M in prior year

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 the third quarter ended September 30, 2023 results: revenue $63.4 million, net income $6.3 million, EPS $0.07.

Period: the third quarter ended September 30, 2023
Revenue: $63.4 million
Net income: $6.3 million
EPS: $0.07
Result: reported results

Exact text from the filing

RMB33.58 million from Anker, one of the largest third-party accessories suppliers globally for Apple Inc.’s products. Third quarter of 2023 Financial Results Net revenues were $63.4 million, representing an increase of 9.9% compared to $57.7 million in the same period of 2022. This increase was primarily attributable to growth in the Company’s battery business.

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Source: SEC EDGAR

accession 0001213900-23-084909

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