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 fourth quarter ended December 31, 2023 results: revenue $36.8 million, net income $6.6 million.
- Period
- the fourth quarter ended December 31, 2023
- Revenue
- $36.8 million
- Net income
- $6.6 million
- Result
- reported results
Exact text from the filing
Fourth Quarter of 2023 Financial Highlights ● Net revenues from sales of batteries were $36.8 million, an increase of 30.9% from $28.1 million in the same period of 2022. - Net revenues from batteries used in light electric vehicles were $1.4 million, a decrease of 69.5% from $4.5 million in the same period of 2022. - Net revenues from batteries used in electric vehicles were $0.5 million, a decrease of 88.8% from $4.7 million in the same period of 2022. - Net revenues from residential energy supply & uninterruptible supplies were $35.0 million, an increase of 84.3% from $19.0 million in the same period of 2022. ● Gross margin for the battery business was 36.0%, an increase of 27.7 percentage points from 8.3% in the same period of 2022. ● Net income from the battery business was $6.6 million, compared to a net loss of $6.4 million in the same period of 2022.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
CBAK Energy Technology, Inc. reported the full year ended December 31, 2023 results: revenue $133.0 million, net income $13.4 million.
- Period
- the full year ended December 31, 2023
- Revenue
- $133.0 million
- Net income
- $13.4 million
- Result
- reported results
Exact text from the filing
Full Year of 2023 Financial Highlights ● Net revenues from sales of batteries were $133.0 million, an increase of 40.4% from $94.7 million in 2022. - Net revenues from batteries used in light electric vehicles were $5.6 million, a decrease of 12.6% from $6.4 million in 2022. - Net revenues from batteries used in electric vehicles were $2.9 million, a decrease of 38.6% from $4.7 million in 2022. - Net revenues from residential energy supply & uninterruptible supplies were $124.5 million, an increase of 48.9% from $83.6 million in 2022. ● Gross margin for the battery business was 23.8%, an increase of 14.9 percentage points from 8.9% in 2022. ● Net income for the battery business was $13.4 million, compared to a net loss of $7.8 million in 2022.
View on SEC.gov