CBAK Energy posts Q2 net income of $6.45M vs year-ago loss; battery revenue up 60%

CBAK Energy Technology, Inc.

2024-Q2 EPS reported $0.18 revenue$106,615,477

Q2 2024 net income attributable to shareholders of $6.45M ($0.07 EPS), vs net loss of $2.6M in Q2 2023.
Battery segment net revenues were $35.6M in Q2, up 60% YoY; gross margin expanded to 36.3% from 15.4%.
H1 2024 battery business net income reached $19.6M (vs $1.0M loss in H1 2023); total battery revenue up 55% to $80.4M.
Subsidiary CBAK Power secured a $7.0M order from a Renowned European Client in June 2024.
Management disclosed discussions with private equity investors for sodium and lithium battery segments at a higher valuation.

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