CBAK Energy swings to FY2024 net income of $11.79M from loss of $2.45M in 2023

CBAK Energy Technology, Inc.

Net income attributable to shareholders $11.79M vs net loss $2.45M in 2023; basic EPS $0.13 vs loss $(0.03).
Battery segment net income rose 39.1% to $19.43M; gross margin expanded to 31.5% from 23.8%.
Battery revenues $136.59M (+2.7% YoY); light EV battery revenues up 84% to $10.32M.
Consolidated net revenues fell 13.6% to $176.61M, mainly due to Hitrans raw materials segment.
CEO says Model 32140 demand exceeds supply; expanding production capacity; confident in sustained battery profitability.

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