CBAK Energy Q1 revenue soars 99.3% to $69.6M, but gross margin drops to 1.5% and net loss widens to $9.3M

CBAK Energy Technology, Inc.

Consolidated net revenues $69.62M (up 99.3% YoY); battery segment revenue $37.52M (up 84.3%).
LEV segment revenue surged 441.6% to $15.41M, led by India, Vietnam, and Africa.
Hitrans raw materials revenue up 120.2% to $32.10M; segment net income turned to $1.57M from ($1.75M).
Gross margin fell to 1.5% from 13.7% due to new capacity ramp-up costs and delayed raw material pass-through.
Net loss attributable to shareholders $9.29M vs ($1.58M); cash and equivalents $98.6M, operating cash flow $22.28M.

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