{"id":8236,"date":"2022-04-14T09:30:00","date_gmt":"2022-04-14T09:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3725492_CN25492_0"},"modified":"2022-04-14T09:30:00","modified_gmt":"2022-04-14T09:30:00","slug":"cbak-energy-reports-fourth-quarter-and-full-year-2021-unaudited-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=8236","title":{"rendered":"CBAK Energy Reports Fourth Quarter and Full Year 2021 Unaudited Financial Results"},"content":{"rendered":"<div id=\"dvContent\" readability=\"312.79032476625\">\n<p><i>&#8211;Net Revenues up 80% year over year in the fourth quarter \u2013<\/i><\/p>\n<p><i>&#8211;Full-Year Net Revenues up 40% year over year in 2021\u2013<\/i><\/p>\n<p><i>&#8211;CBAK Energy turns to profitability in 2021<\/i><\/p>\n<p><span><span class=\"xn-location\">DALIAN, China<\/span><\/span>, <span><span class=\"xn-chron\">April 14, 2022<\/span><\/span> \/PRNewswire\/ &#8212;&nbsp;CBAK Energy Technology, Inc. (NASDAQ: CBAT) (&#8220;CBAK Energy,&#8221; or the &#8220;Company&#8221;) a leading lithium-ion battery manufacturer and electric energy solution provider in <span class=\"xn-location\">China<\/span>, today reported its unaudited financial results for the fourth quarter and full year ended <span class=\"xn-chron\">December 31, 2021<\/span>.<\/p>\n<p><b>Fourth Quarter 2021 Financial Highlights <\/b><\/p>\n<ul type=\"disc\">\n<li><b><span>Net revenues<\/span><\/b><span> were <span class=\"xn-money\">$27.8 million<\/span>, an increase of <\/span><span>80%<\/span><span> from <span class=\"xn-money\">$15.4 million<\/span> in the same period of 2020.<\/span> <\/li>\n<li><b><span>Gross profit<\/span><\/b> was <span class=\"xn-money\">$1.0 million<\/span>, <span id=\"spanHghlt99dc\">similar to tha<\/span>t in the same period of 2020. <\/li>\n<li><b><span>Gross margin<\/span><\/b> was <span id=\"spanHghlt67b5\">3.7<\/span>%, compared to<span id=\"spanHghlt40e4\"> 6.8<\/span>% from the same period of 2020. <\/li>\n<li><b>Net <span id=\"spanHghlt4190\">income<\/span> attributable to share<\/b><b><span>holder<\/span><\/b><b><span>s of CBAK Energy <\/span><\/b><span>was <span class=\"xn-money\">$9.2 million<\/span>, compared to a net loss<\/span> <span>attributable to shareholders of CBAK Energy of <span class=\"xn-money\">$4.3 million<\/span> in the same period of 2020.<\/span><\/li>\n<\/ul>\n<p><b>Full Year 2021 Financial Highlights <\/b><\/p>\n<ul type=\"disc\">\n<li><b><span>Net revenues<\/span><\/b><span> were <span class=\"xn-money\">$52.7 million<\/span>, an increase of 40% from <span class=\"xn-money\">$37.6 million<\/span> in 2020.<\/span> <\/li>\n<li><b><span>Gross profit<\/span><\/b><span> was <span class=\"xn-money\">$5.1 million<\/span>, an increase of 88% from <span class=\"xn-money\">$2.7 million<\/span> in 2020. <\/span><\/li>\n<li><b><span>Gross margin<\/span><\/b> was <span id=\"spanHghlt71a1\">9.7<\/span>%, an increase of <span id=\"spanHghlt02f4\">250<\/span> basis points from 2020. <\/li>\n<li><b>Net<span id=\"spanHghltcc26\">&nbsp;income<\/span> attributable to shareholders of CBAK Energy <\/b><span>was $<\/span><span>61.5<\/span><span> million, compared to a net loss attributable to shareholders of CBAK Energy of <span class=\"xn-money\">$7.8 million<\/span> in 2020.<\/span><\/li>\n<\/ul>\n<p><span class=\"xn-person\">Yunfei Li<\/span>, Chairman and Chief Executive Officer of the Company, commented: &#8220;2021 was a major year for CBAK Energy as we&#8217;ve gained significant traction across multiple fronts. We continued to strengthen our competitive advantages through innovative technology and product developments. We also expanded our production capacity as scheduled to address increasing battery demands for light electric vehicles (&#8220;LEV&#8221;) and electric vehicles (&#8220;EV&#8221;). Moreover, we brought in materials for lithium-ion batteries with an acquisition of a majority stake in Zhejiang Hitrans Lithium Battery Technology Co. to build out and enhance our battery product ecosystem as we seek stable raw material supply and drive greater revenue for our business.&#8221;&nbsp;<\/p>\n<p>Mr. Li continued: &#8220;As 2022 evolves, LEVs and EVs will maintain their strong growth momentum and we will continue to focus on scaling up capacity and expanding our battery material business. Looking forward, we believe these growth drivers and strategies will cement our competitive strengths and empower us to become a frontrunner and leader in lithium-ion battery production and electric energy solutions.&#8221;&nbsp;<\/p>\n<p>Xiangyu Pei, Interim Chief Financial Officer of the Company, noted: &#8220;We continued to expand revenue and gross margin levels that are driven by stronger sales of high power lithium batteries as well as the addition of the material business brought by the acquisition of Hitrans. Notably, our revenues grew 40% year-over-year to <span class=\"xn-money\">$52.7 million<\/span> in 2021 while gross margin increased by <span id=\"spanHghlte7dd\">250<\/span> basis points to<span id=\"spanHghlt8cc7\">&nbsp;9.7<\/span>%. We<span id=\"spanHghlt531e\">&nbsp;also<\/span> turned to profitability in 2021 with net <span id=\"spanHghlt613d\">income<\/span> of <span class=\"xn-money\">$61.5 million<\/span> attributable to shareholders of CBAK Energy, from a loss of <span class=\"xn-money\">$7.8 million<\/span> in the previous year. Importantly, we continued to invest in new headcounts, new business as well as research and development to drive further growth. We believe these investments, combined with our sound financial position and powerful battery product ecosystem, will enable us to sustain long-term, profitable growth.&#8221;<\/p>\n<p><b>Fourth Quarter 2021 Business Highlights &amp; Recent Developments<\/b><\/p>\n<ul type=\"disc\">\n<li>In <span class=\"xn-chron\">March 2022<\/span>, the Company announced that revenues of Zhejiang Hitrans Lithium Battery Technology Co. (&#8220;Hitrans&#8221;), a leading lithium-ion battery material supplier in <span class=\"xn-location\">China<\/span>, reached almost <span class=\"xn-money\">$100 million<\/span> in the first nine months of 2021 before the acquisition of its majority stake closed, four times CBAK Energy&#8217;s revenues in the same period. <\/li>\n<li>In <span class=\"xn-chron\">December 2021<\/span>, CBAK Energy announced an agreement with AZAPA R&amp;D China (&#8220;AZAPA&#8221;) to develop a customized battery pack for the Sino-Japan joint venture that designs and produces electronic and battery control systems for electric vehicles. <\/li>\n<li>In <span class=\"xn-chron\">November 2021<\/span>, Dalian CBAK Power Battery Co., a wholly-owned subsidiary of CBAK Energy, completed its previously announced acquisition of 81.56% equity interests in Hitrans. <\/li>\n<li>In <span class=\"xn-chron\">November 2021<\/span>, CBAK Energy announced it has begun operations at its lithium battery manufacturing plant in the city of <span class=\"xn-location\">Nanjing<\/span> in <span class=\"xn-location\">China&#8217;s<\/span> <span class=\"xn-location\">Jiangsu<\/span> province with an initial capacity of 0.7 GWh. The Company has also started operating a new production line at its <span class=\"xn-location\">Dalian<\/span> facility with a capacity of 0.4 GWh.<\/li>\n<\/ul>\n<p><b>Fourth Quarter 2021 Financial Results<\/b><\/p>\n<p><b>Net revenues<\/b>&nbsp;were <span class=\"xn-money\">$27.8 million<\/span>, an increase of 80% from <span class=\"xn-money\">$15.4 million<\/span> in the same period of 2020. This was driven mostly by strong sales of high power lithium batteries, and additional revenues from lithium battery materials brought by the acquisition of Hitrans from <span class=\"xn-chron\">Nov. 26, 2021<\/span> to <span class=\"xn-chron\">Dec. 31, 2021<\/span>.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prngen1\">\n<tbody readability=\"7\">\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Net Revenues by End-product Applications<\/b><br \/><b>($ thousands)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Fourth<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Quarter<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2020<\/b><br \/><b>Fourth<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Quarter<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>% <br \/>Change<br \/>YoY<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b><i>Segment 1<\/i><\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>High power lithium batteries used in:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp; Uninterruptable supplies<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$9,308<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$5,641<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">65<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp; Light electric vehicles<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">485<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3631<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp; Electric vehicles<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">142<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">-483<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">-129<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6.5\">\n<td class=\"prngen2\" readability=\"8\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b><i>Segment 2 (Hitrans)<\/i><\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Materials for use in manufacturing of lithium battery <br \/>cell<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp; &nbsp; Precursor&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp;&nbsp; NiCoMn<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prnsbtb1 prnrbrb1 prnsbbs prntar prnpl6 prnsblb1 prnpr6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><\/span>&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><\/span>&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><\/span>&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">9,139<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">8,726<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Trading of raw materials used in lithium batteries<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10,249<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">-100<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbts prnrbrb1 prnsbbb1 prnpl6 prnsblb1 prnpr6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total <\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>$27,802<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>$15,420<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>80<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>Cost of revenues <\/b>was&nbsp;$26.8 million, an increase of 86% from <span class=\"xn-money\">$14.4 million<\/span> in the same period of 2020. This was primarily due to increased net revenues.<\/p>\n<p><b><span>Gross profit<\/span><\/b> was <span class=\"xn-money\">$1.0 million<\/span>, <span id=\"spanHghlt9798\">similar to that i<\/span>n the same period of 2020. Gross margin was <span id=\"spanHghlt886e\">3.7<\/span>%, compared to <span id=\"spanHghlt5265\">6.8%<\/span> in the same period of 2020. The change in gross margin was primarily due to the increase in raw material costs &nbsp;<\/p>\n<p><b>Total operating expenses<\/b>&nbsp;were <span class=\"xn-money\">$6.8 million<\/span>, a decrease of 3% from <span class=\"xn-money\">$7.0 million<\/span> in the same period of 2020, as we recovered certain doubtful accounts and there&#8217;s no impairment charge on property, plant, and equipment, which offsets the impact from increased expenses related to research and development, sales and marketing, and general administration.<\/p>\n<ul type=\"disc\">\n<li><i>Research and development expenses<\/i> were <span class=\"xn-money\">$1.9 million<\/span>, an increase of 252% from <span class=\"xn-money\">$0.5 million<\/span> in the same period of 2020. <\/li>\n<li><i>Sales and marketing expenses<\/i> were <span class=\"xn-money\">$1.0 million<\/span>, an increase of 197% from <span class=\"xn-money\">$0.3 million<\/span> in the same period of 2020. <\/li>\n<li><i>General and administrative expenses<\/i>&nbsp;were <span class=\"xn-money\">$4.2 million<\/span>, an increase of 272% from <span class=\"xn-money\">$1.1 million<\/span> in the same period of 2020.&nbsp; <\/li>\n<li><i>Recovery of doubtful accounts<\/i>&nbsp;was <span class=\"xn-money\">$0.3 million<\/span>, compared to provision for doubtful accounts of <span class=\"xn-money\">$0.7 million<\/span> in the same period of 2020.<\/li>\n<\/ul>\n<p><b>Operating loss<\/b>&nbsp;was <span class=\"xn-money\">$5.8 million<\/span>, compared to <span class=\"xn-money\">$6.0 million<\/span> in the same period of 2020.<\/p>\n<p><b>Finance income, net<\/b>&nbsp;was <span class=\"xn-money\">$0.6 million<\/span>, compared to finance expenses of <span class=\"xn-money\">$0.2 million<\/span> in the same period of 2020.<\/p>\n<p><b>Change in fair value of warrants<\/b>&nbsp;was <span class=\"xn-money\">$4.6 million<\/span>, compared to <span class=\"xn-money\">$2.1 million<\/span> in the same period of 2020. The change in fair value of the warrants liability is mainly due to share price decline.<\/p>\n<p><b>Net <span id=\"spanHghltbb27\">income <\/span>attributable to shareholders of CBAK Energy <\/b>was <span class=\"xn-money\">$9.2 million<\/span>, compared to<span id=\"spanHghlt1121\">&nbsp;a<\/span><span id=\"spanHghlt34ed\">&nbsp;<\/span>net loss attributable to shareholders of CBAK Energy of <span class=\"xn-money\">$4.3 million<\/span> in the same period of 2020.<\/p>\n<p><b>Basic and diluted income per share<\/b>&nbsp;were both <span class=\"xn-money\">$0.1<\/span>. In comparison, basic and diluted loss per share in the same period of 2020 were both <span class=\"xn-money\">$0.07<\/span>.<\/p>\n<p><b>Cash and cash equivalents <\/b>were <span class=\"xn-money\">$7.4 million<\/span> as of <span class=\"xn-chron\">December 31, 2021<\/span>, compared to <span class=\"xn-money\">$2.0 million<\/span> as of <span class=\"xn-chron\">September 30, 2021<\/span>.<\/p>\n<p><b>Full Year 2021 Financial Results<\/b><\/p>\n<p><b>Net revenues<\/b>&nbsp;were <span class=\"xn-money\">$52.7 million<\/span>, an increase of 40% from <span class=\"xn-money\">$37.6 million<\/span> in 2020. This was primarily due to stronger sales of batteries for uninterruptable supplies and LEVs as well as the addition of the material business brought by the acquisition of Hitrans from <span class=\"xn-chron\">Nov. 26, 2021<\/span> to <span class=\"xn-chron\">Dec. 31, 2021<\/span>.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tbody readability=\"6\">\n<tr readability=\"3\">\n<td class=\"prngen11\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Net Revenues by End-product Applications<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>% <br \/>Change<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>($ thousands)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Full&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Full<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>YoY<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Year<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Year<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen14\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b><i>Segment 1<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen11\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>High power lithium batteries used in:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen11\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp; Uninterruptable supplies<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$33,308<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$22,749<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">46<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen11\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp; Light electric vehicles<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">733<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">39<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,779<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtb1 prnrbrb1 prnvam prnsbbs prnpl6 prnsblb1 prnpr6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp; Electric vehicles<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">244<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">260<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">-6<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b><i>Segment 2 (Hitrans)<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen11\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Materials for use in manufacturing of lithium battery<br \/>cell<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp;&nbsp; Precursor<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen10\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp; &nbsp; NiCoMn&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,139<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8,726<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen11\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Trading of raw materials used in lithium batteries<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">520<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,518<\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">-96<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbts prnrbrb1 prnvam prnsbbb1 prnpl6 prnsblb1 prnpr6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>$52,670<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>$37,566<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>40<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>Cost of revenues <\/b>was&nbsp;$47.6 million, an increase of 36% from <span class=\"xn-money\">$34.9 million<\/span> in 2020. This was primarily attributed to increased net revenues.<\/p>\n<p><b>Gross profit<\/b> was <span class=\"xn-money\">$5.1 million<\/span>, an increase of 88% from <span class=\"xn-money\">$2.7 million<\/span> in 2020. Gross margin was <span id=\"spanHghlt860a\">9.7<\/span>%, an increase of <span id=\"spanHghlt199f\">2.5<\/span> percentage points from 2020. The improvement in gross margin was primarily attributed to the increase in the quality passing rate of products, which was a result of CBAK Energy&#8217;s quality control and upgrades on production lines.&nbsp;<\/p>\n<p><b>Total operating expenses<\/b>&nbsp;were <span class=\"xn-money\">$16.8 million<\/span>, an increase of 50% from <span class=\"xn-money\">$11.2 million<\/span> in 2020. Most of the increase in all expense categories was due to growing headcount and the acquisition of Hitrans.<\/p>\n<ul type=\"disc\">\n<li><i>Research and development expenses<\/i>&nbsp;were <span class=\"xn-money\">$5.3 million<\/span>, an increase of 214% from <span class=\"xn-money\">$1.7 million<\/span> in 2020. The increase was mainly due to the increase in salaries, and the acquisition of Hitrans. <\/li>\n<li><i>Sales and marketing expenses<\/i>&nbsp;were <span class=\"xn-money\">$2.3 million<\/span>, an increase of 228% from <span class=\"xn-money\">$0.7 million<\/span> in 2020. The increase was mainly due to the increase in salaries, the acquisition of Hitrans, and expanded sales and marketing efforts. <\/li>\n<li><i>General and administrative expenses<\/i>&nbsp;were <span class=\"xn-money\">$10.0 million<\/span>, an increase of 168% from <span class=\"xn-money\">$3.7 million<\/span> in 2020.&nbsp; The increase was mainly due to Nasdaq listing expenses, the increase in salaries resulting from the Hitrans&#8217; acquisition and the new facility in <span class=\"xn-location\">Nanjing<\/span> as well as the increase in consultancy fees. <\/li>\n<li><i>Recovery of doubtful accounts<\/i>&nbsp;was <span class=\"xn-money\">$0.8 million<\/span>, compared to provision for doubtful accounts of <span class=\"xn-money\">$0.7 million<\/span> in 2020.<\/li>\n<\/ul>\n<p><b>Operating loss<\/b>&nbsp;was <span class=\"xn-money\">$11.7 million<\/span>, compared to <span class=\"xn-money\">$8.5 million<\/span> in 2020.<\/p>\n<p><b>Finance income, net<\/b>&nbsp;was <span class=\"xn-money\">$0.8 million<\/span>, compared to finance expenses of <span class=\"xn-money\">$1.4 million<\/span> in 2020, representing an improvement of <span class=\"xn-money\">$2.2 million<\/span> as a result of lower loan balances in 2021 and interest income generated from security deposit to finance for the issuance of bills payable.<\/p>\n<p><b>Change in fair value of warrants<\/b>&nbsp;was <span class=\"xn-money\">$61.8 million<\/span>, compared to <span class=\"xn-money\">$2.1 million<\/span> in 2020. The change in fair value of the warrants liability is mainly due to share price decline.<\/p>\n<p><b>Net<span id=\"spanHghlt52d1\">&nbsp;income<\/span> <\/b><b>attributable to shareholders of CBAK Energy<\/b>&nbsp;was <span class=\"xn-money\">$61.5 million<\/span>, compared to <span id=\"spanHghlt74dc\">a<\/span>&nbsp;net loss attributable to shareholders of CBAK Energy of <span class=\"xn-money\">$7.8 million<\/span> in 2020.<\/p>\n<p><b>Basic and diluted income per share<\/b> were both <span class=\"xn-money\">$0.7<\/span><span id=\"spanHghltb98e\">0<\/span> In comparison, basic and diluted loss per share in 2020 were both <span class=\"xn-money\">$0.1<\/span><span id=\"spanHghltbbba\">3<\/span>.<\/p>\n<p><b>Conference Call<\/b><\/p>\n<p>CBAK&#8217;s&nbsp;management will host an earnings conference call at <span class=\"xn-chron\">8:00 AM<\/span> U.S. Eastern Time on&nbsp;Thursday, April 14, 2022 (8:00 PM&nbsp;Beijing\/Hong Kong Time on&nbsp;April 14, 2022).<\/p>\n<p>For participants who wish to join the call, please register in advance for the conference using the link provided below at least 15 minutes prior to the scheduled call start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, Direct Event passcode, a unique registrant ID and an email with detailed instructions to join the conference call.<\/p>\n<p>Participant Online Registration:&nbsp;<\/p>\n<p>http:\/\/apac.directeventreg.com\/registration\/event\/1846656&nbsp;<\/p>\n<p>Once completing the registration, please dial-in at least 10 minutes before the scheduled start time of the earnings call and enter the Direct Event passcode and registrant ID as instructed to connect to the call.<\/p>\n<p>Additionally, a live and archived webcast of the conference call will be available at <a target=\"_blank\" href=\"https:\/\/edge.media-server.com\/mmc\/p\/4hmkrmif\" rel=\"nofollow noopener\">https:\/\/edge.media-server.com\/mmc\/p\/4hmkrmif<\/a><\/p>\n<p>A replay of the conference call may be accessed by phone approximately two hours after the conclusion of the live call at the following numbers until <span class=\"xn-chron\">April 22, 2022<\/span>. To access the replay, please reference the conference ID 1846656.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tbody>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">International<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">+61-2-8199-0299<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">United States<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">+1-855-452-5696<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Hong Kong, China<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">+852-800-963-117<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mainland, China<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">+86-800-988-0552<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\"><\/td>\n<td class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">+86-400-820-9703<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>About CBAK Energy<\/b><\/p>\n<p>CBAK Energy Technology, Inc. (NASDAQ:CBAT\uff09is a leading high-tech enterprise in <span class=\"xn-location\">China<\/span> engaged in the development, manufacturing, and sales of new energy high power lithium batteries. The applications of the Company&#8217;s products and solutions include electric vehicles, light electric vehicles, electric tools, energy storage, uninterruptible power supply (UPS), and other high-power applications. In&nbsp;January 2006, CBAK Energy became the first lithium battery manufacturer in&nbsp;China&nbsp;listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in&nbsp;Dalian&nbsp;and&nbsp;Nanjing, as well as a large-scale R&amp;D and production base in&nbsp;Dalian.<\/p>\n<p>For more information, please visit&nbsp;<a target=\"_blank\" href=\"http:\/\/www.cbak.com.cn\/\" rel=\"nofollow noopener\">www.cbak.com.cn<\/a>.<\/p>\n<p><b>Safe Harbor Statement<\/b><\/p>\n<p>This press release contains &#8220;forward-looking statements&#8221; that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;can,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221; &#8220;estimates,&#8221; &#8220;expects,&#8221; &#8220;intends,&#8221; &#8220;may,&#8221; &#8220;plans,&#8221; &#8220;potential,&#8221; &#8220;predicts,&#8221; &#8220;should,&#8221; or &#8220;will&#8221; or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.<\/p>\n<p>Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management&#8217;s current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks.&nbsp; There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in <span class=\"xn-location\">China<\/span>, the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and\/or the value of our securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, trading in our securities may be prohibited under the Holding Foreign Companies Accountable Act if the PCAOB subsequently determines our audit work is performed by auditors that the PCAOB is unable to inspect or investigate completely, the effects of the global Covid-19 pandemic, changes in domestic and foreign laws, regulations and taxes, uncertainties related to <span class=\"xn-location\">China&#8217;s<\/span> legal system and economic, political and social events in <span class=\"xn-location\">China<\/span>, the volatility of the securities markets; and other risks including, but not limited to, the ability of the Company to meet its contractual obligations, the uncertain market for the Company&#8217;s lithium battery cells and business, macroeconomic, technological, regulatory, or other factors affecting the profitability of battery cells designed for energy storage that we discussed or referred to in the Company&#8217;s disclosure documents filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) available on the SEC&#8217;s website at <a href=\"http:\/\/www.sec.gov\" rel=\"nofollow\">www.sec.gov<\/a>, including the Company&#8217;s most recent Annual Report on Form 10-K as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.<\/p>\n<p><b>For investor and media inquiries, please contact:<\/b><\/p>\n<p>In <span class=\"xn-location\">China<\/span>:<\/p>\n<p>CBAK Energy Technology, Inc.<br \/>Investor Relations Department<br \/>Phone: 86-411-39185985<br \/>Email: <a target=\"_blank\" href=\"mailto:ir@cbak.com.cn\" rel=\"nofollow noopener\">ir@cbak.com.cn<\/a><\/p>\n<p>The Blueshirt Group<br \/>Ms. <span class=\"xn-person\">Feifei Shen<\/span><br \/>Phone: +86 13466566136<br \/>Email: <a target=\"_blank\" href=\"mailto:feifei@blueshirtgroup.com\" rel=\"nofollow noopener\">feifei@blueshirtgroup.com<\/a><\/p>\n<p>The Blueshirt Group<br \/>Ms. <span class=\"xn-person\">Suwen Feng<\/span><br \/>Phone: +86 13917110134<br \/>Email: <a target=\"_blank\" href=\"mailto:suwen@blueshirtgroup.com\" rel=\"nofollow noopener\">suwen@blueshirtgroup.com<\/a><\/p>\n<p>In <span class=\"xn-location\">the United States<\/span>:<\/p>\n<p>The Blueshirt Group<br \/>Ms.&nbsp;Julia Qian<br \/>Phone: +1 973-619-3227<br \/>Email: <a target=\"_blank\" href=\"mailto:Julia@blueshirtgroup.com\" rel=\"nofollow noopener\">Julia@blueshirtgroup.com<\/a>&nbsp;&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tbody readability=\"47\">\n<tr readability=\"7.5\">\n<td colspan=\"8\" nowrap=\"nowrap\" class=\"prnsbtb1 prnrbrb1 prnvab prnsbbb1 prntac prnpl10 prnsblb1 prnpr6\" readability=\"10\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>CBAK&nbsp;Energy Technology, Inc. and Subsidiaries<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Unaudited Condensed Consolidated Balance Sheets<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(In $ except for number of shares)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>December&nbsp;31,<br \/>2020<\/i><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>December&nbsp;31,<br \/>2021<\/i><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Assets<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>Current assets<\/i><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,681,750<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,357,875<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Pledged deposits<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8,989,748<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">18,996,749<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Trade accounts and bills receivable, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29,571,274<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">49,907,129<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Inventories<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,252,845<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">30,133,340<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Prepayments and other receivables<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,439,544<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,746,990<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Receivables from former subsidiary<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,263,955<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Amount due from non-controlling interest, current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">125,883<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Amount due from related party, current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">472,061<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Income tax recoverable<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">47,189<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Investment in sales-type lease, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">235,245<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">790,516<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total current assets<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">63,170,406<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">122,841,687<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"6\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"7\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Property, plant and equipment, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">41,040,370<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">90,042,773<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Construction in progress<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">30,193,309<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27,343,092<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Non-marketable equity securities<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">712,930<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Prepaid land use rights<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,500,780<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,797,230<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Intangible assets, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,807<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,961,739<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating lease right-of-use assets, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,968,032<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Investment in sales-type lease, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">850,407<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">838,528<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Amount due from related party, non-current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">62,941<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred tax assets<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,403,813<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Goodwill<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,645,232<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total assets<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">142,767,079<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">262,617,997<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Liabilities<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>Current liabilities<\/i><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Trade accounts and bills payable<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,352,292<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">65,376,212<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Short-term bank borrowings<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8,811,820<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Current maturities of long-term bank loans<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,739,546<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other short-term loans<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,253,869<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,679,122<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Accrued expenses and other payables<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,645,459<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">22,963,700<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Payables to former subsidiaries, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">626,990<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">326,507<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred government grants, current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">151,476<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,834,481<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Product warranty provisions<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">155,888<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">127,837<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Warrants liability<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">17,783,000<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,846,000<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating lease liability, current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">801,797<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total current liabilities<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">73,708,520<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">112,767,476<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred government grants, non-current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,304,832<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,189,196<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Product warranty provisions<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,835,717<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,900,429<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Long term tax payable<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,511,182<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating lease liability, non-current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">876,323<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total liabilities<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">90,360,251<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">121,733,424<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Commitments and contingencies<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Shareholders&#8217; equity<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"24\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"19\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Common stock $0.001 par value; 500,000,000 authorized; 79,310,249 <br \/>&nbsp; issued and 79,166,043 outstanding as of December 31, 2020; and <br \/>&nbsp; 88,849,222 issued and 88,705,016 outstanding as of December 31, <br \/>&nbsp; 2021<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">79,310<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">88,849<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Donated shares<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,101,689<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,101,689<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Additional paid-in capital<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">225,278,113<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">241,946,362<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Statutory reserves<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,230,511<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,230,511<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Accumulated deficit<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(183,984,311)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(122,498,259)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Accumulated other comprehensive loss<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(239,609)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,489,017<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56,465,703<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">137,358,169<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: Treasury shares<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4,066,610)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4,066,610)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total shareholders&#8217; equity<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52,399,093<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">133,291,559<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Non-controlling interests<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,735<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,593,014<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total equity<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52,406,828<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">140,884,573<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen24\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total liabilities and shareholder&#8217;s equity<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">142,767,079<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">262,617,997<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tbody readability=\"21\">\n<tr readability=\"7.5\">\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen3\" readability=\"10\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>CBAK&nbsp;Energy Technology, Inc. and Subsidiaries<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Unaudited Condensed Consolidated Statements of Operations and Comprehensive <br \/>Income (Loss)<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(In $ except for number of shares)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;<i>Year ended<\/i> &nbsp;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>Year ended<\/i><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>December&nbsp;31,<br \/>2020<\/i><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\"><\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>December&nbsp;31,<br \/>2021<\/i><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net revenues<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37,566,152<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52,669,733<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Cost of revenues<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(34,852,132)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(47,559,243)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Gross profit<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,714,020<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,110,490<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating expenses:<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Research and development expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,678,895)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(5,274,316)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Sales and marketing expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(701,404)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,301,720)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">General and administrative expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3,745,676)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10,027,349)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Impairment charge on property, plant and equipment<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4,345,811)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(Provision for) recovery of doubtful accounts<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(721,737)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">780,389<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total operating expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11,193,523)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(16,822,996)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating loss<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(8,479,503)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11,712,506)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Finance expenses, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,399,095)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">784,880<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen5\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other income (expenses), net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(40,170)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,644,363<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Impairment of non-marketable equity securities<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(692,639)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Changes in fair value of warrants liability<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,072,000<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">61,802,000<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(Loss) income before income tax<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7,846,768)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">53,826,098<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Income tax credit, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,733,046<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net (loss) income<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7,846,768)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">61,559,144<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: Net loss (income) attributable to non-controlling interests<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">39,870<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(73,092)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen5\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp; &nbsp;Net (loss) income attributable to shareholders of CBAK Energy <br \/>&nbsp; &nbsp; &nbsp;Technology, Inc.<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7,806,898)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">61,486,052<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net (loss) income<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7,846,768)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">61,559,144<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other comprehensive income (loss)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2013 Foreign currency translation adjustment<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,499,949<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,725,768<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Comprehensive (loss) income<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(6,346,819)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">64,284,912<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen22\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: Comprehensive loss (income) attributable to non-controlling<br \/>&nbsp;interests<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">45,042<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(70,234)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen5\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Comprehensive (loss) income attributable to CBAK Energy <br \/>&nbsp; &nbsp; Technology, Inc.<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(6,301,777)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">64,214,678<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(Loss) Income per share<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2013 Basic<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.13)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.70<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2013 Diluted<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.13)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.70<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen5\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average number of shares of common stock:<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2013 Basic<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">61,992,386<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">87,605,493<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2013 Diluted<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">61,992,386<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">87,881,851<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p id=\"PURL\"><img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN25492&amp;sd=2022-04-14\"> View original content:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/cbak-energy-reports-fourth-quarter-and-full-year-2021-unaudited-financial-results-301525641.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/cbak-energy-reports-fourth-quarter-and-full-year-2021-unaudited-financial-results-301525641.html<\/a><\/p>\n<\/p><\/div>\n<p>Source: CBAK Energy Technology, Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8211;Net Revenues up 80% year over year in the fourth quarter \u2013 &#8211;Full-Year Net Revenues up 40% year over year in 2021\u2013 &#8211;CBAK Energy turns to profitability in 2021 DALIAN, China, April 14, 2022 \/PRNewswire\/ &#8212;&nbsp;CBAK Energy Technology, Inc. (NASDAQ: CBAT) (&#8220;CBAK Energy,&#8221; or the &#8220;Company&#8221;) a leading lithium-ion battery manufacturer and electric energy solution [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":8237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-8236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CBAK Energy Reports Fourth Quarter and Full Year 2021 Unaudited Financial Results - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=8236\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBAK Energy Reports Fourth Quarter and Full Year 2021 Unaudited Financial Results - My Blog\" \/>\n<meta property=\"og:description\" content=\"&#8211;Net Revenues up 80% year over year in the fourth quarter \u2013 &#8211;Full-Year Net Revenues up 40% year over year in 2021\u2013 &#8211;CBAK Energy turns to profitability in 2021 DALIAN, China, April 14, 2022 \/PRNewswire\/ &#8212;&nbsp;CBAK Energy Technology, Inc. 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(NASDAQ: CBAT) (&#8220;CBAK Energy,&#8221; or the &#8220;Company&#8221;) a leading lithium-ion battery manufacturer and electric energy solution [&hellip;]","og_url":"https:\/\/transmediavictoria.net.au\/?p=8236","og_site_name":"My Blog","article_published_time":"2022-04-14T09:30:00+00:00","og_image":[{"width":16,"height":16,"url":"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2022\/04\/cbak-energy-reports-fourth-quarter-and-full-year-2021-unaudited-financial-results.png","type":"image\/png"}],"author":"admin_tony","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin_tony","Est. reading time":"15 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/transmediavictoria.net.au\/?p=8236#article","isPartOf":{"@id":"https:\/\/transmediavictoria.net.au\/?p=8236"},"author":{"name":"admin_tony","@id":"https:\/\/transmediavictoria.net.au\/#\/schema\/person\/5b51d407d652c0aa802bea269ea5d7e7"},"headline":"CBAK Energy Reports Fourth Quarter and Full Year 2021 Unaudited Financial Results","datePublished":"2022-04-14T09:30:00+00:00","mainEntityOfPage":{"@id":"https:\/\/transmediavictoria.net.au\/?p=8236"},"wordCount":3038,"image":{"@id":"https:\/\/transmediavictoria.net.au\/?p=8236#primaryimage"},"thumbnailUrl":"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2022\/04\/cbak-energy-reports-fourth-quarter-and-full-year-2021-unaudited-financial-results.png","articleSection":["Business News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/transmediavictoria.net.au\/?p=8236","url":"https:\/\/transmediavictoria.net.au\/?p=8236","name":"CBAK Energy Reports Fourth Quarter and Full Year 2021 Unaudited Financial Results - 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