CBAK Energy Completes Redomiciliation to the Cayman Islands
CBAK Energy (NASDAQ: CBAT) has completed its redomiciliation from Nevada to the Cayman Islands via a merger effective June 23, 2026.
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Rhea-AI Summary
CBAK Energy (NASDAQ: CBAT) has completed its redomiciliation from Nevada to the Cayman Islands via a merger effective June 23, 2026. Each common share converted into one ordinary share of CBAK Energy Technology Limited, now the successor issuer, with Nasdaq listing and ticker CBAT unchanged.
The move leaves business operations, management, assets and liabilities unchanged while aiming to lower ongoing costs, simplify corporate administration, streamline governance and provide more flexibility for future corporate transactions.
Positive
- One-for-one conversion of common shares into Cayman ordinary shares
- Nasdaq Capital Market listing and ticker symbol CBAT remain unchanged
- Business operations, management, assets and liabilities remain the same
- Equity incentive plans and awards continue on substantially same terms
- Company aims to reduce ongoing operational, legal and accounting costs
- Cayman structure expected to streamline governance and future transactions
Negative
- Redomiciliation introduces a new Cayman legal jurisdiction for shareholders
- Company notes only an expectation, not quantified cost savings or timing
Details
News Market Reaction – CBAT
On Jun 24, the first trading day after this news, CBAT closed 10.26% above the previous close.
Data tracked by StockTitan Argus for the Jun 24 session.
Key Figures
- Redomicile effective time
- 8:00 a.m. Pacific Daylight Time
- Effective time of redomicile merger on June 23, 2026
- Share conversion ratio
- 1 ordinary share for 1 common share
- Each Nevada share converted into one Cayman ordinary share
- Rule reference
- Rule 12g-3
- CBAK Cayman as successor issuer under Securities Exchange Act
- Act reference year
- 1934
- Securities Exchange Act of 1934 cited for successor issuer status
Historical Context
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Showcased cylindrical battery portfolio targeting Europe’s growing energy storage markets.
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Q1 2026 showed rapid revenue growth but sharply weaker margins and larger net loss.
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Announced Sidoti Micro-Cap conference presentation and availability for investor meetings.
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Planned participation at China International Battery Fair to showcase products and prototypes.
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Reported strong rankings and volumes in key cylindrical cell segments for 2025.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
rule 12g-3 regulatory
nasdaq capital market financial
equity incentive plans financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Company’s Nasdaq listing and ticker symbol “CBAT” remain unchanged
DALIAN, China, June 23, 2026 (GLOBE NEWSWIRE) -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy” or the “Company”), a leading lithium-ion battery manufacturer and electric energy solution provider in China, today announced that it has completed its previously announced merger to redomicile from Nevada to the Cayman Islands (the “Redomicile Merger”). The Redomicile Merger became effective at 8:00 a.m. Pacific Daylight Time on June 23, 2026.
Pursuant to the Redomicile Merger, each outstanding share of the common stock of the Company was converted into the right to receive one ordinary share of CBAK Energy Technology Limited, a company incorporated under the laws of the Cayman Islands (“CBAK Cayman”) and the successor issuer of the Company pursuant to Rule 12g-3 under the Securities Exchange Act of 1934, as amended. The ordinary shares of CBAK Cayman will be listed on the Nasdaq Capital Market under the trading symbol “CBAT,” the same symbol under which the common stock of the Company was listed.
The Redomicile Merger did not change the Company’s business, day-to-day operations, strategy, operating subsidiaries, management team, employees, production facilities, customer and supplier relationships, or consolidated assets and liabilities. CBAK Cayman also assumed the Company’s existing equity incentive plans and outstanding awards, which continue on substantially the same terms and now relate to ordinary shares of CBAK Cayman. The Company undertook the Redomicile Merger to reduce certain ongoing operational, administrative, legal and accounting costs, simplify corporate administration, and align the legal structure of its parent company more closely with the international nature of its business. The Company also expects the Cayman structure to streamline governance procedures and provide greater flexibility for future corporate transactions.
“Moving our place of incorporation to the Cayman Islands brings the legal structure of the parent company closer to the international profile of our business,” said Zhiguang Hu, Chief Executive Officer of CBAK Energy. “The change is intended to reduce certain recurring public-company costs and simplify corporate administration. It does not alter our operations, management team or business plans.”
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high-power lithium-ion and sodium-ion batteries, as well as the production of raw materials used in the manufacture of high-power lithium batteries. The Company’s products and solutions are used in electric vehicles, light electric vehicles, energy storage systems, and other high-power applications.
In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has operating subsidiaries in Dalian, Nanjing, Shaoxing, and Shangqiu, as well as a large-scale research, development, and production base in Dalian.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements regarding the expected benefits of the Redomicile Merger, including the listing of CBAK Cayman’s ordinary shares on The Nasdaq Stock Market, anticipated cost savings, administrative efficiencies, streamlined governance procedures and potential benefits for future corporate transactions, are forward-looking statements.
These statements are based on the Company’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include the Company’s ability to realize the anticipated benefits of the Redomicile Merger, changes in applicable laws and regulations, additional administrative or compliance requirements, and other risks described in the Company’s filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.
Contacts
Global Media Relations
Email: marketing@cbak.com.cn
LinkedIn: https://www.linkedin.com/company/cbakenergy
X: https://x.com/CBAKEnergy
Stocktwits: https://stocktwits.com/CBAK_Official
Investor Relations
Email: ir@cbak.com.cn
Website: https://ir.cbak.com.cn/
FAQ
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