CBAK Energy Secures Nearly USD7 Million Order From Renowned European Client
CBAK Energy Technology announced that its subsidiary, Dalian CBAK Power Battery, has secured a significant order worth nearly USD 7 million from a prominent European client.
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Rhea-AI Summary
CBAK Energy Technology announced that its subsidiary, Dalian CBAK Power Battery, has secured a significant order worth nearly USD 7 million from a prominent European client. The European client has a history of sourcing cylindrical batteries from CBAK Energy, with previous orders totaling close to USD 55 million. CEO Yunfei Li expressed satisfaction with the continued recognition of their battery products and emphasized the company's commitment to innovation and quality to strengthen their market position.
Positive
- CBAK Energy secured a nearly USD 7 million order from a European client.
- The European client has previously sourced USD 55 million worth of batteries from CBAK Energy.
- The order reflects continued trust from a long-term partner.
- CEO Yunfei Li highlighted the company's focus on high-quality and high-performance battery innovation.
- This order may bolster CBAK Energy’s market share and leadership position.
Negative
- No specific new product or technology advancements were mentioned in the announcement.
- The press release did not specify the duration or frequency of the new order.
Details
News Market Reaction – CBAT
The recorded move for CBAT in the trading session of this news was +5.77%.
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Founded in
Yunfei Li, Chairman and Chief Executive Officer of CBAK Energy, commented, "We are pleased to receive another significant-sized order from our long-term partner, demonstrating the recognition of our battery products by one of our industry-pioneering customers renowned for their manufacturing excellence. We are committed to innovating and delivering high-quality and high-performance batteries to capture more market share and consolidate our leadership position."
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in
For more information, please visit ir.cbak.com.cn.
Safe Harbor Statement
This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding the Company's future results of operations and financial position, strategy, plans, and 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. The Company has attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Actual results of the Company may differ materially or perhaps significantly from those discussed herein, 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.
For further inquiries, please contact:
In
CBAK Energy Technology, Inc.
Investor Relations Department
Phone: +86-18675423231
Email: ir@cbak.com.cn
Piacente Financial Communications
Ms. Hui Fan
Tel: +86-10-6508-0677
Email: CBAK@thepiacentegroup.com
In
Piacente Financial Communications
Ms. Brandi Piacente
Tel: +1-212-481-2050
Email: CBAK@thepiacentegroup.com
View original content:https://www.prnewswire.com/news-releases/cbak-energy-secures-nearly-usd7-million-order-from-renowned-european-client-302172740.html
SOURCE CBAK Energy Technology, Inc.
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