CBAK Energy Technology, Inc. | Understand Stock

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2026 10-Q, filed May 18, 2026. Its latest SEC filing is a 15-12G from Jun 29, 2026.

The sections below describe the company as of the FY2025 annual report.

What Did They Do?

Manufactures high-power lithium and sodium batteries and battery packs for electric-vehicle and energy-storage uses, plus cathode materials for battery makers.

How Did They Make Money?

Customers pay for battery cells, packs and materials when the products are delivered.

revenue

Segment	Share	How money arrives
Electric vehicles Sold outright	0.4% FY2022: 1.9%	Sold outright
Light electric vehicles Sold outright	19% FY2022: 2.6%	Sold outright
Residential energy supply & uninterruptable supplies Sold outright	35% FY2022: 34%	Sold outright
High power lithium batteries Sold outright	54% FY2022: 38%	Sold outright
Cathode Sold outright	42% FY2022: 30%	Sold outright
Precursor Sold outright	3.4% FY2022: 32%	Sold outright
Materials used in Manufacturing of Lithium Batteries Sold outright	46% FY2022: 62%	Sold outright

Who Were Their Customers?

Battery customers include vehicle and energy-storage businesses; sales teams cover China and are building overseas distribution channels. Hitrans targets companies in China's NCM lithium industry, while battery packs are assembled for African light-electric-vehicle swapping networks and sold directly to end-users.

Did Revenues Turn Into Profits?

Not on paper. It lost $9.4M in FY2025, but brought in more cash than it spent: $3.9M of free cash flow.

Operating income, FY2025

−9% of revenue

▼ Now a loss vs FY2024 ($8.8M, 5%)

Net income, FY2025

−5% of revenue

▼ Now a loss vs FY2024 ($11.8M, 7%)

Free cash flow, FY2025

2% of revenue

▼ −83% vs FY2024 ($22.5M, 13%)

How Were They Changing?

Since the FY2025 annual report

Latest quarter: Q1 FY2026, the three months to Mar 31, 2026

Revenue: ▲ +99%; vs $34.9M in Q1 FY2025
Net income: ▲ +488% (Loss); vs −$1.6M in Q1 FY2025

High power lithium batteries share of revenue vs 58.3% in Q1 FY2025

Jun 23, 2026 Company completed its redomicile merger into a Cayman Islands subsidiary Each common share converted into one ordinary share; CBAT remained the trading symbol.
May 1, 2026 Nasdaq notified the company of a minimum bid-price deficiency Trading continued under CBAT; the company had through October 27, 2026 to regain compliance.

Grew. Revenue grew 3.7x in 4 years, from $52.7M in FY2021 to $195.2M in FY2025, about 39% a year.

Broader battery products The older report describes high-power lithium batteries and lithium cell models; the latest adds sodium-ion cells and battery packs, including systems assembled to reach end-users directly in African light-electric-vehicle swapping networks.

Revenue over time

Electric vehicles Light electric vehicles Residential energy supply & uninterruptable supplies High power lithium batteries Cathode Precursor Materials used in Manufacturing of Lithium Batteries Trading of raw materials used in lithium batteries

$250M$125M$0

FY2022 FY2023 FY2024 FY2025

Who Did They Compete With?

Competes with Shandong Goldencell, EVPS, Power Long Battery, Gotion Hi-tech, EVE Battery, Great Power, Do-Fluoride, Greenway, Ampace, Beijing Easpring, Ronbay Technology, and Huayou Cobalt