DALIAN, China, Aug. 16, 2021 /PRNewswire/ -- 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
reported its unaudited financial results for the second quarter and
first half year ended June 30,
2021.
Second Quarter 2021 Financial Highlights
- Net revenues were $5.9
million, an increase of 27% from $4.6
million in the same period of 2020.
- Gross profit was $1.1
million, an increase of 1,148% from $0.1
million in the same period of 2020.
- Gross margin was 18.6%, an increase of 16.7 percentage
points from the same period of 2020.
- Net Income was $2.7
million, compared to net loss of $1.2
million in the same period of 2020.
First Half 2021 Financial Highlights
- Net revenues were $15.3
million, an increase of 33% from $11.5 million in the same period of 2020.
- Gross profit was $2.9
million, an increase of 899% from $0.3 million in the same period of 2020.
- Gross margin was 19.2%, an increase of 16.6 percentage
points from the same period of 2020.
- Net Income was $32.3
million, compared to net loss of $3.6
million in the same period of 2020.
Yunfei Li, Chairman and Chief
Executive Officer of the Company, noted: "We achieved strong second
quarter and first half year financial results. Net revenues grew
27% and 33% year over year respectively, and our gross margin
improved significantly. The overall demand for our high quality,
dependable battery products continued to be strong. To meet rising
customer demand, we invested to expand production capacity in our
Nanjing and Dalian plants. The Phase I project in
Nanjing and the new production
line in Dalian are expected to
commence production in the second half of the year. At the same
time, we also accelerated R&D for new products and solutions,
such as batteries for ultra-low temperature applications and
batteries for uninterruptable power supplies."
Mr. Li continued: "Our strategy is to become an innovative
lithium-ion battery provider in a fast-growing market that is
embracing clean energy. We are actively integrating and
consolidating the supply chain to create a more efficient
ecosystem. Our recent announcement to acquire Zhejiang Meidu
Hitrans Lithium Battery Technology Co. is a critical strategic
move, and we are confident we can deliver rapid growth for our
business."
Xiangyu Pei, Interim Chief Financial Officer of the Company,
noted: "We generated net revenues of $5.9
million in the second quarter and $15.3 million in first half year. Our gross
margins were 18.6% in the second quarter and 19.2% in the first
half year, representing significant improvements year over year
driven by higher capacity utilization. We raised $70 million in February that provides good
liquidity to support our production expansion and investments in
new product launches. Looking ahead, we are on the right path for
accelerated growth."
First Half 2021 Business Highlights & Recent
Developments
- In July, the Company announced it will acquire 81.56% of equity
interests in Zhejiang Meidu Hitrans Lithium Battery Technology Co.,
a leading developer and manufacturer of ternary precursor and
cathode materials in China. This
acquisition aims to integrate a supply chain of critical raw
materials to the Company's portfolio to support future
expansion.
- In February, the Company announced
production capacity expansion at the Nanjing and Dalian plants in anticipation of increasing
customer orders. For the Nanjing
plant Phase I project, the Company plans to invest RMB70 million to develop a production line with
an annual capacity of 0.7 GWh. The plant will start operating in
the second half of 2021 to produce 50,000 model 32140 batteries per
day. For the Dalian plant, the
Company plans to invest RMB50 million
to add another production line with an annual capacity of 0.4 GWh
to produce an additional 100,000 model 26650 batteries per
day.
- In February, the Company completed a direct offering of
$70 million to fund its business
expansion plan, repay outstanding debt, and to fund additional
working capital needs.
- In February, the Company announced that it developed the model
26650 battery for ultra-low temperature applications and
delivered satisfactory test performance results. This new
battery is designed to operate in temperatures as low as minus 40
to minus 50 degrees Celsius and can discharge at a maximum C-rate
of 60C at room temperature.
- In January, the Company announced a cooperation agreement with
Chengdu Raja New Energy Automotive Technology Co., Ltd. to jointly
develop a battery swapping project for the food delivery and
logistics industries as well as an uninterruptible power supply
("UPS") project for traffic lights.
Second Quarter 2021 Financial Results
Net revenues were $5.9
million, an increase of 27% from $4.6
million in the same period of 2020. This was mainly
attributable to the 29% increase in net revenues from sales of
batteries for uninterruptable supplies from the same period of
2020. As we continue to increase our focus on this market, sale of
batteries for uninterruptable power supplies have grown
significantly.
Net Revenues by
End-product Applications
($
thousands)
|
|
2021
Second
Quarter
|
|
2020
Second
Quarter
|
|
%
Change
YoY
|
|
High power lithium
batteries used in:
|
|
|
|
|
|
|
|
Uninterruptable supplies
|
|
$5,812
|
|
$4,503
|
|
29
|
Light electric vehicles
|
|
75
|
|
3
|
|
2,400
|
Electric vehicles
|
|
0
|
|
119
|
|
NM
|
Raw materials used
in lithium batteries
|
|
2
|
|
0
|
|
NM
|
Total
|
|
$5,889
|
|
$4,625
|
|
27
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues was $4.8 million, an increase of 6%
from $4.5 million in the same period
of 2020. This was mainly attributable to the increase in sales
volume.
Gross profit was $1.1
million, an increase of 1148% from $0.1 million in the same period of 2020. Gross
margin was 18.6%, an increase of 16.7 percentage points from the
same period of 2020. The improvement in gross margin was mainly
attributable to the decrease in unit manufacturing cost because of
higher utilization rate and optimization of manufacturing
engineering.
Total operating expenses were $3.8 million, an increase of 283% from
$1.0 million in the same period of
2020. Most of the increase in all expense categories was due to
growing headcount and expiration of the Chinese government's
COVID-19 relief policy, which had reduced social insurance
contributions during the pandemic.
- Research and development expenses were $1.0 million, an increase of 171% from
$0.4 million in the same period of
2020. Design and development expenses relating to light electric
vehicles contributed to the increase.
- Sales and marketing expenses were $0.5 million, an increase of 435% from
$0.1 million in the same period of
2020. Entering the LEV market with our new products resulted in an
increase in sales and marketing expenses.
- General and administrative expenses were
$2.3 million, an increase of 209 %
from $0.8 million in the same period
of 2020. The increase was due to Nasdaq listing expenses and
higher rental expense for plant buildings and staff
dormitories.
- Recovery of doubtful accounts was $0.1 million, compared to $0.2 million in the same period of 2020.
Operating loss was $2.7
million, compared to $0.9
million in the same period of 2020.
Finance (expense) Income, net was income
$52,700, compared to expense
$0.4 million in the same period of
2020, representing an improvement of $0.4
million as a result of lower loan balances in 2021 and
interest income generated from vehicle leasing.
Change in fair value of warrants was $5.8 million, compared to nil in the same period
of 2020. The change in fair value of the warrants liability is
mainly due to the share price decline.
Net Income was $2.7
million, compared to net loss of $1.2
million in the same period of 2020.
Basic and diluted earnings per share were both
$0.02. In comparison, basic and
diluted loss per share in the same period of 2020 were both
$0.02.
Cash and cash equivalents were $33.3 million as of June
30, 2021, compared to $11.7
million as of Dec 31,
2020.
First Half 2021 Financial Results
Net revenues were $15.3
million, an increase of 33% from $11.5 million in the same period of 2020. This
was mainly attributable to the 30% increase in net revenues from
sales of batteries for uninterruptable supplies from the same
period of 2020. As we continue to increase our focus on this
market, sale of batteries for uninterruptable power supplies have
grown significantly.
Net Revenues
by End-product Applications
($
thousands)
|
|
2021
First
Half
|
|
2020
First
Half
|
|
%
Change
YoY
|
High power lithium
batteries used in:
|
|
|
|
|
|
|
Uninterruptable
supplies
|
|
$14,576
|
|
$11,189
|
|
30
|
Light electric
vehicles
|
|
109
|
|
3
|
|
3,533
|
Electric
vehicles
|
|
101
|
|
334
|
|
(70)
|
Raw materials used
in lithium batteries
|
|
519
|
|
0
|
|
-
|
Total
|
|
$15,305
|
|
$11,526
|
|
33
|
Cost of revenues was $12.4 million, an increase of
10% from $11.2 million in the same
period of 2020. This was mainly attributable to the increase in
sales volume.
Gross profit was $2.9
million, an increase of 899% from $0.3 million in the same period of 2020. Gross
margin was 19.2%, an increase of 16.6 percentage points from the
same period of 2020. The improvement in gross margin was mainly
attributable to the decrease in unit manufacturing cost as a result
of higher utilization rates and optimization of manufacturing
engineering.
Total operating expenses were $5.7 million, an increase of 79% from
$3.2 million in the same period of
2020. Most of the increase in all expense categories was due to
growing headcount and expiration of the Chinese government's
COVID-19 relief policy, which had reduced social insurance
contributions during the pandemic.
- Research and development expenses were $1.5 million, an increase of 124% from
$0.7 million in the same period of
2020. Design and development expenses relating to light
electric vehicles contributed to the increase.
- Sales and marketing expenses were $0.8 million, an increase of 288% from
$0.2 million in the same period of
2020. Entering the LEV market with our new products resulted
in an increase in sales and marketing expenses.
- General and administrative expenses were
$3.7 million, an increase of 96% from
$1.9 million in the same period of
2020. The increase was due to Nasdaq listing expenses and
higher rental expense for plant buildings and staff
dormitories.
- Recovery of doubtful accounts was $0.3 million, compared to a provision for
doubtful accounts of $0.4 million in
the same period of 2020.
Operating loss was $2.8
million, compared to $2.9
million in the same period of 2020.
Finance (expense) income net was income $45,102, compared to expense $0.8 million in the same period of 2020.
representing an improvement of $0.9
million as a result of lower loan balances in 2021 and
interest income generated from vehicle leasing
Change in fair value of warrants was $34.2 million, compared to nil in the same period
of 2020. The change in fair value of warrant liability is mainly
due to the share price decline.
Net Income were $32.3
million, compared to net loss of $3.6
million in the same period of 2020.
Basic and diluted earnings per share were both
$0.37. In comparison, basic and
diluted loss per share in the same period of 2020 were both
$0.06.
Conference Call
CBAK's management will host an earnings conference call at
8:00 AM U.S. Eastern Time
on Monday, August 16, 2021 (8:00 PM Beijing/Hong Kong
Time on August 16, 2021).
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.
Participant Online Registration:
http://apac.directeventreg.com/registration/event/5182755
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.
Additionally, a live and archived webcast of the conference call
will be available at:
https://edge.media-server.com/mmc/p/qate93zd
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 August 24,
2021. To access the replay, please reference the conference
ID 5182755.
International
|
+61-2-8199-0299
|
United
States
|
+1-855-452-5696
|
Hong Kong,
China
|
+852-800-963-117
|
Mainland,
China
|
+86-800-870-0206
|
|
+86-400-632-2162
|
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 batteries. The applications of the Company's products and
solutions include electric vehicles, light electric vehicles,
electric tools, energy storage, uninterruptible power supply (UPS),
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 multiple operating subsidiaries
in Dalian and Nanjing, as well as a large-scale
R&D and production base in Dalian.
For more information, please visit www.cbak.com.cn.
Safe Harbor Statement
This press release contains forward-looking statements, which
are subject to change. The forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All "forward-looking statements"
relating to the business of CBAK Energy Technology, Inc. and its
subsidiary companies, which can be identified by the use of
forward-looking terminology such as "believes", "expects" or
similar expressions, involve known and unknown risks and
uncertainties which could cause actual results to differ
materially. These factors include but are not limited to: the
ability of the Company to meet its contract or agreement
obligations; the uncertain market for the Company's lithium battery
cells; business, macroeconomic, technological, regulatory, or other
factors affecting the profitability of battery cells designed for
energy storage; and risks related to CBAK Energy's business and
risks related to operating in China. Please refer to CBAK
Energy's most recent Annual
Report on Form 10-K, as well as
other SEC reports that have been filed since the date of such
annual report, for specific details on risk factors. Given these
risks and uncertainties, you are cautioned not to place undue
reliance on forward-looking statements. CBAK Energy's actual
results could differ materially from those contained in the
forward-looking statements. CBAK Energy undertakes no obligation to
revise or update its forward-looking statements in order to reflect
events or circumstances that may arise after the date of this
release unless expressly requested by applicable law.
For investor and media inquiries, please contact:
In China:
CBAK Energy Technology, Inc.
Investor Relations Department
Phone: 86-411-39185985
Email: ir@cbak.com.cn
The Blueshirt Group
Ms. Feifei Shen
Phone: +86 13466566136
Email: feifei@blueshirtgroup.com
In the United States:
The Blueshirt Group
Ms. Julia Qian
Phone: +1 973-619-3227
Email: Julia@blueshirtgroup.com
The Blueshirt Group
Ms. Marlene Pan
Phone: +1 917-863-6818
Email: marlene@blueshirtgroup.com
CBAK Energy
Technology, Inc. and Subsidiaries Unaudited Condensed
Consolidated Balance Sheets (In $ except for number of
shares)
|
|
|
|
|
December 31,
|
|
|
June
30,
|
|
|
|
|
2020
|
|
|
2021
|
|
|
|
|
|
|
|
(Unaudited)
|
|
Assets
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
$
|
11,681,750
|
|
|
$
|
33,299,230
|
|
Pledged
deposits
|
|
|
|
8,989,748
|
|
|
|
19,070,676
|
|
Trade accounts and
bills receivable, net
|
|
|
|
29,571,274
|
|
|
|
22,186,035
|
|
Inventories
|
|
|
|
5,252,845
|
|
|
|
9,697,450
|
|
Prepayments and other
receivables
|
|
|
|
7,439,544
|
|
|
|
8,404,443
|
|
Investment in
sales-type lease, net
|
|
|
|
235,245
|
|
|
|
749,703
|
|
|
|
|
|
|
|
|
|
|
|
Total current
assets
|
|
|
|
63,170,406
|
|
|
|
93,407,537
|
|
|
|
|
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
|
|
41,040,370
|
|
|
|
40,285,018
|
|
Construction in
progress
|
|
|
|
30,193,309
|
|
|
|
43,892,784
|
|
Non-marketable equity
securities
|
|
|
|
-
|
|
|
|
701,743
|
|
Deposit paid for
acquisition of a subsidiary
|
|
|
|
-
|
|
|
|
3,096,646
|
|
Right-of-use
assets
|
|
|
|
7,500,780
|
|
|
|
7,495,092
|
|
Operating lease
right-of-use assets, net
|
|
|
|
-
|
|
|
|
2,154,035
|
|
Intangible assets,
net
|
|
|
|
11,807
|
|
|
|
10,558
|
|
Investment in
sales-type lease, net
|
|
|
|
850,407
|
|
|
|
1,130,389
|
|
Total
assets
|
|
|
$
|
142,767,079
|
|
|
$
|
192,173,802
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
|
Trade accounts and
bills payable
|
|
|
$
|
28,352,292
|
|
|
$
|
24,250,568
|
|
Current maturities of
long-term bank loans
|
|
|
|
13,739,546
|
|
|
|
-
|
|
Other short-term
loans
|
|
|
|
1,253,869
|
|
|
|
830,237
|
|
Accrued expenses and
other payables
|
|
|
|
11,645,459
|
|
|
|
12,407,180
|
|
Payables to former
subsidiaries, net
|
|
|
|
626,990
|
|
|
|
362,549
|
|
Deferred government
grants, current
|
|
|
|
151,476
|
|
|
|
153,118
|
|
Product warranty
provisions
|
|
|
|
155,888
|
|
|
|
124,075
|
|
Operating lease
liability, current
|
|
|
|
-
|
|
|
|
1,180,631
|
|
Warrants
liability
|
|
|
|
17,783,000
|
|
|
|
33,472,000
|
|
|
|
|
|
|
|
|
|
|
|
Total current
liabilities
|
|
|
|
73,708,520
|
|
|
|
72,780,360
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred government
grants, non-current
|
|
|
|
7,304,832
|
|
|
|
7,307,444
|
|
Operating lease
liability
|
|
|
|
-
|
|
|
|
787,562
|
|
Product warranty
provision
|
|
|
|
1,835,717
|
|
|
|
1,867,312
|
|
Long term tax
payable
|
|
|
|
7,511,182
|
|
|
|
7,592,590
|
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
|
|
$
|
90,360,251
|
|
|
$
|
90,335,266
|
|
|
|
|
|
|
|
|
|
|
|
Commitments and
contingencies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
equity (deficit)
|
|
|
|
|
|
|
|
|
|
Common stock $0.001
par value; 500,000,000 authorized; 79,310,249
issued and 79,166,043 outstanding as of December 31, 2020,
88,538,723 issued and 88,394,517 outstanding as of June 30,
2021
|
|
|
|
79,310
|
|
|
|
88,538
|
|
Donated
shares
|
|
|
|
14,101,689
|
|
|
|
14,101,689
|
|
Additional paid-in
capital
|
|
|
|
225,278,113
|
|
|
|
241,141,468
|
|
Statutory
reserves
|
|
|
|
1,230,511
|
|
|
|
1,230,511
|
|
Accumulated
deficit
|
|
|
|
(183,984,311)
|
|
|
|
(151,674,428)
|
|
Accumulated other
comprehensive (loss) income
|
|
|
|
(239,609)
|
|
|
|
997,013
|
|
|
|
|
|
56,465,703
|
|
|
|
105,884,791
|
|
Less: Treasury
shares
|
|
|
|
(4,066,610)
|
|
|
|
(4,066,610)
|
|
|
|
|
|
|
|
|
|
|
|
Total shareholders'
equities
|
|
|
|
52,399,093
|
|
|
|
101,818,181
|
|
Non-controlling
interests
|
|
|
|
7,735
|
|
|
|
20,355
|
|
Total
equity
|
|
|
|
52,406,828
|
|
|
|
101,838,536
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
shareholder's equity
|
|
|
$
|
142,767,079
|
|
|
$
|
192,173,802
|
|
CBAK Energy
Technology, Inc. and Subsidiaries Unaudited Condensed
Consolidated Statements of Operations and Comprehensive Income
(Loss) (In $ except for number of shares)
|
|
|
|
|
Three months ended
June 30,
|
|
|
Six months ended
June 30,
|
|
|
|
|
2020
|
|
|
2021
|
|
|
2020
|
|
|
2021
|
|
Net
revenues
|
|
|
$
|
4,624,247
|
|
|
$
|
5,889,154
|
|
|
$
|
11,525,521
|
|
|
$
|
15,305,203
|
|
Cost of
revenues
|
|
|
|
(4,536,637)
|
|
|
|
(4,791,503)
|
|
|
|
(11,231,908)
|
|
|
|
(12,368,123)
|
|
Gross
profit
|
|
|
|
87,610
|
|
|
|
1,097,651
|
|
|
|
293,613
|
|
|
|
2,937,080
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development expenses
|
|
|
|
(385,224)
|
|
|
|
(1,045,312)
|
|
|
|
(684,154)
|
|
|
|
(1,529,061)
|
|
Sales and marketing
expenses
|
|
|
|
(100,707)
|
|
|
|
(539,471)
|
|
|
|
(194,478)
|
|
|
|
(752,613)
|
|
General and
administrative expenses
|
|
|
|
(756,946)
|
|
|
|
(2,340,896)
|
|
|
|
(1,872,564)
|
|
|
|
(3,665,377)
|
|
(Provision for)
recovery of doubtful accounts
|
|
|
|
245,484
|
|
|
|
104,517
|
|
|
|
(427,702)
|
|
|
|
258,578
|
|
Total operating
expenses
|
|
|
|
(997,393)
|
|
|
|
(3,821,162)
|
|
|
|
(3,178,898)
|
|
|
|
(5,688,473)
|
|
Operating
loss
|
|
|
|
(909,783)
|
|
|
|
(2,723,511)
|
|
|
|
(2,885,285)
|
|
|
|
(2,751,393)
|
|
Finance income
(expenses), net
|
|
|
|
(385,208)
|
|
|
|
52,700
|
|
|
|
(813,291)
|
|
|
|
45,102
|
|
Other income,
net
|
|
|
|
96,825
|
|
|
|
331,576
|
|
|
|
146,298
|
|
|
|
1,549,224
|
|
Impairment of
Non-marketable equity securities
|
|
|
|
|
|
|
|
(690,542)
|
|
|
|
|
|
|
|
(690,542)
|
|
Change in fair value
of warrants
|
|
|
|
|
|
|
|
5,750,000
|
|
|
|
|
|
|
|
34,176,000
|
|
(Loss) income before
income tax
|
|
|
|
(1,198,167)
|
|
|
|
2,720,223
|
|
|
|
(3,552,278)
|
|
|
|
32,328,391
|
|
Income tax credit
(expenses)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
Net (loss)
income
|
|
|
|
(1,198,167)
|
|
|
|
2,720,223
|
|
|
|
(3,552,278)
|
|
|
$
|
32,328,391
|
|
Less: Net loss
(income) attributable to non-controlling interest
|
|
|
|
952
|
|
|
|
(19,622)
|
|
|
|
(4,918)
|
|
|
|
(18,508)
|
|
Net (loss) income
attributable to CBAK Energy Technology, Inc.
|
|
|
$
|
(1,197,215)
|
|
|
$
|
2,700,601
|
|
|
$
|
(3,557,196)
|
|
|
$
|
32,309,883
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)
income
|
|
|
|
(1,198,167)
|
|
|
|
2,720,223
|
|
|
|
(3,552,278)
|
|
|
|
32,328,391
|
|
Other comprehensive
income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– Foreign currency
translation adjustment
|
|
|
|
29,876
|
|
|
|
1,141,596
|
|
|
|
(272,169)
|
|
|
|
1,230,734
|
|
Comprehensive (loss)
income
|
|
|
|
(1,168,291)
|
|
|
|
3,861,819
|
|
|
|
(3,824,447)
|
|
|
|
33,559,125
|
|
Less: Comprehensive
loss (income) attributable to non-
controlling interest
|
|
|
|
945
|
|
|
|
(18,637)
|
|
|
|
(4,095)
|
|
|
|
(12,620)
|
|
Comprehensive (loss)
income attributable to CBAK Energy
Technology, Inc.
|
|
|
$
|
(1,167,346)
|
|
|
$
|
3,843,182
|
|
|
$
|
(3,828,542)
|
|
|
$
|
33,546,505
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) Income
per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– Basic
|
|
|
$
|
(0.02)
|
|
|
$
|
0.02
|
|
|
$
|
(0.06)
|
|
|
$
|
0.37
|
|
– Diluted
|
|
|
$
|
(0.02)
|
|
|
$
|
0.02
|
|
|
$
|
(0.06)
|
|
|
$
|
0.37
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares of common stock:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– Basic
|
|
|
|
60,430,255
|
|
|
|
88,411,583
|
|
|
|
56,877,900
|
|
|
|
86,347,656
|
|
– Diluted
|
|
|
|
60,430,255
|
|
|
|
88,993,839
|
|
|
|
56,877,900
|
|
|
|
86,938,886
|
|
View original
content:https://www.prnewswire.com/news-releases/cbak-energy-reports-second-quarter-and-first-half-2021-unaudited-financial-results-301355622.html
SOURCE CBAK Energy Technology, Inc.