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CBAT

CBAK Energy Technology, Inc.

CBAT

CBAK Energy Technology, Inc. • NASDAQ
$0.91 ▲ 1.10% (+0.01)
Market Cap $81.50 M
52w High $1.28
52w Low $0.57
Dividend Yield 0%
P/E -13
Volume 34.26K
Outstanding Shares 89.57M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $60.924M ▲ $8.909M ▲ $2.651M ▲ 4.351% ▲ $0.03 ▲ $4.681M ▲
Q2-2025 $40.524M ▲ $7.991M ▲ $-3.073M ▼ -7.583% ▼ $-0.034 ▼ $-847.379K ▼
Q1-2025 $34.939M ▲ $7.666M ▼ $-1.579M ▲ -4.52% ▲ $-0.018 ▲ $-505.831K ▲
Q4-2024 $25.371M ▼ $9.906M ▲ $-4.51M ▼ -17.774% ▼ $-0.05 ▼ $-3.412M ▼
Q3-2024 $44.628M $7.782M $17.647K 0.04% $0 $1.931M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $10.476M ▼ $363.863M ▲ $245.407M ▲ $121.409M ▲
Q2-2025 $45.822M ▲ $333.094M ▲ $217.25M ▲ $118.211M ▼
Q1-2025 $9.582M ▼ $311.465M ▲ $192.722M ▲ $120.792M ▼
Q4-2024 $10.961M ▼ $302.218M ▲ $182.151M ▲ $121.673M ▼
Q3-2024 $24.237M $293.477M $163.094M $131.166M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.651M ▲ $14.599M ▲ $-8.44M ▲ $34.777M ▲ $41.896M ▲ $6.003M ▲
Q2-2025 $-3.073M ▼ $13.768M ▲ $-10.711M ▼ $-30.5M ▼ $-26.082M ▼ $4.139M ▲
Q1-2025 $-2.051M ▲ $-9.621M ▼ $-9.903M ▼ $5.926M ▼ $-13.251M ▼ $-22.311M ▼
Q4-2024 $-5.325M ▼ $9.626M ▼ $-3.32M ▼ $9.776M ▼ $12.922M ▼ $3.921M ▼
Q3-2024 $-685.539K $19.689M $-3.16M $10.109M $27.737M $16.547M

Revenue by Products

Product Q3-2021Q4-2021Q1-2022Q2-2022
CathodeMember
CathodeMember
 $0 ▲$0 ▲$30.00M ▲$30.00M ▲
ElectricVehiclesMember
ElectricVehiclesMember
 $0 ▲$0 ▲$0 ▲$0 ▲
LightElectricVehiclesMember
LightElectricVehiclesMember
 $0 ▲$0 ▲$0 ▲$0 ▲
PrecursorMember
PrecursorMember
 $0 ▲$0 ▲$40.00M ▲$0 ▼
TotalHighPowerLithiumBatteriesUsedMember
TotalHighPowerLithiumBatteriesUsedMember
 $0 ▲$0 ▲$20.00M ▲$30.00M ▲
UninterruptableSuppliesMember
UninterruptableSuppliesMember
 $10.00M ▲$10.00M ▲$10.00M ▲$30.00M ▲
OthersMember
OthersMember
 $10.00M ▲$0 ▼$0 ▲$0 ▲
RawMaterialsUsedInLithiumBatteriesMember
RawMaterialsUsedInLithiumBatteriesMember
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown meaningfully from a very small base, but it is still modest and somewhat uneven year to year. Profitability has been volatile, swinging between losses and small profits, reflecting a business that is still transitioning from development and scale‑up toward more consistent earnings. Recent years show improving gross margins and a small operating and net profit, which suggests better cost control and a gradual move toward a more sustainable business model, but the track record is short and still fragile.

Balance Sheet

Balance Sheet The balance sheet has strengthened over the past few years, with total assets and shareholders’ equity both trending upward. Debt has increased but remains at a manageable level relative to the size of the company, indicating some financial leverage but not an extreme one. Cash levels are modest, which means the company does not appear to have a large liquidity cushion and likely needs to carefully balance growth investments with financial risk. Overall, it looks more solid than a few years ago, but not yet robust.

Cash Flow

Cash Flow Operating cash flow has moved from weak to consistently positive, a healthy sign that the core business is starting to fund itself rather than relying purely on external capital. Free cash flow has turned positive as well, even while the company continues to spend on new equipment and capacity. This pattern indicates better cash discipline and early signs of a self‑financing growth model, though the absolute cash generation is still limited and could come under pressure if investment ramps up faster than earnings.

Competitive Edge

Competitive Edge CBAK operates in a highly competitive global battery market but has carved out a niche in large cylindrical cells for mobility and energy storage. Its focus on specific cell formats, vertical integration through its materials subsidiary, and ability to customize solutions for clients give it some differentiation against more generic producers. Partnerships with recognizable international customers suggest technology and quality are competitive. However, the company still competes with much larger, better‑capitalized players, so its moat is meaningful in its niche but not broad across the entire battery industry.

Innovation and R&D

Innovation and R&D The company is clearly innovation‑driven, with a sizable patent base and several notable advances in cell design, low‑temperature performance, and fast charging. Its shift toward larger, higher‑density cylindrical cells and early work in sodium‑ion batteries position it to participate in next‑generation storage trends. Ongoing development of new formats and production lines shows strong R&D ambition, but it also raises execution risk: CBAK must prove it can ramp these technologies to mass production reliably and profitably, not just demonstrate them in the lab.

Summary

CBAK is a small but increasingly focused battery manufacturer that combines improving, though still uneven, financial performance with a clear technological and product strategy. The business has moved closer to consistent profitability, strengthened its balance sheet, and generated positive cash flow, yet its financial cushion remains thin and results remain volatile. Strategically, it benefits from specialization in large cylindrical cells, vertical integration, and active innovation in both lithium‑ion and sodium‑ion technologies. The main opportunities lie in scaling its new products and winning more long‑term orders, while key risks center on intense industry competition, execution on capacity expansions, and maintaining financial resilience during its growth push.

NEWS

November 10, 2025 · 6:00 AM UTC

CBAK Energy Reports Third Quarter and First Nine Months of 2025 Unaudited Financial Results

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November 3, 2025 · 8:00 AM UTC

CBAK Energy to Report Third Quarter 2025 Unaudited Financial Results on Monday, November 10, 2025

Read more