CBAK Energy's Q4 Revenue Jumps With Battery Business Leading The Charge: Details
CBAK Energy's Q4 Revenue Jumps With Battery Business Leading The Charge: Details
CBAK Energy Technology Inc (NASDAQ:CBAT) reported a fourth-quarter FY23 revenue increase of 3.2% Y/Y to $56.2 million.
Revenues benefitted from the battery business, partially offset by a decrease in sales from Hitrans, which was affected by the slowdown in the raw materials market.
Battery business revenues rose 30.9% Y/Y to $36.8 million, owing to an increase of 84.3% Y/Y from revenues from residential energy supply & uninterruptible supplies.
However, net revenues from batteries used in light electric vehicles declined 69.5% Y/Y.
Gross profit increased significantly to $12.7 million from $3.8 million a year ago. The gross margin stood at 22.6%, vs. 7.0% a year ago.
Net loss attributable to shareholders of CBAK Energy,(after deducting the change in fair value of warrants, was $(4.8) million, compared to a net loss of $(11.7) million in the same period of 2022, mainly due to the weaker performance of Hitrans.
As of December 31, 2023, cash and cash equivalents stood at $4.6 million.
Jiewei Li, CFO and Secretary of the Board, said, "As of December 31, 2023, our Dalian and Nanjing lithium production facilities had no outstanding secured bank loans. We believe that our solid fundamentals will continue to serve as a strong foundation for our business. Looking ahead to 2024, we are confident in our growth trajectory and project another year of net income for our battery business. We will share detailed net income guidance at an appropriate time."
Price Action: CBAT shares are trading lower by 1.74% at $1.15 on the last check Friday.
Photo via Shutterstock
CBAK Energy Technology Inc (NASDAQ:CBAT) reported a fourth-quarter FY23 revenue increase of 3.2% Y/Y to $56.2 million.
CBAK能源科技公司（納斯達克股票代碼：CBAT）報告稱，23財年第四季度收入同比增長3.2％，至5,620萬美元。
Revenues benefitted from the battery business, partially offset by a decrease in sales from Hitrans, which was affected by the slowdown in the raw materials market.
收入受益於電池業務，但部分被受原材料市場放緩影響的Hitrans銷售下降所抵消。
Battery business revenues rose 30.9% Y/Y to $36.8 million, owing to an increase of 84.3% Y/Y from revenues from residential energy supply & uninterruptible supplies.
電池業務收入同比增長30.9％，至3,680萬美元，這要歸因於住宅能源供應和不間斷供應收入同比增長84.3％。
However, net revenues from batteries used in light electric vehicles declined 69.5% Y/Y.
但是，用於輕型電動汽車的電池的淨收入同比下降了69.5％。
Gross profit increased significantly to $12.7 million from $3.8 million a year ago. The gross margin stood at 22.6%, vs. 7.0% a year ago.
毛利從去年同期的380萬美元大幅增長至1,270萬美元。毛利率爲22.6％，而去年同期爲7.0％。
Net loss attributable to shareholders of CBAK Energy,(after deducting the change in fair value of warrants, was $(4.8) million, compared to a net loss of $(11.7) million in the same period of 2022, mainly due to the weaker performance of Hitrans.
歸屬於CBAK Energy股東的淨虧損（扣除認股權證公允價值變動後）爲480萬美元，而2022年同期的淨虧損爲1170萬美元，這主要是由於Hitrans的表現疲軟。
As of December 31, 2023, cash and cash equivalents stood at $4.6 million.
截至2023年12月31日，現金及現金等價物爲460萬美元。
Jiewei Li, CFO and Secretary of the Board, said, "As of December 31, 2023, our Dalian and Nanjing lithium production facilities had no outstanding secured bank loans. We believe that our solid fundamentals will continue to serve as a strong foundation for our business. Looking ahead to 2024, we are confident in our growth trajectory and project another year of net income for our battery business. We will share detailed net income guidance at an appropriate time."
首席財務官兼董事會秘書李傑偉表示：“截至2023年12月31日，我們的大連和南京鋰生產設施沒有未償還的有擔保銀行貸款。我們相信，我們堅實的基礎將繼續爲我們的業務奠定堅實的基礎。展望2024年，我們對自己的增長軌跡充滿信心，並預計我們的電池業務將再有一年的淨收入。我們將在適當的時候分享詳細的淨收入指導。”
Price Action: CBAT shares are trading lower by 1.74% at $1.15 on the last check Friday.
價格走勢：在週五的最後一次支票中，CBAT股價下跌1.74％，至1.15美元。
Photo via Shutterstock
照片來自 Shutterstock
譯文內容由第三人軟體翻譯。
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