Additional paid-in capital 247,465,817 247,732,612
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (134,395,762) (118,096,203)
Accumulated other
comprehensive loss (11,601,403) (10,127,774)
------------- -------------
116,890,915 134,930,918
Less: Treasury shares (4,066,610) (4,066,610)
------------- -------------
Total shareholders' equity 112,824,305 130,864,308
Non-controlling interests 634,036 (782,945)
------------- -------------
Total equity 113,458,341 130,081,363
------------- -------------
Total liabilities and
shareholder's equity $ 281,155,260 $ 293,477,354
============= =============
CBAK Energy Technology, Inc. and Subsidiaries
Condensed consolidated Statements of Operations and Comprehensive Income (Loss)
For the three and nine months ended September 30, 2023 and 2024
(Unaudited)
(In US$ except for number of shares)
Three months ended Nine months ended
September 30, September 30,
---------------------------- ------------------------------
2023 2024 2023 2024
------------- ------------- -------------- --------------
Net revenues $ 63,441,109 $ 44,628,241 $ 148,258,680 $ 151,243,718
Cost of revenues (51,192,531) (37,673,684) (129,219,716) (112,780,088)
------------ ------------ ------------- -------------
Gross profit 12,248,578 6,954,557 19,038,964 38,463,630
------------ ------------ ------------- -------------
Operating
expenses:
Research and
development
expenses (2,577,714) (3,434,351) (8,013,760) (9,205,378)
Sales and marketing
expenses (1,116,377) (1,022,549) (2,800,969) (4,114,954)
General and
administrative
expenses (3,240,770) (2,779,519) (9,302,798) (10,002,040)
(Provision for)
recovery of doubtful
accounts (24,623) (546,011) (286,283) 241,332
------------ ------------ ------------- -------------
Total operating
expenses (6,959,484) (7,782,430) (20,403,810) (23,081,040)
------------ ------------ ------------- -------------
Operating income
(loss) 5,289,094 (827,873) (1,364,846) 15,382,590
Finance (expense)
income, net (447,031) (40,350) (189,248) 658,034
Other income, net 601,654 521,916 1,022,907 1,031,329
Gain on disposal of
equity investee - 55 - 26,967
Change in fair value
of warrants 15,000 - 136,000 -
------------ ------------ ------------- -------------
Income (loss) before
income tax 5,458,717 (346,252) (395,187) 17,098,920
Income tax credit
(expenses) 305,431 (339,287) 1,015,626 (2,188,800)
------------ ------------ ------------- -------------
Net income (loss) 5,764,148 (685,539) 620,439 14,910,120
Less: Net loss
attributable to non-
controlling
interest 570,644 703,186 1,699,008 1,389,439
------------ ------------ ------------- -------------
Net income (loss)
attributable to CBAK
Energy Technology,
Inc. $ 6,334,792 $ 17,647 $ 2,319,447 $ 16,299,559
============ ============ ============= =============
Net income (loss) 5,764,148 (685,539) 620,439 14,910,120
Other
comprehensive
loss
-- Foreign
currency
translation
adjustment (515,279) 4,181,904 (6,405,609) 1,446,087
------------ ------------ ------------- -------------
Comprehensive (loss)
income 5,248,869 3,496,365 (5,785,170) 16,356,207
Less: Comprehensive
(loss) income
attributable to
non-controlling
interest 553,874 719,587 1,927,515 1,416,981
------------ ------------ ------------- -------------
Comprehensive (loss)
income attributable
to CBAK Energy
Technology, Inc. $ 5,802,743 $ 4,215,952 $ (3,857,655) $ 17,773,188
============ ============ ============= =============
Income (loss)
per share
-- Basic $ 0.07 $ 0.00 $ 0.03 $ 0.18
------------ ------------ ------------- -------------
-- Diluted $ 0.07 $ 0.00 $ 0.03 $ 0.18
------------ ------------ ------------- -------------
Weighted average
number of shares
of common
stock:
-- Basic 89,473,026 89,931,617 89,171,988 89,929,477
============ ============ ============= =============
-- Diluted 89,904,319 90,229,849 89,582,401 90,267,431
============ ============ ============= =============
View original content:https://www.prnewswire.com/news-releases/cbak-energy-reports-third-quarter--first-nine-months-of-2024-unaudited-financial-results-302299753.html
SOURCE CBAK Energy Technology, Inc.
(END) Dow Jones Newswires
November 12, 2024 05:00 ET (10:00 GMT)
Comments