Cbak Energy Technology, Inc. (delisted) (CBAK) Noticias

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CBAK Received Order From Viessmann Group for EUR116.5 Million of Lithium-Ion Batteries for 2024
Total orders from Viessmann in 2022 and 2023 have reached EUR176.1 million

DALIAN, China, June 15, 2023 /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 announced that the Company has received an order worth EUR116.5 million (approximately USD124.5 million) of lithium-ion batteries from the Viessmann Group ("Viessmann"), a leading European provider of heating, cooling, and renewable energy systems, for 2024.

CBAK Energy has been supplying lithium-ion batteries to Viessmann since 2020. CBAK Energy previously announced that it had received two orders in May and September 2022 for lithium-ion batteries worth EUR59.6 million in total from an unnamed European purchaser. We are now disclosing that this customer was Viessmann. This new order, set to be delivered in 2024, will bring the total order value received in 2022 and 2023 from Viessmann to approximately EUR176.1 million.

Founded in 1917, Viessmann, a global family business, has 22 production companies in 12 countries, and 120 sales branches. Viessmann has transitioned from a heating system manufacturer to a global technology leader, with total revenues of EUR4 billion in 2022, of which over 50% were achieved internationally. Furthermore, in April 2023 it was announced that Viessmann Climate Solutions, the client of CBAK Energy, would be acquired by Carrier Global Corp., the world's largest supplier of heating, ventilation, and air conditioning, as well as a provider of refrigeration equipment. Combining the two companies will create a business with total sales revenue of over EUR17 billion.

Yunfei Li, Chairman and Chief Executive Officer of CBAK Energy, commented, "We are excited to receive such a sizable order, which we believe is a testament to the quality and reliability of our batteries. Viessmann has grown over the decades into a company that provides an integrated range of climate solutions. We are proud to be one of Viessmann's key suppliers and accompany them in their continued growth, fueled by their leading market position and strong demand for effective climate solutions. Viessmann's continued success shows that climate protection technologies are the technologies of the future. We look forward to additional opportunities to expand our reliable high-power lithium-ion batteries throughout the global market, which are well suited to a variety of applications."

About CBAK Energy

$CBAT - This source says the January 3 yr contract with California based SimpliPhi was worth ~300M yuan, which equates to ~42.5M USD. For comparison, CBAK only took in 24M USD for the entire year of 2018. https://xianjichina.com/special/detail_381956.html

Watch the close.... Let her breathe a minute.

CBAK nothing company specific just China stocks are rallying across the board...unfortunately I wasn't in this one before the spike.

Good luck, you will likely need it with this one. I rode this horse from 2008/09 till about 2014, and gave up. This looks like a short sell the rally chance to get out.

But who knows. GLTA

I'm here bro, I'd like $4.

Don't look now but I think you missed the big ride, twice, now on this one?

And another huge bounce today. What the hell did we miss? No sign of any reason I see for it? Is this a Saudi oil pending disaster effect surfacing? I doubt it...

CBAK yep but that was one huge bounce yesterday

So who used a stealth mode spike of the koolaid here today? Massive rally, massive bounce, massive volume with absolutely no sign of why???

:) scalping the tide. Cheers.

Stay far away, they need money badly. Expect them to issue shares.

A rotting corpse, but the buzzards haven't taken the eyes yet.

Total garbage at this point. Will it receive a delisting letter Monday? .10 or lower first target. Don't catch the knife.

It's a ways to drop. They are in a financial crunch. .10 in order?? You never know, but never try and catch that knife. You're lucky in that you took a profit. They are not serving common shareholders period. Financiers will bring the pps down, wait for the dead cat bounce. This is on my priority watch.

CBAK yep I just played a bounce awhile ago in @ .85 and out @ .97 haven't looked at this in awhile but the fundamentals are terrible.

I'm hungry for some shares, but I think the pps is going much lower for a finance deal. Not sure what the hell is going on. Lithium in China cars maybe huge. I don't like the looks of this at all.

CBAK yep ugly as hell on no news and I'm loading down here...check CALI from 3/17-5/17 same deal a big drop on no news followed by a bigger spike...both China stocks.

One good thing about it dropping below $1 is that gets it off of the .05 tick size pilot crap.

Lithium batteries for electric cars in China..I like.

Maybe an offering. IDK, but it's really ugly.

CBAK any idea why the collapse in the SP?

I can't find a damn thing.

I'm back in at a dime!

Accumulation stage no doubt where this is going. Relax and enjoy huge gains.

And here we go? https://www.hugopress.com/cbak-energy-technology-inc-nasdaqcbak-traded-significantly-above-its-50-day-average/6198998

$CBAK Strong BUY @ Barchart > https://www.barchart.com/stocks/quotes/CBAK/opinion

Volume strong in the accumulation stage. We're gonna fly big time on news that's going to be dropped. Full to the tilt. Some big time accumulation. It's been a longtime since I've seen this in cbak. How about you?

$CBAK @ support

We both know how this goes up. Zig zag boom!

$CBAK Strong BUY @ Barchart > https://www.barchart.com/stocks/quotes/CBAK/opinion

$CBAK 2nd Resistance Point 2.19
1st Resistance Point 2.04
Last Price 1.89

Bull run coming $CBAK

People forget how this runs... I sure didn't. We're going to hit 4 no doubt...

BaBOOOOM!

$CBAK Thomson Reuters/Verus upgrades CBAK ENERGY TECHNOLOGY INC from HOLD to BUY.

$CBAK NEXT LEG $2.25

$CBAK LITHIUM BATTERIES ARE GOING

Sleeping giant is waking up. I'm gonna retire soon.

$4.00 target next 3 weeks. MM accumulation was evident.

China to phase out gas powered cars

It's about time! Let it ride. 2's are coming.

I'm kinda thinking of getting in this thing..... I see someone sold in 2015 and 2016 and bought back in recently....... Anyone have thoughts where this thing is going?

How long before this pig is in trip zero land ?

Low Float Mania, Too

Cbak is China battery maker

Trump taking away tax payer funded incentives for U.S. battery makers and their posses...

IN 1.65 GONNA FLY SOON..WATCH

Continued selling tax loss time!
See y'all in the sub.70 range! This is a dog and will fall further when Donald Duck rules...not looking pretty for cbak.

Quick get out. China Brick Bat.

https://www.owler.com/reports/china-bak-battery/csc-group-joins--133m-funding-round-in-electric-ve/1477654080858?utm_source=twitter&utm_medium=social&utm_campaign=sectorNews_IndustrialMachinery&Equipment

insider trading going to walk this up to 4.00

I was right about this being a great stock to short, CBAK I just picked the entry point and put options too soon. She plowed under $3 today and is free fall now.