CBAK Energy Technology (CBAT) Investor presentation summary

Competitive advantages and market position

• Over 25 years of cylindrical cell technology expertise and 7 years in full-tab R&D, with global firsts in LFP and sodium-ion cylindrical mass production.

• Holds 19% market share in China for 32140 cells and ranks among the top 5 in shipments.

• Strategic partnerships with over half of India's top 10 two/three-wheeler makers and adoption by global leaders like Anker and Viessmann.

• Expanding globally with a planned facility in Malaysia to mitigate geopolitical risks and ensure supply chain resilience.

Financial performance and valuation

• Q3 2025 net revenues reached $60.92M, up 36.5% year-over-year, with net income at $2.65M, a 149.2-fold increase.

• Backlog stands at $32M, with top 5 client orders growing 11.37% YoY in 2025.

• Trades at 0.57x P/S, significantly below peers, suggesting 150-200% re-rating potential if valued at peer multiples.

• Group gross profit for 9M 2025 was $14.14M, with EBITDA at $2.3M.

Product and technology highlights

• Flagship Model 32 Series LFP cylindrical batteries are core revenue drivers, with 57.4 million cells shipped and zero incidents.

• First in China to mass-produce large-format sodium-ion cells, offering cost-stable alternatives and reliable cold-climate performance.

• Full-tab cylindrical platform enables ultra-fast charging, enhanced safety, and longer battery life.

• 7.7% of revenue invested in R&D, with 434 patents and 17% of staff in R&D roles.