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CBAK Video Chart 8/1/11
http://www.qualitystocks.net/videocharts.php
China BAK Battery, Inc. is not a current client of QualityStocks
And you know this how?
Thanks for the heads up!
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I found this in another china stock forum today. A lot of good info on DD and investing in China RM stocks like ABAT. Most of it bullish!
http://chinasmallcapmonitor.blogspot.com/
also check out:
http://www.globaltimes.cn/DesktopModules/DnnForge%20-%20NewsArticles/Print.aspx?tabid=99&tabmoduleid=94&articleId=666587&moduleId=405&PortalID=0
Yes, about $2 just before earnings come out short term target.
ECO ~ Do you have a price target for CBAK?
Don't wait too long, it is already on the move!!!
looking to start a position in this gem
Picked up a few, it looks like financial info is suppose to come out next week from what i hear.
News, good news:
Totally agree with you mike, way oversold here.
Lets see what happens.
CBAK stock holders equity is around $2/share. They can't keep it down for ever. They spent $2 million on R&D which was equal to their net earnings loss, so they are at break even before R&D expense, and they are deducting R&D as an expense (not capitalizing it), so it is a no brainer over sold stock here. Losses have been steadily heading to zero last 8 quarters, and the next quarter may show a small profit, and the next quarter after that could be gang busters. They cleaned out old inventory, took the losses already, same for bad debts, so they should be lean and mean now, and EV Li-ion battery sales (bikes, scooters....) were PR'd recently as taking off vertically. And if SAMSUNG announces an order soon, boom!
Margin for shorts changes big time below versus above $1, so this will be the battle line at $1/share.
Who ever it is holding this short position can`t do this for much longer, i would expect some short covering real soon.
So far looking good. I`m in for a starter position today on the Samsung news.
There must be a huge shorter on this trying to get a good print for the quarter and half. from 3 to 1, every 20 - 30% pop has been hugely and aggressively sold...maybe today we can end that little cycle....still in a down channel on the 60 min chart as of now
Samsung approval was the news trigger! $3/share in the next 30 days?
Yep, that was vicious. Hoping the non confirmation of the new low helps longs but China stocks are bear raid targets now. GL and thanks for the board. Max
Last 2-3 minutes were most of the volume on three of my stocks (longs) today, huge volume sell off (most likely short sales and covers all once, or?, IMHO).
CBAK was climbing all day, up nearly 10%, back up over $1, only to get hammered down 8.5% in the last 2 minutes, when 80% of the volume went off with about 1.4 million shares in 2 minutes at the close. (obvious game playing, manipulation going on of some sort...so is this still Russel 3000 adjustments for the end of June? If so what does it really mean, did the Russell 3000 add or sell shares to rebalance the fund?, any way to tell for sure?)
ABAT (7.2 million shares, about 5 million in the last 2 minutes)
HTM US geothermal power company also got hammered in the last 2 minutes, down on huge volume at the close. 98% of the volume was in the last 4 minutes, 1000% of the 90 day average volume traded in last 4 minutes, price was up 7-8% earlier in the day and closed down nearly 15% at a new 52 week low.
I think they all made new 52 week lows as a result.
APWR trade was halted late today by NASDAQ asking for more info:
http://online.wsj.com/article/BT-CO-20110627-711041.html
I still think a bunch of these are good China companies with minor problems that shorts knew how to hammer, and SEC, Nasdaq, auditors and retail shareholders are all just running scared after Madoff and Enron, et. al., put them in the lime light, but only time will tell!
I am long CBAK, ABAT and CSGH in the China Battery sector. Oh, and Rita Power, a China Lead acid battery company, its shares were halted almost a month ago. CRTP. I was not long CRTP or APWR when trading halted, nor in any of the other 6 I was watching when they got halted. So far, my luck is holding out here. :)
Great Video Show of China Bak Battery -
http://bak.com.cn/xinxi-xiangxi.asp?id=595
China BAK Battery, Inc. ("China BAK" or the "Company") (NASDAQ: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that it was invited to attend the 2011 Ernst & Young Asia Cleantech Ignition Session in Beijing, on June 24, 2011, jointly hosted by the Ernst & Young Global Automotive Center, Global Power & Utilities Center and Global Cleantech Center.
The Global Automotive and Cleantech Centers co-host executive roundtables that convene key stakeholders across the electric vehicle (EV) value chain, including OEMs, suppliers, utilities and government, investors, consumer product companies and system integrators, focusing on the most important issues in the burgeoning cleantech market. For more information please visit: http://www.ey.com/Publication/vwLUAssets/roundtable_en/$FILE/Cleantech_Ignition_Session_Invitation_EN.pdf
Dr. Zhongyi Deng, China BAK's VP of Sales, will attend the session. "I look forward to sharing China BAK's EV battery supply experiences with the other attendees," commented Dr. Deng. "The Company has experienced strong interest from major vehicle manufacturers in the quality of its lithium-based batteries for electric vehicles. For example, China BAK's EV battery cells power a set of pure electric vehicles manufactured by Dongfeng-Yulon Motor Sales Co., Ltd., a joint venture between leading Taiwanese automaker Yulon Motor and Chinese automaker Dongfeng Automobile Co., Ltd. and delivered to the public transportation authority of the city of Hangzhou, China on June 17. At the same time, we think that one of the goals for the development of the EV industry is to find ways to reduce costs for all participants. I therefore look forward to discussing the Company's roadmap to attain this goal."
About China BAK Battery, Inc.
China BAK Battery, Inc. (NASDAQ: CBAK) is a leading global manufacturer of lithium-based battery cells. The Company produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, notebook computers and portable consumer electronics such as digital media devices, portable media players, portable audio players, portable gaming devices, and PDAs. China BAK Battery, Inc.'s production facilities, located in Shenzhen and Tianjin, PRC, cover over three million square feet and have been recently expanded to support the production of larger batteries for various types of vehicles. For more information regarding China BAK Battery, Inc., please visit http://www.bak.com.cn.
CBAK bottomed last week, and is rallying hard today. My best guess is that we are heading back to $2/share soon, and the book value on CBAK is around $2.35/share.
Dated, but very informative article / interview of a Li electrode supplier in China (CBAK is in CHINA, LOL), talking about the li-battery and Li-Cobalt-Iron-Phosphate raw materials sector and the E-car future in China, and moves by the Chinese government to promote the E-Cars over petroleum fueled cars, with a huge $8,000 subsidy for E-car buyers!:
http://seekingalpha.com/article/208293-interview-with-china-sun-group-vice-president-and-coo
I just rechecked some details on CBAK, now that we dropped under $1, to make sure I wanted to hang on or add more here.
Looking at Fidelity data, the Mutual funds and institutions have have been steady strong buyers of CBAK the last 2 quarters, and over 30% of the OS is owned by insiders who are not and have not been selling. Today's low was 40% of stock holders equity, book value per share, and losses have been steadily dropping quarter to quarter. They should go back to turning a profit this year!!!!
This is no nickel and dime China stock, the market cap at todays price is 23% of annual sales, and they have not been cooking the books, in fact they have reported losses as they wrote off bad debt and wrote down or wrote off old inventory the last 2 years, and tightened their operations, and raised prices (which is why their revenues dropped a few quarters back).
Book value is still over $2/share!!!
Interesting li-ion battery USA application news:
http://www.green-energy-news.com/nwslnks/clips611/jun11011.html
I added to my share count today, added at $1.04
Not sure this is the bottom yet, holding dry powder to add more if it goes way under $1. Stockholder equity is still over $2/share, so if the ongoing losses continue, we are still buying equity here at 50% off on a major player in the li-ion battery market.
I noticed today that their losses on the last quarters nearly equal their heavy R&D expenses, which I doubt they are capitalizing? If I am right, and the R&D efforts are positive, this is even a better buy than it appears right now, as they are spending $2 million dollars per quarter on R&D!!! Also the losses nearly equal interest expenses on debt, so a JCI would probably buy these guys for a lot more than a $1/share if any M&A got rolling in the sector (XIDE has cash and may be eying Li-ion plays to buy!!!!). I still think they will start to turn a profit later this year. The next quarter may not be impressive if Japan (Tsunami, etc) hurt them this quarter, but it could have helped them if China filled a void in Japan capacity to produce and ship this quarter? And they just announced the E-Bike battery sales are taking off, which is one of the major profit centers that has ABAT making a good profit.
Shorts may start covering at $1 to avoid increased margin under $1/share. Also of interest, is that CBAK annual sales are nearly 4 times the current market cap, because the stock price is so low now!
Also 60% of the shares are owned by insiders and institutions!!!!
We may have bottomed here, CBAK, yesterday!!! News out rallied the stock 30% at the open.
Interesting news from China, from an ABAT competitor, but it confirms what ABAT has been tell us recently!!!!!! I just happen to own stock in both, and both are way oversold. The Ebike switch from lead acid to li-ion is just getting started, and has a huge upside potential for both CBAK and ABAT.
Getting into the too cheap not to buy more area here at $1.24, which is less than book value!!!!
From the latest report!
China BAK Battery 2Q Loss/Shr 6c >CBAK
BY Dow Jones & Company, Inc.
— 5:00 PM ET 04/28/2011
SHENZHEN, China, April 28, 2011 /PRNewswire-Asia/ -- China BAK Battery, Inc. (, a leading global manufacturer of lithium-based battery cells, today announced its financial results for the second quarter of fiscal year 2011 ended March 31, 2011 ("Q2 2011").
Recent Achievements and Highlights
-- In February 2011, China BAK secured a new contract to supply lithium-ion high-power batteries to leading e-bike manufacturer, XDS Shenzhen
Xidesheng Bicycle Co., Ltd.
-- During the second quarter of fiscal 2011, the Company's Tianjin subsidiary, BAK Tianjin continued to expand its customer base and shipped four electric car packs to Tianjin Auto, which will be used to power pure electric cars used for postal deliveries. Upon approval by the local government, the pure electric cars will be used in over 20 cities in China for postal deliveries and is expected to generate high demand
Second Quarter Fiscal Year 2011 Financial Results
Net revenues for the second quarter were $46.7 million, down 26.5% from $63.5 million last quarter and down 7.4% from $50.4 million for the same period in fiscal 2010.
Revenues from prismatic products, including aluminum-case cells and battery packs, which are used in mobile phones and certain personal electronic devices, were $29.0 million, down 38.8% from $47.5 million last quarter and down 16.9% from $35.0 million for the same period in fiscal 2010.
Revenues from cylindrical cells used in notebook computers were $15.2 million, up 45.2% from $10.5 million last quarter and up 13.5% from $13.4 million for the same period in fiscal 2010.
Revenues from lithium polymer cells, used in personal electronic devices such as PDAs, MP3 players and Bluetooth devices, were $1.7 million, down 51.6% from last quarter and down 2.4% from the same period in fiscal 2010.
Revenues from high-power lithium battery cells, used in electric vehicles, electric bicycles, power tools, uninterruptible power supplies, and other applications manufactured at the Company's Tianjin facility, were $0.8 million, down 62.5% from last quarter and up 123.6% from the same period in fiscal 2010.
Gross profit for the second quarter of fiscal year 2011 was $4.4 million, down 55.5% from $10.0 million last quarter and down 50.6% from $9.0 million in the same quarter of last year. Gross margin was 9.5%, compared with 15.7% last quarter and 17.9% in the year ago period. The decline in gross profit was mainly attributable to decline in sales volume and selling price of prismatic cells as a result of traditional seasonality and intense competition in the market. In addition, the decline in selling price of cylindrical cells also caused the decline in gross profit.
Operating expenses totaled $6.3 million, or 13.4% of revenue, in the second quarter down 46.8% from $11.8 million, or 18.6% of revenue, in the last quarter and down 22.9% from $8.1 million, or 16.2% of revenue, in the second quarter of fiscal 2010. Research and development expenses were $1.9 million, or 4.1% of revenue, up 17.4% from $1.6 million, or 2.6% of revenue in the last quarter and up 18.9% from $1.6 million, or 3.2% of revenue in the same quarter of fiscal 2010. Sales and marketing expenses were $2.2 million, or 4.7% of revenue down 3.3% from $2.3 million, or 3.6% of revenue in the last quarter and up 28.9% from $1.7 million, or 3.4% of revenue in the same quarter of fiscal 2010. General and administrative expenses were $2.1 million, or 4.6% of revenue down 72.7% from $ 7.9 million, or 12.4% of revenue in the last quarter and down 55.4% from $4.8 million or 9.6% of revenue in the same quarter of fiscal 2010. In the second quarter of FY 2011, the Company recognized recovery of doubtful debts of $0.6 million compared with provision for bad debts of $0.9 million in the same quarter of last year.
Operating loss for the second quarter was $1.8 million compared to operating loss of $1.8 million in the last quarter and operating income of $0.9 million in the same quarter of fiscal 2010.
Net loss was $4.1 million, or diluted loss per share of $0.06, in the second quarter of fiscal 2011 compared to net loss of $3.7 million, or diluted loss per share of $0.06, in the last quarter and net loss of $2.5 million, or diluted loss per share of $0.04, in the same quarter of fiscal 2010.
Financial Condition
On March 31, 2011 China BAK had $25.6 million in cash and cash equivalents. For the second quarter of fiscal year 2011, Days Sales Outstanding (DSO) increased to 177 days from 126 days last quarter and Days Sales of Inventory increased to 143 days from 110 days last quarter. Short-term bank loans and long-term bank loans totaled $173.0 million as compared to $177.6 million on December 31, 2010. Shareholders' equity totaled $146.9 million. China BAK had $ 68.1 million available for borrowing under its credit facilities. The Company generated $2.6 million from cash flow from operating activities in the second quarter of fiscal 2011.
Business Outlook
"Although we experienced seasonality due to the Chinese New Year in February, we were able to report a positive operating cash flow. The decline in average selling prices of our prismatic cells is mainly due to aggressive competition in the market and we are actively pursuing new OEM orders from brand-name cell phone manufactures to increase our OEM market share. We also continue to direct our efforts on enhancing our cost control measures to reduce expenses and improve margins. During the second quarter, we were successful in further reducing our overall debt exposure in line with the goals of our turnaround strategy," commented Ke Marcus Cui, Interim CFO of China BAK.
"We expect our cylindrical cells business to break even in the fourth quarter of fiscal year 2011 due to improved pricing strategy as we expect our new low- cost and longer life cycle cylindrical cells used in notebook computers and power-tool manufacturers to exhibit strong sales volume in the coming quarters. In addition, we anticipate profitability from our prismatic battery business to show improvement in the third quarter due to improved yield and higher capacity utilization," commented Mr. Xiangqian Li, CEO of China BAK.[/quote]
Earnings (or losses) are out. The quarterly report is out, with another loss, and shares fell again, getting close to a 12 month low again. I see several compelling reasons to call this sell off a buying opportunity. First off, I prefer the idea of a well positioned li-ion battery company play in China, where the rare elements Lithium needed for expansion will not depend on exports to the USA or Japan.
While CBAK has an ongoing stretch of losses, they have been profitable in the past. They claim over 3 million sq ft of manufacturing capacity now. They have about .75/share in cash. And the OS shares has been unchanged for 2 years now, meaning no dilution. The stock holders equity is 146,904,000/62,895,000= 2.34/share and losses have averaged about .06/quarter, with half of the loss being interest on debt. That makes the take over candidate as well as a turn around candidate in my book.
My investment in CBAK shares is in part based on an assumption that li-ion, and CBAK li-ion batteries are about to see explosive growth in sales (with better margins) to the electric vehicle market that is just starting out, all the way from electric bicycles to hybrid buses, locomotives, and ships, as well as power back ups and electric power grid load leveling.
Unlike start ups that have limited, if any sales, like AXPW, AONE, and others that huge monthly losses, CBAK has continuous gross profits (sales minus cost of goods, before taxes, interest and administrative and marketing costs) on significant sales each quarter. They are not far from showing net income after all expenses, profits, and they were profitable before the 2008 crash.
I am a bit of turn around stock, bottom fisher, and this one I have bought at prior lows, and will probably buy more of at the bottom this coming week.
There are many other plays in the alt-energy sector, like Lithium mining, but I think this one has the most upside potential here, and little risk (maybe one of the lowest risks) of going much lower in the short to mid term, due the factors above setting a strong floor value.
News today:
China BAK Battery Inc. (NASDAQ GM: CBAK), a leading global manufacturer of lithium-based battery cells, will host a conference call at 8:00 pm Eastern Daylight Time on Thursday, April 28, 2011, to discuss results for the second quarter of fiscal year 2011.
China BAK's Chief Executive Officer Mr. Xiangqian Li and Interim Chief Financial Officer Mr. Ke Marcus Cui will present at the conference call and answer questions.
To participate in the conference call, please dial the following number approximately fifteen minutes prior to the scheduled conference call time: 877-847-0047 or 212-444-0113. International callers should dial (852) 3006-8101. The pass code for the call is 647-312.
If you are unable to participate in the call at this time, a replay will be available on Thursday, April 28 at 11:00 pm EDT, through Friday, May 13, at 11:00 pm EDT. To access the replay, please dial 866-572-7808. International callers should dial (852) 3012-8000 and enter the pass code 647-312.
This conference call will be broadcast live over the Internet and can be accessed by all interested parties on the CBAK website at http://www.bak.com.cn/. To listen to the live webcast, please go to the CBAK website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on CBAK's website for one year.
About China BAK Battery Inc.
China BAK Battery, Inc. (NASDAQ: CBAK) is a leading global manufacturer of lithium-based battery cells. The Company produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, notebook computers and portable consumer electronics such as digital media devices, portable media players, portable audio players, portable gaming devices, and PDAs. China BAK Battery, Inc.'s production facilities, located in Shenzhen and Tianjin, PRC, cover over three million square feet and have been recently expanded to support the production of larger batteries for various types of vehicles. For more information regarding China BAK Battery, Inc., please visit http://www.bak.com.cn.
Safe Harbor Statement
Any word on "China BAK Signs Lithium-ion High-Power Battery Supply Contract with Xidesheng Bicycle"??
Good write up on auto applications:
http://seekingalpha.com/article/260127-alternative-fuels-make-a-good-alternative-investment?source=email_alternative_energy_investing
Chicken or egg?
I found some great tech reference sites for us on battery technology to help with the technical discussions about CBAK's product, markets, etc!!!
http://www.doitpoms.ac.uk/tlplib/batteries/batteries_lithium.php
http://www.powerstream.com/BatteryFAQ.html
10-K annual 2010 report is available today!
Lots of info there!!!!!
Lots of DD needed. I am still long, but worried about a number of items in the annual report, especially debt, and refinancing.
I am wondering how the future currency issues, China/US will affect their debt, refinancing and margins?????
I have lots of questions and concerns after scanning this 10-K!!!!!
I have held and even bought based on price/book value, but we now have 3 years of losses, and debt to roll over. If they dilute to raise cash, we might go lower, unless they can talk up the stock price before dilution (if they dilute?). The recent news of China R&D grant was very possitive.
I may hold what I have, and plan on a major buy way down lower, if it does tank in the next 6 months. It could go higher next, before going lower. I averaged down on the last sell off, so I am doing OK here right now.
Good News:
SHENZHEN, China, Dec. 7, 2010 /PRNewswire-Asia/ -- China BAK Battery, Inc. , a leading global manufacturer of lithium-based battery cells, today announced that the Company's wholly-owned subsidiary, BAK International (Tianjin) Limited ("BAK Tianjin"), received a subsidy of approximately $7.5 million for its automated high power lithium battery project from the National Development and Reform Commission (NDRC) and Ministry of Industry and Information Technology (MIIT).
The Company's automated high power lithium battery project was previously selected as a key project of the PRC's National High Technology Research and Development Program, or "863 Program". BAK Tianjin focuses on the research and development, manufacturing and distribution of advanced high-power lithium battery cells for use in light electric vehicles (EV) and hybrid electric vehicles.
"We have received numerous recognition and research grants for our automated high power lithium battery project. We believe the subsidy from NDRC and MIIT further demonstrates the government's continued support and confidence in our ability to supply high-quality products to the EV industry," commented Mr. Xiangqian Li, China BAK's Chairman and Chief Executive Officer. "We will utilize the grant to expand our production output and enhance product quality to generate additional revenue and strengthen our market position. We firmly believe that with our wealth of experience and advanced technological expertise, we will be successful in continuing to implement our turnaround strategy, increase our market share and deliver high-quality products to our customers."
SHENZHEN, China, Nov. 26, 2010 /PRNewswire-Asia/ -- China BAK Battery Inc., a leading global manufacturer of lithium-based battery cells, will host a conference call at 8:00 am Eastern Standard Time on Tuesday, November 30, 2010, to discuss results for the fourth quarter and fiscal year ended September 30, 2010.
China BAK's Chief Executive Officer Mr.Xiangqian Li and Chief Financial Officer Mr. Jun Zou will present at the conference call and answer questions.
To participate in the conference call, please dial the following number approximately fifteen minutes prior to the scheduled conference call time: 877-847-0047 or 212-444-0113. International callers should dial (852) 3006-8101. The pass code for the call is 636-070.
If you are unable to participate in the call at this time, a replay will be available on Tuesday, November 30 at 11:00 am EST, through Tuesday, December 14, at 11:00 am EST. To access the replay, please dial 866-572-7808. International callers should dial (852) 3012-8000 and enter the pass code 636-070.
This conference call will be broadcast live over the Internet and can be accessed by all interested parties on the CBAK website at http://www.bak.com.cn/. To listen to the live webcast, please go to the CBAK website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on CBAK's website for one year.
http://ih.advfn.com/p.php?pid=nmona&article=45403481&symbol=CBAK
More good news it looks like. This should get them current again on 10-Q reports, get us updated finally on sales, revenue, P/L and get us projections on what they expect the next few quarters. Any signs of break even or profits should easily send us back to $3/share IMHO.
Interesting undercurrents in the news, behind the news!
http://www.techmetalsresearch.com/2010/11/6th-international-rare-earths-conference/
CBAK looks like a buy here today. More good news just out today of an order for 100,000 UPS systems using CBAK's Li-Ion phosphate batteries instead of lead acid batteries!!!
More good news from CBAK! Expecting more USA investor exposure, presenting at an investors conference.
http://ih.advfn.com/p.php?pid=nmona&article=45203491&symbol=CBAK
Add that to the huge short positions in CBAK, all the other resent CBAK news, the addition of an investors PR VP at CBAK, and the next market rally could move this to $3.00 quickly IMHO.
5.6 days needed to cover shorts:
http://shortsqueeze.com/?symbol=cbak&submit=Short+Quote%99
Somebody must be jumping out the window here, down hard yesterday and again this morning on no new news. Test of $2.00 for support now perhaps, or the next panic OPEX sell off phase just starting? I have no idea, but I am not selling my shares.
Edit: We are back up over $2, so I guess it was overnighters panic at yesterdays drop, selling at the open, and MMs moving the bid down to grab cheapest shares at the open. I still think this stock has room to run back up to $3.00, thought it was on it's way 2 days ago....?????
Short (LOL) update, 5 days needed to cover shorts!
http://shortsqueeze.com/?symbol=cbak&submit=Short+Quote%99
Encouraging news today!
http://ih.advfn.com/p.php?pid=nmona&article=44534554&symbol=CBAK
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