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More great news from CBAK. Still selling for 20% of book value here.
http://ih.advfn.com/p.php?pid=nmona&article=53584175&symbol=CBAK
All kinds of news out today, large new order for cells for use in cars, and analyst upgrade from hold to buy today. I just bought enough shares today to double my position. Last rally was just a few months ago, to over $1/share. Book value, stock holder's equity is still close to $2/share, with stock price 1/4th of that.
This is extremely bullish news!!!
China BAK Battery, Inc. ("China BAK", the "Company", or "we") (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that the Company has agreed to supply high-power batteries to Brilliance Auto Group, one of the largest state-owned automobile manufacturers in China. For more information regarding Brilliance Auto, please visit http://en.brilliance-auto.com.
Under this arrangement, China BAK will deliver a sample order of five lithium-ion high-power battery units to Brilliance Auto by July 2012. Brilliance Auto will utilize the high-power battery units to power its electric cars to test the performance and reliability of the battery cells.
"Brilliance Auto is one of the distinguished automobile manufacturers in China and we are excited to deliver our sample battery units to power their electric cars. Our cooperation with Brilliance Auto demonstrates our market recognition and the strong commitment of our team to expand our customer base. Upon successful testing, we expect to receive additional orders and expand the scope of our cooperation," commented Mr. Xiangqian Li, CEO of China BAK.
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, smartphones, notebook computers, e-bikes, electric vehicles, power tools, uninterruptible power supplies, and portable consumer electronics such as portable media players, portable gaming devices, personal digital assistants, or PDAs, camcorders, digital cameras, and Bluetooth headsets. China BAK Battery, Inc.'s production facilities, located in Shenzhen and Tianjin, PRC, cover over three million square feet. For more information regarding China BAK Battery, Inc., please visit http://www.bak.com.cn.
Safe Harbor Statement
This press release contains forward-looking statements, which are subject to change. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All "forward-looking statements" relating to the business of China BAK Battery, Inc. and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties which could cause actual results to differ. These factors include but are not limited to: the ability of the Company to meet its contract obligations; the uncertain market for the Company's high-power lithium and other battery cells; business, macroeconomic, technological, regulatory, or other factors affecting the profitability of battery cells designed for electric vehicles; and risks related to China BAK's business and risks related to operating in China. Please refer to China BAK's Annual Report on Form 10-K for the fiscal year ended September 30, 2011, as well as China BAK's Quarterly Reports on Form 10-Q that have been filed since the date of such annual report, for specific details on risk factors. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. China BAK's actual results could differ materially from those contained in the forward-looking statements. China BAK undertakes no obligation to revise or update its forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
China Cuts Taxes for Energy-Saving Vehicles, Xinhua Says
CHERY AUTOMOBILE IS NAMED , COULD BODE WELL FOR CHINA BAK BATTERY
China announced a second batch of 64 energy-saving vehicles that qualify for lower taxes, with refunds payable to people who have bought the cars since Jan. 1, Xinhua reported , citing a government document.
The government will cut taxes paid by buyers of these vehicles in half, and will eliminate fees for users of seven types of electric automobiles, Xinhua said, citing the document from the finance and industry ministries and the tax agency.
At least 10 domestic automakers including Chery Automobile Co. and Yangzhou Yaxing Motor Coach Co. (600213) are on the list, Xinhua said. The government first applied the policy in March to at least 200 eligible vehicles, including hybrid cars, pure electric cars and fuel-cell vehicles, Xinhua said.
I was surprised that CBAK held up so well after the recent price crash on the latest very poor earnings report, which was right after a 100% rally to regain Nasdaq listing. Maybe some see a silver lining in that report? I have not had time to read it all. Did I miss something in it, or did bargain shoppers that bought recently at over $1 step in and average down?
I was very disappointed in the size of the last loss reported, much larger than prior losses, seeming to get worse, not better all of a sudden? Starting to have long term doubts about this outfit. Been holding and adding based on book value at about $2, and belief they could turn it around, for about 30 months here.
53.85 percent of Participants would consider purchasing a new-energy vehicle, a poll conducted by SoHu.
With surging gas prices and new government incentives to back new-energy vehicles, Chinese people are showing greater interest in the fledgling sector.
China's State Council on Wednesday approved a development guideline for the energy-saving and new-energy car industry, a step conducive to easing pressure on natural resources and the environment.
Online posts and microblog accounts soon buzzed with speculation about how the new-energy vehicle sector will develop in the world's largest auto market.
A poll conducted by Sohu.com, a major Chinese web portal, indicated after the approval of the development guideline, 53.85 percent of participants would consider purchasing a new-energy vehicle if the government offers subsidies for buyers.
Around 36 percent said their decision would depend on the size of the subsidy, while just 10.33 percent completely ruled out the possibility of buying one, according to the poll.
Supporters say that owning a car that consumes little to no gasoline is becoming an increasingly enticing alternative, especially in light of surging gas prices.
China's gas prices are currently at a record high. The country has raised gasoline and diesel prices twice since the beginning of this year.
As of June 2010, China's central government has launched trial subsidy programs in five cities -- Shanghai, Changchun, Shenzhen, Hangzhou and Hefei. The program offers a subsidy of up to 60,000 yuan (9,523.2 U.S. dollars) to buyers of purely electric vehicles and 50,000 yuan to hybrid vehicle buyers.
Local governments will also offer subsidies. For instance, Shenzhen and Haikou are paying out 60,000 yuan in subsidies for each person who purchases an electric vehicle.
The government will expand the pilot program for subsidizing the private ownerhips of new-energy cars, according to a statement released Wednesday after a State Council executive meeting presided over by Premier Wen Jiabao.
The government also plans to build more battery-charging stations and create more facilities for recycling batteries.
It is hoped that China's accumulative output of electric and hybrid vehicles will reach 500,000 units by 2015 and 5 million by 2020, the statement said.
However, the sales volume of new-energy cars still represents just a tiny share of China's total car sales.
In the first quarter, sales of energy-saving and new-energy vehicles amounted to 10,202 units, just a fraction of the 4.79 million vehicles sold overall during the quarter, according to data from the China Association of Automobile Manufacturers (CAAM).
Results from the Sohu.com poll indicate that the top concerns about new-energy cars revolve around battery performance and lifespan, affordability and the availability of battery-charging facilities.
A statement issued by the State Council following their Wednesday underscored the necessity of requiring domestic manufacturers to become capable of independently producing state-of-the-art components for new-energy cars.
China should endeavor to make breakthroughs in developing key technology to significantly enhance fuel efficiency and battery safety, the statement said.
China overtook the United States to become the world's largest auto market in 2009. Chinese automobile manufacturers produced 13.79 million and sold 13.64 million motor vehicles that year.
China Bak Battery is in the sweet spot .
Link :http://www.energychinaforum.com/news/62380.shtml
CHINA APPROVES BLUEPRINT FOR ELECTRIC VEHICLES
Electric cars will be prioritized in the transformation of China's auto industry, the government said after a meeting of the State Council Wednesday.
China, the world's largest auto market, wants to put 5 million hybrids and electric vehicles (EV) on the road between now and 2020. The Chinese government Wednesday approved a guideline for development of new electric vehicles to ease pressure on the environment.
The meeting, presided by Prime Minister Wen Jiabao, noted that the country's electric vehicles will reach 500,000 units by 2015 and five million by 2020, Xinhua reported.
China overtook the US to become the world's largest auto market in 2009 after selling 13.64 million vehicles that year.
Both car sales and production volume witnessed astonishing growth in 2009 and 2010 before slowing to a 2.4-percent growth rate in 2011.
The country still remains the world's largest auto market, although in the first quarter of this year, sales fell slightly year-on-year due to a high comparison basis and surging oil prices, according to the China Association of Automobile Manufacturers..(
China Bak is in tne sweet spot and from now on it will rock, mind my words.
CBAK news is out here today! We have official $1 NASDAQ compliance now, so no delisting threat left. This is great news for the long and could lead to a rally back to $2 this year, as $2 is about the current book value per share!
Actually I own 4 china battery stocks, CBAK, ABAT (which I am watching for a bottom to buy more), CRTP (lead acid batteries), and CSGH that makes electrodes (has mining operations cobalt and Lithium, rare earth chemistry and lithium iron phosphate electrode supplier to ABAT and CBAK).
If ABAT hits .20 (or close) I will load the boat with more shares. Also watching to buy more CSGH. Holding them all long term.
Ecomike, looks like you've dropped off ABAT for some time now. Did you divest from ABAT? What do you think their prospects are for coming back? Looks like CBAK is your current battery play. ABAT has been a long, slow bleed for the past few months, and there does not seem to be light at the end of the tunnel.
With this kind of steady news we may be headed back to $2 / share finally, which is the book value per share!!! Great CBAK news today on Cherry Electric autos buying 1000% more high power batteries before the first batch are even finished and delivered!
China BAK Battery, Inc. ("China BAK", the "Company", or "we") (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that on April 9, 2012, the Company entered into a new contract to supply high-power batteries to Chery Automobile Co., Ltd. ("Chery").
Under the contract, China BAK will deliver 1,000 lithium-ion high-power battery units in 2012 to power Chery's Ruilin M1 electric cars. The new contract is in addition to the Company's previously-announced contract with Chery, entered into in February 2012, to supply 100 high-power battery units to Chery, which are on schedule to be delivered by June 2012. The Ruilin M1 is one of the five electric vehicle models that have been approved for government use since early this year.
Additionally, the Company announced that it will hold a joint press conference with Chery in mid-April in Tianjin. At the press conference, Chery and China BAK plan to announce a long-term cooperation program in the electric vehicles industry and invite an interactive discussion with the attendees.
"We believe that this additional order from Chery, and their anticipated further orders and cooperation, further underline our ability to deliver high-quality battery products and lead the development of China's emerging electric vehicle battery market. Likewise, we continue to expect additional orders from other domestic customers for our lithium-ion high-power batteries to power electric vehicles in China in 2012," commented Mr. Xiangqian Li, CEO of China BAK.
More great CBAK news today, and we are going higher on the news:
http://ih.advfn.com/p.php?pid=nmona&article=51876687&symbol=CBAK
Interesting, and very positive! It was not clear what the end market is until their last statement:
China BAK Battery, Inc. (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that the Company received a new contract to supply its high-power lithium-ion batteries to a major Korean electric motor manufacturer.
Under the contract, China BAK will deliver 300 high-power lithium-ion battery units to the Korean manufacturer by April 2012 to power its electric motors. The customer previously tested and provided feedback on a sample set of China BAK's lithium-ion high power batteries.
"We are pleased to expand the end market for our high-power lithium-ion batteries to electric motors. Our supply contract with a major Korean manufacturer marks our entry in the attractive electric motors market," commented Mr. Xiangqian Li, CEO of China BAK. "We are pleased with customer feedback on our high-power lithium-ion batteries and expect to receive additional orders in the third fiscal quarter of 2012. We will continue our attention toward engaging with the EV industry and expect to make additional progress in this direction," added Mr. Li.
List puppy has set sail finally!!!! Book value still over $2/share!!!!
China BAK Battery, Inc. ("China BAK", the "Company", or "we") (NASDAQ: CBAK - News), a leading global manufacturer of lithium-based battery cells, today announced that the Company achieved progress in the domestic OEM market in March 2012.
On March 23, 2012, ZTE Corporation notified the Company by written notice that China BAK has passed its certification process to supply battery cells It is expected that the Company will begin to supply approximately one million polymer cells every month to ZTE in the third fiscal quarter.
Also in March 2012, the Company won a bid to supply battery cells to TCL Corporation, one of the largest consumer electronics enterprises in China with a global presence. The Company will supply 3 million prismatic cells from April through June to TCL. As the Company is a qualified battery supplier to Vodafone Group, TCL may also supply some of our battery cells to Vodafone.
"We are committed to transforming into a qualified battery supplier to the OEM market globally, and we are pleased to see the initial achievement we gained in China," commented Mr. Xiangqian Li, president and chief executive officer of China BAK. "We will continue to focus on producing qualified batteries used in different areas to the OEM market," added Mr. Li.
One hell of a stealth rally here this week!!!! Still only 50% of book value.
I was thinking I must have missed something here (was too busy all week):
Big Order for the US . Take a look at this:
http://www.importgenius.com/suppliers/shenzhen-bak-battery-co-ltd
Another 6-10% opening rally here today, CBAK, on another market sell off day. CBAK is bucking the market and doing a solid rally right now. Target at least $1.10-$1.20 IMHO, news may be coming, and or rally to solve Nasdaq $1 or 10 days requirement? CBAK Book value of the common stock is about $2/share!!!!
Conspicuous volume and a 10% price rally this morning on a down market day, with no news!!! Something is up!!!!
Annual meeting conference call news, March 12th, 8 am coming!!!
http://ih.advfn.com/p.php?pid=nmona&article=51477884&symbol=CBAK
Great news out today! We should head back over $1/share now:
I usually disagree, however this looks to be a good chart here and you are probably correct in your diagnosis. Thank you.
Earnings are out. Best quarter in 3-4 years near as I can tell. All positive news on all items except a .03/share loss(which I believe is a 4 year low now), and book value is still 2.5 times the share price. Revenue, and operating profits way up across the board.
I will be doubling my share count on any pullbacks this year.
~ $CBAK ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $CBAK ~ Earnings expected on Tuesday *
This Week In Earnings: Earnings are coming or are already posted! This is what the charts look like! If you play the earnings these posts can be very helpful to you!
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=CBAK&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=CBAK&p=W&b=3&g=0&id=p54550695994
~ Barchart: http://barchart.com/quotes/stocks/CBAK?
~ OTC Markets: http://www.otcmarkets.com/stock/CBAK/company-info
~ Google Finance: http://www.google.com/finance?q=CBAK
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=CBAK#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=CBAK+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=CBAK
Finviz: http://finviz.com/quote.ashx?t=CBAK
~ BusyStock: http://busystock.com/i.php?s=CBAK&v=2
~ CandlestickChart: http://www.candlestickchart.com/cgi/chart.cgi?symbol=CBAK&exchange=US
~ Investorshub Trades: http://ih.advfn.com/p.php?pid=trades&symbol=CBAK
~ Investorshub Board Search: http://investorshub.advfn.com/boards/getboards.aspx?searchstr=CBAK
~ Investorshub PostStream Search: http://investorshub.advfn.com/boards/poststream.aspx?ticker=CBAK
~ Investorshub Goodies Search: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18582&srchyr=2011&SearchStr=CBAK
~ Investorshub Message Search: http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=CBAK
~ MarketWatch: http://www.marketwatch.com/investing/stock/CBAK/profile
~ E-Zone Chart: http://www.windchart.com/ezone/signals/?symbol=CBAK
~ 5-Min Wind: http://www.windchart.com/stockta/analysis?symbol=CBAK
~ 10-Min Wind: http://www.windchart.com/stockta/analysis?symbol=CBAK&size=l&frequency=10&color=g
~ 30-Min Wind: http://www.windchart.com/stockta/analysis?symbol=CBAK&size=l&frequency=30&color=g
~ 60-Min Wind: http://www.windchart.com/stockta/analysis?symbol=CBAK&size=l&frequency=60&color=g
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
Q4 and annual out today.
Up another 12% today, on no news! This thing must be running on a full lithium ion charge!!!! LOL
GO CBAK!!! I knew you could do it!!!!
Some one wants that Nasdaq notice rescinded fast!!! And I think earnings are pending, so someone may know something, perhaps a profit again, finally? OR maybe they got a large order?
Book value is still about $2/share!!!
Great news hot off the press for CBAK:
http://seekingalpha.com/article/303735-harbin-electric-buyout-approved-implications-for-u-s-listed-chinese-stocks?ifp=0&source=email_global_markets
This should be the beginning of the end for short attacks on China stocks like CBAK !!! And a beginning of a search for oversold stocks in the China sector like CBAK that are not frauds!!!
Where there is one, there are two,....and so on to many!!!! The same logic the shorts used to throw all China stocks into a tail spin a year ago!!!!
WOW!!! Holy COW Batman, that was fast. up .99 in a flash!!!!
This must be a flash rally, reverse of a flash crash LOL!!!
NASDAQ non compliance notice has been issued. 6 month count down underway to get the price to close over $1/share for 10 days in a row. With book value over $2/share, that should be easy.
Heads up CBAK'ers, volume and price spike this morning, from .70 to .93, up over 20%!!!! Something is up!!!!
Up nearly 50% already from the 52 week low, and the book value is still about $2.20/share!!!
i'm going to buy all I can here
Book value is still between $1.50 and $2.00, they just need to report one quarterly profit to turn the stock price.
I see huge gains from here
Interesting read!
Report Electric cars
Thursday 29 September 2011
9 million EV's in Berlin
According to Katie Melua there are 9 million bicycles in Beijing. If it is up to the European Commission, there will be many millions of electric vehicles in Berlin and other European cities in 2050.Indeed, the ambition announced in the Commission's "Roadmap to a Single European Transport Area", published in March of this year, is to have no more "conventionally-fueled" cars at all anymore in urban transport (i.e. in cities) by 2050. This would mean that of the 51 million cars on the road in Germany, many millions would have to become electric vehicles. The German government itself announced two years ago that it wants to have one million electric cars on the road in 2020. Whether this is realistic, remains to be seen. Right now, the country boasts a mere 2,300 fully-electric cars. A long way to go.
But if we assume that the development of electric cars will really take off in Germany and the rest of Europe in the coming decades, the question is, what would this mean for the electricity sector? European Energy Review put this question to Peter Birkner, a German specalist who is also chairman of the Networks Committee of industry association Eurelectric. His answer may come as a surprise: for power generation, it would not have too much of an impact. One million electric vehicles, he says, can run on just 0.3% of German electricity supply!
However, for the electricity grid it would mean a great deal. If a million German car drivers came home from work and plugged in their vehicles all at once, says Birkner, the grid would collapse.
According to Birkner, the only way to make possible the integration of electric mobility into the electricity system, is the introduction of automated "smart charging" systems that can flatten the too-high peak loads that would otherwise occur. In addition, he says, it would help a great deal if all these electric cars were used not only as power consumers, but also as storage devices for the power system.
These changes will require the generous cooperation of the people who will be driving the cars. They will not only have to pay the costs, they will have to become active participants in the electricity system as well. Our new correspondent in Berlin, Alexander Bakst, has the full story for you. You can read it by clicking here:
http://www.europeanenergyreview.eu/index.php?id_mailing=208&toegang=091d584fced301b442654dd8c23b3fc9&id=3
http://www.europeanenergyreview.eu/site/pagina.php?id=3245
Sooner or later this will be a turn around story! This may be part of that turnaround in today's news!
More news on sales, revenue forcasts....
http://ih.advfn.com/p.php?pid=nmona&article=49256790&symbol=CBAK
Earnings details:
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