China BAK Battery, Inc. (CBAK)

[Ecomike]

PR Newswire – 06/13/2011

SHENZHEN, China, June 13, 2011China BAK Battery, Inc. a leading global manufacturer of lithium-based battery cells, today announced that the Company has successfully achieved a turnaround in its cylindrical battery cells business for the month of May 2011. China BAK's operational results for the month of May 2011 indicate that the Company's cylindrical battery cell business is now profitable.

Stock price has been falling last 2 years due to losses!! So this is major news!

CBAK sales are now 300% of their market cap, 1/4 billion dollars in sales. Stock holders equity, book value is 2X the stock price today!!!

I am still averaging down as this goes lower. I am staying long on this one!!!! Fundamentally undervalued, and it is not one the stocks under attack for fraud, in fact it has had losses the last 2 years, but they have been heading to a break even line steadily. This may be one of the gem buys here in the China sector, a major Li-ion battery manufacturer.