CBAK Energy Technology, Inc. Q3 FY2025 earnings call

• Consolidated revenue rose sharply to $50.9 million, up 36.5% YOY. - Hitrans recovered with raw material price rebound, Q3 revenue $27.2M, +143.7% YOY. - Battery business stabilized, Model 32140 from Nanjing doing well; Nanjing Phase II expected to start mass production mid-November 2025, adding 2 GWh. - Dalian's new 40135 line commissioned, 2.3 GWh capacity, early feedback positive. - Overseas manufacturing expansion contingent on China's export control policies; signed term sheet with Asian company for overseas lithium battery base.

Consolidated revenue was $50.9 million, up 36.5% year-over-year. Hitrans segment: Generated approximately $27.2 million in revenue in Q3, representing a 143.7% year-over-year increase. Battery segment: Revenue grew 0.7% year-over-year, returning to prior year level. Model 32140 from Nanjing plant drove growth with fully utilized capacity and backlog. Dalian's new 40135 line has 2.3-gigawatt-hour capacity.

• Hitrans expected to continue recovery and narrow losses. - Nanjing Phase II mass production mid-November 2025; Dalian's new line to enhance earnings in 2026. - Overseas expansion dependent on policy clarity following China-U.S. president meeting.

• Policy shifts could affect overseas manufacturing plans and timelines.

Q: Talk about LEV customer concentration and sustainability of light electric vehicle sales?

A: For LEV business, especially 2-wheelers and 3-wheelers, doing well in Southeast Asia. In India, in communication with top 10 2-wheelers OEM and involved in battery swapping with a big company there.

Q: Hitrans market oversupply and balance?

A: Hitrans focuses on improving quality of current raw material products, anticipating stronger performance in coming quarters as industry recovers.

Q: Production capacity by 2026 and equipment securing?

A: Equipment installed in Dalian and Nanjing, trial production ongoing; mass production by Q1 2026, 6 GWh by next year. Nanjing expansion plan to be announced mid-November, with a video to show latest equipment and production line.