CBAK Energy Q1 Revenue +99.3% to $69.62M; Net Loss $9.29M
CBAK Energy Technology, Inc. reported its unaudited financial results for the first quarter ended March 31, 2026, with consolidated net revenues nearly doubling to $69.62 million, a 99.3% increase year-over-year. This growth was driven by the gradual release of new production capacity and strong sales momentum in key overseas markets. Despite the robust top-line performance, the company recorded a net loss of $9.29 million, primarily due to higher unit production costs during the ramp-up of new production lines and a temporary delay in passing through increased raw material costs to customers in the battery segment. The Battery Raw Materials segment (Hitrans) demonstrated exceptional growth and returned to profitability.
Key Highlights
- Consolidated Net Revenues increased 99.3% year-over-year to $69.62 million.
- Net Loss attributable to shareholders was $9.29 million, compared to $1.58 million loss in Q1 2025.
- Net Revenues from Light Electric Vehicles (LEV) skyrocketed 441.6% year-over-year to $15.41 million.
- Net Revenues from the Battery Raw Materials Segment (Hitrans) surged 120.2% year-over-year to $32.10 million.
- Hitrans segment achieved a net income of $1.57 million, recovering from a $1.75 million net loss in Q1 2025.
- Gross profit was $1.04 million (1.5% margin), down from $4.80 million (13.7% margin) in Q1 2025.
- Cash and cash equivalents and restricted cash totaled $98.60 million as of March 31, 2026.
- Net cash provided by operating activities was $22.28 million for the three months ended March 31, 2026.
Price Impact
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