中比能源 2023年季度报告

FORM10−Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number:001-32898 CBAK ENERGY TECHNOLOGY, INC.(Exact Name of Registrant as Specified in Its Charter) Nevada88-0442833(State or other jurisdiction of(I.R.S. Employer BAK Industrial Park, Meigui StreetHuayuankou Economic ZoneDalian City, Liaoning Province,People’s Republic of China, 116450(Address of principal executive offices, Zip Code) (86)(411)-3918-5985(Registrant’s telephone number, including area code) (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periodthat the registrant was required to file such reports), and (2) has been subject to such filing requirements forthe past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data Filerequired to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of“largeaccelerated filer,”“accelerated filer,”“smaller reporting company,”and“emerging growthcompany” in Rule 12b-2 of the Exchange Act. Accelerated filer☒Smaller reporting company☒Emerging growth company☐ Large accelerated filer☐Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuantto Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the ExchangeAct). Yes☐No☒ The number of shares outstanding of each of the issuer’s classes of common stock, as of November 8, 2023is as follows: Class of SecuritiesShares OutstandingCommon Stock, $0.001 par value89,487,190 CBAK ENERGY TECHNOLOGY, INC. TABLE OF CONTENTS PART IFINANCIAL INFORMATIONItem1.Financial Statements.1Item2.Management’s Discussion and Analysis of Financial Condition and Results of Operations.51Item3.Quantitative and Qualitative Disclosures About Market Risk.66Item4.Controls and Procedures.66PART IIOTHER INFORMATION Item1.Legal Proceedings.67Item1A.Risk Factors.67Item2.Unregistered Sales of Equity Securities and Use of Proceeds.67Item3.Defaults Upon Senior Securities.67Item4.Mine Safety Disclosures.67Item5.Other Information.67Item6.Exhibits.67 i PART IFINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. FINANCIAL STATEMENTSCBAK ENERGY TECHNOLOGY, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED FINANCIAL STATEMENTSFOR THE THREE AND NINE MONTHS ENDEDSeptember 30, 2022 AND 2023 CBAK ENERGY TECHNOLOGY, INC.AND SUBSIDIARIES TABLE OF CONTENTS ContentsPage(s)Condensed Consolidated Balance Sheets as of December 31, 2022 and September 30, 2023(unaudited)2Condensed Consolidated Statements of Operations and Comprehensive Income (loss) for thethree and nine months ended September 30, 2022 and 2023 (unaudited)3Condensed Consolidated Statements of Changes in Shareholders’ Equity for the three and ninemonths ended September 30, 2022 and 2023 (unaudited)4Condensed Consolidated Statements of Cash Flows for the nine months ended September 30,2022 and 2023 (unaudited)6Notes to the Condensed Consolidated Financial Statements (unaudited)7 CBAK Energy Technology, Inc. and SubsidiariesCondensed consolidated Balance SheetsAs of December 31, 2022 and September 30, 2023(Unaudited) See accompanying notes to the condensed consolidated financial statements. See accompanying notes to the condensed consolidated financial statements. CBAK Energy Technology, Inc. and subsidiariesNotes to the condensed consolidated financial statementsFor the three and nine months ended September 30, 2022 and 2023(Unaudited)(In US$ except for number of shares) 1. Principal Activities, Basis of Presentation and Organization Principal Activities CBAKEnergy Technology,Inc.(formerly known as China BAK Battery,Inc.)(“CBAK”or the“Company”) is a corporation formed in the State of Nevada on October 4, 1999 as Medina Copy, Inc. TheCompany changed its name to Medina Coffee, Inc. on October 6, 1999 and subsequently changed its nameto China BAK Battery, Inc. on February 14, 2005. CBAK and its subsidiaries (hereinafter