SHENZHEN, China, Sept. 29, 2011 /PRNewswire-Asia/ -- China BAK Battery, Inc. ("China BAK" or the "Company") (NASDAQ: CBAK), a leading global manufacturer of lithium-based battery cells, held an investor event in Shenzhen and Tianjin and celebrated the Company's 10th anniversary in September 2011.
At China BAK's investor event, management discussed the Company's operations, market opportunities, financial performance, and long-term growth strategy, in conjunction with hosting a tour of its facilities. The investor event was held at the Company's headquarters in Shenzhen on September 13, 2011 and at its Tianjin facility on September 16 and September 19, 2011 and was attended by the investment community and media professionals.
China BAK celebrated its 10th Anniversary on September 23, 2011 with the theme "New Power – New Start" and at this event the Company announced the production launch of its first single battery with a capacity of 100Ah for use in Electric Vehicles (EVs). The Company's new single battery is a result of the Company's research efforts utilizing advanced materials and technology to address the challenging technical problems associated with the internal high temperature conditions of a battery. The Company's battery module with a capacity of 100Ah consists of a number of 18650 cells, and is based on module standardization, adopting the mature 18650 cell technology and American modular techniques. The Company believes this battery module design is highly suitable to EV demands given its stable performance. China BAK will manufacture its new single battery and battery module products at its Shenzhen facility.
China BAK also launched a new corporate and investor relations website on September 23, 2011 to strengthen its communications with investors, customers and business partners. The new website provides key information on China BAK, including corporate history, industry and product information, corporate news, investor information, SEC filings, investor presentations, a corporate profile, and press releases.
"At China BAK, we are thankful for the continued support from our employees, government, customers, suppliers and all our shareholders. We believe our high-power battery solutions will enable the Company to play an important role in the rapidly growing new energy industry," commented Mr. Xiangqian Li, CEO of China BAK. "We also believe our new corporate web site will enhance our communications with investors and customers, enabling our stockholders to better understand our business and growth strategy."
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 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: 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, 2010, 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.
SOURCE China BAK Battery, Inc.