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China BAK Promotes Marcus Cui to Chief Financial Officer

2011-05-27 17:09 1223

SHENZHEN, China, May 27, 2011 /PRNewswire-Asia/ -- China BAK Battery, Inc. ("China BAK" or the "Company") (NASDAQ: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that the Company's board of directors promoted Mr. Ke Marcus Cui to chief financial officer, treasurer and secretary, effective immediately. Mr. Cui had been serving as the Company's interim chief financial officer since December 2010 and director of investor relations since September 2010.

Mr. Cui brings a wealth of experience in management, accounting, auditing, financial analysis and reporting. Previously, Mr. Cui served as assistant to the general manager of BAK Tianjin, transitioning to the position of marketing and sales director and most recently he served as the finance director of BAK Tianjin. He also worked in Japan for Nomura Institute of Capital Market Research as assistant researcher. Mr. Cui earned his Bachelor of Science degrees in project management and economic information management from Chiba University of Japan and Jilin University, respectively, and a Master's degree in international financial analysis from University of Newcastle England. Mr. Cui is fluent in Mandarin, English and Japanese.

Mr. Xiangqian Li, China BAK's president and chief executive officer, stated, "Mr. Cui continues to work hard to improve the Company's financial condition since his appointment as interim chief financial officer and has gained recognition from the board and senior management. We are delighted to promote Mr. Cui into the CFO position. Throughout his tenure at China BAK and BAK Tianjin, Marcus has successfully taken on roles of increasing responsibility demonstrating his commitment to achieve excellence. He has a strong understanding of our business and operations and we are confident in his ability to continue to steer China BAK through this turnaround period."

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, notebook computers and portable consumer electronics such as digital media devices, portable media players, portable audio players, portable gaming devices, and PDAs. China BAK Battery, Inc.'s production facilities, located in Shenzhen and Tianjin, PRC, cover over three million square feet and have been recently expanded to support the production of larger batteries for various types of vehicles. 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.
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