omniture

China BAK Signs Lithium-ion High-Power Battery Supply Contract with Geoby Electric

2010-09-27 16:33 1355

SHENZHEN, China, Sept. 27 /PRNewswire-Asia/ -- China BAK Battery, Inc. ("China BAK", the "Company", or "we") (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that the Company's Tianjin facility was awarded a new contract to supply lithium-ion high-power batteries to leading e-bike manufacturer, Geoby Electric Vehicle Co., Ltd. ("Geoby Electric") in China.

As per the supply contract, China BAK will supply 1,000 units of lithium-ion high-power batteries, which will be used by Geoby Electric to manufacture electric bicycles. Management expects to receive additional orders from Geoby Electric following successful integration and performance testing.

"As the electric vehicles industry continues to experience significant growth, there is an increasing need for reliable, high-quality suppliers of lithium-ion batteries such as China BAK. We are pleased to work with Geoby Electric to support their efforts in delivering world-class electric bicycles to consumers. We look forward to working with our valued customers as China's electric vehicle sector continues to evolve," commented Mr. Xiangqian Li, CEO of China BAK Battery, Inc.

About Geoby Electric Vehicle Co., Ltd.

Geoby Electric Vehicle Co., Ltd. is a leading manufacturer and distributor in the healthcare and sporting industries in China. Its Geoby brand lithium-ion E-bike is the top brand in China and has a good presence in the European market. At present, Geoby Electric has dedicated modern production lines for large-scale production of electric bicycles, power wheelchairs and scooters, and other OEM products. For more information, please visit: http://www.geobyev.com/en/index.aspx .

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, 2009, 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.

For more information, please contact:

Mr. Jun Zou
China BAK Battery, Inc.
Chief Financial Officer
Phone: +86-755-8977-0598
Email: ir@bak.com.cn

Mr. Marcus Cui
China BAK Battery, Inc.
Investor Relations Manager
Phone: +86-755-8977-0093
Email: ir@bak.com.cn

Ms. Elaine Ketchmere
Partner
CCG Investor Relations
Phone: +1-310-954-1345
Email: elaine.ketchmere@ccgir.com

Source: China BAK Battery Inc.
Related Stocks:
NASDAQ:CBAK
collection