CBAK Energy Forms Strategic Partnership with Anker Innovations to Establish Battery Cell Manufacturing Facility in Malaysia, with Potential Orders Valued at Up to US$357 Million

DALIAN, China, June 30, 2025 (GLOBE NEWSWIRE) -- CBAK Energy Technology, Inc. (NASDAQ:CBAT) ("CBAK Energy" or the "Company"), a leading manufacturer of lithium-ion and sodium-ion batteries and comprehensive electric energy solutions in China, today announced that its wholly-owned subsidiary, China BAK Asia Holdings Limited ("China BAK"), has entered into a significant strategic partnership (the "Partnership") with Anker Innovations Technology Co., Ltd. (Shenzhen Stock Exchange: 300866, "Anker Innovations"), a global leader in intelligent hardware and one of CBAK Energy's largest customers. As part of this Partnership, CBAK Energy will establish a new battery cell manufacturing facility in Malaysia (the "Malaysian Project"), with construction beginning immediately. The facility is expected to commence mass production of the Company's flagship LFP cylindrical battery models, 32140 and 40135, by the end of 2025.

In recognition of CBAK Energy's commitment to expanding its global manufacturing presence, Anker Innovations and CBAK Energy have established a long-term cooperation framework, with potential orders valued at approximately US$357 million. Both parties have also expressed a strong mutual intent to collaborate closely on the Malaysian Project. Since 2022, Anker Innovations has steadily increased its procurement of battery cells from CBAK Energy, becoming the Company's largest customer. The majority of these purchases have centered around the Model 32140 LFP cylindrical batteries, which power Anker's high-demand portable energy storage products—particularly in the U.S. market. The new Partnership marks a deepening of this long-term collaboration.

CBAK Energy has completed the registration of its Malaysian entity and expects to begin facility renovation as early as next month.

Zhiguang Hu, Chief Executive Officer of CBAK Energy, commented, "We are thrilled to enter into this strategic partnership with Anker Innovations, a highly respected and globally recognized brand. This long-term order commitment, along with substantial prepayments, reflects Anker's strong confidence in our technical capabilities, product performance, and manufacturing quality. We are fully committed to allocating all necessary internal resources to ensure the successful launch of the Malaysian Project and the fulfillment of this transformative order."

About CBAK Energy

CBAK Energy Technology, Inc. (NASDAQ:CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium batteries and raw materials for use in manufacturing high power lithium batteries. The applications of the Company's products and solutions include electric vehicles, light electric vehicles, electric tools, energy storage, uninterruptible power supply (UPS), and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing and Shaoxing, as well as a large-scale R&D and production base in Dalian.

For more information, please visit ir.cbak.com.cn.

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