This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

China BAK Hosts Visit By Representatives Of Xiangyang City And Dongfeng Motor Corporation

Stock quotes in this article: CBAK

SHENZHEN, China, Feb. 17, 2012 /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 on February 16, 2012, the Company hosted representatives from the People's Government of Xiangyang City in Hubei Province and Dongfeng Motor Corporation at its Shenzhen facility.

On February 16, 2012, a group of officials led by Mr. Bixiong Bie, mayor of Xiangyang City, Mr. Shuyong Li, executive vice-mayor of Xiangyang City, and Mr. Xiangyang Geng, engineering director of the Xiangyang Branch of Dongfeng Motor Corporation, visited China BAK's Shenzhen facility. China BAK's management team and their guests exchanged ideas on cost control, safety enhancement and battery management systems for the development of EV (Electric Vehicle) batteries applied in HEV (Hybrid Electric Vehicle) and EV. All parties expressed interest in strengthening future communication on EV battery development.

Xiangyang City is seeking to be China's new energy automobile industry demonstration base and the local government is encouraging development of the EV industry in cooperation with Dongfeng Motor, which is based in Xiangyang City.

"We are pleased to welcome representatives from Xiangyang City and Dongfeng Motor to China BAK. In June 2011, we shipped EV battery cells to power a set of pure electric vehicles manufactured by Dongfeng-Yulon Motor Sales Co., Ltd., a joint venture between Dengfeng Motor and Taiwanese automaker Yulon Motor, which were delivered to the public transportation authority of the city of Hangzhou. We have received positive feedback on the quality and performance of our products," commented Mr. Xiangqian Li, president and chief executive officer of China BAK. "We will continue to foster a long-term relationship and cooperation with Dongfeng Motor and Xiangyang City in the new energy automobile industry," added Mr. Li.

About Dongfeng Motor Corporation

Founded in 1969, Dongfeng Motor Corporation, or DFM, is one of the largest vehicle manufacturers in China. Its main businesses include passenger vehicles, commercial vehicles, engines, auto parts & components, and equipment. Over 40 years of development, DFM has established R&D and manufacturing facilities as well as extensive distribution and after-sales networks. DFM's major business facilities are located in Shiyan, Xiangyang, Wuhan and Guangzhou. In addition, several branches are in Shanghai, Liuzhou ( Guangxi Province), Yancheng ( Jiangsu Province), Nanchong ( Sichuan Province), Zhengzhou ( Henan Province), Urumchi (Xinjiang Province), Chaoyang ( Liaoning Province), Hangzhou ( Zhejiang Province), Kunming ( Yunnan Province), and other locations. For more information, please visit http://www.dfmc.com.cn.

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, PRC, 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, 2011, 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.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,744.11 -60.60 -0.36%
S&P 500 1,938.99 -7.17 -0.37%
NASDAQ 4,402.5560 -19.5290 -0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs