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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV