Cbak energy announces hitrans's revenues reach almost $100 million in first nine months of 2021 before acquisition closes, four times their own revenues in same period

Dalian, china, march 17, 2022 /prnewswire/ -- cbak energy technology, inc. (nasdaq: cbat) ("cbak energy," or the "company"), a leading lithium-ion battery manufacturer and electric energy solution provider in china, today announced financial highlights of zhejiang hitrans lithium battery technology co. ("hitrans"), a leading lithium-ion battery material supplier in china that cbak energy has completed an acquisition of 81.56% of its equity stake, for the first nine months of 2021. hitrans's revenues were $97.9 million in the first three quarters of 2021, roughly four times cbak energy's revenues in the same period.
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