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MarketBeat
Mon, March 30, 2026 astatine 8:04 AM CDT 8 min read
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Q4 gross surged 131.8% YoY to $58.8 million, driven by a 524.2% leap successful LEV income to $12.92 cardinal and a 944.1% summation successful Hitrans raw‑material gross to $27.98 million.
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Ramp‑up costs for caller accumulation lines compressed margins and produced losses: Q4 gross borderline fell to 7.3% (from 13.1%), quarterly nett nonaccomplishment attributable to shareholders was $7.38 million, and full‑year operating nonaccomplishment was astir $18.44 cardinal amid higher R&D for next‑generation cells.
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The institution is rapidly expanding capacity—commissioning a 2.3 GWh 40135 enactment successful Dalian and adding 3.0 GWh of 32140 capableness successful Nanjing—while integrating LEV artillery packs (notably successful Africa with spouse Spiro) and readying a Malaysian installation to mitigate shrinking Chinese export taxation rebates.
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China BAK Battery (NASDAQ:CBAT) executives said fiscal 2025 marked a “definitive transitional period” arsenic the institution shifted its merchandise premix toward newer cylindrical compartment formats and expanded capacity, driving crisp fourth-quarter gross maturation portion pressuring margins during accumulation ramp-ups.
Chief Executive Officer Zhiguang Hu said consolidated nett gross successful the 4th fourth roseate 131.80% twelvemonth implicit twelvemonth to $58.80 million. Chief Financial Officer Jiewei Li added that the quarter’s gross was divided betwixt the artillery concern and the company’s Hitrans earthy materials segment.
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Li said artillery concern gross was astir $30.82 million, up 35.8% from the prior-year period, adjacent arsenic vigor retention assemblage gross declined 10.6% owed to the phase-out of bequest 26650 income from the Dalian facility. That diminution was “offset,” helium said, by “explosive growth” successful airy electrical conveyance (LEV) revenue, which “skyrocketed by 524.2% to $12.92 million” successful the 4th quarter.
Hitrans gross successful the 4th was $27.98 million, which Li described arsenic a 944.1% summation from Q4 2024, reflecting higher earthy worldly prices and downstream bid placement.
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While income roseate sharply, the institution reported profitability pressure. Li said gross nett successful Q4 2025 was astir $4.28 million, with gross borderline of 7.3% versus 13.1% successful Q4 2024.
He attributed the borderline compression to “transitional friction costs,” “suboptimal use,” and precocious fixed-cost absorption during the archetypal ramp-up of the caller Model 40135 enactment successful Dalian and Phase Two Model 32140 lines successful Nanjing. Operating nonaccomplishment for the 4th was astir $8.01 million, and nett nonaccomplishment attributable to shareholders was $7.38 million, helium said.
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