CBAK Battery Won the Bidding for Haier Project and Expanded its Business in the Smart Home Market

DALIAN, China, Sept. 15, 2020 /PRNewswire/ -- CBAK Energy Technology, Inc. ("CBAK Energy", NASDAQ: CBAT), a world's leading lithium-ion battery manufacturer and electric energy solution provider, announced that its wholly owned subsidiary, Dalian CBAK Power Battery CO., LTD., ("CBAK Battery", or the "Company") has successfully entered into the supplier base of Haier Group and won the bidding for Haier project in the smart home market. CBAK Battery is going to help Haier build the Intelligent manufacturing information system, produce more favorable home appliance by consumers and the products fit their life style better.

"CBAK has many years of experience in Lithium ion battery, and we are exploring the home appliance sector. At the beginning of the design, we have already begun our full contact with our customer. We applied our experience in lithium ion battery from electrical design to structure design and outer look, giving them the best user experience. In the future we are going to conduct more point to point project development, devote ourselves fully into the smart home appliance field, which is a blue sea market," commented Mr. Yunfei Li, the CEO of CBAK Energy.

About CBAK Energy

CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a global leading high-tech enterprise engaged in the R&D, manufacture, and sales of high power lithium batteries. The application of its products and solutions covers such areas as electric vehicles, light electric vehicles, electric tools, transportation and energy storage. As the first lithium battery company in China to get listed in NASDAQ in January 2005, CBAK Energy possesses China's first production base specially engaged in power battery, and has its wholly-owned subsidiary, Dalian CBAK Energy Technology Co., Ltd, Dalian CBAK Power Battery Co., Ltd, and a large-scale R&D and production base in Dalian.

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

About Haier Group

Established at Qingdao, China in 1984, Haier Group is a world-leading provider of solutions to better life. Haier has topped Global Major Appliances Brand Rankings by Euromonitor International for 11 consecutive years. Its subsidiary Haier Smart Home is among the list of Global 500 and the World's Most Admired Companies of Fortune and the World's 2,000 Largest Public Companies of Forbes. Its new species COSMOPlat industrial Internet platform leads the top ten trans-industry and -field industrial Internet platforms of the Ministry of Industry and Information Technology and named a leader in Forrester's Industrial IoT Platform and designated by the three international standard organizations, including ISO, IEEE and IEC to lead the drafting of international standards for mass customization models...In the era of IoT, Haier's ecosystem brand is leading the world.

For more information, please visit www.haier.com.

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 CBAK Energy Technology, 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: the ability of the Company to meet its contract or agreement obligations; the uncertain market for the Company's lithium battery cells; business, macroeconomic, technological, regulatory, or other factors affecting the profitability of battery cells designed for energy storage; and risks related to CBAK Energy's business and risks related to operating in China. Please refer to CBAK Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as well as other SEC reports 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. CBAK Energy's actual results could differ materially from those contained in the forward-looking statements. CBAK Energy 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.

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SOURCE China BAK Battery, Inc.

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