Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Research Coverage on Small and Micro-Cap Companies

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Equity Bottom-Up

CBAK Energy Technology  / Equity Bottom-Up

<ul><li>CBAK Energy Technology's core battery business continues to perform admirably in the face of a broader industry downturn.</li><li> There are several positive catalysts on the horizon for CBAK which are partially offset by the current industry challenges and the continued weakness of the HiTrans raw material business.</li><li> Both of the company's battery facilities are now operating profitably and the company is poised to materially increase capacity in 2025.</li></ul>

CBAK Energy Technology's core battery business continues to perform admirably in the face of a broader industry downturn. There are several positive catalysts on the horizon for CBAK which are partially offset by the current industry challenges and the continued weakness of the HiTrans raw material business. Both of the company's battery facilities are now operating profitably and the company is poised to materially increase capacity in 2025.

CBAT: Navigating choppy waters in the battery market. Adjusting our model and target to reflect these challenges.

<ul><li>CBAK Energy Technology continues to leverage its strong relationships with portable energy and home energy storage manufacturers to deliver solid results.</li><li> Pricing pressures remain in the broader battery cell market but CBAK's margins remained strong in Q2.</li><li>The company recorded another profitable quarter and we think investor confidence in the company should continue to grow despite quarter-to-quarter fluctuations.</li></ul>

CBAK Energy Technology continues to leverage its strong relationships with portable energy and home energy storage manufacturers to deliver solid results. Pricing pressures remain in the broader battery cell market but CBAK's margins remained strong in Q2.The company recorded another profitable quarter and we think investor confidence in the company should continue to grow despite quarter-to-quarter fluctuations.

CBAT: Weathering the challenges in the battery cell market. Maintaining a 2.50/share target.

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

<ul><li>The WTR Sustainable Index was down 1.7% W/W versus the S&amp;P 500 Index (up 1.6%), the Russell 2000 Index (down 1.0%), and the Nasdaq Index (up 3.5%).</li><li>Energy Technology (14.8% of the index) was down by 0.6%, while Industrial Climate and Ag Technology (59.7% of the index) was up by 0.3%, ClimateTech Mining was down 11.4%, and Advanced Transportation Solutions (19.9% of index) was down 6.6%.</li><li>Top 10 Performers: NRM, LICY, BRDS, KULR, NEOV, PSIX, AMSC, FLUX, EOSE, VLI</li></ul>

The WTR Sustainable Index was down 1.7% W/W versus the S&amp;P 500 Index (up 1.6%), the Russell 2000 Index (down 1.0%), and the Nasdaq Index (up 3.5%).Energy Technology (14.8% of the index) was down by 0.6%, while Industrial Climate and Ag Technology (59.7% of the index) was up by 0.3%, ClimateTech Mining was down 11.4%, and Advanced Transportation Solutions (19.9% of index) was down 6.6%.Top 10 Performers: NRM, LICY, BRDS, KULR, NEOV, PSIX, AMSC, FLUX, EOSE, VLI

Sustainable Investing Surveyor - Focus on CBAK Energy Technology, Inc. (CBAT)

<ul><li>CBAK Energy Technology is poised to benefit from a sharp uptick in portable energy systems and home energy storage.</li><li> Despite pricing pressures in the industry, CBAK's strong relationships with key customers and solid safety record enabled has enabled it to retain pricing power which boosted battery margins significantly in the first quarter as raw material continued to fall.</li><li> As investors begin to focus on the growing and profitable battery business, we believe there is substantial upside for the stock which is now trading at just over 3 times our 2024 EPS estimate.</li></ul>

CBAK Energy Technology is poised to benefit from a sharp uptick in portable energy systems and home energy storage. Despite pricing pressures in the industry, CBAK's strong relationships with key customers and solid safety record enabled has enabled it to retain pricing power which boosted battery margins significantly in the first quarter as raw material continued to fall. As investors begin to focus on the growing and profitable battery business, we believe there is substantial upside for the stock which is now trading at just over 3 times our 2024 EPS estimate.

CBAT: Reports strong margins and improved outlook for 2024. Increasing our EPS estimates and target valuation to 2.50.

United States

CBAK Energy Technology, Inc. manufactures and distributes a wide variety of standard and customized lithium ion rechargeable batteries. The Company supplies rechargeable lithium ion batteries for use in mobile phones and various other portable electronic applications, including handset telephones, laptop computers, digital cameras, and video.

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CBAK Energy Technology (CBAT US)

CBAT: Navigating choppy waters in the battery market. Adjusting our model and target to reflect these challenges.

CBAK Energy Technology's core battery business continues to perform admirably in the face of a broader industry downturn. There are several...

Zacks Small Cap Research

Sustainable Investing Surveyor - Focus on CBAK Energy Technology, Inc. (CBAT)

The WTR Sustainable Index was down 1.7% W/W versus the S&P 500 Index (up 1.6%), the Russell 2000 Index (down 1.0%), and the Nasdaq Index (up 3.5%).

Water Tower Research

CBAT: Reports strong margins and improved outlook for 2024. Increasing our EPS estimates and target valuation to 2.50.

CBAK Energy Technology is poised to benefit from a sharp uptick in portable energy systems and home energy storage. Despite pricing pressures in...

Zacks Small Cap Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CBAT: Navigating choppy waters in the battery market. Adjusting our model and target to reflect these challenges.

CBAK Energy Technology's core battery business continues to perform admirably in the face of a broader industry downturn. There are several...

Zacks Small Cap Research

CBAT: Weathering the challenges in the battery cell market. Maintaining a 2.50/share target.

CBAK Energy Technology continues to leverage its strong relationships with portable energy and home energy storage manufacturers to deliver solid...

Zacks Small Cap Research

Sustainable Investing Surveyor - Focus on CBAK Energy Technology, Inc. (CBAT)

The WTR Sustainable Index was down 1.7% W/W versus the S&P 500 Index (up 1.6%), the Russell 2000 Index (down 1.0%), and the Nasdaq Index (up 3.5%).

Water Tower Research

CBAT: Reports strong margins and improved outlook for 2024. Increasing our EPS estimates and target valuation to 2.50.

CBAK Energy Technology is poised to benefit from a sharp uptick in portable energy systems and home energy storage. Despite pricing pressures in...

Zacks Small Cap Research