We also expect that the
unit cost of cylindrical cells will be reduced accordingly in the coming
quarters with more efficient use of our automated cylindrical production line.
In addition, since April, we have raised the selling prices of some of our
products. We therefore remain confident that we will achieve our FY08 revenue
target of
$210 million,' commented Mr.
Xiangqian Li, CEO of China BAK.
Conference Call
China BAK will host a conference call at 9:00 p.m. ET on Monday, May 12,
2008 to discuss results for the second quarter of FY08 ended March 31, 2008.
Joining Xiangqian Li, China BAK's President and Chief Executive Officer on the
call will be Tony Shen, Chief Financial Officer and Dr. Huanyu Mao, Chief
Operating Officer and Chief Technology Officer. To participate in the
conference call, please dial the following number approximately fifteen
minutes prior to the scheduled conference call time: (888) 482-0024.
International callers should dial (617) 801-9702. The pass code for the call
is 64595429. If you are unable to participate in the call at this time, a
replay will be available from 11:00 p.m. ET on Monday, May 12, 2008 through
11:00 p.m. ET Tuesday, May 27, 2008. To access the replay, please dial
(888) 286-8010. International callers should dial (617) 801-6888. The
conference ID number for the replay is 31152369. The conference call will be
broadcast live over the Internet and can be accessed by all interested parties
on the China BAK website at http://www.bak.com.cn . To listen to the live
webcast, please go to the China BAK website at least fifteen minutes prior to
the start of the call to register, download and install any necessary audio
software. For those unable to participate during the live broadcast, shortly
after the call a replay will be made available on China BAK's website for 90
days.
About China BAK Battery Inc.
China BAK Battery Inc. is one of the largest manufacturers of lithium-
based battery cells in the world, as measured by production output. It
produces battery cells that are the principal component of rechargeable
batteries commonly used in cellular phones, notebook computers and portable
consumer electronics, such as digital media devices, portable media players,
portable audio players, portable gaming devices and PDAs (Personal Digital
Assistants). China BAK Battery, Inc.'s 1.9 million square foot facilities are
located in Shenzhen, PRC, and have been recently expanded to produce new
products. China BAK Battery, Inc. is the largest manufacturer of lithium-ion
battery cells for China's cellular phone replacement battery market.
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 Reports on Form 10-K for the fiscal years
ended September 30, 2006 and 2007, as well as China BAK's Quarterly Reports on
Form 10-Q for FY08, 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.
China BAK Battery Inc.