Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
17 May 2022 - 10:02PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
12b-25
SEC
File Number 001-32898
CUSIP
Number 14986C 102
NOTIFICATION
OF LATE FILING
(Check
One): ☐ Form 10-K ☐ Form 11-K ☐ Form 20-F ☒ Form 10-Q ☐ Form 10-D ☐ Form N-CEN ☐ Form N-CSR
For
Period Ended: March 31, 2022
☐
Transition Report on Form 10-K
☐
Transition Report on Form 20-F
☐
Transition Report on Form 11-K
☐ Transition Report on Form 10-Q
For Transition Period Ended: _____________________________________
Nothing
in this form shall be construed to imply that the Commission has verified any information contained herein.
If
the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:
PART
I – REGISTRANT INFORMATION
CBAK
ENERGY TECHNOLOGY, INC.
Full
Name of Registrant
BAK
Industrial Park, Meigui Street, Huayuankou Economic Zone
Address
of Principal Executive Office (Street and Number)
Dalian,
China 116450
City,
State and Zip Code
PART
II – RULE 12-b 25 (b) AND (c)
If
the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b),
the following should be completed. (Check box if appropriate.)
| (a) | The
reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; |
☒ | (b) | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion
thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or
transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth
calendar day following the prescribed due date; and |
| (c) | The
accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
PART
III – NARRATIVE
State
below in reasonable detail the reasons why Form 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof
could not be filed within the prescribed time period. (Attach extra sheets if needed.)
The
registrant has not finalized its financial statements for the quarter ended March 31, 2022. As a result, the registrant is unable to
file its Form 10-Q within the prescribed time period without unreasonable effort or expense. The registrant anticipates that it will
file the Form 10-Q within the five-day grace period provided by Exchange Act Rule 12b-25.
PART
IV – OTHER INFORMATION
(1)
Name and telephone number of person to contact in regard to this notification
Xiangyu Pei |
|
86-411 |
|
39185985 |
(Name) |
|
(Area Code) |
|
(Telephone Number) |
(2)
Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s)
been filed? If the answer is no, identify report(s).
☒
Yes ☐ No
(3)
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject report or portion thereof?
☒ Yes ☐ No
If
so: attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why
a reasonable estimate of the results cannot be made.
As previously reported, the registrant completed
the acquisition (the “Acquisition”) of 81.56% of the equity interests of Zhejiang Hitrans Lithium Battery Technology, a leading
developer and manufacturer of ternary precursor and cathode materials in China (“Hitrans”),
in November 2021. Prior to the Acquisition, the registrant was primarily engaged in the production and sale of new energy high power
lithium batteries and had only one reporting segment. Following the Acquisition, the registrant has added a second reporting segment
(i.e. manufacture and sale of materials used in high-power lithium battery cells) and a significant new revenue stream from production
and sale of lithium battery materials. As reported in the registrant’s current report on Form 8-K filed on March 17, 2022, Hitrans
recognized net revenues of approximately $84.5 million and $116.1 million for the years ended December 31, 2020 and 2019, respectively,
and net revenues of approximately $97.9 million for the nine months ended September 30, 2021. Hitrans’s operations were included
in the registrant’s financial statements for the quarter ended March 31, 2022. Accordingly, the amounts of net revenues, net income,
assets, liabilities and shareholders’ equity will differ significantly from the results of operations and financial condition reported
for the quarter ended March 31, 2021 in the registrant’s quarterly report on Form 10-Q filed on May 17, 2021. The registrant is
unable to provide an accurate quantitative estimate of the results for the quarter ended March 31, 2022, as it has not yet completed
the information necessary to provide such an estimate. However, the registrant expects to file its quarterly report on Form 10-Q with
such results within the prescribed extension period.
|
CBAK ENERGY TECHNOLOGY, INC. |
|
|
(Name
of Registrant as Specified in Charter) |
|
has
caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.
Date: May 17, 2022 |
By: |
/s/ Xiangyu Pei |
|
|
Xiangyu Pei |
|
|
Interim Chief Financial Officer |
3
CBAK Energy Technology (NASDAQ:CBAT)
Historical Stock Chart
From Apr 2024 to May 2024
CBAK Energy Technology (NASDAQ:CBAT)
Historical Stock Chart
From May 2023 to May 2024