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Home > News > Lithium Ion Charges up China BAK Battery

July 1st, 2008

Lithium Ion Charges up China BAK Battery

Abstract:
"CBAK's basic business is already strong. The world loves its electronic doodads and that trend is only going to get bigger. However, the electric hybrid vehicle market is a new one for CBAK ó and one that could shoot its profits to the moon.

"I knew before I arrived that CBAK was already working with General Motors on its A123 Systems batteries, a new generation lithium ion battery based on nanotechnology that can produce cars which get 150 MPG.

"But what I didn't know was that CBAK was also in talks with Japanese automakers. Between Chinese, American and Japanese automakers, CBAK should soon be making a mint from hybrid batteries ó on top of its bread-and-butter consumer electronics business.

"The Wall Street crowd expects CBAK to make 29 cent a share of profits in 2008 , which means CBAK is trading for roughly 17 times this year's earnings. CBAK does, however, have 69 cents per share of cold, hard cash sitting in the bank. If you back out that cash, CBAK is really only selling for 14 times earnings ó a bargain in my book."

Source:
istockanalyst.com

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