CBAK Energy Technology Announces CEO Transition: Yunfei Li Resigns, Zhiguang Hu Appointed as Successor

CBAK Energy Technology, Inc. (NASDAQ: CBAT) recently disclosed a notable change in its executive leadership. Effective October 24, 2024, Mr. Yunfei Li has tendered his resignation as the Chief Executive Officer and President of the company. The decision behind Mr. Li’s resignation was attributed to personal reasons and his planned retirement, not stemming from any disagreements concerning the company’s operations, policies, or practices.

Concurrently, on the same date, the Board of Directors at CBAK Energy Technology has appointed Mr. Zhiguang Hu as the incoming Chief Executive Officer and President of the organization. Mr. Hu, aged 42, brings with him extensive experience within the company, having been a part of the team since 2004. Notably, he has played a pivotal role in the sales and marketing domain, significantly contributing to the revenue growth of the company’s battery business in recent years.

Prior to his current appointment, Mr. Hu held the position of Deputy General Manager in the Sales and Marketing Department at CBAK Energy Technology since June 2023. His career trajectory within the company includes notable roles such as Director of Sales and Marketing at the subsidiary, Dalian CBAK Power Battery Co., Ltd., and various managerial positions at former subsidiaries of the company, showcasing his consistent dedication and expertise in the industry. Mr. Hu holds a degree in Business Administration from Lanzhou Business College (now Lanzhou University of Finance and Economics), which he obtained in July 2004.

As part of his new role, Mr. Zhiguang Hu is set to receive an annual salary of RMB 308,230.33 (approximately $43,301.72) from CBAK Energy Technology. Importantly, there is no familial relationship between Mr. Hu and any existing directors or executive officers of the company. Additionally, there are no undisclosed arrangements or transactions necessitating disclosure under Item 404(a) of Regulation S-K.

This transition marks a significant change in the leadership structure at CBAK Energy Technology, emphasizing a strategic shift in the company’s management. The company aims to leverage Mr. Hu’s extensive experience and industry knowledge to further drive growth and innovation within the organization.

The current Chief Financial Officer, Jiewei Li, signed off on behalf of CBAK Energy Technology, Inc., authenticating the regulatory filing related to the executive transition, as required by the Securities Exchange Act of 1934.

This disclosure comes as part of the company’s commitment to maintaining transparency and ensuring adherence to regulatory requirements. Investors and stakeholders are likely to follow this development closely to gauge the impact of the leadership change on the company’s future strategic direction and performance.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read CBAK Energy Technology’s 8K filing here.

CBAK Energy Technology Company Profile

CBAK Energy Technology, Inc, together with its subsidiaries, manufacture, commercialization, and distribution of lithium ion high power rechargeable batteries in Mainland China, the United States, Europe, and internationally. The company operates in two segments, CBAK and Hitrans. Its lithium batteries are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles, such as electric bicycles, electric motors, electric tricycles, and smaller-sized electric cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.