SHENZHEN, China, Sept. 10, 2012 /PRNewswire/ -- China BAK Battery,
Inc. ("China BAK", the "Company", or "we") (Nasdaq: CBAK), a
leading global manufacturer of lithium-based battery cells,
announced today that its board of directors has appointed Mr.
J. Christopher Paugh as an
independent director, a member of each of the Audit, Compensation
and Nominating and Corporate Governance Committees and Chair of the
Nominating and Corporate Governance Committee, effective
September 5, 2012.
Mr. Paugh is an accomplished and versatile attorney with
counseling and litigation experience in labor & employment,
professional liability, premises & products liability,
commercial, construction, personal injury, contract and insurance
coverage matters. Mr. Paugh is currently practicing law in
Houston, Texas.
"We are extremely pleased to welcome Mr. Paugh to our Board.
Mr. Paugh brings professional US legal experience and we are
confident he will help the Company sharpen its strategic direction,
corporate governance and other critical aspects of its business in
coming years." said Mr. Xiangqian
Li, Chairman and Chief Executive Officer of China BAK.
About China BAK Battery, Inc.
China BAK Battery, Inc. (NASDAQ: CBAK) is a leading global
manufacturer of lithium-based battery cells. The Company produces
battery cells that are the principal component of rechargeable
batteries commonly used in cellular phones, smartphones, notebook
computers, e-bikes, electric vehicles, power tools, uninterruptible
power supplies, and portable consumer electronics such as portable
media players, portable gaming devices, personal digital
assistants, or PDAs, camcorders, digital cameras, and Bluetooth
headsets. China BAK Battery, Inc.'s production facilities, located
in Shenzhen and Tianjin, PRC, cover over three million square
feet. For more information regarding China BAK Battery, Inc.,
please visit http://www.bak.com.cn.
SafeHarborStatement
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: the ability of the Company
to meet its contract obligations; the uncertain market for the
Company's high-power lithium and other battery cells; business,
macroeconomic, technological, regulatory, or other factors
affecting the profitability of battery cells designed for electric
vehicles; and risks related to China BAK's business and risks
related to operating in China.
Please refer to China BAK's Annual Report on Form 10-K for the
fiscal year ended September 30, 2011,
as well as China BAK's Quarterly Reports on Form 10-Q that have
been filed since the date of such annual report, 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.
SOURCE China BAK Battery, Inc.