SHENZHEN, China, Nov. 21, 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 Dr.
Martha C. Agee 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
November 15, 2012.
Dr. Agee is a financial and legal expert with extensive business
experience. She is a frequent speaker on a broad range of
business and legal topics. Dr. Agee is currently a senior
lecturer of business law at Hankamer School of Business of
Baylor University where she teaches
courses in the Legal Environment of Business, International
Business Law, and Healthcare Law & Ethics for graduate and
undergraduate students.
"We are extremely pleased to welcome Dr. Agee to our Board.
Dr. Agee brings academic and professional US legal and
business experience and we are confident she 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 other SEC reports 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.