SHENZHEN, China, Jan. 8, 2013 /PRNewswire/ -- China BAK Battery,
Inc. ("China BAK", the "Company", or "we") (Nasdaq: CBAK), a
leading global manufacturer of lithium-based battery cells, today
announced that Mr. Danny Pan has
been appointed as the Company's new chief financial officer,
treasurer and secretary, effective immediately.
Mr. Danny Pan is a Canadian
Chinese with over 15 years of financial advisory experience in
Hong Kong and Mainland
China. Prior to joining China BAK, Mr. Pan served from 2009 as
CFO and successfully completed the pre-IPO fund raising for Great
East Packaging Group, a leading PRC Coke supplier of PET bottles
and OEM bottled water. From 2010 to 2012, Mr. Pan served as
the financial adviser for Mr. Jiang Xiaosong, the major planner and
promoter of Boao Forum for Asia
and the Chairman of Chambow Group. From 2003 to 2008, Mr. Pan
held the Financial Controller position at a Sino-Japanese joint
venture in Sichuan province that
specialized in tea processing. Mr. Pan began his career with
PricewaterhouseCoopers with focus on IPO and MNC audit. In
1996, Mr. Pan earned his bachelor of Business Administration in
Accounting at Simon Fraser University
in Canada and became a member of
AICPA in 2001. Mr. Pan is fluent in English, Mandarin and
Cantonese.
"It is with great excitement that we welcome Danny Pan to our management team," said Mr.
Xiangqian Li, China BAK's President
and Chief Executive Officer. "Mr. Pan is a seasoned financial
executive who brings more than 15 years of corporate finance and
management experience. We look forward to drawing upon Mr. Pan's
vast operational and financial expertise as we continue to expand
our established leadership position in consumer electronic and
electric vehicle batteries in China."
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, smart phones, 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.
Safe Harbor
Statement
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. Please
refer to China BAK's Annual Report on Form 10-K for the fiscal year
ended September 30, 2012, 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.