<SEC-DOCUMENT>0001204459-12-000977.txt : 20120507
<SEC-HEADER>0001204459-12-000977.hdr.sgml : 20120507
<ACCEPTANCE-DATETIME>20120507072216
ACCESSION NUMBER:		0001204459-12-000977
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20120507
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120507
DATE AS OF CHANGE:		20120507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA BAK BATTERY INC
		CENTRAL INDEX KEY:			0001117171
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				880442833
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32898
		FILM NUMBER:		12815915

	BUSINESS ADDRESS:	
		STREET 1:		BAK INDUSTRIAL PARK, NO. 1 BAK STREET
		STREET 2:		KUICHONG TOWN, LONGGANG DISTRICT
		CITY:			SHENZHEN PEOPLE
		STATE:			F4
		ZIP:			518119
		BUSINESS PHONE:		86-755-8977-0093

	MAIL ADDRESS:	
		STREET 1:		BAK INDUSTRIAL PARK, NO. 1 BAK STREET
		STREET 2:		KUICHONG TOWN, LONGGANG DISTRICT
		CITY:			SHENZHEN PEOPLE
		STATE:			F4
		ZIP:			518119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEDINA COFFEE INC
		DATE OF NAME CHANGE:	20000626
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>



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   <TITLE>China BAK Battery, Inc.: Form 8-K - Filed by newsfilecorp.com</TITLE>

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<BODY style="font-size:10pt;">

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<P align=center><B><FONT size=5>UNITED STATES </FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION</FONT><BR></B><B>WASHINGTON, D.C.
20549</B><BR></P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B><BR><B>CURRENT
REPORT</B><BR></P>
<P align=center><B>PURSUANT TO SECTION 13 OR 15(d) <BR>OF THE SECURITIES
EXCHANGE ACT OF 1934</B></P>
<P align=center><B>Date of Report (Date of Earliest Event Reported): May 7,
2012</B></P>
<P align=center><FONT size=5><STRONG>CHINA BAK BATTERY,
INC.<BR></STRONG></FONT><FONT size=2><EM>(Exact name of registrant as specified
in its charter) </EM></FONT></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B>Nevada </B></TD>
    <TD align=center width="33%"><B>001-32898 </B></TD>
    <TD align=center width="33%"><B>86-0442833 </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><I>(State or other jurisdiction </I></TD>
    <TD align=center width="33%"><I>(Commission File No.) </I></TD>
    <TD align=center width="33%"><I>(IRS Employer </I></TD></TR>
  <TR vAlign=top>
    <TD align=center><I>of incorporation) </I></TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=center width="33%"><I>Identification No.)
</I></TD></TR></TABLE>
<P align=center><B>BAK Industrial Park, No. 1 BAK Street <BR>Kuichong Town,
Longgang District <BR>Shenzhen, 518119 <BR>People&#146;s Republic of China</B><I><br>
(Address, including zip code, of principal executive
offices)</I></P>
<P align=center><B>(86-755) 8977-0093</B><BR><I>(Registrant&#146;s telephone number,
including area code)</I><BR></P>
<P align=center><B>Not applicable<BR></B><I>(Former name or former address, if
changed since last report)</I></P>
<P align=justify>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below): </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">[ ] </TD>
    <TD>
      <P align=justify>Written communications pursuant to Rule 425 under the
      Securities Act (17 CFR 230.425)</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">[ ] </TD>
    <TD>
      <P align=justify>Soliciting material pursuant to Rule 14a-12 under the
      Exchange Act (17 CFR 240.14a-12)</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">[ ] </TD>
    <TD>
      <P align=justify>Pre-commencement communications pursuant to Rule 14d-2(b)
      under the Exchange Act (17 CFR 240.14d-2(b))</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">[ ] </TD>
    <TD>
      <P align=justify>Pre-commencement communications pursuant to Rule 13e-4(c)
      under the Exchange Act (17 CFR 240.13e-4(c))</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify><B>Item 2.02 Results of Operations and Financial Condition.
</B></P>
<P align=justify style="text-indent: 5%">On May 7, 2012, China BAK Battery, Inc. (the &#147;Company&#148;) issued
a press release announcing its financial results for the fiscal quarter ended
March 31, 2012. A copy of the press release is furnished as Exhibit 99.1 hereto.
</P>
<P align=justify style="text-indent: 5%">The press release furnished as Exhibit 99.1 hereto contains
certain statements that may include &#147;forward-looking statements&#148; within the
meaning of Section 27A of the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), and Section 21E of the Securities Exchange Act of 1934, as
amended (the &#147;Exchange Act&#148;). All statements, other than statements of
historical fact, are &#147;forward-looking statements,&#148; including statements
regarding the Company&#146;s business strategy, plans and objective and statements of
non-historical information. These forward-looking statements are often
identified by the use of forward-looking terminology such as &#147;should,&#148;
&#147;believes,&#148; &#147;expects,&#148; &#147;anticipates&#148; or similar expressions, and involve known
and unknown risks and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are reasonable, they
involve assumptions, risks and uncertainties, and these expectations may prove
to be incorrect. You should not place undue reliance on these forward-looking
statements, which speak only as of their respective dates. The Company&#146;s actual
results could differ materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those discussed in the
Company&#146;s periodic reports that are filed with and available from the Securities
and Exchange Commission. All forward-looking statements attributable to the
Company or persons acting on its behalf are expressly qualified in their
entirety by these factors. Other than as required under the securities laws, the
Company does not assume a duty to update these forward-looking statements. </P>
<P align=justify style="text-indent: 5%">In accordance with General Instruction B.2 of Form 8-K, the
information in this Report, including Exhibit 99.1 hereto, shall not be deemed
to be &#147;filed&#148; for purposes of Section 18 of the Exchange Act, or otherwise
subject to the liabilities of that section, and shall not be incorporated by
reference into any registration statement or other document filed under the
Securities Act or the Exchange Act, except as shall be expressly set forth by
specific reference in such filing. </P>
<P align=justify><B>Item 9.01 Financial Statements and Exhibits.</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
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  <TR vAlign=top>
    <TD align=left ><B>(d) Exhibits</B> </TD>
    <TD align=left width="92%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="92%" style="border-bottom-style: none; border-bottom-width: medium">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left style="border-right-style: none; border-right-width: medium" ><U>Exhibit</U> </TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=left
      width="92%"><u>Description </u> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee style="border-right-style: none; border-right-width: medium" >
    <a href="exhibit99-1.htm">99.1 </a> </TD>
    <TD align=left width="92%" bgColor=#eeeeee style="border-style: none; border-width: medium">
    <a href="exhibit99-1.htm">Press Release dated May 7, 2012 </a>
    </TD></TR></TABLE>
<P align=center>2</P>
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<P align=center><B>SIGN ATURE</B><BR></P>
<P align=justify>Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.</P>
<TABLE
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  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="50%" colSpan=2><B>CHINA BAK BATTERY, INC.</B> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >Date: May 7, 2012 </TD>
    <TD align=left width="5%" >By: </TD>
    <TD align=left width="45%"><U>/s/ Ke Marcus
      Cui&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </U>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="45%">Ke Marcus Cui </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="45%">Chief Financial Officer </TD></TR></TABLE>
<P align=center>&nbsp;</P>
<P align=center>&nbsp;</P>
<P align=center>&nbsp;</P>
<P align=center>3</P>
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  <TR vAlign=top>
    <TD align=center colSpan=2><B>EXHIBITS</B> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="92%">&nbsp; </TD></TR>
  </TABLE>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left style="border-right-style: none; border-right-width: medium" ><U>Exhibit</U> </TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=left
      width="92%"><u>Description </u> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee style="border-right-style: none; border-right-width: medium" >
    <a href="exhibit99-1.htm">99.1 </a> </TD>
    <TD align=left width="92%" bgColor=#eeeeee style="border-style: none; border-width: medium">
    <a href="exhibit99-1.htm">Press Release dated May 7, 2012 </a>
    </TD></TR></TABLE>
<P align=center>&nbsp;</P>
<P align=center>&nbsp;</P>
<P align=center>4</P>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<!DOCTYPE HTML PUBLIC "Ex._99.1_--_2012-5-7_CBAK-Earnings_PR_FINAL.pdf">


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<img border="0" src="exhibi1.jpg" width="734" height="91"></p>
<p align="center">
<b><font size="3">PRESS RELEASE</font></b>
<BR>
</p>
<P align="center">
<B><font size="3">China BAK Reports Second Quarter Fiscal Year 2012 Financial Results</font></B></P>
<P align="justify">
<B>Shenzhen, China &#150; May 7, 2012 </B>&#150; China BAK Battery, Inc. (&#147;China BAK&#148;, the &#147;Company&#148;, or &#147;we&#148;) (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, today announced its financial
results for the second quarter of fiscal year 2012 ended March 31, 2012 (&#147;Q2 2012&#148;).   </P>
<P align="justify">
<B>Second Quarter Fiscal Year 2012 Highlights</B><BR>
</P>
<UL style="text-align:justify;">
<LI>
Revenue from high-power lithium-ion battery cells reached a record &#36;2.3 million, an increase of 197.3% year-over-year</LI>
<LI>
In March 2012, China BAK&#146;s polymer cells passed ZTE Corporation&#146;s certification process and will supply polymer cells to be used in smartphones</LI>
<LI>
China BAK reported another quarter of positive cash flow of &#36;9.1 million from operating activities</LI>
</UL>
<P align="justify">
&#147;Historically, our second fiscal quarter is a slow quarter partly due to the Chinese New Year holidays, which significantly reduce overall sales volume. In addition, the continued weakness in the global economy and the slowdown in the
replacement market also impacted our business. At the same time, we are pleased with the growth in revenue from our high-power lithium battery cells, which are supplied to EV customers,&#148; commented Mr. Xiangqian Li, Chairman, President and CEO
of China BAK.  </P>
<P align="justify">
<B>Second Quarter Fiscal Year 2012 Results</B><BR>
</P>
<P align="justify">
Net revenue for the three months ended March 31, 2012, decreased 54.3% to &#36;32.8 million, from &#36;71.8 million in the previous quarter and decreased 29.8% year-over-year from &#36;46.7 million in the second quarter of fiscal 2011. The decline
in revenue was largely due to reduced demand for the Company&#146;s prismatic cells and cylindrical cells. </P>
<P align="justify">
Revenues from prismatic products, including aluminum-case cells and battery packs, which are used in mobile phones and certain personal electronic devices, were &#36;20.5 million, down 62.8% from &#36;55.1 million in the previous quarter and down
29.5% from &#36;29.0 million in the second quarter of fiscal 2011.  </P>
<P align="justify">
Revenues from cylindrical cells, used in notebook computers, certain electronic devices and electric vehicles, were &#36;7.6 million, down 41.3% from &#36;13.0 million in the previous quarter and down 49.9% from &#36;15.2 million in the second
quarter of fiscal 2011.  </P>
<P align="justify">
Revenues from lithium polymer cells, used in personal electronic devices such as PDAs, MP3 players and Bluetooth devices, were &#36;2.3 million, down 11.0% from &#36;2.6 million in the previous quarter and up 39.7% from &#36;1.7 million in the
second quarter of fiscal 2011. </P>
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    <TD align=left>China BAK Battery, Inc. </TD>
    <TD align=right width="50%">Page 1 of 7 </TD></TR></TABLE>

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<P align="justify">
Revenues from high-power lithium battery cells, used in electric bicycles, other electric vehicles, power tools, and uninterruptible power supplies, and other applications, were &#36;2.3 million, up 121% from &#36;1.1 million in the previous quarter
and up 197.3% from &#36;0.8 million in the second quarter of fiscal 2011. </P>
<P align="justify">
Gross loss for the second quarter of fiscal year 2012 was &#36;3.9 million, compared to gross profit of &#36;14.0 million in the previous quarter and gross profit of &#36;4.4 million in the second quarter of fiscal 2011. The weakness in gross profit
was largely due to a decrease in prismatic and cylindrical sales volume during the three months ended March 31, 2012, and a significant write down of obsolete inventory over the three months ended March 31, 2012. </P>
<P align="justify">
Operating expenses totaled &#36;10.7 million, or 32.7% of revenue, in the second quarter, down 8.4% from &#36;11.7 million, or 16.3% of revenue, in the previous quarter, and up 70.6% from &#36;6.3 million, or 13.4% of revenue, in the second quarter
of fiscal 2011. Operating expenses in the second quarter of fiscal 2012 include no impairment charge, compared with an impairment charge of &#36;2.7 million in the previous quarter, and no impairment charge in the second quarter of fiscal 2011.
Research and development expenses were &#36;1.8 million, or 5.6% of revenue, up 48.6% from &#36;1.2 million, or 1.7% of revenue in the previous quarter, and down 4.3% from &#36;1.9 million, or 4.1% of revenue, in the second quarter of fiscal 2011.
Sales and marketing expenses were &#36;1.8 million, or 5.3% of revenue, down 10.5% from &#36;2.0 million, or 2.7% of revenue, in the previous quarter, and down 20.3% from &#36;2.2 million, or 4.7% of revenue, in the second quarter of fiscal 2011.
General and administrative (G&amp;A) expenses were &#36;7.1 million, or 21.7% of revenue, up 22.9% from &#36;5.8 million, or 8.1% of revenue, in the previous quarter, and significantly up from &#36;2.1 million, or 4.6% of revenue, in the second
quarter of fiscal 2011. The significant increase in G&amp;A expenses year-over-year was mainly due to increase in provision for bad debt expenses following an assessment of account collectability in the second quarter of 2012. </P>
<P align="justify">
Operating loss was &#36;14.6 million compared to operating income of &#36;2.3 million in the previous quarter and operating loss of &#36;1.8 million in the second quarter of fiscal 2011. </P>
<P align="justify">
Net loss was &#36;15.6 million, or diluted loss per share of &#36;0.25, in the second quarter of fiscal 2012 compared to net loss of &#36;1.8 million, or diluted loss per share of &#36;0.03, in the previous quarter and net loss of &#36;4.1 million,
or diluted loss per share of &#36;0.06, in the second quarter of fiscal 2011. </P>
<P align="justify">
<B>Financial Condition</B><BR>
</P>
<P align="justify">
On March 31, 2012, China BAK had &#36;16.7 million in cash and cash equivalents. For the second quarter of fiscal year 2012, Days Sales Outstanding (DSO) increased to 275 days from 124 days last quarter and Days Sales of Inventory increased to 144
days from 96 days last quarter. Short-term bank loans and long-term bank loans totaled &#36;164.5 million as compared to &#36;178.2 million on December 31, 2011. Shareholders&#146; equity totaled &#36;120.2 million. China BAK had &#36;47.4 million
available for borrowing under its credit facilities. The Company generated &#36;9.1 million from cash flow from operating activities in the second quarter of fiscal 2012.
<br>
&nbsp;</P>
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    <TD align=right width="50%">Page 2 of 7 </TD></TR></TABLE>

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<P align="justify">
<B>Business Outlook</B><BR>
</P>
<P align="justify">
&#147;Over the next few quarters, we expect our earnings performance to improve as we continue to transition from the replacement market to the OEM market. We have cooperative relationships with major tier 1 OEM customers in China and anticipate our
revenues will recover as we expand in the OEM market. We were pleased that our high-power lithium ion battery cells reached record quarterly revenues nearly 200% higher than in the same quarter last year, and we expect that our cooperative
relationship with Chery Automobile, among others, will contribute to greater earnings in this sector.  We
also expect our ongoing upgrades to our polymer cell production lines will further our transition toward servicing and generating profits from China&#146;s growing smartphone and tablet computer battery cell markets,&#148; commented Mr. Xiangqian
Li, Chairman, President and CEO of China BAK. </P>
<P align="justify">
<B>Conference Call</B><BR>
</P>
<P align="justify">
China BAK will host a conference call at 8:00 a.m. ET on Monday, May 7, 2012 to discuss results for the second quarter of fiscal year 2012 ended March 31, 2012. To participate in the conference call, please dial the following number approximately
fifteen minutes prior to the scheduled conference call time: 877-847-0047 or 212-444-0113. International callers should dial 852-3006-8101. The pass code for the call is 673-355. If you are unable to participate in the call at this time, a replay
will be available from 11:00 a.m. ET on Monday, May 7, 2012 through 11:00 a.m. ET, Monday, May 21, 2012. To access the replay, please dial 866-572-7808. International callers should dial (852) 3012-8000. The pass code for the replay is 673-355. The
conference call will be broadcast live over the Internet and can be accessed by all interested parties on the China BAK website at http://www.bak.com.cn/webcast.aspx. To listen to the live webcast, please go to China BAK&#146;s website at least
fifteen minutes prior to the start of the call to register, download and install any necessary audio software. For those unable to participate during the live broadcast, after the call a replay will be available on China BAK&#146;s website for a
period of one year. </P>
<P align="justify">
<B>About China BAK Battery Inc.</B><BR>
</P>
<P align="justify">
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.&#146;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
<font color="#0000FF">http://www.bak.com.cn. </font> <br>
&nbsp;</P>
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    <TD align=right width="50%">Page 3 of 7 </TD></TR></TABLE>

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<P align="justify">
<B>Safe Harbor Statement</B><BR>
</P>
<P align="justify">
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 financial outlook of the Company; the ability of the Company to secure future opportunities in the market by leveraging its R&amp;D
capabilities and reputation; the ability of the Company to develop new products and new markets successfully; the general ability of the Company to achieve its commercial objectives, including the Company&#146;s plan to sustain growth while creating
shareholder value; the business strategy, plans and objectives of the Company and its subsidiaries; 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. </P>
<P align=justify><B>For more information, please contact:</B><BR>China BAK
Battery, Inc. <BR>Mr. Ke Marcus Cui <BR>Chief Financial Officer <BR>Tel:
86-755-61886818 ext 6856 <BR>E-mail: <font color="#0000FF">ir@bak.com.cn </font> <BR></P>
<P align=justify>CCG Investor Relations <BR>Mr. Roger Ellis <BR>Partner &amp;
SVP for Market Intelligence<BR>Tel: 310-954-1332 <BR>E-mail:
<font color="#0000FF">roger.ellis@ccgir.com </font> <BR></P>
<P align=justify><B><I>-Financial Tables Follow-</I></B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>China BAK Battery, Inc. </TD>
    <TD align=right width="50%">Page 4 of 7 </TD></TR></TABLE>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

<!--$$/page=--><A name=page_4></A>
<P align=center><B>China BAK Battery, Inc. and Subsidiaries <BR></B><B>Condensed
Interim Consolidated Statements of Operations and Comprehensive Loss <BR>For the
Three Months Ended March 31, 2012, December 31, 2011 and March 31, 2011
<BR>(Amounts in thousands, except per share data) </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="36%"
    colSpan=7><B>Three Months Ended</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=center width="10%">&nbsp; </TD>
    <TD align=center width="2%" >&nbsp;</TD>
    <TD align=center width="1%" >&nbsp;</TD>
    <TD align=center width="10%"><B>December 31,</B> </TD>
    <TD align=center width="2%" >&nbsp;</TD>
    <TD align=center width="1%" >&nbsp;</TD>
    <TD align=center width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%"><B>March 31, 2012</B> </TD>
    <TD align=center width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%"><B>2011</B> </TD>
    <TD align=center width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%"><B>March 31, 2011</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=center width="10%">(Unaudited) </TD>
    <TD align=center width="2%" >&nbsp;</TD>
    <TD align=center width="1%" >&nbsp;</TD>
    <TD align=center width="10%">(Unaudited) </TD>
    <TD align=center width="2%" >&nbsp;</TD>
    <TD align=center width="1%" >&nbsp;</TD>
    <TD align=center width="10%">(Unaudited) </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Net Revenues </TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="10%" bgColor=#e6efff>&nbsp;32,781 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="10%" bgColor=#e6efff>&nbsp;71,755 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="10%" bgColor=#e6efff>&nbsp;46,711 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Cost of revenues </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">(36,651</TD>
    <TD align=left width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">(57,724</TD>
    <TD align=left width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">(42,262</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Gross (loss) / profit </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>(3,870</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>14,031 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>4,449 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Operating expenses: </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Research and development expenses </TD>
    <TD align=left width="1%" ></TD>
    <TD align=right width="10%">(1,848</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" ></TD>
    <TD align=right width="10%">(1,244</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" ></TD>
    <TD align=right width="10%">(1,933</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Sales and marketing expenses </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(1,753</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(1,958</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(2,199</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>General and administrative expenses </TD>
    <TD align=left width="1%" ></TD>
    <TD align=right width="10%">(7,112</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" ></TD>
    <TD align=right width="10%">(5,789</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" ></TD>
    <TD align=right width="10%">(2,150</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Impairment charge </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>- </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>(2,708</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Total operating expenses </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">(10,713</TD>
    <TD align=left width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">(11,699</TD>
    <TD align=left width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
    width="10%">(6,282</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >) </TD></TR>
  <TR>
    <TD bgColor=#e6efff>&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Operating (loss) / income </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(14,583</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">2,332 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(1,833</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR>
    <TD bgColor=#e6efff>&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Finance costs, net </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(2,634</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(2,883</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(2,512</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Government grant income </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>1,185 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>825 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>31 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Other income </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">412
    </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">20
</TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">49
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>(Loss) / income before income taxes </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(15,620</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>294 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(4,265</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Income tax (expenses) / benefits </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>(8</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>(2,114</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>182 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Net loss </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="10%">&nbsp;(15,628</TD>
    <TD align=left width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="10%">&nbsp;(1,820</TD>
    <TD align=left width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="10%">&nbsp;(4,083</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="2%"
    >) </TD></TR>
  <tr>
    <TD align=left bgColor=#e6efff>Other comprehensive income / (loss) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
  </tr>
  <tr>
    <TD align=left>&nbsp;- Foreign currency translation </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
  </tr>
  <tr>
    <TD align=left bgColor=#e6efff>adjustment </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>68 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>1,791 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>1,228 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
  </tr>
  <tr>
    <TD align=left>Comprehensive loss </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="10%">(15,560</TD>
    <TD align=left width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%"
    >$ </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="10%">(29
      ) </TD>
    <TD align=left width="2%" ></TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%"
    >$ </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="10%">(2,855</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="2%"
    >)</TD>
  </tr>
  <tr>
    <TD bgColor=#e6efff>&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
  </tr>
  <tr>
    <TD align=left>Net loss per share: </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
  </tr>
  <tr>
    <TD align=left bgColor=#e6efff>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Basic </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>&nbsp;(0.25</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>&nbsp;(0.03</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>&nbsp;(0.06</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD>
  </tr>
  <tr>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Diluted </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">&nbsp;(0.25</TD>
    <TD align=left width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">&nbsp;(0.03</TD>
    <TD align=left width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">&nbsp;(0.06</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >) </TD>
  </tr>
  <tr>
    <TD bgColor=#e6efff>&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
  </tr>
  <tr>
    <TD align=left>Weighted average shares outstanding: </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
  </tr>
  <tr>
    <TD align=left bgColor=#e6efff>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Basic </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>63,095 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>63,095 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>62,895 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
  </tr>
  <tr>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Diluted </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">63,095 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">63,095 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">62,895 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
  </tr>
</TABLE><br>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>China BAK Battery, Inc. </TD>
    <TD align=right width="50%">Page 5 of 7 </TD></TR></TABLE>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_5></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 height="750">

  <TR vAlign=bottom>
    <TD align=center colSpan=6 height="15"><B>China BAK Battery, Inc. and
      Subsidiaries</B>&nbsp; </TD>
    <TD align=center width="2%" height="15" ></TD></TR>
  <TR vAlign=bottom>
    <TD align=center colSpan=6 height="15"><B>Condensed Interim Consolidated Balance
      Sheets</B>&nbsp; </TD>
    <TD align=center width="2%" height="15" ></TD></TR>
  <TR vAlign=bottom>
    <TD align=center colSpan=6 height="15"><B>As of March 31, 2012 and September 30,
      2011</B>&nbsp; </TD>
    <TD align=center width="2%" height="15" ></TD></TR>
  <TR vAlign=bottom>
    <TD align=center colSpan=6 height="15"><B>(Amounts in thousands)</B>&nbsp; </TD>
    <TD align=center width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=center height="15">&nbsp; </TD>
    <TD align=center width="1%" height="15" ></TD>
    <TD align=center width="12%" height="15"><B>March 31,</B> </TD>
    <TD align=center width="2%" height="15" ></TD>
    <TD align=center width="1%" height="15" ></TD>
    <TD align=center width="12%" height="15"><B>September 30,</B> </TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=center height="16">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="1%" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="12%" height="16"><B>2012</B> </TD>
    <TD align=center width="2%" height="16" ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="1%" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="12%" height="16"><B>2011</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" height="16"
    ></TD></TR>
  <TR vAlign=top>
    <TD align=center height="15">&nbsp; </TD>
    <TD align=center width="1%" height="15" ></TD>
    <TD align=center width="12%" height="15"><B>(Unaudited)</B> </TD>
    <TD align=center width="2%" height="15" ></TD>
    <TD align=center width="1%" height="15" ></TD>
    <TD align=center width="12%" height="15"><B>(Audited)</B> </TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15"><B>Assets</B> </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff height="15">&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff height="15">&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15"><I>Current assets</I> </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=left width="12%" height="15">&nbsp; </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=left width="12%" height="15">&nbsp; </TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15">&nbsp; &nbsp; &nbsp;Cash and cash
      equivalents </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">$</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">&nbsp;16,679 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">$</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">&nbsp;24,858 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15">&nbsp; &nbsp; &nbsp;Pledged deposits </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">2,337 </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">5,726 </TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15">&nbsp; &nbsp; &nbsp;Trade accounts
      receivable, net </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">100,339 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">88,261 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15">&nbsp; &nbsp; &nbsp;Inventories, net </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">58,786 </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">67,141 </TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15">&nbsp; &nbsp; &nbsp;Prepayments and other
      receivables </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">11,670 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">5,243 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="16">&nbsp; &nbsp; &nbsp;Deferred tax assets, net </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%" height="16">3,992
    </TD>
    <TD align=left width="2%" height="16" ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%" height="16">6,000
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" height="16"
    ></TD></TR>
  <TR vAlign=top>
    <TD align=left
      bgColor=#e6efff height="15">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      Total current assets </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">193,803 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">197,229 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR>
    <TD height="15">&nbsp; </TD>
    <TD width="1%" height="15" ></TD>
    <TD width="12%" height="15">&nbsp; </TD>
    <TD width="2%" height="15" ></TD>
    <TD width="1%" height="15" ></TD>
    <TD width="12%" height="15">&nbsp; </TD>
    <TD width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15">&nbsp; &nbsp; &nbsp;Property, plant and
      equipment, net </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">240,618 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">243,238 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15">&nbsp; &nbsp; &nbsp;Lease prepayments, net </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">32,648 </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">32,731 </TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15">&nbsp; &nbsp; &nbsp;Intangible assets, net
    </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">813 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">295 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="16">&nbsp; &nbsp; &nbsp;Deferred tax assets, net </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%" height="16">1,734
    </TD>
    <TD align=left width="2%" height="16" ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%" height="16">1,749
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" height="16"
    ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="16">Total assets </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff height="16">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff height="16">&nbsp;469,616 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff height="16">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff height="16">&nbsp;475,242 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff height="16">&nbsp;</TD></TR>
  <TR>
    <TD height="15">&nbsp; </TD>
    <TD width="1%" height="15" ></TD>
    <TD width="12%" height="15">&nbsp; </TD>
    <TD width="2%" height="15" ></TD>
    <TD width="1%" height="15" ></TD>
    <TD width="12%" height="15">&nbsp; </TD>
    <TD width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15"><B>Liabilities</B> </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff height="15">&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff height="15">&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15"><I>Current liabilities</I> </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=left width="12%" height="15">&nbsp; </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=left width="12%" height="15">&nbsp; </TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15">&nbsp; &nbsp; &nbsp;Short-term bank loans
    </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">$</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">&nbsp;140,883 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">$</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">&nbsp;139,706 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15">&nbsp; &nbsp; &nbsp;Current maturities of long-term bank
      loans </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">- </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">23,495 </TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15">&nbsp; &nbsp; &nbsp;Accounts and bills
      payable </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">124,703 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">118,423 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="16">&nbsp; &nbsp; &nbsp;Accrued expenses and other payables </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%" height="16">38,349 </TD>
    <TD align=left width="2%" height="16" ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%" height="16">20,976 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" height="16"
    ></TD></TR>
  <TR vAlign=top>
    <TD align=left
      bgColor=#e6efff height="15">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
      current liabilities </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">303,935 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">302,600 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR>
    <TD height="15">&nbsp; </TD>
    <TD width="1%" height="15" ></TD>
    <TD width="12%" height="15">&nbsp; </TD>
    <TD width="2%" height="15" ></TD>
    <TD width="1%" height="15" ></TD>
    <TD width="12%" height="15">&nbsp; </TD>
    <TD width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15">&nbsp; &nbsp; &nbsp;Long-term bank loans,
      less current maturities </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">23,618 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">14,975 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15">&nbsp; &nbsp; &nbsp;Other long-term loan </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">2,492 </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">2,457 </TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="15">&nbsp; &nbsp; &nbsp;Deferred revenue </TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">7,433 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff height="15">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff height="15">7,456 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15">&nbsp; &nbsp; &nbsp;Other long-term payables </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">11,220 </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">11,732 </TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff height="16">&nbsp; &nbsp; &nbsp;Deferred tax
      liabilities </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff height="16">758 </TD>
    <TD align=left width="2%"  bgColor=#e6efff height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff height="16">748 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff height="16">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left height="17">Total liabilities </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%" height="18"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="12%" height="18">349,456 </TD>
    <TD align=left width="2%" height="17" ></TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%" height="18"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="12%" height="18">339,968 </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="2%" height="18"
    ></TD></TR>
  <TR>
    <TD align=left height="16" bgcolor="#E6EFFF" >&nbsp;Commitments and contingencies </TD>
    <TD align=left width="1%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=right width="12%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=left width="2%" height="16" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=left width="1%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=right width="12%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=left width="2%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD></TR>
  <TR>
    <TD align=left height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15" ></TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15" ></TD>
    <TD align=left width="2%" height="15" ></TD></TR>
  <TR>
    <TD align=left height="16" >&nbsp;<STRONG>Shareholders&#146; equity:</STRONG>
    </TD>
    <TD align=left width="1%" height="16" ></TD>
    <TD align=right width="12%" height="16" ></TD>
    <TD align=left width="2%" height="16" ></TD>
    <TD align=left width="1%" height="16" ></TD>
    <TD align=right width="12%" height="16" ></TD>
    <TD align=left width="2%" height="16" ></TD></TR>
  <tr>
    <TD align=left height="15" bgcolor="#E6EFFF">
    <p style="text-indent: -5pt; margin-left: 5pt">&nbsp;&nbsp;&nbsp;&nbsp; Ordinary shares US$ 0.001 par value; 100,000,000
      authorized; 63,816,276 issued and outstanding as of September 30, 2011 and
      March 31, 2012 </TD>
    <TD align=left width="1%" height="15" bgcolor="#E6EFFF" ></TD>
    <TD align=right width="12%" height="15" bgcolor="#E6EFFF">64 </TD>
    <TD align=right width="2%" height="15" bgcolor="#E6EFFF" ></TD>
    <TD align=right width="1%" height="15" bgcolor="#E6EFFF" ></TD>
    <TD align=right width="12%" height="15" bgcolor="#E6EFFF">64 </TD>
    <TD align=left width="2%" height="15" bgcolor="#E6EFFF" ></TD>
  </tr>
  <tr>
    <TD align=left height="15">
    <p style="text-indent: -5pt; margin-left: 5pt">&nbsp; &nbsp; &nbsp;Donation Shares </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">14,102 </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">14,102 </TD>
    <TD align=left width="2%" height="15" ></TD>
  </tr>
  <tr>
    <TD align=left height="15" bgcolor="#E6EFFF">
    <p style="text-indent: -5pt; margin-left: 5pt">&nbsp; &nbsp; &nbsp;Additional paid-in-capital </TD>
    <TD align=left width="1%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=right width="12%" height="15" bgcolor="#E6EFFF">126,610 </TD>
    <TD align=left width="2%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=left width="1%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=right width="12%" height="15" bgcolor="#E6EFFF">126,135 </TD>
    <TD align=left width="2%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD>
  </tr>
  <tr>
    <TD align=left height="15">
    <p style="text-indent: -5pt; margin-left: 5pt">&nbsp; &nbsp; &nbsp;Statutory reserves </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">7,786 </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">7,645 </TD>
    <TD align=left width="2%" height="15" ></TD>
  </tr>
  <tr>
    <TD align=left height="15" bgcolor="#E6EFFF">&nbsp; &nbsp; &nbsp;Accumulated deficit </TD>
    <TD align=left width="1%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=right width="12%" height="15" bgcolor="#E6EFFF">(61,999</TD>
    <TD align=left width="2%" height="15" bgcolor="#E6EFFF" >) </TD>
    <TD align=left width="1%" height="15" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=right width="12%" height="15" bgcolor="#E6EFFF">(44,410</TD>
    <TD align=left width="2%" height="15" bgcolor="#E6EFFF" >) </TD>
  </tr>
  <tr>
    <TD align=left height="15">&nbsp; &nbsp; &nbsp;Accumulated other comprehensive income
    </TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">37,664 </TD>
    <TD align=left width="2%" height="15" ></TD>
    <TD align=left width="1%" height="15" ></TD>
    <TD align=right width="12%" height="15">35,805 </TD>
    <TD align=left width="2%" height="15" ></TD>
  </tr>
  <tr>
    <TD align=left height="16" bgcolor="#E6EFFF">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Less: Treasury shares </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" height="16" bgcolor="#E6EFFF"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
    width="12%" height="16" bgcolor="#E6EFFF">(4,067</TD>
    <TD align=left width="2%" height="16" bgcolor="#E6EFFF" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" height="16" bgcolor="#E6EFFF"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
    width="12%" height="16" bgcolor="#E6EFFF">(4,067</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" height="16" bgcolor="#E6EFFF"
    >) </TD>
  </tr>
  <tr>
    <TD align=left height="16">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total
      shareholders&#146; equity </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%" height="16">120,160 </TD>
    <TD align=left width="2%" height="16" ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%" height="16">135,274 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" height="16"
    ></TD>
  </tr>
  <tr>
    <TD align=left height="18" bgcolor="#E6EFFF"><B>Total liabilities and shareholders&#146; equity</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%" height="18" bgcolor="#E6EFFF"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="12%" height="18" bgcolor="#E6EFFF">&nbsp;469,616 </TD>
    <TD align=left width="2%" height="18" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%" height="18" bgcolor="#E6EFFF"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="12%" height="18" bgcolor="#E6EFFF">&nbsp;475,242 </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="2%" height="18" bgcolor="#E6EFFF"
    >&nbsp;</TD>
  </tr>
</TABLE><BR>
<br>
&nbsp;<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>China BAK Battery, Inc. </TD>
    <TD align=right width="50%">Page 6 of 7 </TD></TR></TABLE>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_7></A>
<P align=center><B>China BAK Battery, Inc. and Subsidiaries <BR>Condensed
Interim Consolidated Statements of Cash Flows <BR></B><B>For the Three Months
Ended March 31, 2012, December 31, 2011 and March 31, 2011 <BR>(Amounts in
thousands) </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="36%"
    colSpan=7><B>Three Months Ended</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left></TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=center width="10%"><B>March 31, 2012</B> </TD>
    <TD align=center width="2%" >&nbsp;</TD>
    <TD align=center width="1%" >&nbsp;</TD>
    <TD align=center width="10%"><B>December 31,</B> <B>2011</B> </TD>
    <TD align=center width="2%" >&nbsp;</TD>
    <TD align=center width="1%" >&nbsp;</TD>
    <TD align=center width="10%"><B>March 31, 2011</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=center width="10%"><B>(Unaudited)</B> </TD>
    <TD align=center width="2%" >&nbsp;</TD>
    <TD align=center width="1%" >&nbsp;</TD>
    <TD align=center width="10%"><B>(Unaudited)</B> </TD>
    <TD align=center width="2%" >&nbsp;</TD>
    <TD align=center width="1%" >&nbsp;</TD>
    <TD align=center width="10%"><B>(Unaudited)</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>Cash flow from operating activities</B>
    </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Net loss </TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;(15,628</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;(1,820</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;(4,084</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp;&nbsp; Adjustments to reconcile net
      loss to net cash provided by operating activities: </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;Depreciation and amortization </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">5,149 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">5,178 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">4,656 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp;&nbsp; Provision for / (recovery of
      provision for) doubtful debts </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>2,633 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>1,054 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(614</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;&nbsp; Provision for / (recovery of provision for)
      obsolete inventories </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">2,289 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(322</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(737</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp; &nbsp;Impairment charge </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>- </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>2,708 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>- </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;Share-based compensation </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">219 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">255 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">409 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp; &nbsp;Deferred income taxes </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>- </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>2,111 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(182</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;Deferred revenue </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(63</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(63</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(61</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp; &nbsp;Exchange (loss) / gain </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(163</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>165 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(135</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>Changes in operating assets and liabilities: </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Trade
      accounts receivable </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>6,421 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(20,226</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>1,997 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Inventories </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(5,481</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">12,688 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">1,657 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Prepayments and other receivables </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(4,884</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(2,003</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>1,285 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Accounts and bills
      payable </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">5,556 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(1,028</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(1,273</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Accrued
      expenses and other payables </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>13,088 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>6,949 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>(293</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>Net cash provided by operating activities </TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;9,136 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">&nbsp;5,646 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">&nbsp;2,625 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD bgColor=#e6efff>&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Cash flow from investing activities</B> </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp;&nbsp; Purchases of property, plant
      and equipment </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(6,274</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(3,778</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(6,349</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;Purchases of intangible assets </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">- </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
    width="10%">(464</TD>
    <TD align=left width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">- </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Net cash used in investing activities </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>&nbsp;(6,274</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>&nbsp;(4,242</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>&nbsp;(6,349</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>Cash flow from financing activities</B>
    </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;Proceeds from borrowings </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">57,578 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">37,818 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">66,874 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp; &nbsp;Repayment of borrowings </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(52,379</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(59,075</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(72,954</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;Decrease in pledged deposits </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">2,648
    </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">808
    </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">10,567 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Net cash provided by / (used in) financing
      activities </TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="10%" bgColor=#e6efff>&nbsp;7,847 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="10%" bgColor=#e6efff>&nbsp;(20,449</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="10%" bgColor=#e6efff>&nbsp;4,487 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>Effect of exchange rate changes on</B>
      <B>cash and cash equivalents</B> </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>95 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>62 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>268 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Net increase / (decrease) in cash and</B> <B>cash
      equivalents</B> </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">10,804 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(18,983</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">1,031 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>Cash and cash equivalents at the</B>
      <B>beginning of the period</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>5,875 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>24,858 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>24,527 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Cash and cash equivalents at the end of</B> <B>the
      period</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="10%">&nbsp;16,679 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="10%">&nbsp;5,875 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="10%">&nbsp;25,558 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR></TABLE>
<P align=justify><BR></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>China BAK Battery, Inc. </TD>
    <TD align=right width="50%">Page 7 of 7 </TD></TR></TABLE>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
