<SEC-DOCUMENT>0001213900-21-038526.txt : 20210726
<SEC-HEADER>0001213900-21-038526.hdr.sgml : 20210726
<ACCEPTANCE-DATETIME>20210726091357
ACCESSION NUMBER:		0001213900-21-038526
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20210720
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210726
DATE AS OF CHANGE:		20210726

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CBAK Energy Technology, Inc.
		CENTRAL INDEX KEY:			0001117171
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				880442833
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32898
		FILM NUMBER:		211112632

	BUSINESS ADDRESS:	
		STREET 1:		BAK INDUSTRIAL PARK, MEIGUI STREET
		STREET 2:		HUAYUANKOU ECONOMIC ZONE
		CITY:			DALIAN
		STATE:			F4
		ZIP:			116422
		BUSINESS PHONE:		(86)(411)6251-0619

	MAIL ADDRESS:	
		STREET 1:		BAK INDUSTRIAL PARK, MEIGUI STREET
		STREET 2:		HUAYUANKOU ECONOMIC ZONE
		CITY:			DALIAN
		STATE:			F4
		ZIP:			116422

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHINA BAK BATTERY INC
		DATE OF NAME CHANGE:	20050214

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEDINA COFFEE INC
		DATE OF NAME CHANGE:	20000626
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ea144728-8k_cbakenergy.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CURRENT
REPORT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PURSUANT
TO SECTION 13 OR 15(d)<BR>
OF THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date
of Report (Date of Earliest Event Reported): </B>July 20, 2021</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CBAK
    ENERGY TECHNOLOGY, INC.</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(Exact
    name of registrant as specified in its charter)</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nevada</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-left: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-32898</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>86-0442833</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(State
    or other jurisdiction<BR>
    &nbsp;of incorporation)</I></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(Commission
    File No.)</I></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(IRS
    Employer<BR>
    &nbsp;Identification No.)</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BAK
Industrial Park, Meigui Street</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Huayuankou
Economic Zone</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Dalian,
China, 116450</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(Address,
including zip code, of principal executive offices)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(86)(411)-3918-5985</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(Registrant&rsquo;s
telephone number, including area code)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(Former
name or former address, if changed since last report)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
registered or to be registered pursuant to Section 12(b) of the Act:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title
    of each class</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trading
    Symbol(s)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name
    of each exchange on which <BR>
    registered</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    Stock, $0.001 par value</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CBAT</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq
    Capital Market</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 34px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written
    communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting
    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule&nbsp;405 of the Securities Act of 1933 (&sect;230.405
of this chapter) or Rule&nbsp;12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
growth company &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a)&nbsp;of the Exchange Act. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM
1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July 20, 2021, Dalian CBAK Power Battery Co., Ltd. (&ldquo;CBAK
Power&rdquo;), a wholly-owned subsidiary of CBAK Energy Technology, Inc. (the &ldquo;Company&rdquo;) in China, entered into a framework
agreement relating to CBAK Power&rsquo;s investment in Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd (&ldquo;Hitrans&rdquo;),
pursuant to which CBAK Power will acquire 81.56% of the equity interests of Hitrans (the &ldquo;Acquisition Agreement&rdquo;). In our
Annual Report on Form 10-K for the fiscal year 2020 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, we disclosed
that CBAK Power entered into a framework investment agreement (the &ldquo;Letter of Intent&rdquo;) with Hangzhou Juzhong Daxin Asset Management
Co., Ltd. (&ldquo;Juzhong Daxin&rdquo;) on April 1, 2021 for a potential acquisition of Hitrans and CBAK Power had paid $3.05 million
(RMB20 million) to Juzhong Daxin as a security deposit. Hitrans is an unrelated third party engaging in the research, production and sale
of lithium-ion battery materials and is one of the key suppliers of the Company in fiscal 2020.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the Acquisition Agreement, CBAK Power will acquire 60% ownership of Hitrans from Zhejiang Meidu Graphene Technology Co., Ltd. (&ldquo;Meidu
Graphene&rdquo;) valued at RMB118 million ($18.21 million) and 21.56% ownership of Hitrans from Hitrans&rsquo;s management shareholders
valued at approximately RMB40.74 million ($6.29 million). Two individuals among Hitrans management shareholders, including Hitrans&rsquo;s
CEO, Mr. Haijun Wu (&ldquo;Mr. Wu&rdquo;), will keep 2.50% ownership of Hitrans and New Era Group Zhejiang New Energy Materials Co.,
Ltd. (&ldquo;New Era&rdquo;) will continue to hold 15% ownership of Hitrans after the acquisition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of the Acquisition Agreement, the 25% ownership of Hitrans held by Hitrans management shareholders was frozen as a result
of a litigation arising from the default by Hitrans management shareholders on debts borrowed from Zhejiang Meidu Pawn Co., Ltd. (&ldquo;Pawn
Co.&rdquo;) whereby the 25% ownership of Hitrans was pledged as collateral. Mr. Junnan Ye (&ldquo;Mr. Ye&rdquo;), acting as an intermediary,
will first acquire 22.5% ownership of Hitrans, free of any encumbrances, from Hitrans management shareholders. Pursuant to the Acquisition
Agreement, within five days of CBAK Power&rsquo;s obtaining 21.56% ownership of Hitrans from Mr. Ye, CBAK Power will pay approximately
RMB40.74 million ($6.29 million) in cash, which amount shall be used toward the repayment of debts due to Pawn Co.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, as of the date of the Acquisition Agreement, Meidu Graphene&rsquo;s 60% ownership of Hitrans was frozen as a result of a litigation
arising from Hitrans&rsquo;s failure to make payments to New Era in connection with the purchase of land use rights, plants, equipment,
pollution discharge permit and other assets (the &ldquo;Assets&rdquo;) under certain asset transfer agreements as well as Meidu Graphene&rsquo;s
guarantee for Hitrans&rsquo;s payment obligations thereunder. As a part of the transaction, CBAK Power will enter into a loan agreement
with Hitrans to lend Hitrans approximately RMB131 million ($20.22 million) (the &ldquo;Hitrans Loan&rdquo;) by remitting approximately
RMB131 million into the account of Shaoxing Intermediate People&rsquo;s Court (the &ldquo;Court&rdquo;) to remove the freeze on Meidu
Graphene&rsquo;s 60% ownership of Hitrans. Moreover, Juzhong Daxin will return RMB15 million ($2.32 million) of the security deposit
to CBAK Power before CBAK Power wires approximately RMB131 million to the Court and will retain RMB5 million ($0.77 million) as commission
for facilitating the acquisition. CBAK Power will pay all other fees due to Juzhong Daxin in accordance with the Letter of Intent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">According to the Acquisition Agreement, Mr. Ye will first acquire 60%
ownership of Hitrans, free of any encumbrances, from Meidu Graphene. Thereafter, CBAK Power will assign RMB118 million of the Hitrans
Loan to Mr. Junnan Ye as consideration for the acquisition of 60% ownership of Hitrans from Mr. Ye (the &ldquo;Assignment&rdquo;). Hitrans
shall repay RMB118 million to Mr. Ye in accordance with a separate loan repayment agreement (the &ldquo;Loan Repayment Agreement&rdquo;)
to be entered into among Mr. Ye, Hitrans, CBAK Power and Mr. Wu. Under the Loan Repayment Agreement, Hitrans shall repay Mr. Ye at least
RMB70 million ($10.80 million) within two months of obtaining the title to the Assets from New Era and the remaining balance by December
31, 2021, with a fixed interest of RMB3.5 million ($0.54 million) which can be reduced by up to RMB1 million ($0.15 million) if the loan
is prepaid. CBAK Power will provide guarantee to Mr. Ye on Hitrans&rsquo;s repayment obligations under the Loan Repayment Agreement. Hitrans
shall repay the remaining approximately RMB13 million ($2.01 million) of the Hitrans Loan to CBAK Power at an interest rate of 6% per
annum, maturing in one year from the date of the Assignment.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
foregoing description of the Acquisition Agreement and the Loan Repayment Agreement does not purport to be complete and is qualified
in its entirety by reference to the full text of such agreements, copies of which are attached hereto as Exhibits 10.1 and 10.2, respectively,
and are incorporated herein by reference.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CBAK
Power aims to complete the acquisition of 81.56% ownership of Hitrans in the third quarter of 2021. The Company expects to strengthen
its competitiveness and supply chain in the market of high power lithium batteries through this acquisition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM
8.01. OTHER EVENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 26, 2021, the Company issued a press release announcing the entry into the Acquisition Agreement, a copy of which is attached hereto
as Exhibit 99.1.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM
9.01. FINANCIAL STATEMENTS AND EXHIBITS.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibits</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 9%; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    </B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 90%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="ea144728ex10-1_cbakenergy.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">English
    translation of Framework Agreement Relating to Dalian CBAK Power Battery Co., Ltd.&rsquo;s Investment in Zhejiang Meidu Hitrans
    Lithium Battery Technology Co., Ltd., dated July 20, 2021</FONT></A></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="ea144728ex10-2_cbakenergy.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">English
    translation of Form of Loan Repayment Agreement &nbsp;</FONT></A></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="ea144728ex99-1_cbakenergy.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>***</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Forward-Looking
Statements</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Certain
statements in this Current Report on Form&nbsp;8-K&nbsp;are &ldquo;forward-looking statements&rdquo; as the term is defined under applicable
securities laws. These statements include, without limitation, the anticipated timing of the completion of the Hitrans acquisition and
the benefits thereof. These and other forward-looking statements are subject to risks, uncertainties and other factors that could cause
actual results to differ materially from those statements. Such risks and uncertainties are, in many instances, beyond the Company&rsquo;s
control. Forward-looking statements, which are presented as of the date of this filing, will not be updated to reflect events or circumstances
after the date of this report except as required by law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SIGNATURE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0in; text-indent: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CBAK
    ENERGY TECHNOLOGY, INC. </B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 36%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
    July 26, 2021</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/&nbsp;Xiangyu
    Pei</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xiangyu
    Pei</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interim
    Chief Financial Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea144728ex10-1_cbakenergy.htm
<DESCRIPTION>FRAMEWORK AGREEMENT RELATING TO DALIAN CBAK POWER BATTERY CO., LTD.'S INVESTMENT IN ZHEJIANG MEIDU HITRANS LITHIUM BATTERY TECHNOLOGY CO., LTD., DATED JULY 20, 2021
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FRAMEWORK AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RELATING TO INVESTMENT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DALIAN CBAK POWER BATTERY CO., LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ZHEJIANG MEIDU HITRANS LITHIUM BATTERY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TECHNOLOGY
CO., LTD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TABLE OF CONTENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>1.</I></B></FONT></TD>
    <TD STYLE="width: 82%"><B><I><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dispute Settlement</FONT></A></I></B></TD>
    <TD STYLE="text-align: center; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>3</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>2.</I></B></FONT></TD>
    <TD><B><I><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provision of Loans</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>5</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>3.</I></B></FONT></TD>
    <TD><B><I><A HREF="#a_003"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transfer of Shares</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>7</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>4.</I></B></FONT></TD>
    <TD><B><I><A HREF="#a_004"><FONT STYLE="font-family: Times New Roman, Times, Serif">Representations, Warranties and Covenants</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>9</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>5.</I></B></FONT></TD>
    <TD><B><I><A HREF="#a_005"><FONT STYLE="font-family: Times New Roman, Times, Serif">Default</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>12</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>6.</I></B></FONT></TD>
    <TD><B><I><A HREF="#a_006"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dispute Resolution</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>13</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>7.</I></B></FONT></TD>
    <TD><B><I><A HREF="#a_007"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>13</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>8.</I></B></FONT></TD>
    <TD><B><I><A HREF="#a_008"><FONT STYLE="font-family: Times New Roman, Times, Serif">Others</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>15</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2"><B><I><A HREF="#a_009"><FONT STYLE="font-family: Times New Roman, Times, Serif">Appendix 1: Enforcement Settlement
    Agreement</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2"><B><I><A HREF="#a_010"><FONT STYLE="font-family: Times New Roman, Times, Serif">Appendix 2: Civil Mediation Document
    and Hitrans&rsquo;s Shareholders Resolutions</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2"><B><I><A HREF="#b_001">Appendix 3: Loan Agreement</A></I></B></TD>
    <TD STYLE="text-align: center"><B><I>&nbsp;</I></B></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2"><B><I><A HREF="#b_002">Appendix 4: Asset Purchase Agreement</A></I></B></TD>
    <TD STYLE="text-align: center"><B><I>&nbsp;</I></B></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2"><B><I><A HREF="#a_011"><FONT STYLE="font-family: Times New Roman, Times, Serif">Appendix 5: Form of Hitrans&rsquo;s
    Shareholders Resolutions Approving the Loan</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2"><B><I><A HREF="#b_003">Appendix 6: Share Transfer Agreement (21.56% Shares)</A></I></B></TD>
    <TD STYLE="text-align: center"><B><I>&nbsp;</I></B></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2"><B><I><A HREF="#a_012"><FONT STYLE="font-family: Times New Roman, Times, Serif">Appendix 7: Form of Hitrans&rsquo;s
    Shareholders Resolutions and Charter Amendment Regarding CBAK Power&rsquo;s Acquisition of 21.56% Shares</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2"><B><I><A HREF="#b_004">Appendix 8: Share Transfer Agreement (60% Shares)</A></I></B></TD>
    <TD STYLE="text-align: center"><B><I>&nbsp;</I></B></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2"><B><I><A HREF="#a_013"><FONT STYLE="font-family: Times New Roman, Times, Serif">Appendix 9: Form of Hitrans&rsquo;s
    Shareholders Resolutions and Charter Amendment Regarding CBAK Power&rsquo;s Acquisition of 60% Shares</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2"><B><I><A HREF="#a_014"><FONT STYLE="font-family: Times New Roman, Times, Serif">Appendix 10: Form of Resignation</FONT></A></I></B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>THIS AGREEMENT</B> is signed by the following
parties on the 20th day of July, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">Dalian CBAK Power Battery Co., Ltd. (hereinafter referred to as &ldquo;<B>Party A</B>&rdquo; or &ldquo;<B>CBAK
Power</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">Junnan Ye<FONT STYLE="font-family: Times New Roman, Times, Serif">&#12289;</FONT>Hangzhou Juzhong Daxin
Asset Management Co., Ltd. (hereinafter referred to as &ldquo;<B>Juzhong Daxin</B>&rdquo;) (Junnan Ye and Juzhong Daxin are hereinafter
collectively referred to as &ldquo;<B>Party B</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left">Haijun Wu<FONT STYLE="font-family: Times New Roman, Times, Serif">&#12289;</FONT>Chunhong Shi (Haijun
Wu<FONT STYLE="font-family: Times New Roman, Times, Serif">&#12289;</FONT>Chunhong Shi are hereinafter collectively referred to as &ldquo;<B>Party
C</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: left">Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd (hereinafter referred to as &ldquo;<B>Party
D</B>&rdquo; or &ldquo;<B>Hitrans</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: left"><B>WHEREAS</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">I.</TD><TD STYLE="text-align: left">Hitrans is a limited company duly incorporated under the laws of the People&rsquo;s Republic of China
and is valid and subsisting. It mainly engages in research and development, production and sale of lithium battery three-way positive
electrode material and ternary precursor relating businesses. Up to the date of the signing of this Agreement, its registered capital
is RMB40,000,000.00, of which Zhejiang Meidu Graphene Technology Co., Ltd. (hereinafter referred to as &ldquo;<B>Meidu Graphene</B>&rdquo;)
subscribed RMB24,000,000.00 (paid up RMB15,500,000.00) holding 60% shares; Shaoxing Yongjin Battery Material Co., Ltd., Shaoxing Shangyu
Hitrans International Trade Co., Ltd., Haijun Wu, Chunhong Shi, Zhiting Qian, Yinfeng Wang (hereinafter collectively referred to as &ldquo;<B>Management
Shareholders</B>&rdquo;) totally subscribed RMB10,000,000.00 (paid up RMB7,000,000.00) holding 25% shares; New Era Group Zhejiang New
Energy Materials Co., Ltd. (hereinafter referred to as &ldquo;<B>New Era</B>&rdquo;) subscribed RMB6,000,000.00 (paid up RMB6,000,000.00)
holding 15% shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">II.</TD><TD STYLE="text-align: left">Among Hitrans<FONT STYLE="font-family: Times New Roman, Times, Serif">&#12289;</FONT>Meidu Graphene<FONT STYLE="font-family: Times New Roman, Times, Serif">&#12289;</FONT>Meidu
Energy Corporation (hereinafter referred to as &ldquo;<B>Meidu Energy</B>&rdquo;) and New Era, there was legal action due to Hitrans being
unable to timely pay the asset transfer consideration under the Asset Transfer Agreement and the Supplemental Asset Transfer Agreement
and due to Meidu Graphene&rsquo;s and Meidu Energy&rsquo;s provision of guarantee in those transactions. Shaoxing Intermediate People&rsquo;s
Court and Higher People&rsquo;s Court of Zhejiang Province after two trials have entered final judgement. Also, New Era has through the
Court seized and frozen the 60% shares of Hitrans held by Meidu Graphene (the said legal case is hereinafter referred to as &ldquo;<B>New
Era Asset Transfer Agreement Case</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">III.</TD><TD STYLE="text-align: left">Among Meidu Graphene<FONT STYLE="font-family: Times New Roman, Times, Serif">&#12289;</FONT>Meidu Energy
and New Era, there was legal action due to Meidu Graphene&rsquo;s failure to timely perform its obligation to make capital contribution
to Hitrans. Also, New Era has through the Court seized and frozen the 60% shares of Hitrans held by Meidu Graphene (the said legal case
is hereinafter referred to as &ldquo;<B>New Era Capital Increase Obligation Case</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">IV.</TD><TD STYLE="text-align: left">Among Hitrans<FONT STYLE="font-family: Times New Roman, Times, Serif">&#12289;</FONT>Meidu Energy and
Meidu Graphene, there was legal action due to Meidu Graphene&rsquo;s failure to timely perform its obligations to make capital contribution
to Hitrans. This case was ended through mediation by Shaoxing Intermediate People&rsquo;s Court and Civil Mediation Document ((2021) Zhejiang
06 Civil Trial No. 65) has been issued, delivered and is effective. The shareholders of Hitrans have passed special shareholders&rsquo;
resolutions agreeing that all shareholders shall perform their obligations to increase the capital of Hitrans according to the lawful
valid judgement, mediation document, or order issued by People&rsquo;s Court or an arbitration tribunal (the said legal case is hereinafter
referred to as &ldquo;<B>Hitrans Capital Increase Obligation Case</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">V.</TD><TD STYLE="text-align: left">Between Management Shareholders and Zhejiang Meidu Pawn Co., Ltd. (hereinafter referred to as &ldquo;<B>Pawn
Co.</B>&rdquo;), there was legal action due to Management Shareholders having pledged the 25% shares of Hitrans held by them and that
the Management Shareholders were not able to make timely repayment. Pawn Co. has through the Court seized and frozen the 25% shares of
Hitrans held by Management Shareholders (the said case is hereinafter referred to as &ldquo;<B>Pawn Co. against Management Shareholders
Case</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">VI.</TD><TD STYLE="text-align: left">CBAK Power is a limited liability company duly incorporated under the laws of People&rsquo;s Republic
of China and is valid and subsisting. It mainly engages in the research and development, manufacturing and sale of lithium battery and
its business has synergy with that of Hitrans.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">VII.</TD><TD STYLE="text-align: left">To resolve the above legal actions which have caused adverse impacts on the production and operation of
Hitrans, Hitrans intends to introduce CBAK Power as a strategic investor. CBAK Power will purchase 60% shares of Hitrans held by Meidu
Graphene, and will purchase 21.56% shares of Hitrans from Management Shareholders except Party C. After completion of the purchase, CBAK
Power as the controlling shareholder of Hitrans will hold 81.56% shares of Hitrans.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">VIII.</TD><TD STYLE="text-align: left">Prior to the signing of this Agreement, Party B has through Juzhong Daxin as representative signed Share
Purchase Cooperation Framework Agreement with CBAK Power, agreeing that Party B will facilitate this transaction and CBAK Power has paid
a security deposit of RMB20,000,000.00 to Juzhong Daxin pursuant to the said agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">IX.</TD><TD STYLE="text-align: left">In this transaction, Junnan Ye will be the parties&rsquo; intermediary who will first purchase the 60%
shares of Hitrans held by Meidu Graphene and the 22.5% shares of Hitrans held by Management Shareholders at fair prices, and then will
transfer the 81.56% shares to CBAK Power in stages.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>NOW THEREFORE</B>, all parties through negotiation
unanimously reach the following agreement and will comply with the same:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left"><U><A NAME="a_001"></A>Dispute Settlement</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.1</B></TD><TD STYLE="text-align: left"><B>New Era Asset Transfer Agreement Case Settlement.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32pt; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">1.1.1</TD><TD STYLE="text-align: left">To facilitate this transaction, CBAK Power agrees to provide conditional repayment in New Era Asset Transfer
Agreement case, and CBAK Power, Junnan Ye, Juzhong Daxin and Zhejiang New Era Jonoon Recycling Technology Co., Ltd. (hereinafter referred
to as &ldquo;<B>Jonoon</B>&rdquo;) as third parties and the said case&rsquo;s Plaintiff and Defendant have together entered into an enforcement
settlement under the coordination of Shaoxing Intermediate People&rsquo;s Court. The main contents of the enforcement settlement, as an
integral part of this Agreement, (collectively referred to as &ldquo;<B>Settlement Agreement</B>&rdquo;) includes:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.1.1.1</TD><TD STYLE="text-align: left">Hitrans, New Era, and third party Jonoon have reached unanimous agreement to change the transferees involved
in the said case: that Hitrans will accept transfer of, the building and land use rights that it is now using, existing construction projects,
machinery equipment, and pollution discharge permit and will pay the total consideration of RMB131,039,378.00 to New Era; that Jonoon
will accept transfer of the other assets under the Asset Transfer Agreement and will pay the total consideration of RMB78,177,522.00 to
New Era; after execution, the Settlement Agreement shall replace the rights and obligations determined by the Asset Transfer Agreement,
Supplemental Asset Transfer Agreement and related judgements.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.6pt; text-align: left; text-indent: -88.6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.6pt; text-align: left; text-indent: -88.6pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.6pt; text-align: left; text-indent: -88.6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.1.1.2</TD><TD STYLE="text-align: left">CBAK Power will provide conditional repayment for the payment obligation of Hitrans under the Settlement
Agreement, that is, after reaching the Settlement Agreement and after CBAK Power has, according to this Agreement, obtained not less than
21.56% shares of Hitrans, CBAK Power, according to the Settlement Agreement, shall remit the monetary fund of RMB131,039,378.00 into the
public account designated by Shaoxing Intermediate People&rsquo;s Court, the said fund will be handled in the following manner:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.6pt; text-align: left; text-indent: -88.6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">when the above assets of New Era have
been transferred to Hitrans in registration in accordance with the Settlement Agreement, and Junnan Ye has obtained no less than 60% shares
of Hitrans, then the above fund of RMB131,039,378.00 shall be transferred from the public account designated by Shaoxing Intermediate
People&rsquo;s Court to New Era. If the above assets or shares transfer is not completed, then the above fund of RMB131,039,378.00 shall
be returned by Shaoxing Intermediate People&rsquo;s Court to CBAK Power&rsquo;s account via the original route.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.6pt; text-align: left; text-indent: -88.6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.1.1.3</TD><TD STYLE="text-align: left">Save the total consideration payable to New Era as determined under the Settlement Agreement, Hitrans
has no responsibility whatsoever towards New Era to perform any obligation or duty under any agreement or judgement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.6pt; text-align: left; text-indent: -88.6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.1.1.4</TD><TD STYLE="text-align: left">After CBAK Power remits RMB131,039,378.00 into the account designated by Shaoxing Intermediate People&rsquo;s
Court, New Era shall remove the freeze on the 60% shares of Hitrans held by Meidu Graphene. The above assets and shares transfers shall
be completed in 35 business days.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.6pt; text-align: left; text-indent: -88.6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.2</B></TD><TD STYLE="text-align: left"><B>New Era Capital Increase Obligation Case Settlement</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">1.2.1</TD><TD STYLE="text-align: left">All parties agree that Party B shall, within 15 days from the date of signing of this Agreement, coordinate
the Plaintiff and Defendant of the said case to reach settlement of the case and remove the seizure and freeze of the 60% shares of Hitrans
held by Meidu Graphene so that those shares can be returned to free transaction status.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.3</B></TD><TD STYLE="text-align: left"><B>Hitrans Capital Increase Obligation Case Settlement</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.3.1</TD><TD STYLE="text-align: left">Whereas, the said case has been closed by Shaoxing Intermediate People&rsquo;s Court through mediation,
and the Civil Mediation Document has been delivered and become effective, the relating parties should comply with the obligations prescribed
by the terms of the mediation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">1.3.2</TD><TD STYLE="text-align: left">Party B, Party C and Party D confirm that prior to the closing of the said case by mediation, all the
shareholders of Hitrans had passed lawful resolutions agreeing to perform their obligations to increase the capital of Hitrans according
to the lawful valid judgement, mediation document, or order issued by People&rsquo;s Court or an arbitration tribunal.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">1.3.3</TD><TD STYLE="text-align: left">All parties agree to attach the above Civil Mediation Document and Hitrans&rsquo;s shareholders resolutions
as Appendix 2 to this Agreement and to regard them as an integral part of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.4</B></TD><TD STYLE="text-align: left"><B>Pawn Co. against Management Shareholders Case Settlement </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.4.1</TD><TD STYLE="text-align: left">All parties agree that, Party B and Party C shall, within 10 business days from the date of the signing
of this Agreement, coordinate the Plaintiff and the Defendant of the said case to reach an enforcement settlement and discharge the pledging,
seizing and freezing of the total 25% shares of Hitrans held by Management Shareholders so that those shares can be returned to free transaction
status.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left"><U><A NAME="a_002"></A>Provision of Loans</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="text-align: left">Simultaneously with the signing of this Agreement, CBAK Power and Hitrans shall sign the Loan Agreement
attached to this Agreement as Appendix 3, the main terms of which are as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.1.1</TD><TD STYLE="text-align: left">Total loan amount: RMB131,039,378.00;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.1.2</TD><TD STYLE="text-align: left">Term of loan: 21 days from release of the loan amount;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.1.3</TD><TD STYLE="text-align: left">Use of the loan: To pay the asset purchase consideration payable to New Era under (2020) Zhejiang 06 Zhi
No. 444 Enforcement Settlement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.1.4</TD><TD STYLE="text-align: left">Loan interest rate: If CBAK Power is able to smoothly acquire 81.56% shares of Hitrans within the term
of the loan, the above loan shall be interest free. If CBAK Power is not able to smoothly acquire 81.56% shares of Hitrans within the
term of the loan, the loan interest rate shall be 4 times of the one-year loan prime rate (LPR) announced by National Interbank Funding
Center (NIFC) from the date of the release of the loan until Hitrans fully repays the above loan principal and interest. If CBAK Power
transfers its creditor&rsquo;s rights under this Agreement, then the balance of the loan amount after the loan transfer shall be subject
to a loan interest at 6% per annum, and the term for the balance of the loan shall be extended to 1 year from the effective date of the
transfer of the creditor&rsquo;s rights;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.1.5</TD><TD STYLE="text-align: left">Condition for the loan: When all the following conditions are satisfied, CBAK Power will be deemed to
have advanced the above loan to Hitrans:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: left">CBAK Power has acquired 21.56% shares of Hitrans according to this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: left">the Settlement Agreement mentioned in Section 1.1 of this Agreement has been signed and effective;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.7pt; text-align: left; text-indent: -76.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: left">CBAK Power has remitted the funds into the public account designated by Shaoxing Intermediate People&rsquo;s
Court according to Section 1.1.1.2 of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.7pt; text-align: left; text-indent: -76.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.2</TD><TD STYLE="text-align: left">At the time of signing the Agreement, CBAK Power and Hitrans sign the Assets Purchase Agreement in the
form attached as Appendix 4 hereto, and agree to the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.7pt; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">2.2.1</TD><TD STYLE="text-align: left">If CBAK Power is not able to obtain 81.56% of Hitrans&rsquo;s shares in accordance with this Agreement,
then CBAK Power has the right to immediately effectuate the Assets Purchase Agreement, which will be based on CBAK Power&rsquo;s written
notice.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">2.2.2</TD><TD STYLE="text-align: left">After the Assets Purchase Agreement takes effect, CBAK Power has the right to select one or more of the
following approaches:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.2.2.1</TD><TD STYLE="text-align: left">If part or all of the assets set forth in Section 1.1 of this Agreement are transferred to Hitrans, then
Hitrans shall transfer such assets to CBAK Power at CBAK Power&rsquo;s request, to repay the corresponding loan amount, with the repayment
value being determined in accordance with the assets transfer consideration provided in Section 1.1 of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.2.2.2</TD><TD STYLE="text-align: left">If the assets set forth in Section 1.1 of this Agreement are not transferred in their entirety, and CBAK
Power does not receive the return of the repayment set forth in Section 1.1, then CBAK Power has the right to demand Hitrans to transfer
the relevant assets purchasing rights to CBAK Power, and Hitrans shall assist CBAK Power in recovering payment from the relevant parties
or demanding performance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.2.2.3</TD><TD STYLE="text-align: left">CBAK Power may also elect to have Hitrans recover payment from relevant parties or demand performance.
Once Hitrans obtains all the assets set forth in Section 1.1 of the Agreement, such assets shall be transferred to CBAK Power.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.3</TD><TD STYLE="text-align: left">Within 5 days from the signing of this Agreement, Party C and Party D shall deliver to CBAK Power a copy
of the Resolutions of the Shareholders of Hitrans in the form attached hereto as Appendix 5, which approve the execution of the Loan Agreement
and the Assets Purchase Agreement with CBAK Power.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left"><U><A NAME="a_003"></A>Transfer of Shares</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.1</TD><TD STYLE="text-align: left">Party B obtain 22.5% shares of Hitrans and then transfer 21.56% shares to CBAK Power.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">3.1.1</TD><TD STYLE="text-align: left">Party B undertake that at the time of signing this Agreement, Junnan Ye has reached that shares transfer
agreement with Management Shareholders, agreeing that after the pledging, seizing and freezing of the shares mentioned in Section 1.4
of this Agreement are discharged, Junnan Ye shall obtain 22.5% shares of Hitrans held by Management Shareholders at fair price. The said
transfer of shares has already been approved by shareholders of Hitrans, and relevant shareholders have all waived their rights of first
refusal.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">3.1.2</TD><TD STYLE="text-align: left">Party B, Party C and Party D undertake, within 10 business days from the discharge of the pledge, seizing
and freezing of the shares mentioned in Section 1.4 of this Agreement, transfer the above 22.5% shares of Hitrans to Junnan Ye, free from
any third party rights. Thereafter, Junnan Ye shall sign the Share Transfer Agreement with CBAK Power in the form attached hereto as Appendix
6, and transfer 21.56% shares to CBAK Power, and coordinate the other shareholders of Hitrans to deliver shareholders resolutions, waiver
of rights of first refusal, amended company articles and other documents (in the form of Appendix 7).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">3.1.3</TD><TD STYLE="text-align: left">The consideration for CBAK Power to acquire the above 21.56% shares of Hitrans is RMB40,744,376 (including
tax), the said sum shall be paid within 5 days after CBAK Power acquires the said shares. Party B, Party C and Party D confirm that the
consideration for the transfer of the said shares is calculated according to Hitrans&rsquo;s fair value, and there do not exist any circumstances
harming the rights of Hitrans, the creditors and shareholders of Hitrans or any other third party.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">3.1.4</TD><TD STYLE="text-align: left">All parties agree that all the consideration paid by CBAK Power to Junnan Ye for the transfer of shares
aforesaid shall be exclusively used to repay the debt due by Management Shareholders to Pawn Co. Party B and Party C undertake that they
shall not delay the payment of Pawn Co.&rsquo;s debt which may lead to the creditors, who has signed a settlement, applying to resume
enforcement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.2</TD><TD STYLE="text-align: left">Party B acquire 60% shares of Hitrans and transfer of the said shares to CBAK Power.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">3.2.1</TD><TD STYLE="text-align: left">Party B undertake that at the time of signing this Agreement, Junnan Ye has reached a shares transfer
agreement with Meidu Graphene agreeing that after the seizure and freeze on the shares mentioned in Section 1.1.1.4 and Section 1.2.1
of this Agreement are discharged, Junnan Ye shall obtain 60% shares of Hitrans held by Meidu Graphene at fair price. The said transfer
of shares has obtained approval from shareholders of Hitrans and authority bodies of Meidu Graphene and Meidu Energy, and relevant shareholders
have all waived their rights of first refusal. Party B undertakes that its acquisition of 60% shares of Hitrans held by Meidu Graphene
does not involve any circumstances harming Meidu Graphene or its creditors or other third party rights, and is lawful and valid.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">3.2.2</TD><TD STYLE="text-align: left">Party B undertake, within 10 business days from the date of discharge of the seizing and freezing mentioned
in Section 1.1.1.4 and Section 1.2.1 of this Agreement, Junnan Ye shall obtain the above 60% shares of Hitrans, free from any attached
third party rights. Thereafter, Junnan Ye shall within 10 days of obtaining the said shares sign the Share Transfer Agreement with CBAK
Power in the form attached hereto as Appendix 8, complete the transfer of the said shares to CBAK Power in registration, and coordinate
the other shareholders of Hitrans to deliver shareholders resolutions and amended company articles. (in the form of Appendix 9).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">3.2.3</TD><TD STYLE="text-align: left">Party B agrees that the consideration for CBAK Power to obtain the above 60% shares of Hitrans is RMB118,000,000.00
(including tax). The said shares consideration shall be paid by the equal value of creditor&rsquo;s rights of CBAK Power towards Hitrans
formed by the loan mentioned in Section 2 of this Agreement. The above agreement shall be effective immediately upon the transfer of the
above 60% shares of Hitrans to CBAK Power in registration. Given that the creditor&rsquo;s rights against Hitrans responsive to the above
60% shares of Hitrans have been transferred from CBAK Power to Junnan Ye, Hitrans and Junnan Ye shall separately execute a loan repayment
agreement. The said repayment agreement requires CBAK Power to provide joint and several liabilities guarantee for Hitrans.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: left"><U><A NAME="a_004"></A>Representations, Warranties and Covenants</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.1</TD><TD STYLE="text-align: left">Each party represents, warrants and covenants to the other parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">4.1.1</TD><TD STYLE="text-align: left">It is a company lawfully incorporated under the applicable law and is validly subsisting and in good standing
or is a natural person with full capacity for civil conduct, possess full capacity for civil rights and full capacity for civil conduct
to externally and independently assume responsibilities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.1.2</TD><TD STYLE="text-align: left">Unless otherwise agreed under this Agreement, if that party is a company, under the law applicable to
it, that party has all required power, authorization and approval to execute this Agreement and has all the required power authorization
and approval to fully perform each of its obligations under this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">4.1.3</TD><TD STYLE="text-align: left">The person signing this Agreement on behalf of that party has obtained irrevocable, legal and complete
authorization, and that party should not in any circumstances challenge the other parties based on unauthorized agency, agency in excess
of authority or any other flaws in the authorization.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.1.4</TD><TD STYLE="text-align: left">The signing of this Agreement by that party does not violate any contract, agreement, company charter,
effective judgement, arbitration award, court order or administrative decision that are binding on that party.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.2</TD><TD STYLE="text-align: left">All the parties in Party B jointly and severally represent and warrant:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">4.2.1</TD><TD STYLE="text-align: left">Approval for engagement in the transactions mentioned in this Agreement has been obtained from other joint
owners of applicable properties (if any).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.2.2</TD><TD STYLE="text-align: left">Its acquisition of the 60% shares of Hitrans held by Meidu Graphene has the lawful approval by the authority
body of Meidu Graphene, the transfer price for those shares is fair, and there does not exist and will not occur any circumstances harmful
to the lawful rights of Meidu Graphene, Meidu Energy and their creditors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">4.2.3</TD><TD STYLE="text-align: left">It has the right to transfer the relevant Hitrans shares to CBAK Power. For the said transfer of shares,
there is no existence and there will not be any occurrence of circumstances that may result in a revocation or a restoration to original
state or a demand to CBAK Power for payment of damages, indemnity or any duty or obligation other than the payment obligation as agreed
under this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.2.4</TD><TD STYLE="text-align: left">Within 10 days from the date the 60% shares of Hitrans mentioned in Section 3.2 of this Agreement are
transferred to Party B in registration, Party B should procure resignations from the director(s) of Hitrans nominated by Meidu Graphene
or Meidu Energy (in the form of Appendix 9 to this Agreement). The said resignation shall include resignation of all duties of the director(s)
and release of any claim against Hitrans for any compensation or indemnity or request to Hitrans for any other obligation or duty. During
the said period, if another director(s) need to be elected, it would be based on the instructions of CBAK Power.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">4.2.5</TD><TD STYLE="text-align: left">Juzhong Daxin should, in accordance with its agreement with CBAK Power, use the security deposit of RMB20,000,000.00
for the transaction stipulated in this Agreement, and shall, prior to CBAK Power remitting the amount to the public account designated
by the Court under Section 1.1.1.2 of this Agreement, return RMB15,000,000.00 out of the security deposit to CBAK Power, and keep the
balance of RMB5,000,000.00, by at the request of CBAK Power the issuance of a value-added tax invoice in equal amount which invoice shall
note that the amount serves as liquidated damages. The information of the account of CBAK Power is as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.4pt; text-align: left; text-indent: -58.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">Account Holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">Bank:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">Account No.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.2.6</TD><TD STYLE="text-align: left">According to the Share Purchase Cooperation Framework Agreement executed between CBAK Power and Juzhong
Daxin, when New Era transfers the assets to Hitrans in registration and Junnan Ye pays all amounts due to Meidu Graphene, within 3 days
from the date of transfer of the shares to CBAK Power, CBAK Power shall pay all fees due to Juzhong Daxin under the Share Purchase Cooperation
Framework Agreement. Other than the foregoing, CBAK Power will not need to pay any other amounts or fees to Party B in respect of this
transaction.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">4.2.7</TD><TD STYLE="text-align: left">Party B agree that if CBAK Power has to fulfil any obligation to pay or to deduct tax payment on behalf
of anyone due to the performance of this Agreement, any such payment of Party B&rsquo;s tax obligation by CBAK Power can be deducted from
the costs to be paid by CBAK Power to Juzhong Daxin.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.2.8</TD><TD STYLE="text-align: left">Without the written consent of CBAK Power, Party B shall not, during the period of its holding of Hitrans
shares, change the composition of the authority bodies of Hitrans and shall not whether directly or indirectly create any third party
rights or make any arrangement to reduce or damage shareholder rights.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">4.2.9</TD><TD STYLE="text-align: left">Facilitate the settlement of the disputes stipulated in this Agreement and create favorable conditions
beneficial to the transactions contemplated hereby.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.1pt; text-align: left; text-indent: -53.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.3</TD><TD STYLE="text-align: left">Party C and Party D representations, warranties and covenants</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">4.3.1</TD><TD STYLE="text-align: left">Their engagement in the transactions mentioned in this Agreement have been approved by other joint owners
(if any) of applicable assets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.3.2</TD><TD STYLE="text-align: left">The transfer of 21.56% shares of Hitrans by Management Shareholders through Party B to CBAK Power has
been approved by the relevant authority bodies (applicable when company is the transferor), the consideration for this transaction is
fair, and there is no existence or occurrence of any circumstances that would harm the lawful rights of relevant parties or their creditors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.3.3</TD><TD STYLE="text-align: left">Management Shareholders have the right to transfer the relevant shares of Hitrans indirectly to CBAK Power
in accordance with this Agreement. For the said transfer of shares, there is no existence and there will not be any occurrence of circumstancesthat
may result in a revocation or a restoration to original state or a demand to CBAK Power for payment of damages, indemnity or any duty
or obligation other than the payment obligation as agreed under this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.3.4</TD><TD STYLE="text-align: left">While being a shareholder, CBAK Power will maintain the stability of the core management team and technology
team of Hitrans, and the production and operation of Hitrans in order. Without the written consent of CBAK Power, Hitrans will not dispose
of its intellectual property rights, land use rights, property ownership rights, machinery equipment, pollution discharge permit and other
material core assets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.3.5</TD><TD STYLE="text-align: left">If CBAK Power is not able to get 81.56% shares of Hitrans as agreed, CBAK Power has the right within 1
month to choose to demand Party C or Party D to repurchase all the shares held by CBAK Power at an interest rate of 10% per annum (simple
interest) within 1 month. Share repurchase price = all investment by CBAK Power x (1 + 10%) x (number of days shares are held by CBAK
Power &divide;365). The repurchase price should be paid within 1 month. If CBAK Power is not able to get 81.56% shares of Hitrans as agreed,
and CBAK Power has not within 1 month demanded Party C or Party D to repurchase all the shares held by CBAK Power at the 10% per annum
interest rate (simple interest), then CBAK Power should compensate Management Shareholders with RMB11,000,000.00 and pay the same within
3 days.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.3.6</TD><TD STYLE="text-align: left">Facilitate the settlement of the dispute stipulated in this Agreement and create favorable conditions
beneficial to the transactions contemplated hereby.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">4.3.7</TD><TD STYLE="text-align: left">While CBAK Power holds Hitrans shares, Hitrans shall timely provide company operation and financial data
to the shareholders according to requirements of relevant laws.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: left"><U><A NAME="a_005"></A>Default</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.1pt; text-align: left; text-indent: -58.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.1</TD><TD STYLE="text-align: left">Any party (&ldquo;<B>Defaulting Party</B>&rdquo;) who does not perform any obligation according to this
Agreement or as agreed under any main or supplemental agreement or related agreement relating to or originating from the transactions
under the Agreement, or any party who makes any declaration, guarantee, agreement, representation and undertaking in this Agreement or
in the main or supplemental agreement or related agreement relating to or originating from the transactions under this Agreement, which
is proved to be false, the party shall be regarded to conduct a default. The Defaulting Party shall from the date of the default pay to
the Non-Defaulting Party liquidated damages calculated from the date of default at the rate of 10/10,000 per day on the amount paid or
on the amount unpaid (non-monetary debt shall be calculated according to the corresponding transaction consideration). If the default
is over 15 days, the Non-Defaulting Party has the right to unilaterally rescind this Agreement and demand the Defaulting Party to be responsible
for other damages caused by the default.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.2</TD><TD STYLE="text-align: left">All parties confirm and agree that the liquidated damages agreed under this Agreement are the reasonable
anticipation and calculation by all parties. All parties hereby waive their respective civil rights to request reduction of the said liquidated
damages.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.3</TD><TD STYLE="text-align: left">The Defaulting Party also have to be responsible for the damages to the Non-Defaulting Party caused by
the Defaulting Party&rsquo;s default, including, but not limited to, lawyer&rsquo;s fees, consultation fee, evaluation fee, execution
fee, litigation fee, audit or liquidation fee which the Non-Defaulting Party has to pay, as well as other extra expenses or costs which
the Non-Defaulting Party has to pay because relating transactions are forced to discontinue, terminate or postpone.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: left"><U><A NAME="a_006"></A>Dispute Resolution</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.1</TD><TD STYLE="text-align: left">Any dispute arising under this Agreement or relating to this Agreement, including but not limited to,
main and supplemental agreement relating to this Agreement and originating from the same transaction or same series of transaction, the
agreements in Appendixes, other agreements signed for the implementation of the present transactions, whether appearing before or after
the signing of this Agreement, whether the amount is big or small, all should be presented to Shanghai Arbitration Commission for arbitration
in ordinary procedures under the existing effective Shanghai Arbitration Commission Arbitration Rules. Arbitration award is final and
is binding upon all parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.2</TD><TD STYLE="text-align: left">Arbitration fee, valuation fee, notarization fee, lawyer&rsquo;s fee, preservation fee, travelling expenses,
and witness fee, etc., arising out of arbitration and all expenses relating to the case shall be borne by the losing party.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: left"><U><A NAME="a_007"></A>Notice</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.1</TD><TD STYLE="text-align: left">Any notice or other correspondence document sent from one party to the other parties under this Agreement
shall be in writing and written in Chinese.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.2</TD><TD STYLE="text-align: left">Unless otherwise agreed in this Agreement, any party sending notice under this Agreement can be by personal
delivery, recognized courier service, registered mail or electronic mail to the addresses of the parties:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">CBAK Power:&#9;designated
contacted person is</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Mailing
address:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Telephone:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Email:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Junnan Ye and Juzhong
Daxin: designated contacted person is Junnan Ye</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Mailing
address:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Telephone:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Email:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Haijun
Wu<FONT STYLE="font-family: Times New Roman, Times, Serif">&#12289;</FONT>Chunhong Shi: &#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Mailing
address:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Telephone:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Email:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Hitrans:&#9;designated
contacted person is Haijun Wu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Mailing
address:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Telephone:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Email:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.3</TD><TD STYLE="text-align: left">Any notice clearly stating the mailing address of the receiving party shall be deemed to have been duly
delivered at the following prescribed time:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">7.3.1</TD><TD STYLE="text-align: left">by personal delivery (including through recognized courier service), shall be deemed to have been duly
delivered upon delivery to the receiving party&rsquo;s mailing address, even if the receiving party refused to receive, it is still deemed
to have been delivered;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59pt; text-align: left; text-indent: -59pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">7.3.2</TD><TD STYLE="text-align: left">by registered mail, shall be deemed to have been delivered on the 7<SUP>th</SUP> day of posting;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59pt; text-align: left; text-indent: -59pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">7.3.3</TD><TD STYLE="text-align: left">notice sent by email shall be deemed to be duly delivered on the first business day after the sending
(the time recorded in the computer of the dispatching party) of the email;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59pt; text-align: left; text-indent: -59pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.4</TD><TD STYLE="text-align: left">Any party changing the above contact information must give advance notice to the other parties. The new
contact information mentioned in the notice shall be effective commencing from the following dates:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.5in">7.4.1</TD><TD STYLE="text-align: left">the effective date indicated in the notice; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">7.4.2</TD><TD STYLE="text-align: left">if no effective date is indicated or the indicated effective date is less than 10 days from the date of
issue of the notice, the change will become effective on the 10<SUP>th</SUP> day after the issue of the notice.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59pt; text-align: left; text-indent: -59pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: left"><U><A NAME="a_008"></A>Others</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59pt; text-align: left; text-indent: -59pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.1</TD><TD STYLE="text-align: left">This Agreement shall be effective on the date when all parties and their legal representative or authorized
agent have signed and the official seal stamped thereon.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.2</TD><TD STYLE="text-align: left">On the date when this Framework Agreement becomes effective, it will replace all matters agreed prior
to the signing of this Framework Agreement, and any negotiations through correspondence emails, letters, memorandum, WeChat, meetings,
etc. Also, if there is any conflict or inconsistency between any legal document signed by the above parties and this Framework Agreement,
this Framework Agreement shall prevail.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.3</TD><TD STYLE="text-align: left">If there are further details to this Agreement, the parties can sign a supplemental agreement. Supplemental
agreement and this Agreement have the same legal effect. If there is conflict between the supplemental agreement and this Agreement, the
supplemental agreement shall prevail.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.4</TD><TD STYLE="text-align: left">At the time of signing this Agreement, each party has a clear, accurate and full understanding and decision
of all the terms and conditions of this Agreement, and on this basis voluntarily and friendly negotiate and accept the rights, obligations
and duties agreed in this Agreement. The drafting or amending of this Agreement by any party or any interim documents cannot be construed
as proof or evidence to acquire or avoid rights, obligations or duties agreed under this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.5</TD><TD STYLE="text-align: left">This Agreement is executed in six counterparts, each party keeps one counterpart, and each counterpart
has the same legal effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: left; text-indent: -32.45pt">(no contents
below, signature page)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: left; text-indent: -32.45pt">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: center; text-indent: -32.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(<I>signature
page to the Framework Agreement Relating to Investment of Dalian CBAK Power<BR>
 Battery Co., Ltd. in Zhejiang Meidu Hitrans Lithium Battery
Technology Co., Ltd</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>Party A</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>DALIAN CBAK POWER BATTERY CO., LTD.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Seal: Dalian CBAK Power Battery Co., Ltd.</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 10%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 25%"><FONT STYLE="font-size: 10pt">Authorized Representative: </FONT></TD>
    <TD STYLE="text-align: left; width: 25%"><FONT STYLE="font-size: 10pt">/s/ Yunfei Li</FONT></TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>Party B</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt">/s/ <B>JUNNAN YE</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>HANGZHOU JUZHONG DAXIN ASSET MANAGEMENT CO., LTD.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Seal: Hangzhou Juzhong Daxin Asset Management Co., Ltd.</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Authorized Representative: </FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">/s/ Yunjun Luo </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp; &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>Party C</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt">/s/ <B>HAIJUN WU</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt">/s/ <B>CHUNHONG SHI</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp; &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>Party D</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>ZHEJIANG MEIDU HITRANS LITHIUM BATTERY TECHNOLOGY CO., LTD</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Seal: Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Authorized Representative: </FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">/s/ Haijun Wu</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-align: left; text-indent: -29.5pt">&nbsp;</P>


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<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.5pt; text-align: left; text-indent: -32.5pt">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.5pt; text-align: left; text-indent: -32.5pt"><A NAME="a_009"></A>Appendix
1: Enforcement Settlement Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(Enforcement Settlement Minutes referred to in Section
1 of this Agreement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>


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    <!-- Field: /Page -->

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.5pt; text-align: left; text-indent: -32.5pt">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.5pt; text-align: left; text-indent: -32.5pt"><A NAME="a_010"></A>Appendix
2: Civil Mediation Document and Hitrans&rsquo;s Shareholders Resolutions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(Civil Mediation Document referred to in Section
1.3.3 of this Agreement relating to the Hitrans Capital Increase Obligation Case and the Resolutions of Shareholders of Hitrans)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B><A NAME="b_001"></A>Appendix 3: Loan Agreement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">This Loan Agreement (&ldquo;this Agreement&rdquo;)
is executed on the ______ day of July 2021 by the following parties:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.6pt; text-align: left; text-indent: -120.6pt"><B>Lender (Party
A)</B>: Dalian CBAK Power Battery Co., Ltd. (hereinafter referred to as &ldquo;CBAK Power&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">Legal
Representative: Yunfei Li</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.6pt; text-align: left; text-indent: -120.6pt"><B>Borrower
(Party B)</B>: Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd (hereinafter referred to as &ldquo;Hitrans&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">Legal Representative:
Haijun Wu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: left; text-indent: -92.15pt"><B>Clause
1 <U>Purpose of the Loan</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">The purpose of the loan under this Agreement is to be entirely used to pay the consideration for the purchase
of the assets (Attachment 1) of New Era Group Zhejiang New Energy Materials Co., Ltd. by Hitrans.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">Without the written consent of CBAK Power, Hitrans cannot change the purpose of the loan confirmed under
this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: left; text-indent: -35.45pt"><B>Clause
2 <U>Loan Amount and Maturity Date</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">The loan amount under this Agreement is RMB One Hundred and Thirty One Million Thirty Nine Thousand Three
Hundred and Seventy Eight (CNY131,039,378.00) (if words and figures are not the same, words prevail, same for below).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">All parties under this Agreement unanimously agree that from the date CBAK Power remitted the fund into
Shaoxing Intermediate People&rsquo;s Court&rsquo;s public account, the loan is deemed to have been released.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left">The term of the loan under this Agreement is 21 days from the actual date of the release of the funds.
Bank transfer records are the accurate evidence of the actual funds release date and repayment date. Bank transfer records form part of
this Agreement and have the same legal effect as this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: left; text-indent: -35.45pt"><B>Clause
3 <U>Conditions for the Loan</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The following conditions must be satisfied before
the remittance of funds by CBAK Power into the Shaoxing Intermediate People&rsquo;s Court&rsquo;s public account:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">CBAK Power already legally holds 21.56% of Hitrans&rsquo;s shares and has already obtained proof of share
registration issued by the Administration for Industry and Commence and has become a shareholder of Hitrans.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">CBAK Power, according to its company articles, U.S. Nasdaq Securities Listing Rules and regulations of
related regulatory authorities, has approved this Agreement and the related series of transactions under this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: left; text-indent: -35.45pt"><B>Clause
4 <U>Loan Interest</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">During the term of the loan under this Agreement, if</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: left">CBAK Power is able to obtain at least 81.56% shares of Hitrans and obtain share registration proof issued
by the Administration for Industry and Commerce, then the loan will be interest free;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: left">CBAK Power is not able to obtain at least 81.56% shares of&#9;Hitrans
and does not acquire share registration proof issued by the Administration for Industry and Commerce, then the interest rate for the
said loan shall be 4 times of the one-year loan prime rate (LPR) announced by National Interbank Funding Center, from the actual date
of release of the loan until &#9;Hitrans has fully repaid the above loan principal and interest;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: left">If during the term of the loan, CBAK Power transfers its creditor&rsquo;s rights mentioned in this Agreement,
then the balance of the loan amount after the loan transfer shall be subject to loan interest at 6% per annum, the term of the balance
of the loan amount shall be changed and extended to 1 year from the effective date of the transfer of the creditor&rsquo;s rights.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: left; text-indent: -63.8pt"><B>Clause 5 <U>Undertakings
and Covenants</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">Undertakings and covenants of Hitrans</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: left">Access and use the loan in accordance with the deadlines and purpose outlined in this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: left">Ensure the truthfulness, accuracy, and completeness of the materials provided to CBAK Power for the grant
of this loan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: left">Repay the loan principal and interest in full in accordance with the terms of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: left">If proceeding with contract leasing, share ownership reform, joint venture, merger, consolidation, joint
funding, separation, reduction of capital, share right change, major asset transfer and other actions which will affect the implementation
of the rights of CBAK Power, should give at least 30-day prior written notice to CBAK Power and obtain the written consent from CBAK Power,
or otherwise, must not proceed with the above actions prior to the repayment in full of all of the debt liabilities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: left">CBAK Power must be given written notice within seven days of a change of residence, mailing address, business
scope, legal representative, or matters of industry and commerce registration.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(6)</TD><TD STYLE="text-align: left">Written notice must immediately be given to CBAK Power, if any event happens that would cause danger to
its normal operation or would adversely affect the obligation to repay the loan under this Agreement, including but not limited to major
financial disputes, bankruptcy, deteriorating financial conditions, etc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(7)</TD><TD STYLE="text-align: left">CBAK Power must be provided written notice with five days of the temporary or permanent closing of business,
dissolution of business, halting of business for reorganization, or the revocation/cancellation of one&rsquo;s business license.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: left; text-indent: -63.8pt"><B>Clause 6 <U>Default</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">Under this Agreement, any one party (&ldquo;Defaulting Party&rdquo;) who is not able to perform any of
its obligations according to this Agreement or who makes any declaration, warranties, agreement, representations and undertaking in this
Agreement which is proved to be false or there is anything which may cause the implementation of the creditor&rsquo;s rights of CBAK Power
under this Agreement to be threatened or suffer major damages, these shall be regarded as a default.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">The Non-Defaulting Party has the right to
demand in writing the Defaulting Party to correct and implement remedial measures according to the demands of the Non-Defaulting Party.
If the Defaulting Party does not promptly correct and implement remedial measures, they must pay the Non-Defaulting Party liquidated
damages equivalent to 5/10,000 of the loan amount of RMB One Hundred and Thirty One Million Thirty Nine Thousand Three Hundred and Seventy
Eight (CNY131,039,378.00) for each day of delay. All parties confirm and agree that all parties waive their respective rights to apply
for an increase or reduction of the said liquidated damages and there is no need to prove direct or indirect loss.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left">The Defaulting Party also must assume responsibility for all the damages suffered by the Non-Defaulting
Party resulting from the Defaulting Party&rsquo;s default, including but not limited to : lawyer&rsquo;s fees, consultation fees, evaluation
fees, implementation fees, litigation fees, audit or liquidation fees which the Non-Defaulting Party has to pay, as well as other extra
expenses or costs which the Non-Defaulting Party has to pay because relating transactions are forced to be discontinued, terminated or
postponed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: left; text-indent: -35.45pt"><B>Clause
7 <U>Force Majeure</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">Force majeure events mentioned in this Agreement refer to any event which a party is unable to reasonably
control, unforeseeable or even if it is foreseeable is unavoidable and impossible to surmount, and appears after the execution of this
Agreement, causing the total or partial performance of this Agreement objectively impossible or unrealistic, including but not limited
to epidemic, flooding, fire, typhoon, earthquake and other natural disasters, strike, disturbance, riot and war (whether or not war declared)
etc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">If force majeure event occurs, the affected party should immediately use the fastest method to notify
the opposite party, and within 15 days after the date of the force majeure event provide sufficient evidence to prove the following facts:
their inability to fulfill their obligations due to obstructions which they could not control and at the time of execution of the Agreement
could not reasonably foresee or its effects on their capacity to perform, and they were unable to reasonably avoid and surmount the said
obstruction or its effects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left">When any party cannot perform this Agreement due to a force majeure event, part or all obligations can
be exempted according to the effects of the force majeure event, unless otherwise provided in law or regulations. If a force majeure event
occurs after one party delays in performance, obligation cannot be exempted.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: left">The party suffering from force majeure should, after they know about such an obstruction and its effect
on their capacity to perform, notify all other parties as soon as reasonably possible, and submit to the other parties reliable third-party
proof about the suffering caused by the force majeure event and a reasonable assessment of the scope of the influence of the force majeure
and its duration. The party affected has the duty to take all kind of commercially reasonable measures to surmount the effects of the
force majeure event and resume their performance in accordance with the Framework Agreement. When force majeure element is removed, it
should also inform the other parties. If unable to send notice, then that party cannot exempt liabilities due to force majeure.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: left">The party suffering from force majeure should take all necessary measures to reduce loss suffered as a
result of the force majeure, and after the event&rsquo;s conclusion immediately resume the performance of this Agreement, unless such
performance is impossible or unnecessary. If one party is unable to perform their obligations under this Agreement, the other parties
should have the right to terminate part or whole of the Agreement. When a party terminates the agreement, they should send agreement termination
notice to the other party.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: left">All parties agree that if the force majeure event and the resulting consequences continue to exist for
90 days (starting from the date the force majeure event occurs) which causes either both parties or any one party to suffer great financial
loss and both parties are not able to agree on a corresponding solution method or remedial measures, then any one party has the right
to unilaterally terminate this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: left; text-indent: -35.45pt"><B>Clause
8 <U>Dispute Resolution</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">Any dispute arising under this Agreement or relating to this Agreement, including but not limited to,
transactions originating from or related to this agreement or same series of transaction and related agreements; regardless of whether
appearing before or after the signing of this Agreement, regardless of the size of the amount, all should be presented to Shanghai Arbitration
Commission for arbitration via ordinary procedures. The arbitration award is final and is binding upon all parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">The arbitration fees, evaluation fees, notarization fees, legal fees, preservation fees, travelling expenses,
witness fees etc. arising out of arbitration and all expenses relating to the case shall be borne by the losing party.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: left; text-indent: -35.45pt"><B>Clause
9 <U>Notice</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">Any notice or other correspondence document (hereinafter collectively referred to as &ldquo;notice&rdquo;)
sent from one party to the other parties under this Agreement shall be in writing and written in Chinese.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">Unless otherwise agreed in this Agreement, any party sending notice under this Agreement can be by personal
delivery, recognized courier service, registered mail or electronic mail to the following addresses of the parties:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">Hitrans: designated
person of contact is Chunhong Shi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">Mailing
address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">Telephone:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">Email:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left">Any notice clearly stating the mailing address of the receiving party shall be deemed to have been duly
delivered at the following prescribed time:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: left">by personal delivery (including through recognized courier service), shall be deemed to have been duly
delivered upon delivery to the receiving party&rsquo;s mailing address, even if the receiving party refused to receive, it is still deemed
to have been delivered;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: left">by registered mail, shall be deemed to have been delivered
on the 7<SUP>th</SUP> day after posting;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: left">notice sent by email shall be deemed to be duly delivered
on the first working day after the sending (the time recorded in the computer of the dispatching party) of the email;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: left">Any party changing the above correspondence information must give advance notice to the other parties,
the new correspondence information mentioned in the notice shall be effective commencing from the following dates:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: left">the effective date indicated in the notice; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: left">if no effective date is indicated or the indicated effective date is less than 10 days from the date of
issue of the notice, the change will be effective on the 10<SUP>th</SUP> day after the issue of the notice.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: left; text-indent: -35.45pt"><B>Clause
10 <U>Effectiveness, Modification and Termination</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.7pt; text-align: left; text-indent: -63.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">This Agreement is effective after all parties&rsquo; legal representative, responsible person or authorized
agent have signed the Agreement and affixed the official seal thereon.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">If any clause or part of the content of any term is or will in future become invalid, the said invalid
clause or the said invalid part will not affect the validity of this Agreement and the other terms or the other contents of the said clause.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left">If there are further details to this Agreement, the parties can sign a supplemental agreement. Supplemental
agreements and this Agreement have the same legal effect. If there is conflict between the supplemental agreement and this Agreement,
the supplemental agreement shall prevail.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: left">If this Agreement cannot be performed or cannot be totally performed due to law, regulations or change
of government policy, upon unanimous agreement of all parties, this Agreement can be terminated partly or entirely. The damages caused
thereby shall be shared among the parties based on fair negotiation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: left">Use of information of Hitrans</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt">Hitrans agrees
to authorize CBAK Power to contact Basic Database of Financial Credit Information and credit bureaus approved by People&rsquo;s Bank of
China to inquire about the credit record of Hitrans and also agrees that CBAK Power can provide credit information concerning Hitrans
to the Basic Database of Financial Credit Information and credit bureaus approved by People&rsquo;s Bank of China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: left">Hitrans agrees that CBAK Power has the right without separate confirmation/consent from Hitrans to reveal
voluntarily or upon reasonable request any material information or data of Hitrans any time to financial institutions, intermediary service
agency, district share markets, internet financial platforms and investors relating to financing under the main agreement and relative
regulatory authorities, government authorities and self-regulatory associations within the industry.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: left">All obligations and duties of Hitrans under this Agreement have continuity and is totally binding upon
its successor, receiver, assignee and the corporate body after a merger, reorganization, or change of name etc., and will not be affected
by any dispute, claim and legal procedure and direction from a superior power and any agreement or document executed between the main
agreement creditor and any natural person or legal person, and will not have any change because the debtor under the main agreement is
bankrupt, has no ability to repay debts, has lost business qualifications, change incorporation article or there is occurrence of any
inherent change.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: left">This Agreement is in two counterparts, each party keeps one counterpart, and each counterpart has equal
legal effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: left">Attachment: Asset Particulars</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: 0.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">(no contents
below, signing page)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: 0.05pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">(Signature Page)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">When executing this Agreement, each party shall
have read all of the provisions of the Agreement, hold no dissent, and have an accurate understanding of the legal relationships between
the parties and the rights and obligations prescribed by the provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Lender: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt"><B>Dalian CBAK
Power Battery Co., Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">Seal: Dalian
CBAK Power Battery Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">Legal Representative
(or authorized representative): /s/ Yunfei Li</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">&nbsp;</P>

<P STYLE="margin: 0"> <B>Borrower</B>:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt"><B>Zhejiang Meidu
Hitrans Lithium Battery Technology Co., Ltd</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">Seal: Zhejiang
Meidu Hitrans Lithium Battery Technology Co., Ltd</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.05pt">Legal Representative:/s/
Haijun Wu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.5pt; text-align: left; text-indent: -120.5pt">Attachment:
Asset Particulars</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B><A NAME="b_002"></A>Appendix 4: Assets Purchase
Agreement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.35pt; text-align: left; text-indent: -84.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">This Agreement is executed by the following parties
this 20<SUP>th</SUP> day of July 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.45pt; text-align: left; text-indent: -84.45pt"><B>Seller</B>:
Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd&#9;(hereinafter referred to as &ldquo;Hitrans&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Legal Representative</B>: Haijun Wu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Purchaser</B>: Dalian CBAK Power Battery Co.,
Ltd. (hereinafter referred to as &ldquo;CBAK Power&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.35pt; text-align: left; text-indent: -84.35pt"><B>Legal Representative</B>:
Yunfei Li</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.4pt; text-align: left; text-indent: -84.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.1pt"><B>WHEREAS:</B></TD><TD STYLE="text-align: left"></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: left; text-indent: -0.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">At the time of signing of this Agreement, CBAK Power and Hitrans has already executed the Framework Agreement
Relating to Dalian CBAK Power Battery Co., Ltd.&rsquo;s Investment in Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd (hereinafter
referred to as &ldquo;Framework Agreement&rdquo;) and &ldquo;Settlement Agreement Regarding the Enforcement Proceeding of (2020) Zhejiang
06 Zhi No. 444&rdquo; (hereinafter referred to as &ldquo;Settlement Agreement&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: left; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">Upon the satisfication of the conditions precedent agreed in the Framework Agreement and the Settlement
Agreement, CBAK Power shall advance a loan of RMB131,039,378.00 to Hitrans so as to pay the asset purchase consideration payable by Hitrans
to New Era Group Zhejiang New Energy Materials Co., Ltd. (hereinafter referred to as &ldquo;New Era&rdquo;) under the Settlement Agreement.
Within 35 days from the date the said loan is remitted into the public account of the enforcement Court (Zhejiang Shaoxing Intermediate
People&rsquo;s Court), the above assets of New Era transferred to Hitrans shall have their registration changed to under the name of Hitrans
free from encumbrances and third party rights (save and except those disclosed in that Asset Transfer Agreement) according to the Settlement
Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: left; text-indent: -35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left">Hitrans agrees that if CBAK Power is not able to obtain 81.56% shares of Hitrans as agreed, then the relating
assets owned at that time by Hitrans as agreed under this Agreement shall be used to repay the above loan amount. Therefore, all parties
upon negotiation, have reached the following agreements, to be abide by the parties:</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>I.</B></TD><TD STYLE="text-align: left"><B>Object of Sale and Purchase (that is the assets to be purchased by Hitrans from New Era under the Settlement
Agreement)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53pt; text-align: left"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: top; width: 5%; text-align: left">No.</TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: top; width: 14%; text-align: center">Name</TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: top; width: 60%; text-align: center">Serial No. and Details</TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: top; width: 18%; text-align: center">Consideration</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">1.</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">Immovable Property</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">Real estate certificate 0030391 (former state-owned Land use right certificate, Shangyu City State-owned (2012) No. 09842; Original Building Ownership Certificate: <BR>Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263316, <BR>Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263309, <BR>Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263306, <BR>Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263307, <BR>Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263311, <BR>Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263312, <BR>Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263308, <BR>Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263313, <BR>Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263310, <BR>Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263314, <BR>Four Cobalt real estate (no certificate), Calcined real estate (powder workshop 2) (no certificate), Powder Workshop (no certificate), Wet Method Phase I Civil Engineering (no certificate), environmental protection online monitoring room (no certificate))</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">RMB95,471,827.00</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">2.</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">Machinery Equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">mainly include equipment used in production, including new battery materials burning furnace, ammonia nitrogen content water treatment and recycle ammonia water resources <BR>utilization system, pure water preparation system, power facilities, etc.</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">RMB26,870,451.00</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">3.</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">Project Under Construction</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">environmental project</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">RMB540,562.00</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">4.</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">Pollution Discharge Permit</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">Certificate No. 913306044780463953W001P <BR>Valid period: 24th August 2020 ~ 23rd August 2023</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">RMB8,156,538.00</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>II.</B></TD><TD STYLE="text-align: left"><B>Execution, Effectiveness and Asset Purchase</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: left; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">This Agreement is entered into upon execution by legal representative or authorized representative of
both parties and official stamp affixed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: left; text-indent: -63.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">If CBAK Power shall not be able to obtain 81.56% shares of Hitrans according to the provisions of the
Framework Agreement, then CBAK Power has the right to decide this Assets Purchase Agreement to be effective immediately, which shall be
based on the written notice by CBAK Power at that time.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.4pt; text-align: left; text-indent: -58.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left">After this Assets Purchase Agreement becomes effective, CBAK Power has the right to choose one or any
number of the following ways to handle this matter:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.4pt; text-align: left; text-indent: -58.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: left">If all or part of the above target assets are transferred to under the name of Hitrans, then Hitrans should,
according to the request of CBAK Power, transfer the said assets to under the name of CBAK Power or its designated related party, so as
to offset the corresponding loan. The amount to be offset shall be determined according to the asset purchase consideration agreed in
section 1.1 of the Framework Agreement and Settlement Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.35pt; text-align: left; text-indent: -84.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: left">If the above target assets are not able to be totally transferred, and the corresponding purchase price
provided by CBAK Power according to section 1.1 of the Framework Agreement is not returned, then CBAK Power has the right to request Hitrans
to transfer to CBAK Power the corresponding asset purchase rights, and Hitrans shall assist CBAK Power to obtain recovery or to demand
specific performance from related responsible parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.35pt; text-align: left; text-indent: -84.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: left">CBAK Power can also choose that Hitrans shall commence recovery or demand specific performance from related
responsible parties, and to transfer to CBAK Power all the assets mentioned in section 1.1 of the Framework Agreement after Hitrans has
obtained the same.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: left; text-indent: -63.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>III.</B></TD><TD STYLE="text-align: left"><B>Others</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: left; text-indent: -63.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left">This Agreement as an attachment to the Framework Agreement is an integral part of the Framework Agreement.
The terms in the Framework Agreement relating to Default Obligation, Dispute Resolution and Notice apply to this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: left; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: left">If there are matters that this Agreement fails to cover, the parties can sign a supplemental agreement.
Supplement agreement and this Agreement have the same legal effect. If there is conflict between the supplemental agreement and this Agreement,
the supplemental agreement shall prevail.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: left; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: left">This Agreement is executed in duplicate, each party keeps one counterpart, and each counterpart has the
same legal effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: left; text-indent: -32.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: left; text-indent: -32.45pt">(no contents
below, signature page)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: left; text-indent: -32.45pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: left; text-indent: -32.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: left; text-indent: -32.45pt">(Signature
Page)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: left; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 100%"><FONT STYLE="font-size: 10pt"><B>Zhejiang Meidu Hitrans Lithium Battery Technology Co.,
    Ltd</B> </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Seal: Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Authorized Representative: /s/ Haijun Wu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 100%"><FONT STYLE="font-size: 10pt"><B>Dalian CBAK Power Battery Co., Ltd.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Seal: Dalian CBAK Power Battery Co., Ltd.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Authorized Representative: /s/ Yunfei Li</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>


<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.5pt; text-align: left; text-indent: -32.5pt"><A NAME="a_011"></A>Appendix
5: Form of Hitrans&rsquo;s Shareholders Resolutions Approving the Loan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(Form of Resolutions of Shareholders of Hitrans
approving the Loan and relevant matters referred to in Section 2.3 of this Agreement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B><A NAME="b_003"></A>Appendix 6: Share Transfer
Agreement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: left; text-indent: -92.25pt"><B>Transferor</B>:
Junnan Ye</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: left; text-indent: -92.25pt"><B>Transferee</B>:
Dalian CBAK Power Battery Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: left; text-indent: 35.35pt">Transferor and
Transferee, through friendly negotiation, have executed the following agreement relating to the transfer by Transferor of his shares in
Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd to Transferee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: left; text-indent: -0.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1pt"></TD><TD STYLE="width: 35.35pt">1.</TD><TD STYLE="text-align: left">Transferor shall transfer 21.56% shares of Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd
held by him to Transferee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1pt"></TD><TD STYLE="width: 35.35pt">2.</TD><TD STYLE="text-align: left">For this transfer of shares, the transfer consideration is RMB40,744,376.00.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1pt"></TD><TD STYLE="width: 35.35pt">3.</TD><TD STYLE="text-align: left">Relating to the unpaid subscribed capital for this shares transfer, Transferee shall fully pay the same
according to the agreed schedule.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1pt"></TD><TD STYLE="width: 35.35pt">4.</TD><TD STYLE="text-align: left">After the transfer of shares, Transferor no longer enjoys the shareholder&rsquo;s rights nor undertakes
the corresponding shareholder&rsquo;s obligations; Transferee shall, according to this Agreement, enjoy the shareholder&rsquo;s rights
and at the same must undertake the shareholder&rsquo;s obligation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1pt"></TD><TD STYLE="width: 35.35pt">5.</TD><TD STYLE="text-align: left">This Agreement shall be effective upon execution by the parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt"><B>Transferor:
</B>/s/ Junnan Ye</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>Transferee</B>:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Seal: Dalian
CBAK Power Battery Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.15pt">Authorized Representative: /s/ Yunfei Li</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 80%"></TD><TD STYLE="text-align: left; width: 20%"><B>Date:</B></TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>





<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><A NAME="a_012"></A>Appendix 7:
Form of Hitrans&rsquo;s Shareholders Resolutions and Charter Amendment Regarding CBAK Power&rsquo;s Acquisition of 21.56% Shares</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(Form of Shareholders Resolutions of Hitrans relating
to Junnan Ye&rsquo;s Transfer of 21.56% Shares of Hitrans to CBAK Power, Waiver of Rights of First Refusal and Amended Company Charter
as referred to in Section 3.1.2 of this Agreement) </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 36 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B><A NAME="b_004"></A>Appendix 8: Share Transfer
Agreement</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><B>Transferor</B>:
Junnan Ye</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><B>Transferee</B>:
Dalian CBAK Power Battery Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.05pt; text-align: left; text-indent: -92.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1pt; text-align: left; text-indent: 0.25in">Transferor and
Transferee, through friendly negotiation, have executed the following agreement relating to the transfer by Transferor of his shares in
Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd to Transferee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: left; text-indent: -0.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: left">Transferor shall transfer 60% of shares responsive to RMB24,000,000.00 in subscribed capital (of which
RMB8,500,000.00 is unpaid) of Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd held by him to Transferee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: left">For this transfer of shares, the transfer consideration is RMB118,000,000.00. Transferor shall, within
2 days from the date of receipt of any part of the transfer consideration, transfer the same amount of money into the bank account of
Zhejiang Meidu Graphene Technology Co., Ltd.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: left">As to the unpaid subscribed capital in connection with this shares transfer, Transferee shall fully pay
the same according to the agreed schedule.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: left">After the transfer of shares, Transferor no longer enjoys the shareholder&rsquo;s rights nor undertakes
the corresponding shareholder&rsquo;s obligations; Transferee shall, according to this Agreement, enjoy the shareholder&rsquo;s rights
and at the same must undertake the shareholder&rsquo;s obligation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: left">This Agreement shall be effective upon execution by the parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt"><B>Transferor:</B>&nbsp;/s/
Junnan Ye</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: left; text-indent: -35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>Transferee</B>:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Seal: Dalian
CBAK Power Battery Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Authorized Representative: /s/ Yunfei Li</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"> <B>Date:&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;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 6in; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>




<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 37 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><A NAME="a_013"></A>Appendix 9:
Form of Hitrans&rsquo;s Shareholders Resolutions and Charter Amendment Regarding CBAK Power&rsquo;s Acquisition of 60% Shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(Form of Hitrans&rsquo;s Shareholders Resolutions
and Charter Amendment Relating to Junnan Ye&rsquo;s transfer of 60% shares of Hitrans to CBAK Power as referred to in Section 3.2.2 of
this Agreement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>


<!-- Field: Page; Sequence: 38 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.5pt; text-align: left; text-indent: -32.5pt">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.5pt; text-align: left; text-indent: -32.5pt"><A NAME="a_014"></A>Appendix
10: Form of Resignation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(Form of Resignation as referred to in Section 4.2.4
of this Agreement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ea144728ex10-2_cbakenergy.htm
<DESCRIPTION>FORM OF LOAN REPAYMENT AGREEMENT
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LOAN REPAYMENT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">This Agreement is executed by the following parties
this ______ day of July 2021</P>

<P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><B>Party A</B>:
Junnan Ye</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><B>Party B</B>:
Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd (hereinafter referred to as &ldquo;Party B&rdquo; or &ldquo;Hitrans&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><B>Party C</B>:
Dalian CBAK Power Battery Co., Ltd. (hereinafter referred to as &ldquo;Party C&rdquo; or &ldquo;CBAK Power&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.45pt; text-align: justify; text-indent: -84.45pt"><B>Party D</B>:
Haijun Wu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 110.45pt; text-align: justify; text-indent: -110.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 110.55pt"><B>WHEREAS</B>:</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 110.45pt; text-align: justify; text-indent: -110.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: left">Party A and Zhejiang Meidu Graphene Technology Co., Ltd. (hereinafter referred to as &ldquo;Meidu Graphene&rdquo;)
have executed certain Share Transfer Agreement agreeing that Meidu Graphene shall transfer 60% shares of Party B held by it to Party A,
and Party A shall pay the shares transfer consideration of RMB118,000,000.00 to Meidu Graphene.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: left">Party A, Party B, Party C and Party D have executed that Framework Agreement Relating to CBAK Power&rsquo;s
Investment in Hitrans pursuant to which CBAK Power shall accept transfer of 60% shares of Hitrans which Party A obtained from Meidu Graphene,
and the consideration is RMB118,000,000.00.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: left">CBAK Power has lent (in words) RMB One Hundred Thirty One Million Thirty Nine Thousand Three Hundred and
Seventy Eight (in figures) RMB131,039,378.00 to Hitrans to be used to purchase the assets of New Era Group Zhejiang New Energy Materials
Co., Ltd., thus creating CBAK Power&rsquo;s creditor&rsquo;s rights against Hitrans.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: left">CBAK Power agrees to transfer creditor&rsquo;s right against Hitrans in the sum of RMB118,000,000.00 to
Party A so as to pay equal value consideration for the above 60% share transfer, that is, Hitrans repays debt of RMB118,000,00.00 to Party
A.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">Therefore,
Parties A, B, C and D have reached repayment agreement as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><B>I.</B></TD><TD STYLE="text-align: justify"><B><U>Maturity Date and Interest</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: left">Within 2 months from New Era Group Zhejiang New Energy Materials Co., Ltd. having transferred the land,
real estate, machinery equipment, pollution discharge permit etc. to Party B, Party B should repay not less than RMB70,000,000.00 to Party
A; the balance should be repaid completely before 31<SUP>st</SUP> December 2021.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: left">If repayment of the amounts is made within the prescribed time, Party B shall pay to Party A fixed interest
of RMB3,500,000.00. If early repayment is made, interest will be reduced by RMB500,000.00. If repayment is over one month earlier than
the prescribed time, interest will be reduced by RMB1,000,000.00.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in; text-align: left"><B>II.</B></TD><TD STYLE="text-align: justify"><B><U>Party B Covenants</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: left">Party B undertakes to use all assets such as land, real estate, pollution discharge permit etc. owned
by it under its name to apply to the bank for loan advance and to use the loan obtained first to repay the debt due to Party A. At the
same time, Party B undertakes that proceeds from equity financing shall first be used to repay the debt due to Party A.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: left">Party B has full power to execute this Agreement and has obtained all the power, authority and approval
to execute the Agreement and perform the obligations. Party B must not claim this Agreement to be invalid or revocation due to procedural
issues.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><B>III.</B></TD><TD STYLE="text-align: justify"><B><U>Party C Guarantee</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: left">Party C should supervise and urge Party B to timely perform the debt obligations under this Agreement.
Party C should guarantee that the amounts obtained by Party B from bank loan shall entirely be used to repay the debt due by Party B to
Party A, and shall not be misappropriated for other purposes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: left">Party C voluntarily agrees to provide joint and several liabilities guarantee for Party B, and shall perform
all obligations which Party B shall legally undertake, until all the rights of Party A have been materialized.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><B>IV.</B></TD><TD STYLE="text-align: justify"><B><U>Deposit</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="margin: 0 0 0 0.25in"> To guarantee the performance of this repayment agreement, Haijun Wu has to provide a deposit of RMB1,000,000.00 to Party A. Rules for deposits are applicable to this deposit.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

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<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><B>V.</B></TD><TD STYLE="text-align: justify"><B><U>Default</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: left">If Party B fails to make timely repayment as agreed or violates any of the covenants or undertakings in
this Agreement, this will immediately constitute default. In addition to the fixed interest and additional interest it must pay, it also
has to be responsible for payment of liquidated damages per day at the rate of 5/10,000 on unpaid amount until principal and interest
are fully paid. Party B confirms that Party B has made reasonable anticipation and calculation for the liquidated damages agreed under
this Agreement. Party B waives its civil right to adjust the said liquidated damages and unconditionally undertakes that Party B waives
any defense that requests the Court to reduce interest and liquidated damages.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: left">Besides interest and liquidated damages, the Defaulting Party also has to be responsible for lawyer&rsquo;s
fee, consultation fee, evaluation fee, notarial fee, preservation fee, litigation fee, enforcement fee, audit fee, valuation fee incurred
by Party A in respect of this matter and all other damages caused by this matter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><B>IV.</B></TD><TD STYLE="text-align: justify"><B><U>Dispute Resolution</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: left">If Party B violates the terms of this Agreement, Party A may directly initiate Court proceedings. All
parties agree that the People&rsquo;s Court at the residence of Party A shall have jurisdiction in this matter.&#9;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><B>IIV.</B></TD><TD STYLE="text-align: justify"><B><U>Supplements and Others</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: left">Upon unanimous agreement by all parties, this Agreement can be amended according to relative change of
circumstances. The amended terms should be confirmed in writing. Other modes, such as verbal or recording etc. are all invalid.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: left">After the execution, this Agreement shall become effective upon the date Party C completes the acquisition
of 60% shares of Hitrans held by Meidu Graphene.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: left">This Agreement is executed in four counterparts, each party keeps one counterpart, and each counterpart
has same effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">(below is signing
page, no contents)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: 0pt"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">(signature
page)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">Party A (signature): &nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Party B (seal): <BR>
Party B&rsquo;s Authorized Representative: &nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Party C (seal):<BR>
 Party C&rsquo;s Authorized Representative: &nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Party D (signature): &nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.45pt; text-align: justify; text-indent: -32.45pt"></P>

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<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>ea144728ex99-1_cbakenergy.htm
<DESCRIPTION>PRESS RELEASE
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CBAK Energy Announces Framework Agreement to
Acquire Majority Stake in Zhejiang Meidu Hitrans</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="color: #212529; background-color: white">DALIAN,
China,&nbsp;July 26, 2021&nbsp;/</FONT><FONT STYLE="color: #053A4F; background-color: white">PRNewswire</FONT><FONT STYLE="color: #212529; background-color: white">/
--&nbsp;CBAK Energy Technology, Inc. (NASDAQ: CBAT) (&quot;CBAK Energy,&quot; or the &quot;Company&quot;), a leading lithium-ion battery
manufacturer and electric energy solution provider in China, today announced that its wholly-owned subsidiary </FONT>Dalian CBAK Power
Battery Co., Ltd. (&ldquo;CBAK Power&rdquo;) <FONT STYLE="color: #212529; background-color: white">has entered into a framework agreement
to acquire a majority stake in Zhejiang Meidu Hitrans Lithium Battery Technology Co. (&ldquo;Hitrans&rdquo;), a leading lithium-ion battery
material supplier in China. </FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="color: #212529; background-color: white">CBAK
Power will acquire 81.56% of the equity interests of Hitrans currently held by </FONT>Zhejiang Meidu Graphene Technology Co. and Hitrans&rsquo;s
management shareholders <FONT STYLE="color: #212529; background-color: white">for an aggregate consideration of approximately RMB158.74
million (approximately $24.50 million). The transaction is subject to </FONT><FONT STYLE="color: #333333; background-color: #FEFEFE">certain
closing conditions</FONT><FONT STYLE="color: #212529; background-color: white">, and CBAK Power aims to complete the acquisition in the
third quarter of 2021. </FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: #212529"><FONT STYLE="background-color: white">Hitrans
was established in December 2015 to engage in the research and development, production, as well as sales of ternary precursors and anode
materials. Additionally, Hitrans was one of the key suppliers of the Company in fiscal 2020. Through the acquisition, the Company expects
to further strengthen its supply chain and competitiveness in the high-power lithium battery market. </FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529"><B>About
CBAK Energy</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; background-color: white; color: #212529">CBAK
Energy Technology, Inc. is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy
high power lithium batteries. The applications of the Company's products and solutions include electric vehicles, light electric vehicles,
electric tools, energy storage, uninterruptible power supply (UPS), and other high-power applications. In&nbsp;January 2006, CBAK Energy
became the first lithium battery manufacturer in&nbsp;China&nbsp;listed on the Nasdaq Stock Market. CBAK Energy has multiple operating
subsidiaries in&nbsp;Dalian&nbsp;and&nbsp;Nanjing, as well as a large-scale R&amp;D and production base in&nbsp;Dalian.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="color: #212529">For
more information, please vi<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">sit</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;www.cbak.com.cn.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529"><B>Safe
Harbor Statement</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; background-color: white; color: #212529">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 &quot;forward-looking statements&quot; relating to
the business of CBAK Energy Technology, Inc. and its subsidiary companies, which can be identified by the use of forward-looking terminology
such as &quot;believes&quot;, &quot;expects&quot; or similar expressions, involve known and unknown risks and uncertainties which could
cause actual results to differ materially. These factors include but are not limited to: the ability of the Company to meet its contract
or agreement obligations; the uncertain market for the Company's lithium battery cells; business, macroeconomic, technological, regulatory,
or other factors affecting the profitability of battery cells designed for energy storage; and risks related to CBAK Energy's business
and risks related to operating in&nbsp;China. Please refer to CBAK Energy's most recent Annual Report on Form 10-K, as well as other SEC
reports that have been filed since the date of such annual report, for specific details on risk factors. Given these risks and uncertainties,
you are cautioned not to place undue reliance on forward-looking statements. CBAK Energy's actual results could differ materially from
those contained in the forward-looking statements. CBAK Energy 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 unless expressly requested by applicable law.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529"><FONT STYLE="background-color: white"><B>For
investor and media inquiries, please contact:</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529">In China:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="color: #212529">CBAK
Energy Technology, Inc.<BR>
Investor Relations Department<BR>
Tel: 86-411-39185985<BR>
Email</FONT>:&nbsp;ir@cbak.com.cn</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529">The Blueshirt Group</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529">Ms. Feifei Shen</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529">Email:
feifei@blueshirtgroup.com</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529">In the United States:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529">The Blueshirt Group</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529">Ms. Marlene Pan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529">Email: marlene@blueshirtgroup.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #212529">&nbsp;</P>

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