China Tracker - Details for Advanced Battery Technology (ABAT)

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 Advanced Battery Technology
 Business Outlook

Recent Chain of Events:
2012-02-06 -- Last SEC Filing
2011-11-30 -- Delisting from NASDAQ
2011-11-15 -- Trading halted by NASDAQ
2011-10-25 -- CFO Resignation
2011-08-15 -- Last Quarterly/Annual Report: Q2/FY2011 ended June 30, 2011

(Source: Trading China, 2012-09-30)

Although the growth of operating income lagged the growth of revenue, due to low margins on our small capacity batteries, our current expectation, is that, in time, the advanced technology and facilities that we acquired from Shenzhen ZQ, along with our established customer list, will allow us to achieve worthwhile margins in the small capacity battery sector. For that reason we expect that the focus of operations at the Dongguan industrial park that we currently have under construction will be in large part on small capacity batteries. This, coupled with our steady growth in the large capacity battery sector, should give us a solid platform from which to build a strong position in the international battery market.

(Source: Globe Newswire, 2011-08-17)

The sharp decline in the price of our common stock on the afternoon of March 30 troubles us greatly. We wish to ensure our shareholders that there has been no change in the Company's financial condition or its outlook that would explain the decline. Our balance sheet remains strong, as shown in the Form 10-K filed earlier this month, and our prospects for continued growth remain bright. There has not been any recent significant event that occurred within the Company that would explain the decline in our stock price yesterday. We assume, therefore, that the price decline resulted from market activity unrelated to the inherent value of our company.

(Source: Globe Newswire, 2011-03-31)

Advanced Battery Technologies today announced that on December 20, 2010, the Company entered into an Acquisition Agreement with Shenzhen Zhongqiang New Energy Science & Technology Co.. Shenzhen Zhongqiang is a manufacturer of lithium batteries for mobile phones and MP3 and video game consoles with a daily capacity of 70,000 battery cells. The total purchase price is $20 million, of which approximately $13.5 million will be used to satisfy existing liabilities of Shenzhen Zhongqiang. The Company expects to close this acquisition on January 1, 2011.

In order to add additional battery capacity, on the same day that it signed the acquisition agreement, the Company also entered into a letter of intent to purchase the land use right to a 54,000 square meter parcel of land together with buildings having 56,000 square meters of usable space in Dongguan City, Guangdong Province. The total purchase price will be approximately $26 million, and the Company has already made a deposit of approximately $1.3 million. After further investment, the Company plans for this new facility to have a capacity to produce 500,000 mobile phone battery cells and 70,000 Ah medium/large batteries on a daily basis, which could yield over $100 million in annual sales. It will take at least 6 months to complete construction of the new facility.

(Source: Globe Newswire, 2010-12-22)

"We experienced strong demand in both domestic and international markets for electric and hybrid electric vehicles as individuals and industries switch to alternate forms of transportation. We are still upgrading the capacity of two battery production lines and are aiming to complete the upgrade in the third quarter in order to meet the strong battery demand from customers."

(Source: Globe Newswire, 2010-08-09)

Management is providing revenue guidance of $100 to $110 million and net income guidance of $32 to $36 million for 2010. Growth is expected to be driven by enhanced distribution of its electric vehicles, battery capacity expansion and increased orders from domestic and international customers. This guidance excludes any impact from future acquisitions and fair value change of outstanding warrants.

(Source: Globe Newswire, 2010-05-11)
READ: Score Cards Explained
DETAILS: Safety/Risk Model for ABAT
Current Price:  n/a
F10k Day (2004-10-04): -100.00%$1.65
2009 Close: -100.00%$4.00
2010 Close: -100.00%$3.85
2011 Close: -100.00%$0.43
High (2012-02-02): -100.00%$0.64
Low (2012-08-09): -100.00%$0.26
Market Capitalization: n/a
Total Shares: 82.61 mill
Float: n/a
Avg Volume: 4.05 mill
Short Interest: 5.92 mill
Short Ratio: 8.80%1.5 d
Last Quarter: 2011-06-30
Revenue (MRQ): 31.35 mill
Net Income (MRQ): 8.08 mill
Op. Cash Flow (MRQ): 8.27 mill
all financial data provided without warranty