Management Change/Compensation Form 8 K

ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On and effective October 24, 2024, Mr. Yunfei Li resigned as Chief Executive Officer and President of the Company. Mr. Li's resignation was due to personal reasons and his planned retirement and not because of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

On the same date, the Board of Directors of the Company appointed Mr. Zhiguang Hu as Chief Executive Officer and President of the Company.

Mr. Zhiguang Hu, 42, is a long-term employee who has been with the Company since 2004 and has led our sales and marketing department, contributing significantly to the revenue growth of the Company's battery business in recent years. Since June 2023, he has held the position of Deputy General Manager in the Company's Sales and Marketing Department. Prior to this role, he served as the Director of Sales and Marketing at our subsidiary, Dalian CBAK Power Battery Co., Ltd., from January 2014 to May 2023. His experience also includes serving as the Director of the Sales and Marketing Department at BAK International (Tianjin) Co., Ltd. from January 2012 to December 2013, a former subsidiary of the Company. Before that, he was the Sales Manager at BAK International (Tianjin) Co., Ltd. from January 2008 to December 2011. Additionally, he managed Overseas Business and Key Accounts at Shenzhen BAK Battery Co., Ltd., another former subsidiary of the Company, from July 2004 to December 2007. Mr. Hu graduated from Lanzhou Business College (now Lanzhou University of Finance and Economics) in July 2004, earning a degree in Business Administration.

Mr. Zhiguang Hu is entitled to receive an annual salary of RMB308,230.33 (approximately $43,301.72) from the Company.

There is no family relationship that exists between Mr. Zhiguang Hu and any directors or executive officers of the Company. In addition, there are no arrangements or understandings between Mr. Zhiguang Hu and any other persons pursuant to which he was selected as an officer of the Company and there are no transactions between the Company and Mr. Zhiguang Hu that would require disclosure under Item 404(a) of Regulation S-K.