China BAK Battery, Inc. (CBAK)

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China BAK Battery, Inc. (CBAK)

F4Q12 Earnings Call

December 20, 2012 08:00 am ET

Executives

Tracy Li – Investor Relations Officer

Xiangqian Li – Chairman, President and Chief Executive Officer

Presentation

Tracy Li

Hello. Good evening, everyone. Thank you for joining us on China BAK’s Fourth Quarter and Fiscal Year-End September 30, 2012 Conference Call. Today we have IR Department staff here to answer all the investor’s questions. Since we have already publicly announced the initial performance, and we estimated to file the 10-K by end of this month, so we will only discuss any questions if you have.

So hello, may I know who’s online.

Question-and-Answer Session

Unidentified Analyst

Yeah, hello.

Tracy Li

Hello. This is Tracy Li…

Unidentified Analyst

Yes, first during the conference call China BAK Battery.

Tracy Li

Hello, hi.

Xiangqian Li

Hi.

Tracy Li

Can you hear me?

Xiangqian Li

Yes.

Tracy Li

I cannot hear you clearly. Hello?

Xiangqian Li

Yes, go ahead.

Tracy Li

Yes.

Xiangqian Li

I’m listening in.

Tracy Li

Hi, sir. Is there any questions?

Unidentified Analyst

Yeah, hello.

Tracy Li

Hi.

Unidentified Analyst

Yeah, this is for CBAK.

Tracy Li

Yes, this is CBAK Fourth quarter and fiscal year 2012 earnings call.

Unidentified Analyst

Okay, fine. How much time remains to start the call?

Tracy Li

Pardon, I cannot hear you clearly, excuse me.

Unidentified Analyst

Yeah, I just want to confirm how much time remains to start the call?

Tracy Li

The call is now started.

Xiangqian Li

Oh, so you are just taking questions from whoever is on the line right now?

Tracy Li

Yes.

Xiangqian Li

Okay, you want to go ahead first sir, or you’re ahead of me? Yeah, do you want me to go ahead?

Tracy Li

Yes, please.

Xiangqian Li

All right. I will ask you, you currently, I know your CFO left in August if I remember correctly, why is it that you haven’t replaced him with another CFO?

Tracy Li

Actually we have almost closed the interview process and we have already, has a new CFO, and we estimated to appoint him by end of this month. So right after we file the 10-K and the new CFO will start from the calendar year 2013.

Unidentified Analyst

Okay, because that would definitely help your situation. When you don’t have a CFO, it doesn’t look too good.

Tracy Li

Yeah.

Unidentified Analyst

You had a scaling report that came out December 3, the institutions all had in their hand saying that your company is installment, how do you address that?

Tracy Li

Yeah, we have actually have read that article, and we think that most of the information you’ve got actually is not correct. Just from the filing time from the first part of that, so it is a review that’s right here, it’s not, carefully study our company and didn’t (inaudible), so we know that we will also notice the price, performance during these days. We believe that’s because driving by other reasons just we are in a selection of some government supported projects, and that kind of information is half public in the industry, but we cannot disclose before the government publicly announce the year selection.

So that kind of information may lead to the market and mixed price has some abnormal performance. That article we believe is not correct and we solely didn’t make any official address to that.

Unidentified Analyst

You got a lot of rumors circling out there amongst the institutional guys and of course, your Investment Relations firm, which we believe you should get rid of, because they are under investigation, and I know, if you know they’re not, but putting that aside for a minute, you need to find somebody else, because they are not doing a good job for you okay?

Tracy Li

Actually we’ve already – well, we’ve engaged another IR firm.

Unidentified Analyst

Yeah, you’ve been told that a long time ago to get rid of these guys, and they are not, they are a very shady company in our opinion. But putting that aside, they’ve been getting, but barred with calls over and I guess they are not telling you that the word bankruptcy has been thrown around and we feel, we don’t think that’s the case, but we want to ask you by, but we feel there’s a lot of people out there who are shorting your stock, trying to drive your stock price down by throwing that word out there and keeping your stock price depressed, and that should have been addressed very rapidly by the Investor Relations firm, which they didn’t bother doing, and this has been going on for quite a while, I guess you’re not aware that. How would you address that, because you need to spell that real quickly if that isn’t true?

Tracy Li

Yeah, and I think that’s all our requirements to our new IR firm, and we will work more closely with them.

Unidentified Analyst

Yeah, because that’s why your stock price has been word is, and I think if that had been put out, you then had to do reverse split, and that Investor Relations firm hasn’t done you on any justice at all. And they’re known to handle throughout the companies, companies that are under verge of bankruptcy and shady companies, okay as [Cracker Carlson Group], right?

Tracy Li

Yeah.

Unidentified Analyst

You need to find somebody back at least somebody with impeccable credentials and somebody who is probably handling some other companies that are stellar companies up put you in good light. You need to start marketing yourselves better. But let me put the switch on to your batteries. You’ve been doing some stuff with the various car companies, Chery and I just can’t remember the other one, but some of the various car companies over there. How are you making out on that end?

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