On May 12, Highpower International, Inc. (NASDAQ:HPJ), a developer, manufacturer and marketer of lithium and nickel-metal hydride (Ni-MH) rechargeable batteries, and a battery management systems and battery recycling provider, announced financial results for the first quarter ended March 31, Net sales increased 19.5% year-over-year to $29.2 million; Robust growth in lithium battery segment — lithium battery net sales up 44.7% in the first quarter of 2014 over the first quarter of 2013; total lithium battery pieces sold increased 15.2%; and a 22.5% increase in volume per ampere hour, reflecting more sales of large format lithium batteries used in areas such as electric buses; Gross margin of 20.3%, improved 80 basis points over the first quarter of 2013; Net loss of $0.9 million, or $0.07 per diluted share including stock based expenses of $0.4 million. Highpower International Inc (NASDAQ:HPJ) net profit margin is 0.60% and weekly performance is -26.91%. On last trading day company shares ended up $3.15. Analysts mean target price for the company is $4.00. Highpower International Inc (NASDAQ:HPJ) distance from 50-day simple moving average (SMA50) is -36.98%.
Shenzhen BAK Battery Co., Ltd. (NASDAQ:CBAK) a wholly-owned subsidiary of China BAK Battery, Inc. entered into a loan agreement (the “Loan Agreement”), with Mr. Jinghui Wang, pursuant to which, Mr. Wang agreed to initially lend Shenzhen BAK a loan in the amount of RMB370 million (approximately $61.1 million). On January 14, 2014, the Company’s wholly-owned Hong Kong subsidiary, BAK International Limited (“BAK International) entered into a corporate guarantee with Mr. Wang, under which BAK International irrevocably and unconditionally guaranteed to the lender timely performance by Shenzhen BAK of all its obligations under the Loan Agreement. On the same date, the Company and BAK International entered into a share mortgage with Mr. Wang, under which, the Company pledged 100% of its equity interest in BAK International to the lender as security for the performance of Shenzhen BAK’s obligations under the Loan Agreement. If Shenzhen BAK defaults on its repayment obligation under or in connection with the Loan Agreement, the lender, as the pledgee, will be entitled to dispose of the pledged equity interests. China BAK Battery Inc. (NASDAQ:CBAK) shares fell -5.65% in last trading session and ended the day on $2.17. Gross Margin is -5.40% and its return on assets is -24.20%. China BAK Battery Inc. (NASDAQ:CBAK) quarterly performance is 11.86%.
Advanced Battery Technologies, Inc. (OTCMKTS:ABAT) shares moved down -6.90 % in last trading session and was closed at $0.270 , while trading in range of $0.27 – $0.30.
On May 15, Security and defense products provider, Arotech Corporation (NASDAQ:ARTX) announced 62.3% jump in profit for the first quarter driven by strong expansion of gross margin, as the revenue growth was a slender 1.4% over the last year quarter. The company reported a profit of $1.0 million, up 62.3% from $0.62 million and the earnings per share surged 66.7% to 5 cents from 3 cents in the year-ago quarter. One analyst estimated earnings of one cent a share. Arotech Corporation (NASDAQ:ARTX) ended the last trading day at $4.37. Company weekly volatility is calculated as 12.50% and price to cash ratio as 15.81. Arotech Corporation (NASDAQ:ARTX) showed a positive weekly performance of 23.45%.
New Energy Systems Group (OTCMKTS:NEWN) on last trading day company shares ended up $0.0800 .