China BAK Regains Compliance with NASDAQ Minimum Bid Price Requirement

    China BAK Regains Compliance with NASDAQ Minimum Bid Price Requirement

PR Newswire

SHENZHEN, China, Nov. 15, 2012

SHENZHEN, China, Nov. 15, 2012 /PRNewswire/ -- China BAK Battery, Inc. ("China
BAK" or the "Company") (NASDAQ: CBAK), a leading global manufacturer of
lithium-based battery cells, today announced that the Company has received a
letter from the NASDAQ Listing Qualifications department notifying the Company
that it has regained compliance with the minimum bid price requirement for
continued listing set forth in NASDAQ Listing Rule 5450(a)(1), as its common
stock has achieved a closing bid price of $1.00 or more for 10 consecutive
business days.

On May 25, 2012, the NASDAQ Stock Market staff (the "NASDAQ Staff") notified
the Company that its common stock was not in compliance with one of the
standards for continued listing on the NASDAQ Global Market because the
closing bid price of its common stock had fallen below $1.00 for 30
consecutive business days. The NASDAQ Staff also notified the Company that it
had been granted a grace period of 180 calendar days, or until November 21,
2012, to regain compliance.

In a letter dated November 13, 2012, the NASDAQ Staff informed the Company
that it had determined that the closing bid price of China BAK's common stock
had been at $1.00 per share or greater for ten consecutive business days from
October 26, 2012 to November 12, 2012. Accordingly, the Company has regained
compliance with NASDAQ Listing Rule 5450(a)(1).

About China BAK Battery, Inc.

China BAK Battery, Inc. (NASDAQ: CBAK) is a leading global manufacturer of
lithium-based battery cells. The Company produces battery cells that are the
principal component of rechargeable batteries commonly used in cellular
phones, smartphones, notebook computers, e-bikes, electric vehicles, power
tools, uninterruptible power supplies, and portable consumer electronics such
as portable media players, portable gaming devices, personal digital
assistants, or PDAs, camcorders, digital cameras, and Bluetooth headsets.
China BAK Battery, Inc.'s production facilities, located in Shenzhen and
Tianjin cover over three million square feet. For more information regarding
China BAK Battery, Inc., please visit http://www.bak.com.cn.

SafeHarborStatement

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
"forward-looking statements" relating to the business of China BAK Battery,
Inc. and its subsidiary companies, which can be identified by the use of
forward-looking terminology such as "believes," "expects" or similar
expressions, involve known and unknown risks and uncertainties which could
cause actual results to differ. These factors include but are not limited to:
the ability of the Company to meet its contract obligations; the uncertain
market for the Company's lithium-based battery cells; business, macroeconomic,
technological, regulatory, or other factors affecting the profitability of
lithium-based battery cells; and risks related to China BAK's business and
risks related to operating in China. Please refer to China BAK's Annual Report
on Form 10-K for the fiscal year ended September 30, 2011, as well as China
BAK's Quarterly Reports on Form 10-Q 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. China BAK's actual results could differ materially
from those contained in the forward-looking statements. China BAK 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.



SOURCE China BAK Battery, Inc.

Website: http://www.bak.com.cn
Contact: China BAK Battery, Inc., Mr. Xiangqian Li, Chief Executive Officer,
86-755-61886818 ext 6856, ir@bak.com.cn
 
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