CBAK Energy Technology, Inc. (CBAT), Friday announced that its wholly-owned subsidiary, Nanjing CBAK New Energy Technology Co., Ltd. has secured a contract of upto $35 million from Anker Innovations Technology Co., Ltd., an intelligent hardware brand enterprise.
Following the announcement, CBAK's stock is climbing 19.43 percent, to $1.09 on the Nasdaq.
Under the deal, the China-based company would supply battery cells to Anker.
Moreover, both the companies are planning for potential future collaborations along with expansion of capabilities across overseas markets.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.