UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

 Washington, D.C. 20549

 FORM 10-K/A

 (Amendment No. 1)

 (Mark One)

 ANNUAL REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended: December 31, 2024

 TRANSITION REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the transition period from ____________to _____________

 Commission File No. 001-32898

 CBAK ENERGY TECHNOLOGY, INC.

 (Exact Name of Registrant as Specified in Its Charter)

 Nevada

 88-0442833

 (State or other jurisdiction of

 (I.R.S. Employer

 incorporation or organization)

 Identification No.)

 CBAK Industrial Park, Meigui Street,

 Huayuankou

 Economic Zone, Dalian City, Liaoning

Province, China

 116450

 (Address of principal executive offices)

 (Zip Code)

 (86) (411)-3918-5985

 (Registrant's telephone number, including
area code)

 Securities registered pursuant to Section 12(b) of the Act:

 Title of each class

 Trading Symbol(s)

 Name of each exchange on which registered

 Common Stock, $0.001 par value

 CBAT

 The Nasdaq Stock Market LLC

 Securities registered pursuant to Section 12(g)
of the Act: None

 Indicate by check mark if the registrant is a
well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No

 Indicate by check mark if the registrant is not
required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No

 Indicate by check mark whether the registrant
(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements
for the past 90 days. Yes No

 Indicate by check mark whether the registrant
has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405
of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes
 No

 Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.
See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"
and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 Large Accelerated Filer

 Accelerated Filer

 Non-Accelerated Filer

 Smaller reporting company

 Emerging growth company

 If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.

 Indicate by check mark whether the registrant
has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial
reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or
issued its audit report.

 If securities are registered pursuant to Section
12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction
of an error to previously issued financial statements.

 Indicate by check mark whether any of those error
corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's
executive officers during the relevant recovery period pursuant to §240.10D-1(b).

 Indicate by check mark whether registrant is a
shell company (as defined in Rule 12b-2 of the Act) Yes No

 As of June 28, 2024 (the last business day of
the registrant's most recently completed second fiscal quarter), the aggregate market value of the shares of the registrant's
common stock held by non-affiliates (based upon the closing sale price of $1.37 per share) was approximately $ 107.3 million. Shares of
the registrant's common stock held by each executive officer and director and by each person who owns 10% or more of the outstanding
common stock have been excluded from the calculation in that such persons may be deemed to be affiliates of the registrant. This determination
of affiliate status is not necessarily a conclusive determination for other purposes.

 There were a total of 89,939,662 shares of the
registrant's common stock outstanding as of April 25, 2025.

 DOCUMENTS INCORPORATED BY REFERENCE

 None.

 EXPLANATORY NOTE

 CBAK Energy Technology, Inc. (the "Company")
is filing this Amendment No. 1 on Form 10-K/A (the "Form 10-K/A") to amend its Annual Report on Form 10-K for
the fiscal year ended December 31, 2024 (together with the Form 10-K/A, the "Form 10-K"), filed with
the Securities and Exchange Commission (the "SEC") on March 17, 2025. The purpose of this Form 10-K/A is solely
to disclose the information required in Part III (Items 10, 11, 12, 13 and 14) of Form 10-K, which information was previously
omitted in reliance on General Instruction G(3) to Form 10-K. Accordingly, the Company hereby amends and replaces in its
entirety Part III of Form 10-K.

 In addition, pursuant to the rules of the SEC,
Item 15 of Part IV has been amended to include the currently dated certifications of the Company's principal executive officer and
principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. New certifications of the Company's
principal executive officer and principal financial officer are filed with this Form 10-K/A as Exhibits 31.3 and 31.4 hereto.
Because no financial statements have been included in this Form 10-K/A and this Form 10-K/A does not contain or amend
any disclosure with respect to Items 307 and 308 of Regulation S-K, paragraphs 3, 4 and 5 of the certifications have been omitted.
The Company is not including a new certification under Section 906 of the Sarbanes-Oxley Act of 2002 as no financial statements are
being filed with this Form 10-K/A.

 Except as described above, this Form 10-K/A does
not amend any other information set forth in the Form 10-K, and the Company has not updated disclosures included therein
to reflect any subsequent events. This Form 10-K/A should be read in conjunction with the Form 10-K and with
the Company's filings with the SEC subsequent to the Form 10-K.

 Page

 Item 10.

 Directors, Executive Officers and Corporate Governance

 Item 11.

 Executive Compensation

 Item 12.

 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

 Item 13.

 Certain Relationships and Related Transactions, and Director Independence

 Item 14.

 Principal Accountant Fees and Services

 Item 15.

 Exhibits, Financial Statement Schedules

 i

 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

 Directors and Executive Officers

 The following sets forth the name and position
of each of our current executive officers and directors.

 Name

 Age

 Gender

 Position

 Zhiguang Hu

 Male

 President and Chief Executive Officer

 Yunfei Li

 Male

 Chairman of the Board

 Xiangyu Pei

 Female

 Director

 Martha C. Agee

 Female

 Independent Director

 J. Simon Xue

 Male

 Independent Director

 Jianjun He

 Male

 Independent Director

 Jiewei Li

 Male

 Chief Financial Officer and Secretary

 Zhiguang Hu 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. Mr. Hu has served as our President and Chief Executive Officer since October
2024. 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.

 Yunfei Li has served as the chairman
of our board since March 1, 2016. Mr. Li was our president and chief executive officer from March 1, 2026 to October 24, 2024. Mr. Yunfei
Li has more than 20 years of management experience in industries of battery, new energy and real estate development. From May 2014 to
March 2016, he served as Vice President of the Company's subsidiary, CBAK Power in charge of the company's construction of
manufacturing facilities, government relationship and development of new customers. From May 2010 to May 2014, Mr. Yunfei Li held management
positions of various new energy development and real estate development companies in China. Prior to that, he was Director of Construction
Department, Director of Comprehensive Management Department and Assistant to President of Shenzhen BAK Battery Co., Ltd., a former subsidiary
of the Company, from March 2003 to May 2010. Mr. Yunfei Li holds a bachelor's degree in Civil Engineering from Liao Yuan Vocational
Technical College.

 Xiangyu Pei served as our Interim
Chief Financial Officer from August 23, 2019 to August 22, 2023. After resigning as our Interim Chief Financial Officer, she has continued
to serve in our finance department. Ms. Pei has served as our director since September 2021. Prior to that, she served as the financial
controller of the Company's subsidiary, CBAK Power since 2017. Ms. Pei was also the Company's secretary from 2017 to August
2023. While serving as our Interim Chief Financial Officer, she oversaw auditing, accounting, financial reporting and investor relations
for the Company. Ms. Pei received a PhD in World Economics from Jilin University in China.

 Martha C. Agee has served as our
director since November 15, 2012. Since 1997, Ms. Agee has been a senior lecturer of business law at Hankamer School of Business of Baylor
University where she teaches courses in the Legal Environment of Business, International Business Law, and Healthcare Law & Ethics
for graduate and undergraduate students. Prior to that, Ms. Agee practiced law from 1988 to 1996. Ms. Agee obtained her bachelor's
degree in accounting in 1976 and Juris Doctor degree in 1988 from Baylor University.

 J. Simon Xue has served as our director
since February 1, 2016. Dr. Xue has approximately 40 years of experience in nuclear chemistry, solid state chemistry, superconductivity
and materials for lithium ion batteries. Within his research career, he has spent 21 years in the research and development of lithium
ion battery. Dr. Xue is retired but remains a member of energy storage strategic division of the Expert Committee for "Chinese Industrial
Association of Power Sources", energy storage strategic division. Prior to that, Dr. Xue was a director of Altair Nanotechnologies
Inc., a Delaware company, between August 2011 and April 2012. From 2010 to 2011, he served as the chief executive officer of Yintong Energy
Co., Ltd., a subsidiary of Canon Investment Holdings Ltd. Dr. Xue has also held positions at Ultralife, Duracell, B&K Electronics
Co., Ltd., Valence Energy-Tech (Suzhou) Co., A123 Systems Inc. and International Battery Inc. He has an extensive reputation in the whole
product chain of lithium ion battery in China, including materials, equipment, cell manufacturing and testing. He has authored or co-authored
over 50 scientific articles, 12 patents relevant to battery chemistry and materials and participated, presented and hosted more than 30
battery or material related international conferences. Dr. Xue completed his Ph. D. program in Solid State Chemistry in McMaster University
in 1992.

 Jianjun He has served as our director
since November 4, 2013. Mr. He has more than 16 years of experience in accounting and finance and is an associate member of the Chinese
Institute of Certificate Public Accounts. Mr. He has been the Managing Director of Jilin Cybernaut Lvke Investment and Management Co.,
Ltd., an investment consulting firm in China, since January 1, 2013. From June 30, 2009 to December 31, 2012, Mr. He served as the Chief
Financial Officer of THT Heat Transfer Technology, Inc. (Nasdaq: THTI) ("THT Heat"), a provider of heat exchangers and heat
exchange solutions in China. Mr. He was the Chief Financial Officer of Siping City Juyuan Hanyang Plate Heat Exchanger Co. Ltd, a wholly
owned subsidiary of THT Heat from 2007 to December 2012. From 1999 to 2007, Mr. He worked as senior financial officer in Jilin Grain Group,
a state-owned enterprise engaged in the grain processing and trading business. Mr. He graduated from Changchun Taxation College in 1995
with a bachelor's degree in auditing and obtained a master's degree from Jilin University in 2005.

 Jiewei Li has served as our Chief
Financial Officer and Secretary of the Company since August 2023. Mr. Li has been the Company's investor relations manager since
2021. Prior to joining the Company, from 2018 to 2021, Mr. Li had worked at multiple fund management companies in China where he focused
on structuring various investment products. Before that, from 2014 to 2018, he had worked for several renowned American real estate developers
in their fund management departments, responsible for capital market affairs. Mr. Li received a Master's Degree in Political and
Public Administration from the Chinese University of Hong Kong in 2014.

 There are no agreements
or understandings for any of our executive officers or director to resign at the request of another person and no officer or director
is acting on behalf of nor will any of them act at the direction of any other person.

 Directors are elected until their successors
are duly elected and qualified.

 Director Qualifications

 Directors are responsible
for overseeing the Company's business consistent with their fiduciary duty to shareholders. This significant responsibility requires
highly skilled individuals with various qualities, attributes and professional experience. The Board believes that there are general requirements
for service on the Company's board of directors (the "Board of Directors" or the "Board") that are applicable
to all directors and that there are other skills and experience that should be represented on the Board as a whole but not necessarily
by each director. The Board and the Nominating and Corporate Governance Committee of the Board consider the qualifications of directors
and director candidates individually and in the broader context of the Board's overall composition and the Company's current
and future needs.

 Qualifications for All Directors

 In identifying and evaluating
nominees, the Nominating and Corporate Governance Committee may consult with the other Board members, management, consultants, and other
individuals likely to possess an understanding of the Company's business and knowledge of suitable candidates. In making its recommendations,
the Nominating and Corporate Governance Committee assesses the requisite skills and qualifications of nominees and the composition of
the Board as a whole in the context of the Board's criteria and needs. In evaluating the suitability of individual Board members,
the Nominating and Corporate Governance Committee may take into account many factors, including general understanding of marketing, finance
and other disciplines relevant to the success of a publicly traded company in today's business environment; understanding of the
Company's business and technology; the international nature of the Company's operations; educational and professional background;
and personal accomplishment. The Nominating and Corporate Governance Committee evaluates each individual in the context of the Board as
a whole, with the objective of recommending a group that can best perpetuate the success of the Company's business and represent
stockholder interests through the exercise of sound judgment, using its diversity of experience. The Nominating and Corporate Governance
Committee also ensures that a majority of nominees would be "independent directors" as defined under the applicable rules
of the SEC and The NASDAQ Stock Market LLC.

 Qualifications, Attributes, Skills and
Experience to be Represented on the Board as a Whole

 In its assessment of
each potential candidate, including those recommended by stockholders, the Nominating and Corporate Governance Committee considers the
nominee's judgment, integrity, experience, independence, understanding of the Company's business or other related industries
and such other factors the Nominating and Corporate Governance Committee determines are pertinent in light of the current needs of the
Board. The Nominating and Corporate Governance Committee also takes into account the ability of a Director to devote the time and effort
necessary to fulfill his or her responsibilities to the Company.

 The Board and the Nominating
and Corporate Governance Committee require that each Director be a recognized person of high integrity with a proven record of success
in his or her field. Each Director must demonstrate innovative thinking, familiarity with and respect for corporate governance requirements
and practices, an appreciation of multiple cultures and a commitment to sustainability and to dealing responsibly with social issues.
In addition to the qualifications required of all Directors, the Board assesses intangible qualities including the individual's
ability to ask difficult questions and, simultaneously, to work collegially.

 The Board has identified
particular qualifications, attributes, skills and experience that are important to be represented on the Board as a whole, in light of
the Company's current needs and business priorities. The Company's services are performed in various countries and in significant
areas of future growth located outside of the United States. Accordingly, the Board believes that international experience or specific
knowledge of key geographic growth areas and diversity of professional experiences should be represented on the Board. In addition, the
Company's business is multifaceted and involves complex financial transactions. Therefore, the Board believes that the Board should
include some Directors with a high level of financial literacy and some Directors who possess relevant business experience as a Chief
Executive Officer or President. Our business involves complex technologies in a highly specialized industry. Therefore, the Board believes
that extensive knowledge of the Company's business and industry should be represented on the Board.

 Summary of Qualifications of Directors

 Set forth below is a
narrative disclosure that summarizes some of the specific qualifications, attributes, skills and experiences of our directors. For more
detailed information, please refer to the biographical information for each director set forth above.

 Mr. Li, has
extensive senior management experience in the industry in which we operate and has held management positions of various new energy development
and real estate development companies in China.

 Ms. Pei, has been
with the Company since 2017 and served as the Company's interim chief financial officer from August 23, 2019 to August 22, 2023.
She contributes valuable financial expertise and management insights to the Board.

 Ms. Agee, Chair
of the Audit Committee, was previously a Certified Public Accountant, worked as Chief Accountant for political sub-division for five and
a half years and worked as Supervisor of Accounting for a large retail chain where the responsibilities included hiring, training, and
supervision of accounting staff; preparation and analysis of 17 monthly financial statements and quarterly consolidated financial statements;
budgeting, and internal auditing.

 Dr. Xue,
Chair of the Compensation Committee, has approximately 40 years' experience in nuclear chemistry, solid state chemistry, superconductivity
and materials for Lithium-ion batteries. Within his research career, he has spent 21 years in the research and development of lithium-ion
battery.

 Mr. He, Chair
of the Nominating and Corporate Governance Committee, has more than 15-year experience in accounting and finance and is an associate member
of the Chinese Institute of Certificate Public Accounts.

 Family Relationships

 There are no family relationships among our
directors or officers.

 Involvement in Certain Legal Proceedings

 To the best of our knowledge, none of our directors
or executive officers has been the subject of the follow events, during the past ten years:

 1)
 A
petition under the federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar
officer was appointed by a court for the business or property of such person, or any partnership in which he was a general partner at
or within two years before the time of such filing, or any corporation or business association of which he was an executive officer at
or within two years before the time of such filing;

 2)
 Convicted
in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);

 3)

 The subject of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from, or otherwise limiting, the following activities;

 i.
 Acting
as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction
merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or
as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment
company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection
with such activity;

 ii.

 Engaging in any type of business practice; or

 iii.

 Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State securities laws or Federal commodities laws;

 4)

 The subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph 3)i in the preceding paragraph or to be associated with persons engaged in any such activity;

 5)

 Was found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state securities law, and the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended, or vacated;

 6)

 Was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated;

 7)

 Was the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:

 i.

 Any federal or state securities or commodities law or regulation; or

 ii.

 Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or

 iii.

 Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

 8)

 Was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

 Board Composition and Committees

 Our Board of Directors is comprised of Yunfei
Li, Xiangyu Pei, Martha C. Agee, J. Simon Xue and Jianjun He.

 Martha Agee, J. Simon
Xue and Jianjun He each serves on our Board of Directors as an "independent director" as defined by as defined by Rule 5605(a)(2)
of the NASDAQ Listing Rules. Our Board has determined that Martha Agee possesses the accounting or related financial management experience
that qualifies her as financially sophisticated within the meaning of Rule 5605(c)(2)(A) of the NASDAQ Listing Rule and that she is an
"audit committee financial expert" as defined by the rules and regulations of the SEC.

 Our Board currently has
three standing committees which perform various duties on behalf of and report to the Board: (i) audit committee, (ii) compensation committee
and (iii) nominating and corporate governance committee. Each of the three standing committees is comprised entirely of independent directors.
From time to time, the Board may establish other committees.

 Audit Committee

 Our Audit Committee consists
of three members: Martha C. Agee, J. Simon Xue and Jianjun He. Pursuant to the determination of our Board of Directors, Ms. Agee serves
as the chair of the Audit Committee and as our Audit Committee financial expert as that term is defined by the applicable SEC rules. Each
director who has served or is serving on our Audit Committee was or is "independent" as that term is defined under the NASDAQ
listing rules for Audit Committee members at all times during their service on such Committee.

 The Audit Committee
oversees our accounting and financial reporting processes and the audits of the financial statements of our Company. The Audit Committee
is responsible for, among other things:

 the
appointment, compensation, retention and oversight of the work of the independent auditor;

and pre-approving all auditing services and permissible non-audit services (including the fees and terms thereof) to be performed by
the independent auditor;

and approving all proposed related-party transactions;

 discussing
the interim and annual financial statements with management and our independent auditors;

and discussing with management and the independent auditor (a) the adequacy and effectiveness of the Company's internal controls,
(b) the Company's internal audit procedures, and (c) the adequacy and effectiveness of the Company's disclosure controls
and procedures, and management reports thereon;

reported violations of the Company's code of conduct and business ethics; and

and discussing with management and the independent auditor various topics and events that may have significant financial impact on the
Company or that are the subject of discussions between management and the independent auditors.

 Compensation Committee

 Our Compensation Committee
consists of three members: Martha C. Agee, J. Simon Xue and Jianjun He, with Mr. Xue serving as chair. Each director who has served or
is serving on our Compensation Committee was or is "independent" as that term is defined under the NASDAQ listing rules at
all times during their service on such Committee.

 The purpose of our Compensation
Committee discharge the responsibilities of the Company's Board of Directors relating to compensation of the Company's executives,
to produce an annual report on executive compensation for inclusion in the Company's proxy statement, if required, and to oversee
and advise the Board on the adoption of policies that govern the Company's compensation programs, including stock and benefit plans.
Our chief executive officer may not be present at any Compensation Committee meeting during which his compensation is deliberated. The
Compensation Committee is responsible for, among other things:

 reviewing and approving the compensation structure for corporate officers at the level of corporate vice president and above;

 overseeing an evaluation of the performance of the Company's executive officers and approve the annual compensation, including salary, bonus, incentive and equity compensation, for the executive officers;

 reviewing and approving chief executive officer goals and objectives, evaluate chief executive officer performance in light of these corporate objectives, and set chief executive officer compensation consistent with Company philosophy;

 making recommendations to the Board regarding the compensation of board members; and

 reviewing and making recommendations concerning long-term incentive compensation plans, including the use of equity-based plans. Except as otherwise delegated by the Board of Directors, the Compensation Committee will act on behalf of the Board of Directors as the "Committee" established to administer equity-based and employee benefit plans, and as such will discharge any responsibilities imposed on the Compensation Committee under those plans, including making and authorizing grants, in accordance with the terms of those plans.

 Nominating and
Corporate Governance Committee

 Our Nominating and Corporate
Governance Committee consists of three members: Martha C. Agee, J. Simon Xue and Jianjun He, with Mr. He serving as chair. Each director
who has served or is serving on our Nominating and Corporate Governance Committee was or is "independent" as that term is
defined under the NASDAQ listing standards at all times during their service on such Committee.

 The purpose of the Nominating
and Corporate Governance Committee is to determine the slate of director nominees for election to the Company's Board of Directors,
to identify and recommend candidates to fill vacancies occurring between annual shareholder meetings, and to review the Company's
policies and programs that relate to matters of corporate responsibility, including public issues of significance to the Company and its
members. The Nominating and Corporate Governance Committee is responsible for, among other things:

 annually presenting to the Board a list of individuals recommended for nomination for election to the Board at the annual meeting of stockholders, and for appointment to the committees of the Board;

 annually reviewing the composition of each committee and present recommendations for committee memberships to the Board as needed; and

 annually evaluating and reporting to the Board of Directors on the performance and effectiveness of the Board of Directors to facilitate the directors fulfillment of their responsibilities in a manner that serves the interests of the Company's shareholders.

 Code of Business Ethics
and Conduct

 We have adopted a Code
of Business Ethics and Conduct relating to the conduct of our business by our employees, officers and directors. We intend to maintain
the highest standards of ethical business practices and compliance with all laws and regulations applicable to our business, including
those relating to doing business outside the United States. A copy of the Code of Business Conduct and Ethics has been filed as Exhibit
14.1 to our Quarterly Report on Form 10-Q filed on August 22, 2006 and is hereby incorporated by reference into this annual report. The
Code of Business Conduct and Ethics is also available on our website at www.cbak.com.cn. During the fiscal year ended December 31, 2024,
there were no amendments to or waivers of our Code of Business Ethics and Conduct. If we effect an amendment to, or waiver from, a provision
of our Code of Business Ethics and Conduct, we intend to satisfy our disclosure requirements by posting a description of such amendment
or waiver on our Internet website at www.cbak.com.cn or via a current report on Form 8-K.

 Delinquent Section
16(a) Reports

 Under U.S. securities
laws, directors, certain executive officers and persons beneficially owning more than 10% of our Common Stock must report their initial
ownership of the Common Stock, and any changes in that ownership, to the SEC. The SEC has designated specific due dates for these reports.
Based solely on our review of copies of such reports filed with the SEC and written representations of our directors and executive offers,
we believe that all persons subject to reporting filed the required reports on time in fiscal year 2024.

 ITEM 11. EXECUTIVE COMPENSATION.

 Summary Compensation Table

 The following table sets forth information concerning
all cash and non-cash compensation awarded to, earned by or paid to the named executive officers for services rendered in all capacities
during the noted periods. No other executive officers received total compensation in excess of $100,000 during the fiscal year ended December
31, 2024.

 Stock

 Option

 Salary

 Awards

 Awards

 Total

 Name and Principal Position

 Year

 ($) (1)

 ($)

 ($) (2)(3)

 ($)

 Yunfei Li

 2023

 150,913

 170,250

 -

 321,164

 Former Chief Executive Officer (4)

 2024

 99,271

 -

 56,468

 155,739

 Zhiguang Hu

 2023

 43,585

 17,025

 -

 60,610

 Chief Executive Officer (5)

 2024

 121,387

 -

 11,294

 132,681

 Jiewei Li

 2023

 67,958

 11,350

 -

 79,308

 Chief Financial Officer and Secretary (6)

 2024

 91,047

 -

 7,529

 98,576

 Xiangyu Pei

 2023

 87,744

 56,750

 -

 144,494

 Director and Former Interim Chief Financial Officer (7)

 2024

 100,587

 -

 37,645

 138,232

 (1)

 The amounts reported in
 this table have been converted from RMB to U.S. dollars based on the average conversion rate between the U.S. dollar and RMB for
 the applicable fiscal year, or $1.00 to RMB7.1913 (fiscal year 2024 exchange rate) and $1.00 to RMB7.0719 (fiscal year 2023 exchange
 rate).

 (2)

 The value of performance-vesting stock options is computed assuming achievement of performance goals based on probable outcomes of such performance goals under ASC Topic 718. Amount shown does not reflect compensation actually received or that may be realized in the future by the recipients. In accordance with SEC regulations, such amount reflects the aggregate grant date fair value computed in accordance with FASB ASC Topic 718 for stock and option awards made in the referenced fiscal year. This performance-based option award is subject to performance and service-vesting requirements. See Note 25 of the Notes to Consolidated Financial Statements in our Form 10-K for information, including assumptions made, regarding the valuation of equity awards.

 (3)

 On November 29, 2021, the Company granted (i) Mr. Yunfei Li performance-based options to purchase a total of 200,000 shares of common stock, (ii) Mr. Jiewei Li performance-based options to purchase a total of 20,000 shares of common stock, and (iii) Ms. Xiangyu Pei performance-based options to purchase a total of 150,000 shares of common stock, under the Company's 2015 Equity Incentive Plan, with an exercise price of $1.96 per share.

 (4)

 Technology, Inc. 2015 Equity Incentive Plan, the Company granted 150,000 restricted share units (the "RSUs") to Mr. Yunfei
 Li. Each RSU represents a contingent right to receive one share of common stock. The RSUs vested in two equal installments on June 30
 and December 31, 2023, respectively.

 On
 April 11, 2023, pursuant to the CBAK Energy Technology, Inc. 2015 Equity Incentive Plan, the Company granted Mr. Yunfei Li an option to
 purchase 300,000 shares of common stock. The option vest in four equal installments semi-annually with the first installment vesting on
 June 30, 2024 and the second installment vesting on December 31, 2024.

 (5)

 Technology, Inc. 2015 Equity Incentive Plan, the Company granted 15,000 RSUs to Mr. Zhiguang Hu. Each RSU represents a contingent right
 to receive one share of common stock. The RSUs vested in two equal installments on June 30 and December 31, 2023, respectively.

 Technology, Inc. 2015 Equity Incentive Plan, the Company granted Mr. Zhiguang Hu an option to purchase 30,000 shares of common stock.
 The option vest in four equal installments semi-annually with the first installment vesting on June 30, 2024 and the second installment
 vesting on December 31, 2024.

 (6)

 Technology, Inc. 2015 Equity Incentive Plan, the Company granted 10,000 RSUs to Mr. Jiewei Li. Each RSU represents a contingent right
 to receive one share of common stock. The RSUs vested in two equal installments on June 30 and December 31, 2023, respectively.

 Technology, Inc. 2015 Equity Incentive Plan, the Company granted Mr. Jiewei Li an option to purchase 20,000 shares of common stock. The
 option vest in four equal installments semi-annually with the first installment vesting on June 30, 2024 and the second installment vesting
 on December 31, 2024.

 (7)

 Technology, Inc. 2015 Equity Incentive Plan, the Company granted 50,000 RSUs to Ms. Pei. Each RSU represents a contingent right to receive
 one share of common stock. The RSUs vested in two equal installments on June 30 and December 31, 2023, respectively.

 Technology, Inc. 2015 Equity Incentive Plan, the Company granted Ms. Pei an option to purchase 100,000 shares of common stock. The option
 vest in four equal installments semi-annually with the first installment vesting on June 30, 2024 and the second installment vesting on
 December 31, 2024.

 Summary of Employment Agreements

 The base salary shown in the Summary Compensation
Table is described in each named executive officer's respective employment agreement. The material terms of those employment agreements
are summarized below.

 We entered into employment agreements with three-year
initial terms with our named executive officers in the form of our standard employment agreements. Each of our standard employment agreements
is automatically extended by a year at the expiration of the initial term and at the expiration of every one-year extension, until terminated
in accordance with the termination provisions of the agreements, which are described below.

 Our standard employment agreement permits us to
terminate the executive's employment for cause, at any time, without notice or remuneration, for certain acts of the executive,
including but not limited to a conviction or plea of guilty to a felony, negligence or dishonesty to our detriment and failure to perform
agreed duties after a reasonable opportunity to cure the failure. An executive may terminate his employment upon one month's written
notice if there is a material reduction in his authority, duties and responsibilities or if there is a material reduction in his annual
salary before the next annual salary review. Furthermore, we may terminate the executive's employment at any time without cause
by giving one month's advance written notice to the executive officer. If we terminate the executive's employment without
cause, the executive will be entitled to a termination payment of up to three months of his or her then base salary, depending on the
length of such executive's employment with us. Specifically, the executive will receive salary continuation for: (i) one month following
a termination effective prior to the first anniversary of the effective date of the employment agreement; (ii) two months following a
termination effective prior to the second anniversary of the effective date; and (iii) three months following a termination effective
prior to or any time after the third anniversary of the effective date. The employment agreements provide that the executive will not
participate in any severance plan, policy, or program of the Company.

 Our standard employment agreement contains customary
non-competition, confidentiality, and non-disclosure covenants. Each executive officer has agreed to hold, both during and after the employment
agreement expires or is earlier terminated, in strict confidence and not to use, except as required in the performance of his duties in
connection with the employment, any confidential information, technical data, trade secrets and know-how of our company or the confidential
information of any third party, including our affiliated entities and our subsidiaries, received by us. The executive officers have also
agreed to disclose in confidence to us all inventions, designs and trade secrets which they conceive, develop or reduce to practice and
to assign all right, title and interest in them to us. In addition, each executive officer has agreed to be bound by non-competition restrictions
set forth in his or her employment agreement. Specifically, each executive officer has agreed not to, while employed by us and for a period
of one year following the termination or expiration of the employment agreement,

 approach
our clients, customers or contacts or other persons or entities, and not to interfere with the business relationship between us and such
persons and/or entities;

 assume
employment with or provide services as a director for any of our competitors, or engage in any business which is in direct or indirect
competition with our business; or

 solicit
the services of any of our employees.

 Outstanding Equity Awards at Fiscal Year-End
2024

 The following table sets forth the equity awards
outstanding at December 31, 2024 for each of our named executive officers. As of December 31, 2024, there were no outstanding stock awards
for named executive officers.

 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

 Option Awards

 Equity

 incentive

 plan

 awards:

 underlying

 underlying

 underlying

 unexercised

 Option

 unexercised

 unexercised

 unearned

 exercise

 Option

 options (#)

 options (#)

 options

 price

 expiration

 Name

 Grant Date

 exercisable

 unexercisable

 (#)

 ($)

 date

 Yunfei Li, Former

 11/29/2021

 40,000

 -

 80,000

 1.96

 09/26/2027

 Chief Executive Officer

 4/11/2023

 75,000

 -

 -

 0.978

 06/22/2029

 Zhiguang Hu,

 4/11/2023

 15,000

 -

 15,000

 0.978

 06/22/2029

 Chief Executive Officer

 Jiewei Li,

 11/29/2021

 4,000

 -

 8,000

 1.96

 09/26/2027

 Chief Financial Officer

 4/11/2023

 10,000

 -

 10,000

 0.978

 06/22/2029

 Xiangyu Pei, Director and Former Interim

 11/29/2021

 30,000

 -

 60,000

 1.96

 09/26/2027

 Chief Financial officer

 4/11/2023

 50,000

 -

 50,000

 0.978

 06/22/2029

 Compensation of Directors

 On April 11, 2023, pursuant to the 2015
Plan, each of our independent directors was granted 10,000 restricted share units, or RSUs, of the Company's common stock, which
vested in two equal installments on June 30 and December 31, 2023, respectively. On the same date, each of our independent directors was
granted an option to purchase 20,000 shares of common stock, which vest in four equal installments semi-annually with the first installment
vesting on June 30, 2024 and the second installment vesting on December 31, 2024.

 The following table sets forth the total compensation
earned by our non-employee directors during our fiscal year ended December 31, 2024:

 Fees

 Earned or

 Paid in

 Stock

 Cash

 Awards

 Total

 Name

 ($)

 ($)

 ($)

 J. Simon Xue

 20,000

 7,529

 27,529

 Martha C. Agee

 20,000

 7,529

 27,529

 Jianjun He

 20,000

 7,529

 27,529

 We do not maintain a medical, dental or retirement benefits plan for
the directors.

 Except as disclosed in this annual report, we
have not compensated, and will not compensate, our non-independent directors, Mr. Yunfei Li and Ms. Xiangyu Pei, for serving as our directors,
although they are entitled to reimbursements for reasonable expenses incurred in connection with attending our board meetings.

 The directors may determine remuneration to be
paid to the directors with interested members of the Board refraining from voting. The Compensation Committee will assist the directors
in reviewing and approving the compensation structure for the directors.

 ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

 Securities Ownership of Certain Beneficial
Owners and Management

 The following table sets forth information known
to us with respect to the beneficial ownership of our common stock as of the close of business on April 25, 2025 (the "Reference
Date") for: (i) each person known by us to beneficially own more than 5% of our voting securities, (ii) each named executive officer,
(iii) each of our directors and nominees, and (iv) all of our named executive officers and directors as a group:

 Names of Management and Names of Certain Beneficial Owners (1)

 Amount and Nature of Beneficial Ownership (1)

 Number (2)

 Percent (3)

 Officers and Directors

 Yunfei Li (5) (6) (7) (10)

 11,135,871

 12.49

 %

 Zhiguang Hu (12)

 48,638

 *

 J. Simon Xue (4)

 50,000

 *

 Martha C. Agee (4)

 70,000

 *

 Jianjun He (4)

 70,000

 *

 Xiangyu Pei (9)

 367,983

 *

 Jiewei Li (11)

 19,000

 *

 All executive officers and directors as a group (7 persons)

 11,876,492

 13.17

 %

 Principal Stockholders

 Dawei Li (7) (8)

 6,733,359

 7.49

 %

 Ping Shen

 4,654,813

 5.18

 %

 *

 Denotes less than 1% of the outstanding shares of common stock.

 (1)

 The number of shares beneficially owned is determined under SEC rules, and the information is not necessarily indicative of beneficial ownership for any other purpose. Under those rules, beneficial ownership includes any shares as to which the individual has sole or shared voting power or investment power, and also any shares which the individual has the right to acquire within 60 days of the Reference Date, through the exercise or conversion of any stock option, convertible security, warrant or other right (a "Presently Exercisable" security). Including those shares in the table does not, however, constitute an admission that the named stockholder is a direct or indirect beneficial owner of those shares.

 (2)

 Unless otherwise indicated, each person or entity named in the table has sole voting power and investment power (or shares that power with that person's spouse) with respect to all shares of common stock listed as owned by that person or entity.

 (3)

 A total of 89,939,662 shares of common stock are considered to be outstanding on the Reference Date. For each beneficial owner above, any Presently Exercisable securities of such beneficial owner have been included in the denominator, pursuant to Rule 13d-3(d)(1) under the Securities Exchange Act of 1934, as amended, or the Exchange Act.

 (4)

 On April 11, 2023, pursuant to the 2015 Plan, each of our independent directors was granted 10,000 restricted share units, or RSUs, of the Company's common stock, which vested in two equal installments on June 30 and December 31, 2023, respectively. On the same date, each of our independent directors was granted an option to purchase 20,000 shares of common stock, which vest in four equal installments semi-annually with the first installment (5,000) vesting on June 30, 2024 and the second installment (5,000) vesting on December 31, 2024.

 (5)

 On June 30, 2015, Mr. Yunfei Li was granted 30,000
 restricted shares of the Company's common stock, under the 2015 Plan. The restricted shares vest over a three-year period in 12
 equal quarterly installments with the first vesting date on June 30, 2015. On April 19, 2016, pursuant to the 2015 Plan, the Company granted
 Mr. Yunfei Li an aggregate of 150,000 restricted shares of the Company's common stock. The restricted shares vest semi-annually
 in 6 equal installments over a three-year period with the first vesting on December 31, 2016. On February 17, 2017, we signed a letter
 of understanding with each of eight individual investors, including our former CEO, Mr. Yunfei Li, whereby these stockholders agreed in
 principle to subscribe for new shares of our common stock totaling $10 million. The issue price would be determined with reference to
 the market price prior to the issuance of new shares. In January 2017, the stockholders paid us a total of $2.1 million as refundable
 deposits, among which, Mr. Yunfei Li agreed to subscribe new shares totaling $1.12 million and pay a refundable deposit of $0.2 million.
 In April and May 2017, we received cash of $9.6 million from these stockholders. On May 31, 2017, we entered into a securities purchase
 agreement with these investors, pursuant to which we agreed to issue an aggregate of 6,403,518 shares of common stock to these investors,
 at a purchase price of $1.50 per share, for an aggregate price of $9.6 million, including 746,018 shares for Mr. Yunfei Li, our former
 CEO. On June 22, 2017, we issued the shares to the investors.

 On August 23, 2019, pursuant to the 2015 Plan,
 the Company granted Mr. Yunfei Li an aggregate of 400,000 restricted share units of the Company's common stock. The share units
 vest semi-annually in 6 equal installments over a three-year period with the first vesting on September 30, 2019.

 On April 11, 2023, pursuant to the 2015 plan,
 the Company granted Mr. Yunfei Li an aggregate of 150,000 restricted share units of the Company's common stock. The share units
 vest in two equal installments on June 30 and December 31, 2023, respectively.

 Includes a total of 115,000 outstanding options,
comprised of:

 On
November 29, 2021, pursuant to the 2015 Plan, the Company granted Mr. Yunfei Li an aggregate of 200,000 performance-based stock options
to purchase the Company's common stock. Subject to continued service and attainment of the performance goals relating to the Company's
operating results for each of the fiscal years ending December 31, 2021, 2022, 2023, 2024 and 2025, the options will vest semi-annually
in 10 equal installments over a 5-year period with the first vesting on May 30, 2022. The options will expire on the 70-month anniversary
of the grant date. The performance goals for 2021 were met, resulting in vesting of 20,000 options on each of May 30 and November 30,
2022. However, the performance criteria for 2022 or 2023 were not met, and thus, no additional portion of the option was vested; and

 On
April 11, 2023, pursuant to the 2015 plan, the Company granted Mr. Yunfei Li an aggregate
of 300,000 options to purchase common stock. The options were scheduled to vest in four equal installments semi-annually with the first
installment (75,000) vesting on June 30, 2024. Mr. Yunfei Li has forfeited the remaining 292,500 unvested options.

 (6)

 On January 7, 2019, we entered into a cancellation agreement with Mr. Yunfei Li and Mr. Dawei Li, who loaned an aggregate of approximately $5.2 million (the "First Debt") to the Company's subsidiary, CBAK Power. Pursuant to the terms of the cancellation agreement, the creditors agreed to cancel the First Debt in exchange for an aggregate of 5,098,040 shares of common stock of the Company at an exchange price of $1.02 per share. According to the amount of loan, 3,431,373 and 1,666,667 shares were issued to Mr. Dawei Li and Mr. Yunfei Li, respectively. Upon receipt of the shares, the creditors released the Company from any claims, demands and other obligations relating to the First Debt.

 (7)
 On July 26, 2019, we entered into a cancellation agreement with
Mr. Dawei Li, Mr. Yunfei Li and Asia EVK, who loaned an aggregate of approximately $7.1 million to CBAK Power (collectively, the "Third
Debt" and "Fourth Debt"). Pursuant to the terms of the cancellation agreement, the creditors agreed to cancel the Third
Debt and Fourth Debt in exchange for an aggregate of 7,092,219 shares of common stock of the Company at an exchange price of $1.05 per
share. According to the amount of loan, 1,384,717, 2,938,067 and 2,769,435 shares were issued to Mr. Dawei Li, Mr. Yunfei Li and Asia
EVK, respectively. Upon receipt of the shares, the creditors released the Company from any claims, demands and other obligations relating
to the Third Debt and Fourth Debt.

 (8)
 On
October 14, 2019, we entered into a cancellation agreement with Mr. Shangdong Liu, Mr. Shibin Mao, Ms. Lijuan Wang and Mr. Ping Shen,
who loaned an aggregate of approximately $4.2 million to CBAK Power (the "Fifth Debt") and the unpaid earnest money of approximately
$1.0 million. Pursuant to the terms of the cancellation agreement, the creditors agreed to cancel the Fifth Debt and convert the unpaid
earnest money in exchange for an aggregate of 8,599,717 shares of common stock of the Company at an exchange price of $0.6 per share.
According to the amount of loan, 528,053, 3,536,068, 2,267,798 and 2,267,798 shares were issued to Mr. Shangdong Liu, Mr. Shibin Mao,
Ms. Lijuan Wang and Mr. Ping Shen, respectively. Upon receipt of the shares, the creditors released the Company from any claims, demands
and other obligations relating to the Fifth Debt and the unpaid earnest money.

 (9)

 On April 19, 2016, Ms. Pei was granted 50,000
 restricted shares under the 2015 Plan. Such shares vest semi-annually in 6 equal installments over a three-year period with the first
 vesting on December 31, 2016. On August 23, 2019, pursuant to the 2015 Plan, the Company granted Ms. Pei an aggregate of 180,000 restricted
 share units of the Company's common stock. The share units vest semi-annually in 6 equal installments over a three-year period with
 the first vesting on September 30, 2019.

 On April 11, 2023, pursuant to the 2015 plan,
 the Company granted Ms. Xiangyu Pei an aggregate of 50,000 restricted share units of the Company's common stock. The share units
 vest in two equal installments on June 30 and December 31, 2023, respectively.

 Includes a total of 80,000 outstanding options,
comprised of:

 On
 November 29, 2021, pursuant to the 2015 Plan, the Company granted Ms. Pei an aggregate of
 150,000 performance-based stock options to purchase the Company's common stock. Subject
 to continued service and attainment of the performance goals relating t o
 the Company's operating results for each of the fiscal years ending December 31, 2021,
 2022, 2023, 2024 and 2 025, the options will vest semi-annually in 10 equal installments
 over a 5-year period with the first vesting on May 30, 2022. The options will expire on the
 70-month anniversary of the grant date. The performance goals for 2021 were met, resulting
 in vesting of 15,000 options on May 30 and November 30, 2022, respectively. However,
 the performance criteria for 2022 or 2023 were not met, and thus, no additional portion of
 the option was vested; and

 Also,
on April 11, 2023, pursuant to the 2015 plan, the Company granted Ms. Xiangyu Pei an aggregate of 100,000 options to purchase common
stock. The options vest in four equal installments semi-annually with the first installment (25,000) vesting on June 30, 2024 and the
second installment (25,000) vesting on December 31, 2024.

 (10)

 On April 27, 2020, the Company entered into
a cancellation agreement with Mr. Yunfei Li, Mr. Ping Shen and Asia EVK (the creditors), who loaned an aggregate of approximately $4.3
million to CBAK Power (the "Sixth Debt"). Pursuant to the terms of the cancellation agreement, Mr. Yunfei Li, Mr. Ping Shen
and Asia EVK agreed to cancel the Sixth Debt in exchange for 2,062,619, 4,714,557 and 2,151,017 shares of common stock, respectively,
at an exchange price of $0.48 per share. Upon receipt of the shares, the creditors released the Company from any claims, demands and
other obligations relating to the Sixth Debt.

 (11)

 On April 11, 2023, pursuant to the 2015 plan,
 the Company granted Mr. Jiewei Li an aggregate of 10,000 restricted share units of the Company's common stock. The share units vest
 in two equal installments on June 30 and December 31, 2023, respectively.

 Includes a total of 14,000 outstanding options,
comprised of:

 On
November 29, 2021, Mr. Jiewei Li was granted an option to purchase 20,000 shares of common stock. The option vests in 10 equal semi-annual
installments based on the Company's satisfaction of certain performance criteria for each of the fiscal year ending December 31,
2021, 2022, 2023, 2024 and 2025. The performance criteria for 2021 were met, resulting in vesting of 2,000 options on each of May 30,
2022 and November 30, 2022. The performance criteria for 2022 or 2023 were not met, and thus, no additional portion of the option was
vested; and

 On
April 11, 2023, pursuant to the 2015 plan, the Company granted Mr. Jiewei Li an aggregate of 20,000 options to purchase common stock.
The options vest in four equal installments semi-annually with the first installment (5,000) vesting on June 30, 2024 and the second
installment (5,000) vesting on December 31, 2024.

 (12)

 On April 11, 2023, pursuant to the 2015 plan,
 the Company granted Mr. Zhiguang Hu an aggregate of 15,000 restricted share units of the Company's common stock. The share units
 vest in two equal installments on June 30 and December 31, 2023, respectively.

 Includes a total of 15,000 outstanding options,
comprised of:

 On
April 11, 2023, pursuant to the 2015 plan, the Company granted Mr. Zhiguang Hu an aggregate of 30,000 options to purchase common stock.
The options vest in four equal installments semi-annually with the first installment (7,500) vesting on June 30, 2024 and the second
installment (7,500) vesting on December 31, 2024.

 Changes in Control

 There are no arrangements known to us, including
any pledge by any person of our securities, the operation of which may at a subsequent date result in a change in control of the Company.

 Securities Authorized for Issuance Under Equity Compensation Plans

 2015 Equity Incentive Plan

 The following table sets forth certain information
about the securities authorized for issuance under the 2015 Plan as of December 31, 2024. Options exercisable for all of the securities
shown in column (a) below were granted under our 2015 Plan.

 remaining

 available for

 securities to

 future

 be issued
 upon

 Weighted-
 average

 issuance
 under equity

 exercise of

 exercise price

 compensation

 outstanding
 options,

 of outstanding
 options,

 plans
 (excluding

 warrants

 warrants

 and rights

 and rights

 reflected in

 (a)

 (b)

 column

 Equity compensation plans approved by security holders

 2,890,128

 $
 1.33

 3,850,311

 Equity compensation plans not approved by security holders

 -

 -

 -

 Total

 2,890,128

 $
 1.33

 3,850,311

 (a)

 Amounts include 2,890,128 outstanding options.

 (b)

 The weighted-average exercise price is calculated based solely on the exercise price of the outstanding options and does not reflect shares that will be issued upon the vesting of outstanding RSUs, which have no exercise price.

 On June 12, 2015, shareholders of the Company
approved the 2015 Plan for employees, directors and consultants of the Company and its affiliates. The maximum aggregate number of shares
that may be issued under the 2015 Plan is ten million (10,000,000) shares.

 On June 30, 2015, pursuant to the 2015 Plan, the
Company granted an aggregate of 690,000 restricted shares of the Company's common stock to certain employees, officers and directors
of the Company. In accordance with the vesting schedule of the grant, the restricted shares vest in twelve equal quarterly installments
on the last day of each fiscal quarter beginning on June 30, 2015 and ending on March 31, 2018.

 On April 19, 2016, pursuant to the 2015 Plan,
the Company granted an aggregate of 500,000 restricted shares of the Company's common stock to certain employees, officers and directors
of the Company. The restricted shares vest semi-annually in 6 equal installments over a three-year period with the first vesting on December
31, 2016.

 On August 23, 2019, pursuant to the 2015 plan,
the Company granted an aggregate of 1,887,000 restricted share units of the Company's common stock to certain employees, officers
and directors of the Company. There are two types of vesting schedules, (i) the share units will vest semi-annually in 6 equal installments
over a three-year period with the first vesting on September 30, 2019; (ii) the share units will vest annually in 3 equal installments
over a three-year period with the first vesting on March 31, 2020.

 On October 23, 2020, pursuant to the Company's
2015 Plan, the Compensation Committee granted an aggregate of 100,000 restricted share units of the Company's common stock to an
employee of the Company. The restricted shares will vest semi-annually in six equal installments over a three-year period with the first
vesting on October 30, 2020.

 On November 29, 2021, pursuant to the 2015 Plan,
the Compensation Committee granted an aggregate of 2,750,002 performance-based stock options to purchase the Company's common stock
to certain employees, officers and directors of the Company. Subject to continued service and attainment of the performance goals, these
options will vest semi-annually in 10 equal installments over a five-year period with the first vesting on May 30, 2022. The options will
expire on the 70-month anniversary of the grant date.

 On April 11, 2023, pursuant to the 2015 Plan,
the Compensation Committee granted an aggregate of (i) 894,000 restricted share units and (ii) 2,124,000 options to purchase the Company's
common stock, to certain employees, officers and directors of the Company. Such restricted share units vested in two equal installments
on June 30 and December 31, 2023, respectively. The options vest in four equal installments semi-annually with the first installment vesting
on June 30, 2024 and the second installment vesting on December 31, 2024.

 On August 22, 2023, pursuant to the 2015 Plan,
the Compensation Committee granted an aggregate of (i) 40,000 restricted share units and (ii) 160,000 options to purchase the Company's
common stock, to two employees. Such restricted share units vest in two equal installments on October 15, 2023 and April 15, 2024, respectively.
The options vest in four equal installments semi-annually with the first installment vesting on February 15, 2025.

 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED
TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

 Transactions with Related Persons

 The following is a summary of reportable transactions
in which we were or are to be a participant and the amount involved exceeded or exceeds the lesser of $120,000 or one percent of the average
of our total assets at year end for the last two completed fiscal years, and in which any related person had or will have a direct or
indirect material interest (other than compensation described under Item 11 "Executive Compensation").

 Name of Entity or Individual

 Relationship with the Company

 New Era Group Zhejiang New Energy Materials Co., Ltd.

 Shareholder of company's subsidiary

 Zhengzhou BAK Battery Co., Ltd

 Note a

 Shenzhen BAK Battery Co., Ltd ("SZ BAK")

 Former subsidiary and refer to Note b

 Shenzhen BAK Power Battery Co., Ltd ("BAK SZ")

 Former subsidiary and refer to Note b

 Zhejiang Shengyang Renewable Resources Technology Co., Ltd.

 Note c

 Fuzhou BAK Battery Co., Ltd

 Note d

 Zhengzhou BAK Electronics Co., Ltd

 Note e

 Zhengzhou BAK New Energy Vehicle Co., Ltd

 Note f

 (a)

 Mr. Xiangqian Li, the Company's former CEO, is a director of Zhengzhou BAK Battery Co., Ltd. Zhengzhou BAK Battery Co., Ltd is a wholly owned subsidiary of BAK SZ.

 (b)

 Mr. Xiangqian Li, the Company's former CEO, is a director of Shenzhen BAK Battery Co., Ltd and Shenzhen BAK Power Battery Co., Ltd. On September 27, 2023, Nanjing CBAK New Energy Technology Co., Ltd. ("Nanjing CBAK") entered into an Equity Transfer Agreement (the "Equity Transfer Agreement") with Shenzhen BAK Battery Co., Ltd. ("SZ BAK"), under which SZ BAK shall sell a five percent (5%) equity interest in Shenzhen BAK Power Battery Co., Ltd. ("BAK SZ") to Nanjing CBAK for a purchase price of RMB260 million (approximately $35.7 million) (note 14).

 (c)

 On September 27, 2023, Hitrans entered into an Equity Transfer Contract (the "Equity Transfer Contract") with Mr. Shengyang Xu, pursuant to which Hitrans will initially acquire a 26% equity interest in Zhejiang Shengyang Renewable Resources Technology Co., Ltd. ("Zhejiang Shengyang") from Mr. Xu, an individual who currently holds 97% of Zhejiang Shengyang, for a price of RMB28.6 million (approximately $3.9 million) (the "Initial Acquisition"). Neither Mr. Xu, nor Zhejiang Shengyang is related to the Company.

 (d)

 Zhengzhou BAK Battery Co., Ltd has 51% equity interest in Fuzhou BAK Battery Co., Ltd. Zhengzhou BAK Battery Co., Ltd is a wholly owned subsidiary of BAK SZ.

 (e)

 Mr. Xiangqian Li, the Company's former CEO, is a director of BAK SZ, which has 95% equity interests in Zhengzhou BAK Electronics Co., Ltd.

 (f)

 Shenzhen BAK Battery Co., Ltd was the former shareholder of Zhengzhou BAK New Energy Vehicle Co., Ltd to April 10, 2023.

 Related party transactions

 The Company entered into the following significant related party transactions:

 For the
 year ended
 2023

 For the
 year ended
 2024

 Purchase of batteries from Zhengzhou BAK Battery Co., Ltd

 $
 10,999,732

 $
 7,049,867

 Purchase of batteries from Fuzhou BAK Battery Co., Ltd

 -

 69,133

 Purchase of materials from Zhejiang Shengyang

 12,725,193

 4,352,197

 Purchase of materials from Zhejiang Shengyang in relation to non-operating agency-based service

 -

 1,794,581

 Sales of cathode raw materials to Zhengzhou BAK Battery Co., Ltd

 27,872,002

 18,661,537

 Sales of cathode raw materials to BAK SZ

 66,560

 31,783

 Sales of cathode raw materials to Zhengzhou BAK Electronics Co., Ltd

 590,834

 388,430

 Sales of batteries to Fuzhou BAK Battery Co., Ltd

 105,010

 76,090

 Sales of batteries to Zhengzhou BAK Battery Co., Ltd

 -

 12,232

 Related party balances

 Apart from the above, the Company recorded the
following significant related party balances as of December 31, 2023 and 2024:

 Receivables from former subsidiary

 2023

 2024

 Receivables from BAK SZ

 $
 74,946

 $
 12,399

 Balance as of December 31, 2023 and 2024 represented
trade receivable for sales of cathode raw materials to BAK SZ.

 Other balances due from / (to) related
parties

 2023

 2024

 Trade receivable, net – Zhengzhou BAK Battery Co., Ltd (i)

 $
 12,441,715

 $
 5,970,184

 Trade receivable, net – Zhengzhou BAK Electronics Co., Ltd. (ii)

 $
 226,143

 $
 135,012

 Bills receivable – Issued by Zhengzhou BAK Battery Co., Ltd (iii)

 $
 -

 $
 459,905

 Prepayment to supplier – Zhengzhou BAK Battery Co., Ltd (iv)

 $
 -

 $
 3,738,228

 Prepayment to supplier – Zhengzhou BAK New Energy Vehicle Co., Ltd (v)

 $

 $
 205,496

 Trade payable, net – Zhengzhou BAK Battery Co., Ltd (vi)

 $
 803,685

 $
 66,084

 Trade payable, net – Zhejiang Shengyang (vii)

 $
 3,489,324

 $
 1,486,765

 Payable for non-operating agency-based service – Zhejiang Shengyang (viii)

 $
 -

 $
 1,338,794

 Deposit paid for acquisition of long-term investments – BAK SZ (note 14)

 $
 7,101,492

 $
 15,864,318

 Dividend payable to non-controlling interest of Hitrans (note 17)

 $
 1,256,745

 $
 1,221,915

 (i)

 Representing trade receivable from sales of cathode raw materials to Zhengzhou BAK Battery Co., Ltd. Up to the date of this report, Zhengzhou BAK Battery Co., Ltd. repaid $4.5 million to the Company.

 (ii)

 Representing trade receivables from sales of cathode raw materials to Zhengzhou BAK Electronics Co., Ltd. Up to the date of this report, Zhengzhou BAK Electronics Co., Ltd repaid $107,064 to the Company.

 (iii)

 Representing bills receivable issued by Zhengzhou BAK Battery Co., Ltd.as of December 31, 2024 were pledged to bank as security for issuance of bills payable (note 16).

 (iv)

 Representing the prepayments to Zhengzhou BAK Battery Co., Ltd for purchase of batteries. The balance was not utilized up to the date of this report.

 (v)

 Representing the prepayments for purchase of raw materials for manufacturing. The contract was cancelled and up to the date of this report, the prepayment was refunded to the Company.

 (vi)

 Representing trade payables on purchase of batteries. Up to the date of this report, the Company settled nil to Zhengzhou BAK Battery Co., Ltd.

 (vii)

 Representing trade payables on purchase of materials for manufacturing from Zhejiang Shengyang. Up to the date of this report, the Company settled in full to Zhejiang Shengyang.

 (viii)

 Representing payables on purchase of materials from Zhejiang Shengyang in relation to non-operating agency-based service. Up to the date of this report, the Company settled $0.7 million to Zhejiang Shengyang.

 Payables to a former subsidiary

 Payables to a former subsidiary as of December
31, 2023 and 2024 consisted of the following:

 2023

 2024

 Payables to Shenzhen BAK Power Battery Co., Ltd

 $
 (411,111
)

 $
 (419,849
)

 Balance as of December 31, 2023 and 2024 consisted
of payables for purchase of inventories from Shenzhen BAK Power Battery Co., Ltd.

 Promoters and Certain Control Persons

 We did not have any promoters at any time during
the past five fiscal years.

 Director Independence

 J. Simon Xue, Martha
C. Agee and Jianjun He each serves on our Board as an "independent director" as defined by Rule 5605(a)(2) of the NASDAQ Listing
Rule.

 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

 On July 18, 2023, the
Board of Directors of CBAK Energy Technology, Inc. (the "Company") approved the dismissal of Centurion ZD CPA & Co.
("Centurion") as independent registered public accounting firm of the Company, and approved the appointment of ARK Pro
CPA & Co ("ARK") as its independent registered public accounting firm.

 Audit Fees

 Centurion billed us $256,813 for the fiscal year
ended December 31, 2023, for professional services rendered for the audit of our annual financial statements, including reviews of the
interim financial statements included in our quarterly reports on Form 10-Q and assistance with the Securities Act filings.

 ARK billed us $62,000 for the fiscal year ended December 31, 2023 for
professional services rendered for the audit of our annual financial statements, including reviews of the interim financial statements
included in our quarterly reports on Form 10-Q.

 ARK billed us $479,000 for the fiscal year ended
December 31, 2024 for professional services rendered for the audit of our annual financial statements, including reviews of the interim
financial statements included in our quarterly reports on Form 10-Q.

 Audit-Related Fee s

 The fees for the audit-related services billed
and to be billed by Centurion for the year ended December 31, 2023 and 2023 amounted to nil.

 The fees for the audit-related services billed
and to be billed by ARK for the year ended December 31, 2024 and 2023 amounted to $25,000 and nil.

 Tax Fees

 We did not engage our principal accountants to
provide tax compliance, tax advice or tax planning services during the last two fiscal years.

 All Other Fees

 We did not engage our principal accountants to
render services to us during the last two fiscal years, other than as reported above.

 Pre-Approval Policies
and Procedures

 All auditing services
and permitted non-audit services (including the fees and terms thereof) to be performed for the Company by our independent auditors must
be approved by the Audit Committee in advance, except non-audit services (other than review and attestation services) if such services
fall within exceptions established by the SEC. The Audit Committee will pre-approve any permissible non-audit services to be provided
by the Company's independent auditors on behalf of the Company that do not fall within any exception to the pre-approval requirements
established by the SEC. The Audit Committee may delegate to one or more members the authority to pre-approve permissible non-audit services,
but any such delegate or delegates must present their pre-approval decisions to the Audit Committee at its next meeting. All of our accountants'
services described above were pre-approved by the Audit Committee or by one or more members under the delegate authority described above.

 ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES.

 Exhibit Index

 Exhibit No.

 Description

 31.3

 Certifications of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 31.4

 Certifications of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 101.INS

 101.SCH

 101.CAL

 101.DEF

 101.LAB

 101.PRE

 SIGNATURES

 Pursuant to the requirements of Section 13 or
15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

 Date: April 30, 2025

 CBAK ENERGY TECHNOLOGY, INC.

 By:

 /s/ Zhiguang Hu

 Zhiguang Hu

 Chief Executive Officer

 0001117171 true FY

 2024-01-01
 2024-12-31

 2024-06-28

 2025-04-25

 cbat: YunfeiLiMember

 2021-11-29

 cbat: YunfeiLiMember

 2023-04-11

 cbat: ZhiguangHuMember

 2023-04-11

 cbat: JieweiLiMember

 2021-11-29

 cbat: JieweiLiMember

 2023-04-11

 cbat: XiangyuPeiMember

 2021-11-29

 cbat: XiangyuPeiMember

 2023-04-11