DALLAS, Aug. 18, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Advanced Battery Technologies Inc. (Nasdaq:ABAT). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/lp/ABAT
Advanced Battery Technologies Inc. (ABAT) is a holding company with one subsidiary, Cashtech Investment Ltd. (Cashtech). Cashtech Investment Ltd. is also a holding company with only one subsidiary, Heilongjiang ZhongQiang Power-Tech Co. Ltd. (ZQ Power-Tech). ABAT also owns a 49% interest in Beyond E-Tech Inc., a company that distributes cellular telephones in the United States. In April 2009, Advanced Battery Technologies, Inc. completed the acquisition of Wuxi Angell Autocycle Co. Ltd.
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In the report, the analyst notes:
"The Company had total revenues of $22.8 million for the three months ended June 30, 2010, an increase of $9.1 million or 65.8%, compared to $13.8 million for the three months ended June 30, 2009. The increase in revenues was primarily due to the contribution of sales from the electric vehicle business, which the Company acquired on May 4, 2009. Sales of electric vehicles for the three months ended June 30, 2010, totaled $12.6 million, compared to $3.6 million in the three months ended June 30, 2009.
"China has become an integral part of the increasing global economy. Chinese enterprises must meet and face worldwide competition that brings with it a unique set of challenges. It is in the front of this ever-changing technology society where leaders of ABAT keep abreast of the market and keep in step with the development of the latest and most sophisticated battery technologies."
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