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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 18, 2005
China BAK Battery, Inc.
(Exact Name of Registrant as Specified in Charter)
Nevada 000-49712 86-0442833
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
BAK Indistrial Park, No. 1 BAK Street 518119
Kuichong Town, Longgang District (Zip Code)
Shenzhen, Peoples Republic of China
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (86-75) 8977-0093
Not applicable.
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 1.02. Termination of Material Definitive Agreement
On August 18, 2005, China BAK Battery, Inc.'s subsidiary Shenzhen BAK
Battery Co., Ltd. ("BAK Battery") repaid its outstanding obligations under its
Loan Agreement dated May 18, 2005 with Shenzhen Development Bank (the "Loan
Agreement") and terminated the agreement. BAK Battery paid Shenzhen Development
Bank an aggregate of approximately USD$5.77 million to extinguish the Loan
Agreement. The repayment was made out of the cash deposit of approximately
US$6.04 million that BAK Battery had pledged to Shenzhen Development Bank
pursuant to a Guaranty Contract dated May 15, 2005 (the "Guaranty") as security
for the Loan Agreement. The Guaranty was also terminated. BAK Battery did not
incur any penalties in terminating the Loan Agreement or the Guaranty.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CHINA BAK BATTERY, INC.
Date: August 23, 2005 By: /s/ Yongbin Han
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Yongbin Han
Chief Financial Officer