Xiangyu Pei
CBAK Energy TechnologyAbout Xiangyu Pei
Xiangyu Pei, age 35, has served as a director of CBAK Energy Technology, Inc. (CBAT) since September 2021. She was Interim Chief Financial Officer from August 23, 2019 to August 22, 2023 and continues to serve in CBAT’s finance department; she previously was financial controller at subsidiary CBAK Power and served as Company Secretary (2017–2023). She holds a PhD in World Economics from Jilin University, China .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CBAK Energy Technology, Inc. | Director | Sep 2021–present | Board member; not on standing committees |
| CBAK Energy Technology, Inc. | Interim Chief Financial Officer | Aug 23, 2019–Aug 22, 2023 | Oversaw auditing, accounting, financial reporting, IR |
| CBAK Energy Technology, Inc. | Company Secretary | 2017–Aug 2023 | Corporate governance administration |
| CBAK Power (subsidiary) | Financial Controller | Since 2017 | Finance leadership at subsidiary |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| None disclosed | — | — | The company states no director has held any directorship with any other public company within the past five years . |
Board Governance
- Independence: The Board determined only non‑employee directors J. Simon Xue, Martha C. Agee, and Jianjun He are independent; Pei is not independent .
- Committees: Three standing committees (Audit, Compensation, Nominating & Corporate Governance) are comprised entirely of independent directors (Agee, Xue, He). Pei is not a member of these committees .
- Chair structure: As of 2025, the Board operates without a designated Chair, with directors presiding on a rotating basis and prepared to elect a Chair if circumstances warrant .
- Attendance: In FY2024 the Board met twice and acted by unanimous written consent four times; each director attended at least 75% of Board and applicable committee meetings .
Fixed Compensation
Named Executive Officer compensation (Pei’s employment-related pay; CBAT does not pay non‑independent directors for board service):
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Salary ($) | 88,556 | 87,744 | 100,587 |
| Stock Awards ($) | 27,000 | 56,750 | — |
| Option Awards ($) | — | — | 37,645 |
| Total ($) | 115,556 | 144,494 | 138,232 |
- CBAT does not compensate non‑independent directors (including Pei) for board service, though reimburses reasonable meeting expenses .
Performance Compensation
Equity awards and terms:
| Grant Type | Grant Date | Quantity | Vesting Schedule | Performance Linkage | Strike | Expiration |
|---|---|---|---|---|---|---|
| Performance Stock Options | Nov 29, 2021 | 150,000 | 10 equal semi-annual tranches (May/Nov each year) over 5 years, contingent on annual operating performance (FY2021–FY2025) | Operating results; FY2021 met → 15,000 vested May 30, 2022 and 15,000 Nov 30, 2022; FY2022–FY2024 not met → no vesting | $1.96 | Sep 26, 2027 |
| Time-based Options | Apr 11, 2023 | 100,000 | Four equal semi-annual tranches; first on Jun 30, 2024; second on Dec 31, 2024; third on Jun 30, 2025; fourth expected Dec 31, 2025 | None disclosed | $0.978 | Jun 22, 2029 |
Performance realization summary (performance options):
| Performance Year | Vesting Achieved? | Vested Units | Vest Dates |
|---|---|---|---|
| FY2021 | Yes | 30,000 | May 30, 2022; Nov 30, 2022 |
| FY2022 | No | 0 | — |
| FY2023 | No | 0 | — |
| FY2024 | No | 0 | — |
RSU history:
- 50,000 RSUs granted Apr 11, 2023; vested in two equal tranches on Jun 30, 2023 and Dec 31, 2023 .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Interlocks/Conflicts |
|---|---|---|---|
| None disclosed | — | — | None disclosed; company notes no director held other public company directorships in past 5 years . |
Expertise & Qualifications
- Deep internal finance leadership across CBAT and CBAK Power; oversaw auditing, accounting, financial reporting, and investor relations during interim CFO tenure .
- PhD in World Economics (Jilin University), adding macroeconomic and international trade perspective to board deliberations .
Equity Ownership
| Ownership Metric | Amount |
|---|---|
| Beneficial Ownership (shares) | 392,983; denotes <1% of shares outstanding |
| Presently Exercisable Options Included | Total of 105,000 options considered present exercisable as of record date (30,000 from 2021 performance grant; 75,000 from 2023 time-based grant through Jun 30, 2025) |
| Options Status at FY-end 2024 | 80,000 exercisable; 110,000 unearned (60,000 performance; 50,000 time-based) |
| Strike Prices | $1.96 (perf); $0.978 (time-based) |
| Expirations | Sep 26, 2027 (perf); Jun 22, 2029 (time-based) |
Governance Assessment
- Independence and committee access: Pei is a non‑independent director and does not sit on Audit, Compensation, or Nominating & Governance committees, which are fully independent (Agee/Xue/He), limiting her formal role in oversight of financial reporting, pay, and nominations .
- Director pay alignment: CBAT does not pay non‑independent directors for board service, reducing potential cash-based conflicts; Pei’s compensation is tied to her employee role with equity exposure via RSUs/options .
- Performance linkage credibility: Performance stock options required company operating performance; only FY2021 targets were met (2022–2024 missed), reducing realized equity from performance grants—an alignment-positive signal that awards did not vest when targets were not achieved .
- Attendance: Minimum 75% attendance in 2024 across Board/committees is disclosed, meeting common governance expectations .
- RED FLAGS:
- Non‑independent status while serving as a director (and recent finance leadership) can raise concerns about board independence and potential management influence on the board .
- One late Form 4 filing for Pei in FY2023 (and a late filing for the former CEO) signals minor compliance lapses in insider reporting .
- Contracts/Severance: Standard employment agreement with CBAT includes up to three months’ salary continuation upon no‑cause termination (tiered by service length), one‑year non‑compete, and confidentiality/IP assignment provisions—no change‑of‑control or gross‑up terms disclosed .
Overall, Pei brings internal financial expertise and meaningful equity exposure; however, her non‑independent status and absence from key committees constrain her governance influence and raise independence optics. Performance-based awards have largely not vested due to missed targets, reinforcing pay-for-performance alignment .