I have had a small torch for a few years that took either a AA cell or a Ultrafire YF 14500 (3.7v).(I think I ordered the torch, batteries and charger together) Recently I mislaid it and ordered another off EBay.
It arrived today - marked HWA-WYS Ultrafire. and CREE. Looks identical to original (Focussing lens)
Tested it with a conventional AA and it was fine - cautiously tried it with the 3.7v which has been fine on the original - it caused the light to flash on and off. Is this some pretection mode for being over-volt?