Highpower International Subsidiary, Springpower Technology (Shenzhen) Co. Ltd., Passes China's National High-Tech Enterprise ...
August 22 2013 - 6:00AM
Marketwired
Highpower International, Inc. (NASDAQ: HPJ),
a developer, manufacturer and marketer of nickel-metal hydride
(Ni-MH) and lithium rechargeable batteries and battery solutions,
today announced that its wholly-owned subsidiary, Springpower
Technology (Shenzhen) Co. Ltd ("Springpower"), has been awarded
National High-Tech Enterprises status and certification from the
Science and Technology Innovation Commission of Shenzhen.
"Technological innovation, quality, and performance are core
competencies of Highpower. The products we deliver to our customers
are manifested with these values. We are very pleased that
Springpower, a fast growing subsidiary of Highpower, was recognized
by the Science and Technology Innovation Commission of Shenzhen,"
stated Mr. George Pan, Chairman and Chief Executive Officer of
Highpower International. "In addition, as one of China's National
High-Tech Enterprises, Springpower will benefit from a reduced
income tax rate of 15% versus 25% for non High-tech status.
Consequently, we will be able to make a greater investment in
R&D toward developing next generation lithium battery products
and enable the long-term growth of our company," concluded Mr.
Pan.
"The lithium battery industry is under rapid development and our
customers' needs are constantly evolving," said Mr. Wenliang Li,
Chief Technology Officer of Highpower International. "Therefore we
put our R&D efforts as a top strategic priority and being
recognized as a National High-Tech Enterprise is another
acknowledgement of our continually improving and advanced
technologies."
About China's National High-Tech
Enterprises
The certification of National High-Tech Enterprises was started
in the early 1990s in order to establish China's high-tech industry
and promote the rapid development of high tech enterprises. The
State Council issued "conditions and measures of the high and new
technology enterprises in National High Tech Industrial Development
Zone (Guo Fa [1991] No. 12)" in 1991 and authorized the State
Science and Technology Commission to organize High-Tech Enterprises
of National High-Tech Industrial Development Zone. It set up a
series of preferential policies in tax, financial and trade to
support the development of High-Tech Enterprises.
About Highpower International, Inc.
Highpower International was founded in 2001 and produces
high-quality Nickel-Metal Hydride (Ni-MH) and lithium-based
rechargeable batteries used in a wide range of applications such as
electric bikes, energy storage systems, power tools, medical
equipment, digital and electronic devices, personal care products,
and lighting, etc. With over 3,000 employees and advanced
manufacturing facilities located in Shenzhen and Huizhou of China,
Highpower is committed to clean technology, not only in the
products it makes, but also in the processes of production. The
majority of Highpower International's products are distributed to
worldwide markets mainly in the United States, Europe, China and
Southeast Asia. Forward Looking
Statements
This press release contains "forward-looking statements" within
the meaning of the "safe-harbor" provisions of the Private
Securities Litigation Reform Act of 1995 that are not historical
facts. These statements can be identified by the use of
forward-looking terminology such as "believe," "expect," "may,"
"will," "should," "project," "plan," "seek," "intend," or
"anticipate" or the negative thereof or comparable terminology, and
include discussions of strategy, and statements about industry
trends and the Company's future performance, operations and
products. Such statements involve known and unknown risks,
uncertainties and other factors that could cause the Company's
actual results to differ materially from the results expressed or
implied by such statements. For a discussion of these and other
risks and uncertainties see "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in the Company's public filings with the SEC. Although
the Company believes that the expectations reflected in such
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. The
Company has no obligation to update the forward-looking information
contained in this press release.
Financial Profiles, Inc. Tricia Ross +1-916-939-7285 Email
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