SAN FRANCISCO and SHENZHEN, China, Oct.
31, 2014 /PRNewswire/ -- Highpower
International, Inc. ("Highpower International" or "the Company")
(NASDAQ: HPJ), a developer, manufacturer, and marketer of
lithium and nickel-metal hydride (Ni-MH) rechargeable batteries,
and a battery management systems and battery recycling provider,
today announced that the Company's wholly-owned subsidiary, Icon
Energy System Co. Ltd. ("Icon"), and Ganzhou Highpower Technology
(Shenzhen Highpower holds 60% of its equity interest) have been
awarded National High-Tech Enterprise status and certification by
the Science and Technology Innovation Commission of Shenzhen and Science and Technology Department
of Jiangxi Province.
"Technological excellence is a core competency of Highpower.
Today, the fact that four out of the five subsidiaries of Highpower
International, Inc. have received China's national high-tech enterprise status
proves our commitment to the technological advancement of our
Company," stated Mr. George Pan,
Chairman and Chief Executive Officer of Highpower International.
"In addition, Icon and Ganzhou Highpower will benefit from a
reduced corporate income tax rate of 15% as China's National High-Tech Enterprises,
compared to 25% for companies without the national high-tech
status. We have always put R&D efforts as a top strategic
priority. We believe technological advancements will continue to
drive Highpower's long-term growth," concluded Mr. Pan.
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 buses, bikes, energy storage systems, power tools, medical
equipment, digital and electronic devices, personal care products,
and lighting. Highpower's target customers are Fortune 500
companies, and top 10 companies in each vertical segment. With
advanced manufacturing facilities located in Shenzhen, Huizhou, and Ganzhou 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 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, including, our ability to successfully expand sales of
our lithium battery product in the mobile device market and our
ability to effectively compete in that market. 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.
CONTACT:
Highpower International, Inc.
Sherry Chen
+86-755-8968-6521
ir@highpowertech.com
INVESTOR RELATIONS:
The Equity Group Inc.
In China
Katherine Yao, Associate
+86-10-6587-6435
kyao@equityny.com
In U.S.
Adam Prior, Senior Vice
President
(212) 836-9606
aprior@equityny.com
SOURCE Highpower International, Inc.