SAN FRANCISCO and SHENZHEN, China, Feb.
5, 2015 /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 has received an order providing
lithium polymer batteries for Mophie™'s battery case products
designed for iPhone 6 and iPhone 6 plus. Mophie, a California-based, award-winning designer and
manufacturer, is the #1 selling battery case manufacturer in North
America. The Company expects the multi-million dollar order
to have a meaningful impact on sales for the year ending
December 31, 2015.
Mr. George Pan, Chairman and CEO
of Highpower International, stated, "This order is quite
significant to both Highpower and Mophie's annual plan for 2015, as
Mophie is a certified backup power product supplier for iPhone 6
and iPhone 6 plus. Highpower has worked with the engineers and
designers at Mophie in the past on battery case products for the
iPhone 5 series, and it is their continued trust on Highpower's
quality and reliability that enables our cooperation to
succeed. We are very pleased to continue to work with Mophie
on the iPhone 6 series products that will be widely used by
consumers around the world."
Mophie's battery power products can be found at various retail
stores, AT&T, and also on Amazon.
Company Adjusts Net Income Guidance Up; Revenue Guidance
Lower Due to Order Timing
Mr. George Pan continued, "We
have been very pleased with the progression of our business over
the course of 2014, with a strong sales pipeline being supported by
improving margins. We continued to focus on our core competencies,
which are providing high-quality battery products to a diverse
customer base, while investing in our business to provide
sustainability over the long-term as the market continues to
transition to lithium battery technology. During the fourth
quarter, we continued to see improved margins, while penetrating
the market with higher-end battery products and properly utilizing
our scale to contain raw material costs. As a result, we are
raising our 2014 guidance range for adjusted net income of
$3.8 to $4.2 million from previously
announced $2.5 to $4.0 million, and
net income of $2.6 to $3.0 million
from previously announced $1.5 to $3.0
million. While we are pleased with our order pipeline,
a few orders (including Mophie) were delayed until the first
quarter of 2015, which has resulted in Highpower adjusting its
revenue guidance for 2014 to $146 - $148
million. We have been very pleased with the Company's
operational results in 2014, and have continued to balance our need
to position Highpower for long-term growth while also providing
stable returns for our shareholders. We are very confident in
our ability to generate sales growth through working with top notch
international customers in 2015 and look forward to updating
investors further when we report our 2014 financial results in
March."
About Mophie
Mophie, the #1 selling battery case manufacturer in North America, is a California-based, award-winning designer and
manufacturer that empowers the mobile world to do more. Widely
acclaimed for innovative mobile solutions, Mophie is the
proud developer of the juice pack®, the first ever mobile battery
case certified by Apple Inc. Mophie products
are recognized for style and engineered for performance,
providing a seamless integration of hardware, software and design.
Mophie has operations in California, Michigan, Netherlands, Hong
Kong, and China. Mophie
products are available in more than 130 countries, and can be
found at Apple, Best Buy, Verizon, and T-Mobile stores, as well as
Sprint and other leading retailers.
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
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SOURCE Highpower International, Inc.