LIAONING PROVINCE, China, Oct. 27 /PRNewswire-FirstCall/ -- China Sun Group High-Tech Co. (OTC Bulletin Board: CSGH), which through its wholly-owned subsidiary Dalian Xinyang High-Tech Development Co. Ltd. ("DLX") has the second largest cobalt series production capacity in the People's Republic of China ("PRC"), announced today that on September 27, 2009, DLX signed a Letter of Intent (LOI) with Beijing Zhongxinlian Shuangsheng Sci-Tech Co., Ltd. to jointly produce finished lithium ion (li-ion) batteries under the registered brand name "ShenKun." The 100An serial power ShenKun batteries are made with DLX's lithium iron phosphate product, an alternative, environmentally-friendly energy component.
Since DLX began production of its new li-ion product in May 2009, two of China's leading battery producers, Shandong Shengong KP-Power Co., Ltd. and Beijing Zhongxinlian Shuangsheng Sci-Tech Co., Ltd., have successfully completed testing of li-ion batteries using DLX components. The companies are now demonstrating a prototype battery to electric vehicle manufacturers to facilitate sales of finished li-ion products. In addition, China Sun Group has 21 customers undergoing technical testing of its new li-ion product.
Bin Wang, CEO of China Sun Group, said, "The goal of our strategic agreement with Beijing Zhongxinlian is to accelerate the commercialization of our green, li-ion battery product to the global electric vehicle manufacturing market. With the production of finished li-ion batteries, China Sun Group looks forward to expanding its business worldwide as a complete, end-to-end battery product manufacturer."
About China Sun Group
China Sun Group High-Tech Co., ("China Sun Group") produces anode materials used in lithium ion batteries. Through its wholly-owned operating subsidiary, Dalian Xinyang High-Tech Development Co. Ltd ("DLX"), the Company primarily produces cobaltosic oxide and lithium cobalt oxide. According to the China Battery Industry Association, DLX has the second largest cobalt series production capacity in the People's Republic of China. Through its research and development division, DLX owns a proprietary series of nanometer technologies that supply state-of-the-art components for advanced lithium ion batteries. Leveraging its state-of-the-art technology, high-quality product line and scalable production capacity, the Company plans to create a fully integrated supply chain from the primary manufacturing of cobalt ore to finished products, including lithium ion batteries. For more information, visit http://www.china-sun.cn.
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Contact: China Sun Group Thomas Yang Assistant to the President Tel: 917-432-9350 (U.S.) or 86 411 8288 9800/8289 2376 (China) Fax: 86 411 8289-2739
SOURCE China Sun Group High-Tech Co.