SAN FRANCISCO and SHENZHEN, China, Dec. 17, 2014 /PRNewswire/ -- Highpower International, Inc. (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 Huizhou Highpower Technology Ltd., Highpower International's wholly-owned subsidiary, officially qualified for addition to Samsung's supply chain as a supplier of lithium-based battery products.
The Samsung team commented, "Highpower International is one of the world's leading lithium battery manufacturers with distinct advantages in technology, cost and quality control. After a comprehensive evaluation covering a wide spectrum of manufacturing capabilities and compliances, we believe Highpower International's Huizhou subsidiary is capable of producing high quality products for Samsung. Highpower is a fast developing international company and we welcome them to be part of our supply chain."
Mr. George Pan, Chairman and Chief Executive Officer of Highpower International, stated, "We have continued to expand our capabilities at Highpower's Huizhou facility, with new and advanced production lines for lithium battery products. In addition, we have remained at the forefront of improving our manufacturing processes customized for large scale customers. We are pleased to have passed Samsung's requirements as a product manufacturer and supplier, which we feel is a strong verification of both our flexibility and capability to cover a wider spectrum of products at a global reach. With sufficient capacity potential and state-of-the-art equipment and technologies, we are very confident our new Huizhou facility has the capability to produce superior products for world-class customers in the years to come."
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 smart phone, tablet computer, personal computer, electric buses, bikes, energy storage systems, power tools, medical equipment, 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.
Highpower International, Inc.
The Equity Group Inc.
Katherine Yao, Associate
Adam Prior, Senior Vice President
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SOURCE Highpower International, Inc.