SAN
DIEGO and SHENZHEN,
China, July 14, 2017
/PRNewswire/ -- Highpower International, Inc. (NASDAQ: HPJ)
("Highpower" or the "Company"), a developer, manufacturer, and
marketer of lithium ion and nickel-metal hydride (Ni-MH)
rechargeable batteries, battery management systems, and a provider
of battery recycling, today announced that it has reached strategic
partnership agreements with industry-leading appliance brands from
Europe and the U.S. to develop and
supply power solutions for high-end smart vacuum robots.
Mr. George Pan, Chairman and CEO
of Highpower International, commented, "Under the swift development
of smart home, people are relying more and more on smart appliances
such as vacuum robots with greater power and endurance as well as
compact and sleek design. With our deep knowledge of power solution
design and strong base of household-name customers during the past 16 years, we are well
positioned to serve customers in the smart vacuum industry.
Highpower pays close attention to the end user as well as
developing trends and work jointly with our industry-leading
clients to provide quality products and services. These two
partnerships will further strengthen our market share in smart home
application and Highpower will continue to supply convenience and
style to our consumers."
The two agreements are expected to provide Highpower with
top-line revenues of $4 million in
2017 and $15 million in 2018, with
which Highpower has been involved in designing power solutions for
three new models of smart vacuums, which are expected to be
launched in 2018.
About Market information
According to Euromonitor International, the world leader in
strategy research for consumer markets, the whole smart vacuum
market reached $1.7 billion in 2015
and is expected to reach $2.4 billion
in 2020. GFK SE, Germany's largest
market research institute and the fourth largest market research
organization in the world, estimates that by 2020, the global smart
furniture market will surpass $58
billion with demand driven by Europe, the U.S., and Asia.
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, etc. Highpower's target customers are Fortune 500
companies and top 20 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.
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, without limitation, fluctuations in the cost
of raw materials; our dependence on, or inability to attract
additional, major customers for a significant portion of our net
sales; our ability to increase manufacturing capabilities to
satisfy orders from new customers; our ability to maintain
increased margins; our dependence on the growth in demand for smart
wearable devices and energy storage systems, and other digital
products and the success of manufacturers of the end applications
that use our battery products; our responsiveness to competitive
market conditions; our ability to successfully manufacture our
products in the time frame and amounts expected; the market
acceptance of our battery solutions, including our lithium ion
batteries; and our ability to continue R&D development to keep
up with technological changes. 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.
Sunny Pan
Chief Financial Officer
Tel: +86-755-8968-6521
Email: ir@highpowertech.com
Yuanmei Ma
Investor Relations Manager
Tel: +1-909-214-2482
Email: ir@highpowertech.com
ICR, Inc.
Rose Zu
Tel: +1-646-931-0303
Email: ir@highpowertech.com
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SOURCE Highpower International, Inc.