SAN DIEGO, Calif. and
SHENZHEN, China, Oct. 18, 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 independent director Xinhai
Li has stepped down to focus on his roles as professor of
new energy materials and devices at the Central South University's School of Metallurgy and
Environment, Chairman of Jiangxi H-zone Lithium Technology Co. Ltd.
and Chairman of Jiangxi Xuli Mining Co. Ltd. Mr. Jie Wang will replace Mr. Li.
Mr. Jie Wang, Ph.D., is based out
of Stanford University in California, where he currently serves as the
university's executive director of the Stanford Center for
Sustainable Development and Global Competitiveness, director of the
Sustainable Development and Environmental Informatics Group, and
consulting professor for the Department of Civil and Environmental
Engineering. He previously served as Stanford
University's executive director of the Stanford-China
Executive Leadership Program. His former industry roles include
senior system architect for Collation, Inc., which was acquired by
IBM, and senior architect for Loudcloud, Inc., which was acquired
by Hewlett-Packard. Mr. Wang has received a B.S. in Naval
Architecture and Ocean Engineering from Shanghai Jiao Tong
University in Shanghai, China; a
M.S. in Meteorology and Physical Oceanography from the University of Miami in Florida; a M.S. in Civil and Environmental
Engineering from Stanford University in
California; and a Ph.D. in Civil
and Environmental Engineering from Stanford
University in California.
Mr. George Pan, Chairman and CEO
of Highpower International, commented, "On behalf of the Board of
Directors, we would like to thank Mr. Xinhai Li for his years of service to Highpower
and wish him the best in his future endeavors. We also welcome Mr.
Jie Wang to his new role as
independent director. Mr. Wang's research in the development of
intelligent infrastructure, smart manufacturing, and strategy and
implementation of smart cities will provide Highpower with valuable
insight as we expand to take advantage of opportunities to apply
our niche expertise within the IoT industry. We look forward to
receiving his guidance as we continue to grow and optimize value
for our shareholders."
Mr. Xinhai Li commented, "Since I joined Highpower as an
independent director in 2008, I have witnessed the rapid growth of
the company's sales and profit under the management team's capable
leadership, which shows great promise for the future of the
company. I have faith in Highpower's ability to continue its fast
and sustainable growth and look forward to following its milestones
in the future."
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
including wearables, energy storage systems, consumer electronics,
medical equipment, lighting and electric buses. 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.