NEW YORK and SHENZHEN, China, June
18 /PRNewswire-Asia-FirstCall/ -- New Energy Systems Group
(OTC Bulletin Board: NEWN) ("New Energy"), a vertically integrated
original design manufacturer and distributor of lithium ion
batteries and backup power systems, today announced its Board of
Directors has established audit, compensation and nominating
committees.
Mr. Nian Chen, Chief Executive
Officer, commented, "We are pleased to have established our audit,
compensation and nominating committees, which reflects our
commitment to meeting the highest standards of corporate
governance. In addition to serving critical internal management and
corporate governance functions, this development also satisfies
another important prerequisite for listing our stock on a senior
U.S. stock exchange."
Copies of the charter documents for the audit, compensation and
nominating committees are available for review on the New Energy
corporate website located at www.newenergysystemsgroup.com .
About New Energy Systems Group
New Energy Systems Group is a vertically integrated original
design manufacturer and distributor of lithium ion batteries and
backup power systems for mobile phones, laptops, digital cameras,
MP3s and a variety of other portable electronics. The company's
end-user consumer products are sold under the Anytone brand in
China, and the company has begun
expanding its international sales efforts. The fast pace of new
mobile device introductions in China combined with a growing middle class
make it fertile ground for New Energy's end-user consumer products
as well as its high-powered, lightweight lithium ion batteries. In
addition to historically strong organic growth, New Energy
anticipates that it will benefit from economies of scale, broader
distribution, greater production capacity and higher profit margins
in 2010. Additional information about the company is available at:
http://www.newenergysystemsgroup.com .
Forward Looking Statements
This release contains certain "forward-looking statements"
relating to the business of the Company and its subsidiary and
affiliated companies. These forward looking statements are often
identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions. Such forward looking
statements involve known and unknown risks and uncertainties that
may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
Investors should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on its website (www.sec.gov). All
forward-looking statements attributable to the Company or to
persons acting on its behalf are expressly qualified in their
entirety by these factors other than as required under the
securities laws. The Company does not assume a duty to update these
forward-looking statements.
For more information, please contact:
Crescendo Communications, LLC
David Waldman or John Quirk
Tel: +1-212-671-1020
Email: newn@crescendo-ir.com
SOURCE New Energy Systems Group