SHENZHEN, China, June 30, 2011 /PRNewswire-Asia-FirstCall/ -- New
Energy Systems Group (NYSE Amex: NEWN) ("New Energy" or the
"Company"), a vertically-integrated original design manufacturer
and distributor of lithium ion batteries and consumer branded
backup power systems, today announced that it has been added to the
Russell Microcap Index effective June 24,
2011.
Russell Investments, a leading financial services provider
serving individual and institutional investors, rebalances its
entire family of indexes every year to maintain true representation
of global equity markets, capitalization and style. Companies are
added and deleted from the various indices according to these
changes. The Russell Microcap Index Fund had approximately
$497 million of assets as of
June 28, 2011.
New Energy Chairman Weihe Yu
stated, "We are proud to be a part of an index that includes
premier companies such as Orbitz Worldwide and Rosetta Stone. It signifies the progress New
Energy has made in a short period of time. As we continue to
execute our growth strategies in the years ahead, we will strive to
deliver significant shareholder value."
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 leading manufacturers of 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
while it's commercial and OEM batteries and battery components are
sold under New Power and E'Jenie. 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,
light weight lithium ion batteries. In addition to historically
strong organic growth, New Energy is expected to benefit from
economies of scale, broader distribution and higher profit margins
in 2011. Additional information about the company is available at:
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:
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COMPANY
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New Energy Systems
Group
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Ken Lin, VP of Investor
Relations
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Tel: +1-917-573-0302
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Email: ken@newenergysystemsgroup.com
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Web: www.newenergysystemsgroup.com
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INVESTOR RELATIONS
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HC International,
Inc.
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John Mattio, SVP
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Tel: US
+1-212-301-7130
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Email: john.mattio@hcinternational.net
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Web: www.hcinternational.net
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SOURCE New Energy Systems Group