SHENZHEN, China, July 13, 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 the Company's senior
management team has purchased approximately $300,000 of stock of the Company to date with
personal funds.
On April 1, 2011, the Company's
senior management team (including its Chairman, CEO and CFO)
announced their intentions to purchase approximately $1 million of the Company's common stock in the
open market. Through July 13, 2011, Mr. Yu has purchased
approximately $200,000 of stock at an
average price of $3.45 per share.
Junfeng Chen, our CFO, has purchased
approximately $100,000 of stock at an
average price of $3.39 per share.
Currently, the purchase of additional shares of stock of the
Company by Mr. Yu and other members of the senior management team
is subject to the Company's black-out period while the Company
prepares its second quarter 2011 financial filings. The Company's
black-out period will terminate at the end of the first full
trading day after the Company reports its second quarter results in
mid-August.
"I remain extremely confident in our future growth prospects,"
said New Energy Chairman Weihe Yu.
"That is why I am using my personal funds, along with other
executives on the management team, to purchase our stock at
compelling prices. Over time, I believe more investors will realize
the significant investment opportunity in our stock. In the
meantime, our management team remains focused on executing our
growth strategy."
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 NF Energy Saving Corporation