EPOW Preannounces 2022 Sales Increase of 410% to $37.8 Million
January 26 2023 - 9:30AM
Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”,
“we” or “our”) (NASDAQ: EPOW), today announced unaudited
preliminary sales numbers for its year ending December 31, 2022, of
$37.8 million (RMB261 million), a 410% increase over 2021 sales of
$7.4 million.
Preliminary sales numbers unaudited for the second half of 2022
were $27.5 million, an increase of 1,299% over the second half of
2021 sales of $2.0 million. The rapid growth in sales was driven
by:
- Strong graphite anode market fundamentals driven by rapid
growth in sales of EVs with each new EV requiring 60 kilograms of
graphite anode
- Increasing orders from existing customers
- New customer wins, including CATL, Narada, and Pylon Tech
- Increased production capacity at Sunrise New Energy’s
manufacturing plant in Guizhou Province, reaching a rate of 20,000
metric tons of annual production of graphite anode in late
2022
“I am so proud of the entire team for this incredible
accomplishment,” said Sunrise New Energy’s Chairman, Mr. Haiping
Hu. “2023 promises to be an exciting year with continued rapid
growth given our recently announced 2-year purchase order worth
approximately $464 million which we will begin fulfilling in the
coming months. We are also in the final stages of negotiation with
a new customer for a large purchase order which we anticipate we
will close by the time we announce our full financial results.”
About Sunrise New Energy Co., Ltd
Headquartered in Zibo, Shandong Province, China, Sunrise New
Energy Co., Ltd., through its joint venture, is engaged in the
manufacturing and sale of graphite anode material for lithium-ion
batteries. The Company’s joint venture is constructing a 138,000 ㎡
manufacturing plant in Guizhou Province, China. The plant runs on
inexpensive electricity from renewable sources, which helps to make
Sunrise New Energy a low-cost and low–environmental-impact producer
of graphite anode material. Mr. Haiping Hu, the founder and CEO of
the Company, is a major pioneer for the graphite anode industry in
China starting from 1999. The Company’s management team is also
composed of experts with a cumulative decades of experiences and
strong track-records of success in the graphite anode industry. In
addition, the Company also operates a knowledge sharing platform
business. For further information, please visit the Company’s
website at www.sunrisenewenergy.com. The Company also maintains a
Twitter account (@sunrisenewener1) to keep investors up to date on
the latest development of the Company.
Forward-looking statement
Certain statements in this press release regarding the Company's
future expectations, plans and prospects constitute forward-looking
statements as defined by Private Securities Litigation Reform Act
of 1995. Forward-looking statements include statements about plans,
goals, objectives, strategies, future events, expected results,
assumptions and any other factual statements that have not
occurred. Any words that refer to "may", "will", "want", "should",
"believe", "expect", "expect", "estimate", "estimate" or similar
non-factual words, shall be regarded as forward-looking statements.
Due to various factors, the actual results may differ materially
from the historical results or the contents expressed in
these forward-looking statements. These factors include, but are
not limited to, the company's strategic objectives, the company's
future plans, market demand and user acceptance of the company's
products or services, technological updates, economic trends, the
company's reputation and brand, the impact of industry competition
and bidding, relevant policies and regulations, the ups and downs
of China's macroeconomic conditions, the international market
conditions served by the company, and other related risks and
assumptions disclosed in the prospectus. In view of the above and
other related reasons, we advise investors not to blindly rely on
these forward-looking statements, and we urge investors to visit
the SEC’s website to consult the company's relevant documents for
other factors that may affect the company's future operating
results. The company is under no obligation to make public
amendments to changes in these forward-looking statements due to
specific events or reasons unless required by law.
For more information, please contact:
The Company: IR Department Email: IR@sunrisenewenergy.com Phone:
+86 4009919228
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