EPOW Announces Revenue Growth of 1,718% for First 3 Months of 2023, Chairman Purchases Stock
April 14 2023 - 9:45AM
Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or
“our”) (NASDAQ: EPOW), today announced that the revenues for the
first 3 months of 2023, ending March 31st, reached $8 million
compared to $440,000 in the first 3 months of 2022, an increase of
1,718%. During the first 3 months of 2023 the company produced and
shipped over 1,350 metric tons of graphite anode.
The Company also announced that its Chairman, Mr. Haiping Hu has
recently acquired 20,000 shares of EPOW stock at an average of
$2.78.
“The team at Sunrise has executed quickly emerged as a leading
manufacturer of graphite anode,” said Sunrise New Energy’s Chairman
Mr. Haiping Hu. “Yet despite all the positive accomplishments,
including the results announced today and the closing of purchase
orders worth $700 million, the stock has languished. I am acquiring
shares because I feel that the stock is dramatically undervalued
and that the future is very bright for the company. I plan to
acquire more shares in the future as well.”
Sunrise currently reports financial results semi-annually and as
such looks forward to a more detailed financial update for
investors when it reports its first-half 2023 results for the
period ending on June 30, 2023.
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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