Capital Resource Funding Announces Plans to Change Name to China Sun Group High-Tech Co.
May 24 2007 - 3:28PM
PR Newswire (US)
LIAONING PROVINCE, China, May 24 /PRNewswire-FirstCall/ -- Capital
Resource Funding Corp. (OTC:CRFU) (BULLETIN BOARD: CRFU) , one of
China's largest producers of anode materials for use in lithium ion
batteries, announced today it is undergoing the appropriate
procedures to change the Corporation's name to China Sun Group
High-Tech Co. with a new trading symbol of CHSC. Both the name
change and ticker symbol are subject to final approval by the SEC,
which the Company expects to receive within 30 days. "Our name
change will better reflect our corporate identity, and the
significant market opportunities taking place in the high-tech
manufacturing sector in China," said Wang Bin, Chairman and CEO of
Capital Resource Funding. "The lithium ion battery industry in
China is expected to continue to grow at the annual rate of over
30%. As a 'green' energy source, lithium ion batteries are
environmentally safe, and offer versatility and superior energy
retention to power a variety of applications, including the
smallest mobile devices. We believe our name change will impart
increased brand recognition among China OEMs, our customers, and
our shareholders as we expand our production lines for lithium ion
batteries and their components." About Capital Resource Funding,
Inc. Capital Resource Funding, Inc., pending a corporate name
change to China Sun Group High-Tech Co., produces anode materials
used in lithium ion batteries. Lithium ion batteries continue to
gain in popularity due to their versatility, high energy density
and capacity, high voltage, compact size, lightweight, and
excellent energy retention characteristics. They are used in mobile
phones, PDAs, laptops, and digital cameras, as well as electric
automobiles and solar and wind energy storage units. Capital
Resources conducts its operations through its wholly owned
subsidiary based in China, Da Lian Xin Yang High-Tech Development
Co. Ltd. ("DLX"). DLX primarily produces cobaltosic oxide and
lithium cobalt oxide and also engages in the research and
development of new technologies to be used in the lithium ion
battery market. According to the China Battery Industry
Association, DLX has the second largest cobalt series production
capacity in China. For more information, visit
http://www.china-sun.cn/English/Aboutus.asp. Safe Harbor Statement
Statements in this press release which are not historical data are
forward-looking statements which involve known and unknown risks,
uncertainties or other factors not under the company's control,
which may cause actual results, performance or achievements of the
company to be materially different from the results, performance or
other expectations implied by these forward-looking statements.
These factors include, but are not limited to, those detailed in
the company's periodic filings with the Securities and Exchange
Commission. DATASOURCE: Capital Resource Funding, Inc. CONTACT:
Thomas Yang, Assistant to the President for Capital Resource
Funding, Inc, U.S., +1-917-432-9350, China, +86 411 8289-7752, fax,
86 411 8289-2739, ; or Investors, Peter Clark of OTC Financial
Network, +1-781-444-6100 ext. 629, Web site:
http://www.china-sun.cn/
http://www.china-sun.cn/English/Aboutus.asp
http://www.otcfn.com/crfu
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