China Sun Group High-Tech Co. Delivers First Batch of New Energy Product to Customers for Testing
April 06 2009 - 4:05PM
PR Newswire (US)
LIAONING PROVINCE, China, April 6 /PRNewswire-FirstCall/ -- China
Sun Group High-Tech Co. (OTCBB: CSGH), ("China Sun Group"), which
through its wholly-owned subsidiary Dalian Xinyang High-Tech
Development Co. Ltd ("DLX") has the second largest cobalt series
production capacity in the People's Republic of China ("PRC"),
today announced that DLX has delivered the first batches of lithium
iron phosphate to two customers for testing. The first samplings of
DLX's lithium iron phosphate product have been sent to Shenzhen
Shanshu Power Battery Technology Co., Ltd. and Zhangzhou Youke
Energy Co., Ltd., both based in Shenzhen, to conduct tests on the
material's performance and battery life. Upon satisfactory testing,
which is expected to be completed on or before May 10, 2009, DLX
plans to begin filling new orders for lithium iron phosphate from
these two companies. China Sun Group CEO Bin Wang said, "We are
pleased to report that production on our first full-scale batch of
lithium iron phosphate was a success. Testing by our customers is
the next step toward commercializing this product in China. As a
new 'green' energy source material, lithium iron phosphate has the
potential to expand DLX's sales both domestically and abroad, where
governments are mandating the use of environmentally-friendly
parts, processes and supplies in manufacturing. Once these tests
are complete, we look forward to fulfilling orders and establishing
a new revenue base for lithium iron phosphate." About China Sun
Group China Sun Group High-Tech Co., ("China Sun Group") produces
anode materials used in lithium ion batteries. Through its
wholly-owned operating subsidiary, Dalian Xinyang High-Tech
Development Co. Ltd ("DLX"), the Company primarily produces
cobaltosic oxide and lithium cobalt oxide. According to the China
Battery Industry Association, DLX has the second largest cobalt
series production capacity in the People's Republic of China.
Through its research and development division, DLX owns a
proprietary series of nanometer technologies that supply
state-of-the-art components for advanced lithium ion batteries.
Leveraging its state-of-the-art technology, high-quality product
line and scalable production capacity, the Company plans to create
a fully integrated supply chain from the primary manufacturing of
cobalt ore to finished products, including lithium ion batteries.
For more information, visit http://www.china-sun.cn/. Safe Harbor
Statement The statements contained herein that are not historical
facts are considered "forward-looking statements." Such
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things, the use of forward-looking terminology such as "believes,"
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sentiment; and our reputation. We do not undertake any
responsibility to publicly release any revisions to these
forward-looking statements to take into account events or
circumstances that occur after the date of this report.
Additionally, we do not undertake any responsibility to update you
on the occurrence of any unanticipated events, which may cause
actual results to differ from those expressed or implied by any
forward-looking statements. The factors discussed herein are
expressed from time to time in our filings with the Securities and
Exchange Commission available at http://www.sec.gov/. Contact:
China Sun Group Thomas Yang Assistant to the President Tel:
917-432-9350 (U.S.) or 86 411 8288 9800 (China) Fax: 86 411
8289-2739 e-mail: DATASOURCE: China Sun Group High-Tech Co.
CONTACT: China Sun Group, Thomas Yang, Assistant to the President,
+1-917-432-9350 (U.S.) or +86-411-8288-9800 (China), Fax: +86 411
8289-2739, Web Site: http://www.china-sun.cn/
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