China Sun Group High-Tech Co. Makes Significant Progress on New 'Green' Battery Product Line
May 18 2009 - 2:55PM
PR Newswire (US)
LIAONING PROVINCE, China, May 18 /PRNewswire-FirstCall/ -- China
Sun Group High-Tech Co. (OTC Bulletin Board: CSGH - News; "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 provided an update on the progress of its
latest innovation, lithium iron phosphate. A next generation
'green' power source, lithium iron phosphate was developed by DLX
for use in batteries that power eco-friendly vehicles, like
electric cars, hybrids and scooters. The first batch of lithium
iron phosphate energy products came out of DLX's production line in
April 2009. The product successfully completed testing by two
leading enterprises in the domestic power battery production
industry, Shenzhen Shanshu Power Battery Technology Co., Ltd. and
Zhangzhou Youke Energy Co., Ltd. These companies are now performing
natural decay testing to determine the charge quality of batteries
made with DLX' lithium iron phosphate product. China Sun Group CEO
Bin Wang, said, "In little over a month, DLX has signed sample
testing agreements with eight enterprises in Shandong Zaozhuang,
Hai Ba, Beijing Zhongke, Sha'anxi and in other major Chinese
provinces. These enterprises represent our core market for using
our new eco-friendly lithium iron phosphate material. Following
testing, we plan to begin mass marketing our product domestically."
Wang continued, "We are also encouraged by the news that the City
Council of Dalian has determined that Dalian City, where DLX is
headquartered, will act as a pilot city for the production of new
energy power cars. The City Council determined on May 3, 2009 that
the manufacture of 'green' automobiles will be driving factor in
helping to revitalize the Dalian's economy. DLX expects to become a
supplier of lithium iron phosphate for the pilot upon successful
completion of natural decay testing. DLX believes this pilot
program will help speed up the adoption of lithium iron phosphate
and lead to new purchase orders for our product." 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/. The
statements contained herein that are not historical facts are
considered "forward-looking statements." Such forward-looking
statements may be identified by, among other things, the use of
forward-looking terminology such as "believes," "expects," "may,"
"will," "should," or "anticipates" or the negative thereof or other
variations thereon or comparable terminology, or by discussions of
strategy that involve risks and uncertainties. In particular,
statements regarding the potential growth of the markets are
examples of such forward-looking statements. The forward-looking
statements include risks and uncertainties, including, but not
limited to, the effect of political, economic, and market
conditions and geopolitical events; legislative and regulatory
changes that affect our business; the availability of funds and
working capital; the actions and initiatives of current and
potential competitors; investor 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 9800/8289 2376 (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 +86-411-8288-9800/8289-2376 (China), or
Fax: +86-411-8289-2739, Web Site: http://www.china-sun.cn/
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