China Sun Group High-Tech Co. Receives Two Distinguished Awards from the Chinese Municipal Government for DLX's Li-On Battery Ma
August 25 2009 - 11:28AM
PR Newswire (US)
China Sun Group High-Tech Co. (OTC:CSGH) (BULLETIN BOARD: CSGH) ,
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"),
announced today the receipt of two distinguished awards for DLX's
lithium iron phosphate (Li-Ion) battery material. DLX's new product
was awarded the "Scientific and Technological Achievement in 2009"
by the Scientific and Technological Committee of Dalian Municipal
Government, and the "New Energy and New Product" by the Economic
Committee of Dalian Municipal Government. DLX's Li-Ion product is a
next-generation anode material used in the production of
eco-friendly batteries that power electric/hybrid vehicles. China
Sun Group also noted that it was recently recognized as a standout
player in China's Li-Ion space. In an August 13, 2009 article on
TheStreet.Com, author Rick Pearson, stated, "My new pick for
playing the profitable Li-ion space is China Sun Group. CSGH is
poised to benefit strongly from increased investment in the end-use
battery manufacturing space because it is a supplier of
cobalt-based and lithium iron phosphate products to the end-use
battery makers," said Pearson. "China Sun's position as a supplier
to battery makers, as opposed to being a battery maker itself, is a
favorable investment consideration, yet it continues to trade at a
significant discount (to its competitors)." "These awards validate
that DLX's lithium iron phosphate is a state-of-the-art product
that meets the highest standards of our local government," said Bin
Wang, CEO of China Sun Group. "Each accolade we receive for our
Li-Ion product is a step in the right direction toward making our
latest green battery components a reality." 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: Thomas Yang, Assistant to the President, China Sun Group,
U.S., +1-917-432-9350, or China, 86-411-8288-9800/8289-2376, or
fax, 86-411-8289-2739, Web Site: http://www.china-sun.cn/
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