DALIAN, China, April 8 /PRNewswire-Asia-FirstCall/ -- China Sun
Group High-Tech Co., Ltd. (OTC Bulletin Board: CSGH) ("China Sun
Group" or the "Company"), a vertically integrated supplier of
cobalt-based raw materials for rechargeable Lithium-ion (Li)
batteries in China announced today
that it has retained CCG Investor Relations to design and execute
its investor relations campaign.
"We look forward to working closely with CCG to establish and
enhance our profile in the US investment community and improve our
communication with investors, media outlets and our shareholders,"
said Bin Wang, Chairman and CEO of China Sun Group. "Given CCG's
track record of professional experience representing a wide
spectrum of high growth, US-listed Chinese companies, we are
confident that our new partnership will help us build long term
shareholder value."
China Sun Group, through its 100% owned operating subsidiary,
Dalian Xinyang High-Tech Development Co., Ltd. ("DXL"), is engaged
in the production and sales of raw materials (cobalt carbonate and
cobaltosic oxide), and anode materials (lithium cobalt oxide), for
Li batteries. The Company is the second largest non-government
manufacturer of hi-tech cobalt products in Asia based on tons produced. DXL is also
conducting trials for new ternary anode materials (lithium iron
phosphate) to develop alternatives to the sole use of cobalt in Li
batteries. In addition, the Company has recently initiated
construction of an R&D facility, equipped with cutting-edge
inspection and testing instruments for the purpose of quality
control maintenance and quality assurance.
China Sun Group has a vertically integrated production platform,
from mining and procurement to the assembly and distribution of
anode materials for Li batteries. The Company expects to benefit
from a stable supply of low cost raw materials from domestic
sources.
China Sun Group is well positioned for continued growth since
according to the Battery Industry Association of China, the Li battery industry in China is expected to grow at a 40% CAGR (based
in units) driven by growing demand for portable products like
mobile phones, laptops, and most importantly the new and fast
growing energy automation industry.
For the year ended May 31, 2009
sales increased 46% year-over-year to $37
million, and net income rose 25% year-over-year to
$8.6 million or $0.16 per diluted share, driven by new sources of
sales channels and increased sales to customers due to strong
demand for materials used in Li batteries. China Sun Group's
balance sheet is strong with $11.7
million in cash and equivalents and no debt as of
November 30, 2009. The Company
generated $4.8 million of operating
cash flow in the first half of fiscal 2010.
"With a solid management team focused on execution of its
business plan, we look forward in supporting China Sun Group as it
embarks on the next stage of growth, including capacity expansion,
key acquisitions, penetration in international markets and
technological improvements," commented Crocker Coulson, president
of CCG Investor Relations. "The Company is well positioned within
the fast growing Li battery market."
About CCG Investor Relations
CCG is a leading global investor relations and strategic
communications consulting firm. In business for more than 30 years,
the agency provides a complete range of investor communications,
counseling, and IT and data solutions through our global network to
over 300 clients across multiple capital markets. CCG has been
awarded a number of industry honors for its handling of complex
investor relations and crisis communications matters. The agency's
corporate headquarters is in Los
Angeles with additional offices in New York, Beijing, Shanghai, Hongkong, Frankfurt, Sao
Paulo and Tel Aviv. For
further information, contact CCG directly, or visit the Company's
web sites at http://www.ccgir.com and http://www.ccgirasia.com
.
About China Sun Group High-Tech Co., Ltd.
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 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 .
For further information, please contact:
Company Contact:
China Sun Group High-Tech Co., Ltd
Mr. Guoqiang Fu, Vice President
Tel: +86-411-82889800
Email: fgsh_2009@163.com
Web: http://www.china-sun.cn
Investor Relations Contact:
CCG Investor Relations
Mr. Pierre Maccagno, Account Manager
Email: pierre.maccagno@ccgir.com
Tel: +1-646-833-3422
Mr. Crocker Coulson, President
Email: crocker.coulson@ccgir.com
Tel: +1-646-213-1915
Web: http://www.ccgirasia.com
SOURCE China Sun Group High-Tech Co., Ltd.