DALIAN, China, Nov. 4, 2010 /PRNewswire-Asia-FirstCall/ -- China
Sun Group High-Tech Co. (OTC Bulletin Board: CSGH) ("China Sun
Group" or the "Company"), a vertically integrated supplier of raw
materials for rechargeable Lithium–ion (Li-ion) batteries in.
China, today announced that its Chief Executive Officer Mr.
Guosheng Fu was interviewed by
Dalian TV for its program "Great Potential in the New Materials
Sector."
Dalian TV recently visited China
Sun's manufacturing plant to report on China Sun's contributions to Dalian's economic growth. Below is an excerpt
of the interview:
Journalist: This is the workshop of Dalian
Xinyang High-Tech Development Co., Ltd (the Company) and the two
product samples in my hand are the battery anode
materials that they have produced. The two samples might look
the same, but the one on the left is called cobaltosic oxide which
applies to the manufacture of computers and cell phones. The other
one is called lithium iron phosphate (LIP) which
applies to the manufacture of new energy vehicle batteries.
Therefore, their target markets are totally different.
Mr. Fu: Cobaltosic oxide is the first
generation of battery anode materials and its market
demand has reached its full potential. However, lithium iron
phosphate is currently the most advanced third generation high
performance lithium battery anode material. The
profit margins for lithium iron phosphate are three times that of
the past generation of products; whereas, and its
production costs are roughly one third that of the prior
generation. The Company currently has 3 production lines for the
new products and its total output value for next year is expected
to be more than RMB100 million.
Furthermore, with the great support from governments at different
levels, the Company has grown very fast in recent years with annual
R&D expense at more than RMB1
million.
Mr. Fu: Without the past investment in R&D
activities, the Company would not be where it is today. If we do
not continue to execute our strategy of continuous
improvement or manufacture new products or adapt to the
ever-changing industry currents, it will be very hard for our
company to survive in the industry.
"We are extremely honored to have the Dalian TV report our
story," commented Mr. Guosheng Fu
about the coverage. "China Sun's
management will continue to build on its strong business
foundation, to expand its Lithium Iron Phosphate production
capacity to 700 tons from current 500 tons with a goal to sell 600
tons in fiscal year 2011. China Sun expects to benefit from
favorable government policies to continue to grow its revenue and
profits. Looking to the future, we expect to be able to list
our shares on a senior exchange without the need for a reverse
stock split."
About China Sun Group High-Tech Co.
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 has recently
diversified into the manufacture of LIP and plans to forward
integrate to manufacture of power Li-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 Company's
ability to become a leading anode material supplier for Li-ion
batteries used in the new energy automobile industry 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.
Company Contact:
|
|
Mr. Guosheng Fu, Vice President
|
|
China Sun Group High-Tech Co.
|
|
Tel: 86 411 8288 9800/8289 2736 (China)
|
|
Email: ir@china-sun.cn
|
|
Website: www.china-sun.cn
|
|
|
|
Investor Relations Contact:
|
|
Mr. Mark Collinson, Partner
|
|
CCG Investor Relations
|
|
Tel: 310-954-1343
|
|
Email: mark.collinson@ccgir.com
|
|
Website: www.ccgirasia.com
|
|
|
SOURCE China Sun Group High-Tech Co., Ltd.