DALIAN, China, Nov. 17, 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 it has
awarded CEO – Mr. Guosheng Fu and
CFO – Ms. Mingfen Liu common
stock.
Mr. Fu was granted up to an aggregate amount of 450,000 shares
of common stock and Ms. Liu was granted up to 300,000 shares of
common stock subject to the terms of their employment agreements.
Provided that they are employed by the Company at the time,
Mr. Fu and Ms. Liu will receive the shares in three equal
installments on each of December 31,
2010, 2011, and 2012.
Mr. Guosheng Fu was appointed
China's Sun's CEO on Sep. 13, 2010, and he has been with the Company
since 2002 when the Company started its business. His contributions
include leading the Company in its development of Lithium Iron
Phosphate which is expected to be one of the main drivers for the
Company's future growth.
Ms. Mingfen Liu joined the
Company in 2002. She has been responsible for China Sun
Group's financial operations and has made significant contributions
to the Company, both prior to and since it has become a U.S. public
company.
The Board's Compensation Committee composed of independent
directors voted unanimously to approve these awards.
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:
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Mr. Guosheng Fu,
CEO
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China Sun Group High-Tech
Co.
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Tel: 86 411 8288
9800 (China)
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Email: ir@china-sun.cn
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Website: www.china-sun.cn
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Investor Relations Contact:
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Mr. Mark Collinson,
Partner
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CCG Investor
Relations
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Tel: 310-954-1343
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Email: mark.collinson@ccgir.com
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Website: www.ccgirasia.com
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SOURCE China Sun Group High-Tech Co.