Hong Kong Highpower Technology, Inc. (NASDAQ: HPJ), a leading developer, manufacturer and marketer of nickel-metal hydride (Ni-MH) and lithium-ion (Li-ion) rechargeable batteries and related products, announced today that it recently concluded a successful supplier conference, which saw more than 150 suppliers in attendance.
"Maintaining outstanding supplier relationships has been a key part of our success in 2009," said George Pan, Chief Executive Officer of Hong Kong Highpower Technology, Inc. "The conference was instrumental for enhancing information exchange, resource sharing and the timely response to any possible risks within the supply chain. In addition, the conference laid the foundation for HPJ's future penetration of additional market opportunities including green power for electric vehicles, large-scale energy storage devices, and integrated power systems."
As previously announced in the Fall, Hong Kong Highpower Technology continues to rank as the second largest net exporter of Ni-MH batteries in China. It was also noted that the Company's Lithium-ion battery, which will be a key driver in the Company's growth into the green power arena, received favorable comments from its customers in every industry and also received the designation of "Recommended Power Products" from the China Bluetooth Industry Association and Shenzhen Computer Industry Association.
Hong Kong Highpower is also pleased to announce it is cooperating with various academic groups and associations on products including the China Industrial Association of Power Sources, China Council for The Production of International Trade, and the Guangdong GPS Industry Association.
Lastly, Hong Kong Highpower was able to execute development and strategic purchasing agreements with a number of partners as a result of this Conference, which should be a driver of the Company's success in the New Year.
About Hong Kong Highpower Technology, Inc.
Hong Kong Highpower Technology develops, manufactures and markets rechargeable nickel metal hydride (Ni-MH) and lithium-ion (Li-ion) batteries and related products for use in a variety of electronic devices. The majority of Hong Kong Highpower Technology's products are distributed worldwide to markets in the United States, Europe, China, Hong Kong, Southeast Asia and Taiwan. For more information, visit www.haopengbattery.com.
This press release contains "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995 that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and the Company's future performance, operations and products. Such statements involve known and unknown risks, uncertainties and other factors that could cause the Company's actual results to differ materially from the results expressed or implied by such statements. For a discussion of these and other risks and uncertainties see "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's public filings with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.
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