NEW YORK and SHENZHEN, China, Aug.
13 /PRNewswire-Asia-FirstCall/ -- New Energy Systems Group
(OTC Bulletin Board: NEWN) ("New Energy"), a vertically integrated
original design manufacturer and distributor of lithium-ion
batteries and backup power systems, today announced that it has
been approved to list its common stock on NYSE AMEX. Trading of New
Energy's shares on the exchange is expected to commence on
August 16, 2010 under its current
ticker symbol, "NEWN."
Mr. Weihe Yu, Chairman, stated,
"We are honored to list our shares on NYSE AMEX, one of the world's
preeminent stock exchanges. We view this upgrade as a significant
milestone in our company's development and reinforce our commitment
to the highest corporate governance standards. We anticipate that
New Energy will benefit from greater visibility within the
investment community, and a broader universe of potential
investors."
Mr. Nian Chen, Chief Executive
Officer, commented, "We have worked hard to build our business and
establish the credentials needed to qualify for listing. The
results of our efforts are illustrated by the company's strong
revenue and EPS growth. We are excited about the opportunities that
lie ahead for New Energy as we continue to grow the business and
generate meaningful value for our shareholders. We look forward to
keeping investors updated as new developments unfold."
About New Energy Systems Group
New Energy Systems Group is a vertically integrated original
design manufacturer and distributor of lithium-ion batteries and
backup power systems for mobile phones, laptops, digital cameras,
MP3s and a variety of other portable electronics. The company's
end-user consumer products are sold under the Anytone brand in
China, and New Energy has recently
begun expanding its international sales efforts. The fast pace of
new mobile device introductions in China combined with a growing middle class
make it fertile ground for New Energy's end-user consumer products
as well as its high-powered, lightweight lithium-ion batteries. In
addition to historically strong organic growth, New Energy
anticipates that it will benefit from economies of scale, broader
distribution, greater production capacity and higher profit margins
in 2010. Additional information about the company is available at:
http://www.newenergysystemsgroup.com .
Forward Looking Statements
This release contains certain "forward-looking statements"
relating to the business of the company and its subsidiary and
affiliated companies. These forward looking statements are often
identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions. Such forward looking
statements involve known and unknown risks and uncertainties that
may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
Investors should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of factors, including those discussed in the company's
periodic reports that are filed with the Securities and Exchange
Commission and available on its website ( http://www.sec.gov ). All
forward-looking statements attributable to the company or to
persons acting on its behalf are expressly qualified in their
entirety by these factors other than as required under the
securities laws. The company does not assume a duty to update these
forward-looking statements.
For more information, please contact:
Crescendo Communications, LLC
David Waldman or Klea Theoharis
Tel: +1-212-671-1020
Email: newn@crescendo-ir.com
SOURCE New Energy Systems Group
Copyright . 13 PR Newswire