SAN FRANCISCO and SHENZHEN, China, Aug.
9, 2016 /PRNewswire/ -- Highpower International, Inc.
(NASDAQ: HPJ), a developer, manufacturer, and
marketer of lithium and nickel-metal hydride (Ni-MH) rechargeable
batteries, today announced that Mr. Henry
Sun, the Company's Chief Financial Officer, has tendered his
resignation effective August 3, 2016,
to pursue other interests.
Mr. Sun will continue to serve Highpower through its transition
period and continue to advise on the Company's corporate and
financial strategy. Mr. Sunny Pan,
Highpower's Financial Controller and General Manager of Huizhou
Highpower Technology Co. Ltd., will assume the role of interim
CFO.
Mr. George Pan, Chairman and
Chief Executive Officer of Highpower International, stated, "We
wish to thank Henry for his dedication and contributions to the
Company over the past five years. He has been an important
member of the team throughout our development as a public company
and we wish him the best in future endeavors."
Mr. Sun stated, "It has been truly a pleasure to work with
George and the management team at Highpower during the past five
years. I look forward to helping the Company through this interim
period of transition."
Mr. George Pan continued, "We
have begun to search for a permanent replacement for the Chief
Financial Officer position and have appointed Mr. Sunny Pan as interim CFO. Mr. Sunny Pan's financial acumen and familiarity of
Highpower's operations and financial structure will allow the
Company a smooth transition. In addition, we have appointed
Ms. Yuanmei Ma as Investor Relations
Manager to assist the Company in its relations with the US Capital
markets. We are greatly looking forward to working with her in the
months and years ahead."
Background on Mr. Sunny Pan /
Appointment of Ms. Yuanmei Ma as
Investor Relations Manager
Mr. Sunny Pan has over 20 years'
experience in Finance & IT management positions in several
multi-national companies, and has worked with Highpower since
January 2015 as Financial Controller
and General Manager of Huizhou Highpower Technology Co. Ltd., since
January 2016. Prior to his position at Highpower, Mr.
Sunny Pan served as Financial
Controller for Philips Luminaire Manufacturing (Shenzhen) Co., Ltd. He has ACCA (UK) and
CICPA (China) qualifications, and
has extensive experience in OX IFRS / China GAAP / US GAAP. He
holds a Bachelor's Degree and MBA from New York Institution of
Technology (NYIT). Mr. Sunny
Pan has no relation to Chairman George Pan at Highpower.
The Company also announced that it has appointed Ms.
Yuanmei Ma as Investor Relations
Manager. Ms. Ma, who is based in California, US, has over a decade of
experience in a variety of capital market positions for
publicly-held companies. This includes serving as Chief Financial
Officer for three separate public and private companies based in
China from 2005 - 2013 in the
steel, pharmaceutical, and food processing industries. Most
recently she served as a Partner for Shangdong Runwo Investment and
Asset Management Company, LLC, a Beijing-based asset management company. Ms. Ma
has a BS in Accounting from Arkansas State
University and Executive MBAs from INSEAD Business School in
Fontainebleau, France and Tsinghua
University in Beijing, China.
2016 Second Quarter Financial Results
As previously announced, Highpower will issue its financial
results for the second quarter of 2016 prior to the opening of the
stock market on Friday, August 12,
2016, and then discuss its results and updates on its
operations in a conference call that morning at 10:00 a.m. ET / 7:00 a.m.
PT.
Conference Call
Details
|
Date /
Time:
|
Friday, August 12, 2016 at
10:00 a.m. ET
|
Participant Dial-In
Numbers
|
(United
States):
|
877-407-3108
|
(International):
|
201-493-6797
|
Webcast
To listen to the live webcast, please go to at
www.highpowertech.com and click on the conference call link, or go
to: http://highpowertech.equisolvewebcast.com/q2-2016. This webcast
will be archived and accessible through the Company's website for
approximately 30 days following the call.
About Highpower International, Inc.
Highpower International was founded in 2001 and produces
high-quality Nickel-Metal Hydride (Ni-MH) and lithium-based
rechargeable batteries used in a wide range of applications such as
electric buses, bikes, energy storage systems, power tools, medical
equipment, digital and electronic devices, personal care products,
and lighting. Highpower's target customers are Fortune 500
companies, and top 10 companies in each vertical segment. With
advanced manufacturing facilities located in Shenzhen, Huizhou, and Ganzhou of China, Highpower is committed to clean
technology, not only in the products it makes, but also in the
processes of production. The majority of Highpower International's
products are distributed to worldwide markets mainly in
the United States, Europe, China
and Southeast Asia.
Forward Looking Statements
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 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, including, unexpected
delays of the availability of our portable power station, such as
shipping and delivery delays, market acceptance of our products in
the U.S., and our ability to effectively compete and grow in the
U.S. market. 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.
CONTACT:
Highpower International, Inc.
Sherry Chen
+86-755-8968-6521
ir@highpowertech.com
INVESTOR RELATIONS:
The Equity Group Inc.
In China
Katherine Yao, Senior Associate
+86-10-6587-6435
kyao@equityny.com
In U.S.
Adam Prior, Senior Vice
President
(212) 836-9606
aprior@equityny.com
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SOURCE Highpower International, Inc.