SAN FRANCISCO and SHENZHEN, China, October 31, 2014 /PRNewswire/ — Highpower International, Inc. (“Highpower International” or “the Company”) (NASDAQ: HPJ), a developer, manufacturer, and marketer of lithium and nickel-metal hydride (Ni-MH) rechargeable batteries, and a battery management systems and battery recycling provider, today announced that the Company’s wholly-owned subsidiary, Icon Energy System Co. Ltd. (“Icon”), and Ganzhou Highpower Technology (Shenzhen Highpower holds 60% of its equity interest) have been awarded National High-Tech Enterprise status and certification by the Science and Technology Innovation Commission of Shenzhen and Science and Technology Department of Jiangxi Province.
“Technological excellence is a core competency of Highpower. Today, the fact that four out of the five subsidiaries of Highpower International, Inc. have received China’s national high-tech enterprise status proves our commitment to the technological advancement of our Company,” stated Mr. George Pan, Chairman and Chief Executive Officer of Highpower International. “In addition, Icon and Ganzhou Highpower will benefit from a reduced corporate income tax rate of 15% as China’s National High-Tech Enterprises, compared to 25% for companies without the national high-tech status. We have always put R&D efforts as a top strategic priority. We believe technological advancements will continue to drive Highpower’s long-term growth,” concluded Mr. Pan.
About China’s National High-Tech Enterprises
The certification of National High-Tech Enterprises was started in the early 1990s in order to establish China’s high-tech industry and promote the rapid development of high tech enterprises. The State Council issued “conditions and measures of the high and new technology enterprises in National High Tech Industrial Development Zone (Guo Fa  No. 12)” in 1991 and authorized the State Science and Technology Commission to organize High-Tech Enterprises of National High-Tech Industrial Development Zone. It set up a series of preferential policies in tax, financial and trade to support the development of High-Tech Enterprises.
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, our ability to successfully expand sales of our lithium battery product in the mobile device market and our ability to effectively compete in that 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.
Highpower International, Inc.
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