Sunrise Secures Additional $13.75 Million Low-Interest Loan from CCB, Bolstering Liquidity for Order Fulfillment
July 22 2024 - 3:39PM
Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”,
“we” or “our”) (NASDAQ: EPOW), today announced that it has
successfully secured an additional $13.75 million low-interest loan
from China Construction Bank (CCB). This brings the total loans
received from CCB in 2024 to $27.51 million. The new funds will
significantly enhance the company’s liquidity, allowing for quicker
delivery of orders from major global lithium battery manufacturers
such as CATL, BYD, and HiTHIUM.
China Construction Bank, one of the largest banks in China, has
a rigorous loan approval process that evaluates a company’s assets,
financial status, technological achievements, talent team, patents,
and market recognition. Securing this substantial low-interest loan
from CCB is a strong affirmation of Sunrise New Energy’s
capabilities.
"This bank loan underscores our strong reputation and
provides us with significant low-interest capital without diluting
shareholder equity. This enables us to take on more orders, thereby
increasing our revenue and profitability." remarked by Mr. Haiping
Hu, CEO of Sunrise New Energy.
About Sunrise New Energy Co., Ltd
Headquartered in Zibo, Shandong Province, China,
Sunrise New Energy Co., Ltd., through its joint venture, is engaged
in the manufacturing and sale of graphite anode material for
lithium-ion batteries. The Company's joint venture has completed
the construction of a manufacturing facility with a production
capacity of 50,000 tons in Guizhou Province, China. The plant runs
on inexpensive electricity from renewable sources, which helps to
make Sunrise New Energy a low-cost and low–environmental-impact
producer of graphite anode material. Mr. Haiping Hu, the
founder and CEO of the Company, is a major pioneer
for the graphite anode industry in China starting from
1999. The Company’s management team is also composed
of experts with years of experiences and strong
track-records of success in the graphite anode industry. In
addition, the Company also operates a knowledge sharing
platform in China. For further information, please visit the
Company’s website at www.sunrisenewenergy.com. The Company
maintains a Twitter account (@sunrisenewener1) to keep investors up
to date on the latest development of the Company.
Forward-looking statement
Certain statements in this press release
regarding the Company's future expectations, plans and prospects
constitute forward-looking statements as defined by Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements about plans, goals, objectives,
strategies, future events, expected results, assumptions and any
other factual statements that have not occurred. Any words that
refer to "may", "will", "want", "should", "believe", "expect",
"expect", "estimate", "estimate" or similar non-factual words,
shall be regarded as forward-looking statements. Due to various
factors, the actual results may differ materially from the
historical results or the contents expressed in these
forward-looking statements. These factors include, but are not
limited to, the company's strategic objectives, the company's
future plans, market demand and user acceptance of the company's
products or services, technological updates, economic trends, the
company's reputation and brand, the impact of industry competition
and bidding, relevant policies and regulations, the ups and downs
of China's macroeconomic conditions, the relevant international
market conditions, and other related risks and
assumptions disclosed in the Company’s Annual Report on Form 20-F
published on the SEC’s website. In view of the above and other
related reasons, we urge investors to visit the SEC’s website
and consider other factors that may affect the Company's future
operating results. The Company is under no obligation to make
public amendments to changes in these forward-looking statements
unless required by law.
For more information, please contact:
The Company:
IR Department
Email: IR@sunrisenewenergy.com
Phone: +86 4009919228
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