SAN FRANCISCO and SHENZHEN, China, Jan.
11, 2016 /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 special committee (the "Special Committee") of the
Company's Board of Directors (the "Board") has retained ROTH
Capital Partners as its financial advisor and Katten Muchin
Rosenman LLP as its legal counsel
in connection with its review and evaluation of
the non-binding investment proposal (the "Proposal") dated November
23, 2015 from Anshan Co-Operation (Group) Co.,
Ltd., joined with China Innovative Capital Management Ltd. and
Mr. George Pan, Chairman and CEO,
and certain management of Highpower International, to purchase
newly issued shares of three subsidiaries in China wholly-owned by Highpower International,
Inc.
The Board cautions the Company's shareholders and others
considering trading in the Company's securities that no decisions
have been made by the Special Committee with respect to the
Company's response to the Proposal and there can be no assurance
that any definitive offer will be made, that any agreement will be
executed or that this or any other transaction will be approved or
consummated.
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.
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.