SHENZHEN, China, Sept. 23 /Xinhua-PRNewswire-FirstCall/ -- China Ritar Power Corp. (OTC Bulletin Board: CRTP), (the "Company" or "China Ritar"), a leading Chinese manufacturer of lead-acid batteries, today announced that it has retained Elite Investor Relations (“Elite IR”) to lead an expanded investor relations campaign.
“We are very excited to work with Elite IR as we launch a new investor relations campaign to raise our profile and ensure that the broad investment community fully understands our growth prospects,” commented Mr. Jiada Hu, China Ritar’s Chairman and CEO. “China Ritar is a rapidly growing international lead-acid battery company based in Shenzhen, China. We have built a strong position in our targeted niche markets: uninterruptible power sources, telecommunications, light electric vehicles and renewable energy such as wind and solar power. We are in the process of expanding our production capacity from 14 lines today to 34 lines by the end of 2010. Moreover, we expect our gross margins to improve 3-5% in the long-term as we integrate lead plate manufacturing.”
“We are looking forward to working with China Ritar in developing and executing a highly visible investor relations campaign. In addition to the Company’s aggressive ramping up of its production capacity, China Ritar also has under development some exciting new technologies for smaller and lighter batteries that last up to 50% longer than current batteries. Moreover, I believe China Ritar will experience a significant benefit from the rising demand for renewable energy,” commented Ms. Nancy Chen, Managing Partner of Elite IR. “Our goals are to improve visibility and sponsorship throughout the global financial communities, creating a more appropriate market valuation and understanding of the potential of China Ritar.”
About China Ritar
China Ritar designs, develops, manufactures and markets environmentally friendly lead-acid batteries with a wide range of capacities and applications, including telecommunications, Uninterrupted Power Source (UPS) devices, Light Electrical Vehicles (LEV), and alternative energy production (solar and wind power). China Ritar sells, markets and services six series and 197 models of Ritar-branded, cadmium-free valve-regulated lead-acid (VRLA) batteries. Products are sold worldwide with sales in 56 countries including China, India, and numerous markets in Europe and the Americas. Additional information can be found at the company’s website http://www.ritarpower.com .
About Elite IR
Elite IR is a professional investor relations service provider focused on offering the highest level of personalized IR support to U.S. and Hong Kong listed companies. The Company provides high quality, strategic,
service-oriented IR counsel that is critical to maintaining visibility in the global equity markets and a fair market value. As a full service firm, Elite IR is committed to building a long-term cooperation with its clients. Additional information can be found at http://www.elite-ir.com .
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You 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 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:
Elite IR
John Marco, Managing Partner
Tel: +1-310-819-2948
Email: John.marco@elite-ir.com
Elite IR
Leslie J. Richardson, Managing Partner
Tel: +852-3183-0283
Email: Leslie.richardson@elite-ir.com
