NEW YORK and SHENZHEN, China, Dec. 2 /PRNewswire-Asia/ -- New Energy Systems Group (OTC Bulletin Board: NEWN), a manufacturer and distributor of battery components in China, today announced that it has received a purchase order for lithium ion batteries valued at $2.2 million from Shenzhen Gaoke Group, a recognized name in telecommunications, audio/video and entertainment products. The purchase order will be fulfilled over the course of the year ending December 2010.
Mr. Fushun Li, Chief Executive Officer, commented, "Gaoke Group is an award winning company in China and we are very pleased with their decision to purchase lithium ion batteries directly from New Energy. The batteries will be used in Gaoke's telephone sets, which have a leading market position in China, as well as the company's other products, such as DVDs, MP3s, MP4s and multimedia sound boxes. Gaoke sells its products in more than 50 countries, including Germany, the UK, France, Italy, Russia, Brazil and Singapore. This is the first purchase order we have received from the Gaoke Group after careful evaluation, and we look forward to a long and mutually beneficial relationship with them."
Mr. Li continued, "At the beginning of this year, one of management's goals was to add additional customers for our finished lithium ion battery businesses, which tends to have higher profit margins than our other business segment. The Gaoke contract not only further diversifies our customer base in the distribution segment, but also further validates our ability to attract large, established customers. Our growth strategy includes both deepening our penetration of existing clients, as well as adding similar large clients in the near future."
About Shenzhen Gaoke Group
Shenzhen Gaoke Group, established in 1993, develops and markets telecommunication, audio/video and entertainment products. The company sells products under its own brand name and is also a supplier to OEMs. Its products are sold to more than 50 countries, including Germany, the UK, France, Italy, Russia, Brazil, Singapore, Korea, Hong Kong and Taiwan. The company has many high-tech, design and practical patents and its products have various certifications, such as ISO9001 Quality Management System, ISO14001 Environment Management System, OHSAS18001 Occupation Health and Safety Management System, CE, FCC, UL and 3C. Gaoke Group won the "China Top Brand" award from the China State Bureau of Quality and Technical Supervision in 2005 and "China's Exporting Corporation with Accomplishments" award by Global Sources. The company employs 2,000 people and has more than 30 branches and offices in the country with sales networks and an e-commerce platform. Additional information can be found at http://www.szgaoke.com .
About New Energy Systems Group
New Energy Systems Group is a leading manufacturer and distributor of lithium ion batteries. The company assembles and distributes finished batteries through its sales network and channel partners. The company also sells high-quality lithium-ion battery shell and cap products to major lithium-ion battery cell manufacturers in China. The company's products are used to power mobile phones, MP3 players, laptops, digital cameras, PDAs, camera recorders and other consumer electronic digital devices. Additional information about the company is available at http://www.newenergysystemsgroup.com .
Forward Looking Statements
Except for the historical information, the matters discussed in this news release may contain forward-looking statements, including, but not limited to, factors relating to future sales. These forward-looking statements may involve a number of risks and uncertainties. Actual results may differ materially based on a number of factors, including, but not limited to, uncertainties in product demand, risks related to doing business in China, the impact of competitive products and pricing, changing economic conditions around the world, release and sales of new products and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission.
For more information, please contact:
Crescendo Communications, LLC
David Waldman or Klea Theoharis
Phone: +1-212-671-1020
Email: info@newenergysystemsgroup.com
