NEW YORK and SHENZHEN, China, Nov. 1, 2010 /PRNewswire-Asia-FirstCall/ -- New Energy Systems Group (NYSE Amex: NEWN)("New Energy" or the "Company"), a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems, announced its participation in three electronics trade shows over the past two months to promote its new MeePower™ brand. The shows were held in Hong Kong, Taiwan and Singapore and attracted a combined total of over 25,000 people from approximately 160 countries.
Mr. Nian Chen, New Energy's Chief Executive Officer, commented, "We are pleased to report that our new MeePower™ back up power systems were well received at these highly-regarded and well attended events. Branding is at the core of our growth strategy and we have begun the process in our home region. The trade shows included the 10th Edition GlobalTronics 2010 show in Singapore, the Hong Kong Electronic Fair (Autumn Edition) and the 36th Taipei International Electronics Show in Taipei. As a result of our participation, we are in the process of establishing cooperative partnerships with companies located in Hong Kong, Taiwan and Singapore for distribution of MeePower™ products."
Mr. Chen continued, "The scope of our marketing strategy reaches far beyond China's borders and our next frontier is the United States where we have already begun forming alliances. We are on track to begin supplying distributors with MeePower™ products in the U.S. by year-end 2010."
About New Energy Systems Group
New Energy Systems Group is a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems for mobile phones, laptops, digital cameras, MP3s and a variety of other portable electronics. The company's end-user consumer products are sold under the Anytone brand in China, and the company has begun expanding its international sales efforts. The fast pace of new mobile device introductions in China combined with a growing middle class make it fertile ground for New Energy's end-user consumer products, as well as its high powered, light weight lithium ion batteries. In addition to historically strong organic growth, New Energy is expected to benefit from economies of scale, broader distribution, greater production capacity and higher profit margins in 2010. Additional information about the company is available at: www.newenergysystemsgroup.com.
Forward Looking Statements
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors 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 (www.sec.gov). All forward-looking statements attributable to the Company or to 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: |
| New Energy Systems Group |
| Ken Lin, VP of Investor Relations |
| Tel: +1-917-573-0302 |
| Email: klin1330@hotmail.com |
