SOURCE: Advanced Battery Technologies, Inc.

Advanced Battery Technologies, Inc.

November 03, 2014 08:44 ET

Advanced Battery Technologies Announces Plans to Become Fully Reporting

Retains Paritz & Company, P.A. as Independent Auditor

NEW YORK, NY and BEIJING, CHINA--(Marketwired - November 03, 2014) - Advanced Battery Technologies, Inc. (PINKSHEETS: ABAT), specializing in the design, manufacture and distribution of eco-friendly rechargeable batteries and related light electric vehicle products, has retained Paritz & Company, P.A. as its independent auditor to audit the Company's financial statements for the years ended December 31, 2011, 2012, 2013 and 2014.

Mr. Zhiguo Fu, Chairman and CEO of Advanced Battery Technologies, commented, "We are pleased to retain Paritz & Company, P.A. to audit the financial statements from 2011 to 2014 and we are determined to become fully compliant with SEC reporting rules. While our Company's stock performance has been disappointing in the past 3 years given the capital market conditions, we have never stopped developing product-related technologies, innovating new products and growing our operations during that time. Our Company is focused on enhancing shareholder value and building a sustainable eco-friendly battery business. We are excited and optimistic about our Company's growth prospects. We will start to communicate with the investment community with more frequency and we look forward to reporting solid operational and financial results to our shareholders."

About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc. (ABAT), a Delaware corporation with executive office in Beijing, China is committed to the clean energy industry. With three manufacturing subsidiaries in Harbin, Wuxi and Dongguan, China, ABAT engages in the design, manufacture, marketing and distribution of rechargeable polymer lithium-ion (PLI) batteries and related Light Electric Vehicles (LEV's) products. Additional information about the Company is available at: http://abat.sys145.pkulab.com/a/english/

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, risks that the demand for the Company's electric vehicles may be limited. We undertake no obligation to revise or update publicly any forward-looking statements.

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