SOURCE: Highpower International

Highpower International

August 22, 2013 07:00 ET

Highpower International Subsidiary, Springpower Technology (Shenzhen) Co. Ltd., Passes China's National High-Tech Enterprise Certification

Springpower Receives Status During First 2013 Batch of Awarded National High-Tech Enterprises of Shenzhen

SAN FRANCISCO, CA and SHENZHEN, CHINA--(Marketwired - Aug 22, 2013) - Highpower International, Inc. (NASDAQ: HPJ), a developer, manufacturer and marketer of nickel-metal hydride (Ni-MH) and lithium rechargeable batteries and battery solutions, today announced that its wholly-owned subsidiary, Springpower Technology (Shenzhen) Co. Ltd ("Springpower"), has been awarded National High-Tech Enterprises status and certification from the Science and Technology Innovation Commission of Shenzhen.

"Technological innovation, quality, and performance are core competencies of Highpower. The products we deliver to our customers are manifested with these values. We are very pleased that Springpower, a fast growing subsidiary of Highpower, was recognized by the Science and Technology Innovation Commission of Shenzhen," stated Mr. George Pan, Chairman and Chief Executive Officer of Highpower International. "In addition, as one of China's National High-Tech Enterprises, Springpower will benefit from a reduced income tax rate of 15% versus 25% for non High-tech status. Consequently, we will be able to make a greater investment in R&D toward developing next generation lithium battery products and enable the long-term growth of our company," concluded Mr. Pan.

"The lithium battery industry is under rapid development and our customers' needs are constantly evolving," said Mr. Wenliang Li, Chief Technology Officer of Highpower International. "Therefore we put our R&D efforts as a top strategic priority and being recognized as a National High-Tech Enterprise is another acknowledgement of our continually improving and advanced technologies."

About China's National High-Tech Enterprises

The certification of National High-Tech Enterprises was started in the early 1990s in order to establish China's high-tech industry and promote the rapid development of high tech enterprises. The State Council issued "conditions and measures of the high and new technology enterprises in National High Tech Industrial Development Zone (Guo Fa [1991] No. 12)" in 1991 and authorized the State Science and Technology Commission to organize High-Tech Enterprises of National High-Tech Industrial Development Zone. It set up a series of preferential policies in tax, financial and trade to support the development of High-Tech Enterprises.

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 bikes, energy storage systems, power tools, medical equipment, digital and electronic devices, personal care products, and lighting, etc. With over 3,000 employees and advanced manufacturing facilities located in Shenzhen and Huizhou 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 strategy, and statements about industry trends and 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. 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.

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