SOURCE: Hong Kong Highpower Technology

Hong Kong Highpower Technology

September 21, 2009 07:00 ET

Hong Kong Highpower Technology Provides Sales Update and Announces New Contract with Siemens Gigaset Communications GmbH

NEW YORK, NY AND SHENZHEN, CHINA--(Marketwire - September 21, 2009) - Hong Kong Highpower Technology, Inc. (NYSE Amex: HPJ), a leading developer, manufacturer and marketer of nickel-metal hydride (Ni-MH) and lithium-ion (Li-ion) rechargeable batteries and related products, today provided an update on third quarter sales trends. During July and August 2009, the Company generated $13.3 million in sales, an increase of approximately 8% over the same two months in 2008.

"We have continued to experience positive sales trends through the first two months of the third quarter," said George Pan, Chairman and Chief Executive Officer of Hong Kong Highpower Technology. "The healthy increase in unit shipments is helping to drive an increase in sales. Our sales growth and continuing efforts to reduce our production costs are having a positive impact on our financial results."

Siemens Gigaset Communications GmbH Contract

The Company also announced that it has signed a new contract with Gigaset Communications GmbH to supply rechargeable batteries for cordless phones sold in Europe under the Gigaset brand (Siemens Home and Office Communication Devices GmbH & Co. KG operated under the name "Gigaset Communications GmbH" since Oct 1st, 2008). The contract runs through June 30, 2010.

"We are very pleased to begin working with Gigaset Communications, which represents a significant new ODM relationship for the Company," said Mr. Pan. "Gigaset is committed to producing phones with the most stringent quality and environmental standards, and we are excited to help them continue building their reputation for excellence. With this contract, we will become one of the largest battery suppliers to Gigaset Communications. Gigaset is the clear European market leader in cordless telephones and we hope to grow our relationship over time."

About Hong Kong Highpower Technology, Inc.

Hong Kong Highpower Technology develops, manufactures and markets rechargeable nickel metal hydride (Ni-MH) and lithium-ion (Li-ion) batteries and related products for use in a variety of electronic devices. The majority of Hong Kong Highpower Technology's products are distributed worldwide to markets in the United States, Europe, China, Hong Kong, Southeast Asia and Taiwan. For more information, visit

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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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