EPOW Announces It Has Delivered 3,000 Metric Tons Graphite Anode Purchase Order in July, Making A New Record

Rhea-AI Summary

Sunrise New Energy Co., Ltd. has achieved a new record of monthly shipment by delivering 3,000 metric tons of graphite anode to customers in July. The Company expects significant revenue increase in the second half of this year.

Positive

• Sunrise has delivered a record-breaking 3,000 metric tons of graphite anode to customers in July, indicating strong demand for its products. This achievement is expected to result in a significant revenue increase for the Company in the second half of the year.

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ZIBO, China, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced Sunrise (Guizhou) New Energy Materials Co., Ltd. has delivered 3,000 metric tons graphite anode to customers in July, making a new record of monthly shipment. Sunrise’s key customers include the global top ten manufacturers of power batteries and energy storage batteries, such as BYD Company Limited (ticker: 002594) and Zhejiang Narada Power Source Co.,Ltd. (ticker: 300068). The Company anticipates that it will recognize significant revenue increase in the second half of this year.

“This is a huge step for us to finish the construction of 30,000 tons annual manufacturing capacity and provide stable supply to the world's top manufacturers of power and energy storage batteries. ” said Sunrise’s Chairman, Mr. Haiping Hu. “We strive to meet customers' requirements for high-quality products, bringing excellent reputation and financial benefits to the Company.”

About Sunrise New Energy Co., Ltd

Headquartered in Zibo, Shandong Province, China, Sunrise New Energy Co., Ltd., through its joint venture, is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries. The Company’s joint venture is constructing a 260,543 ㎡manufacturing plant in Guizhou Province, China. The plant runs on inexpensive electricity from renewable sources, which helps to make Sunrise New Energy a low-cost and low–environmental-impact producer of graphite anode material. Mr. Haiping Hu, the founder and CEO of the Company, is a major pioneer for the graphite anode industry in China starting from 1999. The Company’s management team is also composed of experts with years of experiences and strong track-records of success in the graphite anode industry. In addition, the Company also operates a knowledge sharing platform in China. For further information, please visit the Company’s website at www.sunrisenewenergy.com. The Company also maintains a Twitter account (@sunrisenewener1) to keep investors up to date on the latest development of the Company.

Forward-looking statement

Certain statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements as defined by Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions and any other factual statements that have not occurred. Any words that refer to "may", "will", "want", "should", "believe", "expect", "expect", "estimate", "estimate" or similar non-factual words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or the contents expressed in these forward-looking statements. These factors include, but are not limited to, the company's strategic objectives, the company's future plans, market demand and user acceptance of the company's products or services, technological updates, economic trends, the company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, the ups and downs of China's macroeconomic conditions, the relevant international market conditions, and other related risks and assumptions disclosed in the Company’s Annual Report on Form 20-F.. In view of the above and other related reasons, we advise investors not to blindly rely on these forward-looking statements, and we urge investors to visit the SEC’s website to consult the company's relevant documents for other factors that may affect the company's future operating results. The company is under no obligation to make public amendments to changes in these forward-looking statements due to specific events or reasons unless required by law.

For more information, please contact:

The Company:
IR Department
Email: IR@sunrisenewenergy.com
Phone: +86 4009919228

FAQ

What is the recent achievement of Sunrise New Energy Co., Ltd.?

Sunrise New Energy Co., Ltd. has delivered 3,000 metric tons of graphite anode to customers in July, setting a new record for monthly shipment.

Who are Sunrise's key customers?

Sunrise's key customers include top manufacturers of power batteries and energy storage batteries, such as BYD Company Limited and Zhejiang Narada Power Source Co.,Ltd.

What is the expected impact of this achievement on Sunrise's revenue?

The Company anticipates a significant revenue increase in the second half of this year as a result of this achievement.