Sunrise Secures New Key Client with Significant Order
Sunrise New Energy (NASDAQ: EPOW) announced the acquisition of a significant new client, Times Geely (Sichuan) Power Battery. This client will start with a substantial monthly order of 300 tons of anode materials for power batteries.
Times Geely is a joint venture between CATL, the world's largest power battery manufacturer, and Zhejiang Geely Holding Group, a Fortune 500 auto manufacturer. The order underscores the high quality of Sunrise's lithium battery anode materials and is expected to significantly enhance the company's performance and market presence.
Chairman Haiping Hu stated that the new order from Times Geely not only confirms the reliability of Sunrise's products but also sets the stage for substantial future growth and revenue.
- Acquisition of Times Geely as a new client.
- Substantial monthly order of 300 tons of anode materials.
- Times Geely is a joint venture between leading global companies CATL and Zhejiang Geely.
- Expected enhancement in performance and market presence.
- Potential for substantial future growth and revenue.
- None.
Insights
Securing a substantial order from a major joint venture like Times Geely can provide a substantial boost to Sunrise New Energy's revenue streams. This partnership aligns Sunrise with established industry leaders in power batteries and electric vehicles, potentially offering long-term stability and growth. The immediate financial benefit would be an increase in monthly recurring revenue due to the order volume of 300 tons of anode materials. For
Investors should note the potential for future scalability. If this partnership proves successful, it could open doors to larger contracts and partnerships with other industry players. However, it's essential to keep an eye on how this agreement influences gross margins and production costs. Scaling up production could increase operational costs and pricing strategy will be important to maintain profitability.
Sunrise New Energy's new client acquisition highlights the growing market demand for electric vehicle (EV) components, particularly in the battery sector. As a joint venture between industry giants CATL and Geely, Times Geely's choice underscores the strategic importance of Sunrise's products in the green technology ecosystem. This is not just a validation of product quality but a strategic endorsement that could enhance Sunrise's reputation and attract further business.
From a market dynamics perspective, investors should consider the competitive landscape. The EV battery market is expanding rapidly, with significant investments in research, development and production capabilities. Being chosen by a leading player suggests Sunrise is well-positioned to benefit from these trends. However, the company should continually innovate to stay competitive and meet evolving industry standards.
Sunrise New Energy's ability to fulfill a substantial monthly order of 300 tons of anode materials reflects advanced manufacturing capabilities and a reliable supply chain. For tech-focused investors, this is a clear indicator of the company's technical prowess and capacity to meet high-volume demands. The partnership with Times Geely will likely drive further technological advancements and production efficiencies, essential for maintaining a competitive edge in the battery technology sector.
Additionally, the emphasis on lithium battery anode materials positions Sunrise strategically within the EV supply chain. The increasing adoption of EVs mandates significant improvements in battery technology, particularly in anodes, which play a critical role in battery efficiency and lifespan. This partnership may catalyze further R&D efforts, leading to technological breakthroughs that could substantially benefit the company and its stakeholders.
ZIBO, China, June 25, 2024 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced the acquisition of a significant new client, Times Geely (Sichuan) Power Battery Co., Ltd. ("Times Geely"), which will commence with a substantial monthly order of 300 tons of anode materials for power batteries.
Times Geely is a joint venture between CATL(Contemporary Amperex Technology Co., Ltd.), the world's largest power battery manufacturer and the global market share leader for seven consecutive years, and Zhejiang Geely Holding Group, a Fortune 500 auto manufacturer for eleven consecutive years. As a renowned manufacturer of electric vehicle batteries, Times Geely's decision to place a new order underscores the high quality of Sunrise's lithium battery anode materials.
“We are extremely proud to welcome Times Geely as a key client. Its recognition is expected to significantly enhance our performance and market presence.” stated Mr. Haiping Hu, Chairman of Sunrise New Energy, “This new order from a prestigious client like Times Geely not only underscores the reliability and excellence of Sunrise’s products but also sets the stage for substantial future growth and revenue.”
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 has completed the construction of a manufacturing facility with a production capacity of 50,000 tons 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 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 published on the SEC’s website. In view of the above and other related reasons, we urge investors to visit the SEC’s website and consider 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 unless required by law.
For more information, please contact:
The Company:
IR Department
Email: IR@sunrisenewenergy.com
Phone: +86 4009919228
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