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EPOW Receives $14 Million Financing from China Everbright Bank to Fulfill Orders from Leading Global Lithium Battery Manufacturers

Written by Customer Service on . Posted in Public Companies.

ZIBO, China, March 08, 2024 (GLOBE NEWSWIRE) —  Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced securing a significant financing of $14 million USD from China Everbright Bank. This low-interest loan effectively bolsters the Company’s liquidity, ensuring seamless production and delivery of client orders. Among the esteemed clientele are globally renowned lithium battery manufacturers such as Contemporary Amperex Technology Co. Limited (CATL), BYD and HiTHIUM.

“Our clients have expressed immense satisfaction with the quality of products we’ve delivered, leading to a continuous surge in orders. Our factory production lines are running at high capacity to ensure efficient and dynamic manufacturing.” commented Haiping Hu, CEO of Sunrise. “Securing this bank loan underscores our Company’s sterling reputation. Moreover, without diluting shareholder equity, it provides us with a substantial influx of low-interest capital, significantly boosting our cash flow. This, in turn, enables us to accommodate more orders, thereby generating increased revenue and profits.”

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

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