ZIBO, China - Sunrise New Energy Co., Ltd. (NASDAQ:EPOW), a manufacturer of graphite anode material for lithium-ion batteries, has disclosed that its CEO, Mr. Haiping Hu, has bolstered his investment in the firm by acquiring an additional 309,928 shares since January 2024. This purchase increases his total ownership to 8,140,461 shares, as part of a broader plan to expand his stake over the next six months.
Mr. Hu's confidence in the company's long-term potential is underscored by his recent share acquisition and his intention to continue investing. He attributes this optimism to Sunrise's recent transition into the lithium battery materials industry. The company has completed the construction of a new factory in Guizhou Province, China, with an annual production capacity of 50,000 tons.
The CEO highlighted the company's establishment of partnerships with leading electric vehicle and energy storage battery manufacturers, including CATL, BYD (SZ:002594), Narada, Pylon Technologies, and HiTHIUM. These collaborations, along with positive feedback on product quality and a rise in orders, have positioned Sunrise to anticipate substantial growth in sales revenue and profits for the fiscal year 2024.
Despite a downturn in its stock prices, the management believes that the current market valuation does not reflect the company's true worth. In response, Mr. Hu and his team are committed to strategic actions aimed at enhancing shareholder value for the long term.
Sunrise New Energy, based in Shandong Province, operates through a joint venture and leverages renewable energy sources to maintain cost-effective and environmentally friendly production. The company's leadership, including Mr. Hu who has been a significant figure in China's graphite anode industry since 1999, comprises experts with extensive experience in the sector.
The company also manages a knowledge sharing platform in China and maintains a Twitter account to update investors on its developments. The information for this article is based on a press release statement from Sunrise New Energy Co., Ltd.
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