2010 10-K http://sec.gov/Archives/edgar/data/1144320/000101376211000729/form10k.htm
New Energy Systems Group, headquartered in Shenzhen, is a leading manufacturer of components and accessories for batteries used in cell phones and other mobile devices. New Energy recently expanded its business lines to include battery assembly and finished battery distribution. The company’s new Anytone division also offers a broad spectrum of end-user battery accessories, such as backup power systems for mobile phones, notebook computers, digital cameras, MP4s, PMPs, PDAs, solar and digital applications. Shenzhen NewPower Technology Co., which was acquired in January 2010, brings extensive manufacturing expertise and capabilities to New Energy and is strategically important in enabling vertical integration of the business. New Energy is now a major presence in the Chinese electronics manufacturing market, with over 487 employees and worldwide market reach.
In a country with $4 billion of lithium ion battery sales per year, a growing affluent middle class and an exciting array of innovative mobile devices being introduced into the Chinese market, New Energy is well positioned to grow through its quality product offerings, expanding distribution networks and accretive acquisitions.
The company has set a strategic goal of becoming one of the largest battery manufacturers and distributors in China, with a significant presence in the global markets.
EX-99.1 2 ex991.htm EXHIBIT 99.1
New Energy has more than 500 employees and its workforce is led by highly skilled technicians and engineers. The management team and independent directors have extensive experience in the Shenzhen high-technology sector. They are:
Weihe Yu (Chairman)
Mr. Weihe Yu has spent his career in the industrial sector where he has demonstrated his ability to maximize performance, streamline costs and increase sales. Most recently, he was one of the founders and the general manager of Shenzhen Anytone Technology Co., Ltd. After only three years the company became a leader in the mobile power industry with many patents and core technologies. Under his management, Anytone has become a highly recognized brand and the company’s revenue has grown more than 100% annually over the past four years. Prior to Anytone, Mr. Yu was general manager of Shenzhen Four Images Industrial Co., Ltd. whose business is to create protection circuits for lithium ion batteries. During his tenure there, the company’s proprietary products were at the forefront of the industry and widely used by the largest customers of lithium ion batteries. From 1998 to 2000, Mr. Yu served in key management positions at the Yangxin Aluminum Alloy Wheel Co., Ltd, an automobile alloy wheel manufacturer. In his role there, he created a comprehensive marketing management and performance appraisal system that greatly enhanced the performance of the company. Mr. Yu graduated from the Huangshi Institute of Technology in Hubei Province in 1998.
Nian Chen (CEO)
Mr. Nian Chen was previously a vice president and co-founder of the Anytone division acquired in December 2009. His responsibilities at Anytone included oversight of R&D, engineering, production and quality control and purchasing. During his tenure, Anytone grew from a start-up to one of the largest ODM manufacturers of backup power systems for portable electronics in China. Prior to joining Anytone, Mr. Chen served for more than five years as vice president of Shenzhen Vogue Industries Co., Ltd., a manufacturer of portable electronics, where he reduced production costs and achieved annual sales closed to RMB$300M while responsible for production, R&D, engineering and purchasing. Mr. Chen received his MBA from The Management Institute of Hubei Province and his junior college degree from Huangshi Institute of Technology.
Junfeng Chen (CFO)
Junfeng Chen was appointed Interim CFO in early August of 2009. Mr. Chen has worked in New Energy Systems Group since 2005. For the past 3 years, Mr. Chen has been the Chief Financial Officer of the Company's wholly-owned subsidiary Shenzhen E'Jenie Science and Technology Co., Ltd. ("Shenzhen E'Jenie). From March 2005 to January 2006, Mr. Chen served as the assistant of financial manager in Shenzhen E'Jenie. Junfeng Chen majored in Accounting and graduated from Wuhan University in China.
Tao Zhou (Vice-President of New Energy Systems Group)
Mr. Zhou graduated from Nobel Columbine School of Management, France, major in E-commerce and MBA. He has a PHD in Management from the Kennedy Western University of America. Currently he serves as the vice president of Shenzhen Mobile Phone Industrial Association. He has extensive experience in management of investment companies, manufacturing companies and high-tech companies, with a strong background in strategy planning and organization.
From June 2005 to April 2008 he served as the vice president of Shenzhen Bangxin Communication Development Limited, responsible for overseas sales of its communication products (south-east Asia and India Market). He helped their sales increase to 11 million Yuan in the Vietnamese market, and successful established 42 distributors. From July 2003 to July 2005, Mr.Zhou was the General Manager of Ningbo St.Louis Inverter Welding Machine Manufacture Company, where the company reached profits of 930,000 Euros and established a stable supply and distribution system. From October 1998 to June 2001, Mr. Zhou served as the General Manager of Shenzhen City Guangnian Industrial Limited with total operating capital of 100 million RMB.
Shuxian Cui (Director)
Shuxian Cui brings extensive accounting-related business experience to the board, having worked with many large Chinese companies. She has a deep understanding of regulatory compliance and financial accounting rules. For nearly two decades, Cui has worked with clients in Shenzhen primarily in areas related to implementing and maintaining corporate accounting standards and business accounting systems. Prior to working in Shenzhen, Cui held senior finance and accounting positions in Jiangxi Province and Hunan Province. She graduated from Jilin University of Finance and Economics (previously Changchun Taxation College) with a degree in accounting.
Li Liu (Director)
Mr. Li Liu brings over 20 years of senior engineering and business experience having successfully built and managed a variety of companies within the technical design space. Since early 2007, Mr. Liu has served as general manager of Shenzhen Everstar Technology Co., Ltd., with responsibility for technical design of a variety of electronic products including DVDs and LCDTVs and similar products that require PCBA manufacturing. Prior to that, he served as technical director of Shenzhen ASA Industry Co., Ltd., the world’s largest DVD loader manufacturer. Mr. Liu has served for over 16 years in various engineering capacities with electronic device manufacturers. He has been awarded a total five separate patents and is the recipient of other scientific and technical honors. Mr. Liu is an MBA graduate of the Economics and Management School of Wuhan University and has a Bachelor degree of Engineering from Southeast University with a Major in Semiconductor Physics and Devices.
Fushun Li (Director)
Mr. Fushun Li, our former CEO, has a background that spans more than 20 years in various executive roles at equipment manufactures and electronic companies in Shenzhen and Guanzhou. Mi Li was the founder of Shenzhen Kai Bi Te Tech. Co., Ltd. and served as its President from January 2004 to April 2009. The company was an electronic components and 3C electronic products manufacturer that reached revenues in excess of 1 billion RMB under his leadership. Prior to that, from January 2001 to December 2003, Mr. Li was the president of Shenzhen Guanxu Electronics Co., Ltd. Mr. Li graduated from Huangshi Institute of Technology with business management major in September 1985.
Elan Yaish (Director)
Elan Yaish currently serves as president of ERS Associates, Ltd. providing business and financial advisory services to publicly traded and privately held companies. He assists clients with strategic planning, M&A, and SEC reporting and compliance as well as stock exchange transitions. Previously, Mr. Yaish served as the CFO of publicly traded Manchester Technologies, Inc. He began his career at Deloitte & Touche where he served as a senior accountant. Mr. Yaish is a licensed CPA with a BS in Accounting from The Yeshiva University and is a member of the AICPA and NYSSCPA.
Battery shells and related components
New Energy produces a wide range of battery shells and related components for leading producers of power sources for wireless phones, PDAs and other devices that have led the mobile digital revolution. Click here to see some of New Energy’s battery shells and related components.
Battery assembly and distribution
Having engaged in the battery business for many years, New Energy has established a strong network among battery companies and gained extensive experience in battery assembly and distribution. The Company distributes a variety of finished battery products. Click here to see some of New Energy’s finished battery products.
New Energy’s Anytone division manufactures and sells mobile power resources based on lithium ion batteries for a full spectrum of products, including mobile phones, notebook computers, digital cameras, MP4s, PMPs, PDAs, solar and digital applications. Many of Anytone’s products generate 4-7 times more power than the original OEM battery’s capacity. The company’s power sources support some of the best known products in the world, including Apple’s iPod family of products. Anytone had 7 practical patents and 23 appearance design patents by the State Intellectual Property Office of the People's Republic of China (SIPO). The company is also awaiting approval for its new innovation patent by SIPO. The company has also obtained CE, FCC, 3C, ROHS, UL and other certifications. Click here to see some of New Energy’s finished battery products.
New Energy’s NewPower division manufacturers lithium ion batteries for cell phones and other portable devices and has a longstanding reputation for its advanced technology and high quality manufacturing capabilities. NewPower’s products range from low end cell phone batteries to state-of-the-art, high capacity batteries. New Energy’s ability to now produce batteries from beginning to end is expected to result in economies of scale and vertical integration that will streamline costs associated with production. Click here to see some of the NewPower division’s battery products.
New Energy Systems Group is a leading manufacturer and distributor of lithium ion batteries. The Company assembles and distributes finished batteries through its sales network and channel partners. The Company also sells high-quality lithium-ion battery shell and cap products to major lithium-ion battery cell manufacturers in China. The Company's products are used to power mobile phones, MP3 players, laptops, digital cameras, PDAs, camera recorders and other consumer electronic digital devices.
Investor Relations Contact:
David K. Waldman or Klea K. Theoharis
Crescendo Communications, LLC
Telephone: (212) 671-1020
New York Office
Tel: (917) 573-0302
A-3 Xinglian Industrial Zone He Hua Ling,
Pingxin Road, Xin Nan, Ping Hu Town Longgang,
David K. Waldman or Klea K. Theoharis
Crescendo Communications, LLC
Telephone: (212) 671-1020
Email: [email protected]