China Sun Group High-Tech Co.
China Sun Group High-Tech Co., through its wholly-owned subsidiary Dalian Xinyang High-Tech Development Co. Ltd., has the second largest cobalt series production capacity in China. Through its research and development division, DLX owns a proprietary series of nanometer technologies that supply state-of-the-art components for advanced lithium ion batteries. Leveraging its state-of-the-art technology, high-quality product line and scalable production capacity, the Company plans to create a fully integrated supply chain from the primary manufacturing of cobalt ore to finished products, including lithium ion batteries.
See more information about China Sun Group High-Tech Co.
China Sun Group posts 46pct rise in revenue
China Sun Group High-Tech Co., posted record revenue of US$37m for the twelve months ended May 31, 2009, representing a 46 percent increase on the same period in 2008.
Since the company's wholly-owned subsidiary, Dalian Xinyang High-Tech Development Co. Ltd ("DLX"), produced its first batch of lithium iron phosphate (li-ion) batteries in April 2009 it has signed contracts with several key customers in China, all in various stages of testing the product.
Net income for the fiscal year ended May 31, 2009 was US$8.6m, an increase of 27 percent year-on-year, mainly attributed to new sales, channel partnerships and increased sales to new customers.
Earnings per diluted share were $0.16 in fiscal 2009 compared to earnings per diluted share of $0.13 in fiscal 2008, based on a weighted average number of shares outstanding totaling 53,422,971.
Bin Wang, CEO of China Sun Group, said, "Our research and development efforts have enabled us to reduce our costs and increase our productivity, while introducing new product innovations like the alternative battery component material, lithium iron phosphate."
