highpower international inc (HPJ) Key Developments
Highpower International Completes Delivery of its First Trial Order from Costco for Rechargeable Batteries for Solar Lighting
Jun 18 14
Highpower International, Inc. announced that the company has delivered two containers of its Ni-MH rechargeable batteries to Costco as an initial trial order that will be used as power sources for general solar light products. Highpower manufactured the products for one of its branded customers with specific power requirements to power a wide variety of solar light products. The initial order is expected to be sold from Costco to customers directly. Highpower's nickel-metal hydride rechargeable batteries are ideal replacements for the traditional nickel-cadmium rechargeable batteries in the solar lighting market because cadmium is a toxic heavy metal and is known to be damaging to the environment.
Highpower International, Inc. Presents at Ardour Capital Investments Energy Technology & Sustainability Conference, Jun-05-2014 01:00 PM
May 29 14
Highpower International, Inc. Presents at Ardour Capital Investments Energy Technology & Sustainability Conference, Jun-05-2014 01:00 PM. Venue: Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022-4834, United States.
Highpower International, Inc. Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2014; Reaffirms Earnings Guidance for the Year 2014
May 12 14
Highpower International, Inc. announced unaudited consolidated financial results for the first quarter ended March 31, 2014. For the quarter, the company reported net sales of $29,160,314, a year-over-year increase of 19.5% compared with $24,399,372 for the first quarter ended March 31, 2013. The increase in sales for the first quarter was primarily due to an increase in net sales of the company’s lithium batteries and a $0.4 million increase in net sales of the company’s Ni-MH batteries. Net loss attributable to the company was $935,149, or $0.07 per diluted share against net loss attributable to the company of $608,880 or $0.04 per diluted share a year ago. The increase in net loss attributable to the company is primarily attributable to the $0.4 million increase in non-cash share-based compensation expense between periods, and the $0.7 million increase in R&D spending on future products. Loss from operations was $1,024,135 against $470,080 a year ago. Loss before taxes was $1,078,096 against $590,197 a year ago. Net cash flows provided by operating activities were $9,309,665 against $4,536,328 a year ago. Acquisition of plant and equipment was $2,403,047 against $3,025,300 a year ago.
The company is reaffirming 2014 guidance of revenues to range between $150 million to $170 million and net income in the range of $2.5 million to $4.0 million.
Highpower International, Inc. Presents at 15th Annual B. Riley & Co. Investor Conference, May-19-2014 04:30 PM
May 12 14
Highpower International, Inc. Presents at 15th Annual B. Riley & Co. Investor Conference, May-19-2014 04:30 PM. Venue: Loews Santa Monica Beach Hotel, 1700 Ocean Avenue, Santa Monica, CA 90401, United States.
Highpower International, Inc. Receives First Testing Order for its New Energy Storage System Products
May 8 14
Highpower International, Inc. announced that the company has received an initial testing order for its 10KWH lithium-based energy storage system following the recent rollout of company's first series of commercial ready off-grid energy storage system products. The 10KWH energy storage system is comprised of four lithium battery modules, a 5KW solar inverter, and a solar controller, coupled with built-in wireless data transmission, remote monitoring, and comprehensive protective features for safety.