Highpower International, Inc. manufactures and trades nickel metal hydride (Ni-MH) rechargeable batteries for portable electronic devices. Subsidiaries Shenzhen Highpower Technology Co., Ltd: This company is engaged in manufacturing and marketing of batteries. Springpower Technology (Shenzhen) Co., Ltd: Springpower Technology (Shenzhen) Co., Ltd is engaged in researching and manufacturing of batteries. Ganzhou Highpower Technology Co., Ltd: This company is engaged in processing, marketing and researching battery materials. Icon Energy System Co., Ltd.: Icon Energy System Co., Ltd. engages in research and production of advanced battery packs and systems. Huizhou Highpower Technology Co., Ltd: This company is engaged in manufacturing and marketing of batteries. Products The company’s Ni-MH rechargeable batteries are developed to meet the requirement for higher levels of energy demanded by electronic products. Its Ni-MH rechargeable batteries offer increased capacity and higher energy density over similarly sized standard Ni-Cad rechargeable batteries. The company’s Ni-MH rechargeable batteries are available in both cylindrical and prismatic shapes. The company produces Li-ion batteries and Li-polymer batteries with different models and specifications. It produces an average of 2,500,000 lithium battery units per month. The company produces a line of batteries falling into two main categories: Consumer Batteries – Relative to ordinary Ni-Cad rechargeable batteries, as well as their non-rechargeable counterparts, its Ni-MH and lithium batteries offer higher power capacity allowing for longer working time and shortened charging time during equivalent working periods. The company produces A, AA and AAA sized batteries in blister packing, as well as chargers and battery packs. Industrial Batteries – These batteries are designed for electric bikes, power tools and electric toys. They are specifically designed for high-drain discharge applications possessing low internal resistance, more power, and longer discharging time. The company also recycles scrap battery materials through outsourcing and resells the recycled materials to some of its customers. Strategy The company intends to implement the following strategies: continue to pursue cost-effective opportunities; aggressively pursue distribution channels; expand existing and new product offerings; and enhance marketing efforts to increase brand awareness. Sales and Marketing The company targets sales of its rechargeable batteries and charging systems through original equipment manufacturers (OEMs), as well as distributors and resellers focused on its target markets. The company has a sales network and marketing staff in China and has one branch office in Hong Kong. Strategic Partnership The company has a strategic research and development partnership with Freudenberg Nonwovens. Freudenberg Nonwovens utilizes its research and development center research facilities in China to test their various separators. Research and Development As of December 31, 2013, the company expended $5,711,269 on research and development. Suppliers The company’s suppliers include Xiamen Tungsten Co. Ltd; Jinchuan Group; Baotou Santoku Battery Materials Co. Ltd; and Tianjin B&M Science & Technology, Ltd. Customers As of December 31, 2013, Energizer Battery Manufacturing, Inc. accounted for 10.8% of the company’s net sales. Seasonality The first quarter of each year tends to be the company’s slow season due to the Chinese New Year holidays. The company’s factories and operations usually shut down for one-two weeks during this time, resulting in lower sales during the first quarter. Intellectual Property The company holds 117 patents in China and has 50 patent applications pending in China. The company also has two registered trademarks in China, which include ‘HFR’ and its Chinese equivalent. Environmental Regulations The major environmental regulations applicable to the company includes the PRC Environmental Protection Law, the PRC Law on the Prevention and Control of Water Pollution and its Implementation Rules, the PRC Law on the Prevention and Control of Air Pollution and its Implementation Rules, the PRC Law on the Prevention and Control of Solid Waste Pollution, and the PRC Law on the Prevention and Control of Noise Pollution. Significant Events In September 2014, Energous Corporation announced a joint development agreement (JDA) with Highpower International, Inc. Energous and Highpower will jointly develop reference designs for WattUp-enabled Highpower batteries and various other fully integrated solutions for consumers. Competition The company’s primary competitors in the Ni-MH battery market or other similar competing rechargeable battery products include SANYO Electric Co., Ltd. Global; Matsushita Industrial Co., Ltd. (Panasonic); BYD Company Ltd.; GPI International, Ltd.; and GS Yuasa Corporation. The company’s primary competitors in the lithium battery market or other similar competing rechargeable battery products include Desay Corp.; Coslight Group; Tianjin Lishen Battery Co. Ltd.; and Amperex Technology Limited. History Highpower International, Inc. was founded in 2001. The company was incorporated in the state of Delaware in 2006. It was formerly known as Hong Kong Highpower Technology, Inc. and changed its name to Highpower International, Inc. in 2010.
highpower international inc
(HPJ:Consolidated Issue listed on NASDAQ Global Market)
68 Xinxia Road
Phone: 86 755 8968 6533
Fax: 86 755 8968 6916www.highpowertech.com
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