Sunrise Announces Guizhou Province Governor Li Bingjun's Visit to the Sunrise Factory, Highlighting Sunrise's Industry Leadership

ZIBO, China, April 16, 2024 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that Guizhou Province Governor Li Bingjun, accompanied by a delegation of government officials, conducted an official visit to the Sunrise’s plant on April 11, symbolizing the Company's pivotal role within the industry. During the visit, Mr. Haiping Hu, Chairman of Sunrise, presented an overview of the Company's production, technological advancements, energy consumption, and environmental protection efforts. Emphasizing innovation-driven strategies, Mr. Hu highlighted the Company's commitment to reducing costs, enhancing competitiveness, and strengthening meticulous management practices. Governor Li praised Sunrise and its representation of Guizhou's new energy power battery and materials industry. He stressed the importance of optimizing government industrial fund operations to support key industries and enterprises. Furthermore, he emphasized the need to promote coordination among upstream and downstream sectors of the industrial chain to leverage cluster effects effectively.

Under the leadership of founder Mr. Haiping Hu, a pioneer in China's lithium battery materials industry, Sunrise has repeatedly set industry records. The Company's elite teams have consistently pursued innovation with 61 patent applications filed domestically and internationally, among which 27 patents have been granted. Sunrise has successfully developed various new anode materials in areas such as artificial graphite, natural graphite, composite graphite, soft carbon, hard carbon, and silicon carbon. Leveraging advanced equipment, the Company continues to develop new materials, processes, and technologies with independent intellectual property rights.

"We are honored to be chosen as the industry representative enterprise to host the visit by Guizhou Province leaders," remarked Mr. Haiping Hu. “ Sunrise's relentless pursuit of innovation has positioned it as a dark horse enterprise, winning numerous bids from industry giants. The technological innovation has enabled us to reduce energy consumption, save costs, and enhance competitiveness in the promising industry."

About Sunrise New Energy Co., Ltd

Headquartered in Zibo, Shandong Province, China, Sunrise New Energy Co., Ltd., through its joint venture, is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries. The Company's joint venture has completed the construction of a manufacturing facility with a production capacity of 50,000 tons in Guizhou Province, China. The plant runs on inexpensive electricity from renewable sources, which helps to make Sunrise New Energy a low-cost and low–environmental-impact producer of graphite anode material. Mr. Haiping Hu, the founder and CEO of the Company, is a major pioneer for the graphite anode industry in China starting from 1999. The Company’s management team is also composed of experts with years of experiences and strong track-records of success in the graphite anode industry. In addition, the Company also operates a knowledge sharing platform in China. For further information, please visit the Company’s website at . The Company maintains a Twitter account (@sunrisenewener1) to keep investors up to date on the latest development of the Company.

Forward-looking statement

Certain statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements as defined by Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions and any other factual statements that have not occurred. Any words that refer to "may", "will", "want", "should", "believe", "expect", "expect", "estimate", "estimate" or similar non-factual words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or the contents expressed in these forward-looking statements. These factors include, but are not limited to, the company's strategic objectives, the company's future plans, market demand and user acceptance of the company's products or services, technological updates, economic trends, the company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, the ups and downs of China's macroeconomic conditions, the relevant international market conditions, and other related risks and assumptions disclosed in the Company’s Annual Report on Form 20-F published on the SEC’s website. In view of the above and other related reasons, we urge investors to visit the SEC’s website and consider other factors that may affect the Company's future operating results. The Company is under no obligation to make public amendments to changes in these forward-looking statements unless required by law.

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