Sunrise Achieves Key Milestone with "Specialized, Refined, Unique, and Innovative SME" Designation

ZIBO, China, June 18, 2024 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that it has been officially recognized as one of the first batch of "Specialized, Refined, Unique, and Innovative Small and Medium Enterprises" for 2024 by the Guizhou Provincial Department of Industry and Information Technology.

Sunrise New Energy has established itself as a leader in the field by emphasizing technological innovation as its core driving force. The company is committed to providing customers with high-performance, low-energy consumption, and stable-quality lithium battery anode materials. In just two years, Sunrise New Energy has significantly increased its production and sales volumes, securing its place among the leading anode material companies in China.

The designation of "Specialized, Refined, Unique, and Innovative SME" is part of an important initiative by the Guizhou Provincial Department of Industry and Information Technology to promote high-quality development among enterprises. Sunrise New Energy's inclusion in this list not only highlights its leading position and competitive edge in the new energy materials sector but also lays a solid foundation for its future development. The Company has expressed its commitment to increasing investment in research and development, enhancing technological innovation, and continuously improving product quality to meet the diverse needs of its customers.

Additionally, Sunrise New Energy plans to actively expand its domestic and international markets and strengthen collaboration with upstream and downstream enterprises to promote the coordinated development of the new energy industry chain.

“We look forward to Sunrise New Energy continuing to leverage its strengths in technological innovation and market expansion, contributing to the sustainable and healthy development of the new energy industry.” commented Chairman, Mr. Haiping Hu.

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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