Highpower Appoints New Independent Registered Public Accounting Firm
New York, USA & Shenzhen, China – October 6, 2011 – Highpower International, Inc. (NasdaqGM: HPJ), a developer, manufacturer and marketer of nickel-metal hydride (Ni-MH) and lithium batteries and related products, today announced that it has engaged Marcum Bernstein & Pinchuk (MarcumBP) as the Company’s new independent registered public accounting firm replacing Highpower International’s previous independent auditor, Dominic K.F. Chan & Co.
The change in the independent registered public accounting firm is effective as of September 30, 2011. There were no disagreements between Highpower International and Dominic K.F. Chan & Co. on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.
“We believe MarcumBP has the strong local resources and auditing expertise required to ensure that our financial reports continue to be prepared with the highest level of accuracy and integrity, and they possess the scale required to accommodate our auditing needs as we continue to mature as a larger public company,” said Mr. George Pan, Chairman & CEO of Highpower International. “At Highpower, we are committed to providing our shareholders with the highest level of transparency, financial reporting standards, and corporate governance.”
About Marcum Bernstein & Pinchuk LLP
Marcum Bernstein & Pinchuk (MarcumBP), a PCAOB-registered firm, provides a full range of audit and assurance, tax and transaction advisory services for clients in a variety of industries throughout the world. With offices in New York, Beijing, Hong Kong, Guangzhou, and Hangzhou, MarcumBP provides the expertise, cultural understanding and support needed to efficiently serve and advise our clients. MarcumBP currently provides services to over 30 clients in the China market.
About Marcum LLP
Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation. Ranked among the top 15 firms in the nation, Marcum offers the resources of more than 1,100 professionals, including more than 150 partners, in 23 offices throughout New York, New Jersey, Massachusetts, Connecticut, Pennsylvania, California, Florida, Grand Cayman, China and Hong Kong. The Firm's presence runs deep with full service offices strategically located in major business markets. Marcum is a member of the Marcum Group, the gateway to a group of organizations that provide a variety of professional services including accounting and advisory, technology solutions, recruiting, and wealth management. These organizations include Marcum LLP; MarcumStonefield, a division of Marcum LLP; Marcum Technology LLC ; MarcumBuchanan Associates LLC; Marcum Search LLC; Marcum Financial Services LLC; Marcum Cronus Partners LLC; and Marcum Bernstein and Pinchuk LLP.
About Highpower International, Inc.
Highpower International, Inc. develops, manufactures and markets powerful, efficient, and environmental rechargeable nickel-metal hydride (Ni-MH) and lithium-ion (Li-ion) batteries and related products for use in a variety of devices and equipment including wireless communications, electronics, lighting, backup power, electric tools, and transportation, etc. Highpower International's products are distributed worldwide to markets in the Americas, Europe, China, and Southeast Asia. For more information, visit http://www.highpowertech.com
To be added to the Company’s email distribution for future news releases, please send your request to HPJ@finprofiles.com . Company news can also be found at http://www.highpowertech.com/InvestorNews.aspx?type=FinancialRelease
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995 that are not historical facts. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and the Company's future performance, operations and products. Such statements involve known and unknown risks, uncertainties and other factors that could cause the Company's actual results to differ materially from the results expressed or implied by such statements. For a discussion of these and other risks and uncertainties see "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's public filings with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.
Highpower International, Inc.
Vickie Hawes
Corporate Communications Manager
IR@highpowertech.com
Financial Profiles, Inc.
Tricia Ross
+1-916-939-7285
HPJ@finprofiles.com