ZIBO, Shandong, China, August 15, 2022 (GLOBE NEWSWIRE) — Sunrise New Energy Co.,Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: SDH), today announced that effective August 10, 2022, the Company will change its name from Global Internet of the People, Inc. in Sunrise New Energy Co.,Ltd. has changed. In connection with the name change, the Company’s common stock is expected to begin trading immediately on the NASDAQ Capital Market under the new ticker symbol “EPOW” from the opening of trading on August 15, 2022.
The name was changed to “Sunrise New Energy” to reflect the company’s business transition into the manufacture and sale of graphite anodes for lithium-ion EV batteries. There is a multi-billion dollar market for graphite anodes, and it’s already critically scarce, despite the fact that only a small percentage of the global automotive fleet has switched to electric vehicles. Each new electric vehicle requires an additional 60 kg of graphite anode, making this a huge growth market for the foreseeable future.
“Just as a sunrise marks the beginning of a new day, the Sunrise New Energy name marks an exciting new phase for our company,” said Sunrise New Energy Chairman Hu. “We are in the process of building a world-class graphite anode production facility in Guizhou Province, China and have received tens of millions in advance orders for our products.”
“Investors who are new to our story are probably unfamiliar with my past successes in the graphite anode business,” continued Chairman Mr. Haiping Hu. “I founded the first lithium battery anode manufacturer, Shanshan Technology, in 1999 and grew this business from zero to $3 billion in sales. It’s important to note that the success came before the big growth driver of electric cars came along. Key team members who helped me build Shanshan into the world leader in graphite anodes have returned to Sunrise from their later ventures. I am confident that we will once again build a large and successful graphite anode business while delivering significant returns for shareholders on their investments.”
About Sunrise New Energy Co., Ltd
Sunrise New Energy Co.,Ltd. headquartered in Zibo, Shandong Province, China, is engaged in the manufacture and sale of graphite anode material for electric vehicles and other lithium-ion batteries through its joint venture. The company is building a 138,000 m2 Manufacturing facility in Guizhou Province, China. The facility will be powered by low-cost renewable electricity, which the Company believes will make Sunrise New Energy the most cost-effective and environmentally friendly producer of graphite anode material.
Certain statements in this press release regarding the Company’s future expectations, plans and prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies and future events and anticipated results , assumptions and other statements of fact that did not occur. All words related to “can” “Will”, “intend”, “should”, “believe”, “expect”, “expect”, “estimate”, “estimate” or similar non-factual words are forward-looking statements. Actual results could differ materially from historical results or those projected in these forward-looking statements as a result of various factors. These factors include, but are not limited to, the company’s strategic goals, 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 tenders, relevant policies and regulations, the ebb and flow of China’s macroeconomic conditions, the international market conditions served by the Company and the associated risks and assumptions disclosed in the Prospectus. In light of the above and other related reasons, we advise investors not to place undue reliance on these forward-looking statements, and we urge investors to visit the SEC’s website to consult the company’s relevant documents for other factors affecting the could affect the Company’s future results of operations. The Company undertakes no obligation to publicly publicly release any revisions to these forward-looking statements as a result of specific events or reasons subsequent to the issuance of these documents.
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