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Market: OTCBB
Sector: Renewable Energy
EPIC: CSGH
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China Sun Group High-Tech
www.china-sun.cn

China Sun Group High-Tech is engaged in the production and sales of cobaltosic oxide and lithium cobalt oxide, both anode materials used in lithium ion rechargeable batteries in China.

Full China Sun Group High-Tech profile here
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China Sun Group to double lithium iron capacity by year-end

4th Mar 2011, 9:14 am by Deborah Sterescu
As the demand for hybrid and electric vehicles grow, China Sun Group plans to boost production capacity of lithium iron phosphate - a key component in lithium ion batteries As the demand for hybrid and electric vehicles grow, China Sun Group plans to boost production capacity of lithium iron phosphate - a key component in lithium ion batteries

China Sun Group High-Tech Co. (OTCBB:CSGH),  a company that produces material used for lithium ion batteries, re-iterated its outlook for fiscal 2011 on Friday, with plans to increase  production capacity by year-end.

The company is an established producer of cobaltosic oxide, used to make lithium ion batteries for devices such as cellphones and laptop computers. China Sun began production of a new product, lithium iron phosphate (LIP), in October 2009, as the material is used in batteries for hybrid and electric vehicles, an initiative that is building up steam in China.

The materials producer increased its production capacity of LIP to the current level of 500 tons per year, and it plans to boost this number even further - to 1000 tons this coming December.

China Sun has received one major contract to date for LIP from Henan Huanyu Sai Er New Energy Technology, a lithium ion battery manufacturer, and seven smaller contracts from additional customers.

"Looking back for the past three quarters of fiscal year 2011, the new product - LIP has brought the company a greater profit and contribution, and we are very encouraged by the prospects for our business, given our leading market positions, technological resources and levels of customer demand," said CEO Guosheng Fu.

For the fiscal year ending May 31, 2011, the company again said ti expects full year revenues in the range of $56 to $58 million, and adjusted net income in between $10 and $11 million.

China Sun is hoping to eventually expand its LIP ouput capacity to 4,000 tons per year, as well as launch its own electric-car batteries by 2013.

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