Highpower International Inc (NASDAQ: HPJ) looked for great things in equity trade Thursday, after some sparkling second-quarter numbers. The company with headquarters in China, but U.S. offices in San Diego, reported preliminary Q2 net income of $3.5 million to $4.1 million, and sales of $50 million to $52 million.
CEO George Pan commented Wednesday in a statement issued by the company, “We are very pleased to have continued our growth momentum from the first quarter of 2017 to deliver solid top-line and bottom-line preliminary results for the second quarter of 2017. Driven by market demand for energy storage systems, smart devices, and other high end digital products, our lithium ion batteries and battery solutions businesses continued to accelerate.
“Our net income also increased at a rapid pace fueled by economies of scale and efficiency improvements. We are also pleased with our progress in making strategic investments in critical business areas and developing partnerships with leading industry names. We remain optimistic about the remaining quarters of 2017 and look forward to providing additional updates when we report audited second quarter results in August."
Highpower was founded in 2001 and produces high-quality Nickel-Metal Hydride (Ni-MH) and lithium-based rechargeable batteries used in a wide range of applications such as electric buses, bikes, energy storage systems, power tools, medical equipment, digital and electronic devices, personal care products, and lighting, etc. Highpower's target customers are Fortune 500 companies and top 20 companies in each vertical segment
The tidings sent the company’s stock leaping 50 cents, or 2.2%, to $4.60.
