SHENZHEN, China, Oct. 31, 2011 /PRNewswire-Asia-FirstCall/ -- New Energy Systems Group (NYSE Amex: NEWN) ("New Energy" or the "Company"), a vertically-integrated original design manufacturer and distributor of consumer branded backup power systems, lithium ion batteries, battery parts and solar panels, today announced its participation at the 2011 Hong Kong Electronics Fair held October 12-16, where the Company featured recently launched consumer products and debuted its concept "Power Cube" product series. The Power Cube series of products are designed to provide backup and charging power for electronic devices ranging from smartphones to Tablet PCs. With its simple and elegant design, the three sizes of Power Cube (M430, M800, M1200) will power a Tablet PC for up to 20 hours, or recharge portable devices up to 8 times without the need to be plugged in to a power source. Two of this series, M430 and M800, are expected to be launched during the first quarter of 2012, and consumers will be able to purchase the Power Cube for a suggested retail price ranging from RMB $290(USD$45.60) to RMB $690(USD$108.50) depending on capacity. The Hong Kong Electronics Fair was a unique opportunity to promote and demonstrate the Company's full line of consumer products, including its latest breakthrough innovations in mobile batteries, the Anytone® Pandora Power Case, Anytone® Smart Cover Power I, and Anytone®'s APC-M700 to over 100 international attendees. The Fair attracted over 3,900 exhibitors including producers of multimedia, digital imaging, home appliances, communications and electronic components. "The Hong Kong Electronics Fair was an ideal venue to showcase our new products, and we received excellent responses and strong interest from attendees," said Chairman and Chief Executive Officer of New Energy Systems Group Jack Yu. "We are excited to move forward next year on production of our concept Power Cube series, which received strongly positive feedback from prospective customers."
Shares of New Energy Systems Group (AMEX:NEWN) have taken a tremendous swing upward. The stock is trading at $1.69 as of 10:06 a.m. ET, 24.3% above Tuesday's closing price of $1.36. Volume is at 81,960, 0.2 times the daily average of 457,800.
Shares of New Energy Systems Group (AMEX:NEWN) were gapping down Tuesday morning with an open price 10.9% lower than Monday's closing price. The stock closed at $3.40 yesterday and opened today's trading at $3.03.
Shares of New Energy Systems Group (AMEX:NEWN) were gapping down Monday morning with an open price 10% lower than Friday's closing price. The stock closed at $2.60 yesterday and opened today's trading at $2.34.