SHENZHEN, China, Nov. 1, 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 that its 2011 Annual General Meeting of Shareholders will be held at 10:00 A.M., local time, on November 28th, 2011, at the Wuzhou Guest House, No. 6001, Shenzhen Road, Shenzhen, China 518034. Details about the meeting, including the agenda and proposals to be presented, will be included in the notice of meeting and related proxy materials, which the Company expects to distribute to its shareholders in November 2011.The three proposals include 1) The election of director nominees; 2) To ratify and approve 2011 Equity Incentive Plan; 3) to ratify the appointment of Goldman Kurland Mohidin, LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2011. The proxy documents will also be posted at http://www.newenergysystemsgroup.com. About New Energy Systems Group New Energy Systems Group is a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems for leading manufacturers of mobile phones, laptops, digital cameras, MP3s and a variety of other portable electronics. The Company's end-user consumer products are sold under the Anytone® brand in China while it's commercial and OEM batteries and battery components are sold under New Power and E'Jenie. The fast pace of new mobile device introductions in China combined with a growing middle class make it fertile ground for New Energy's end-user consumer products, as well as its high powered, light weight lithium ion batteries. In addition to historically strong organic growth, New Energy is expected to benefit from economies of scale, broader distribution and higher profit margins in 2011. Additional information about the company is available at: www.newenergysystemsgroup.com. Forward Looking Statements This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements. For more information, please contact:COMPANYNew Energy Systems Group Ken Lin, VP of Investor RelationsTel: +1-917-573-0302Email: email@example.com INVESTOR RELATIONSMZ John Mattio, SVPTel: US +1-212-301-7130Email: firstname.lastname@example.org SOURCE New Energy Systems Group
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.