The company announced that its IESPD201E battery designed for hybrid electric vehicles and plug-in hybrid electric vehicles was approved by China's National Quality Control & Inspection Center for Buses.
"China will become the largest market for electric buses within the decade," Hihpower CTO Wenliang Li said in a press release. "This is another significant milestone for Highpower to get positioned for wider national adoption of our batteries in the HEV and PHEV market."
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TheStreet Ratings team rates HIGHPOWER INTERNATIONAL INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HIGHPOWER INTERNATIONAL INC (HPJ) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, poor profit margins and weak operating cash flow."