NEW YORK, NY and BEIJING, CHINA --(Marketwired - November 20, 2014) - Advanced Battery Technologies, Inc. (
Mr. Zhiguo Fu, Chairman and CEO of Advanced Battery Technologies, commented, "We believe ABAT's share price does not fairly reflect our company's intrinsic value. This planned share repurchase program signals a high level of confidence in ABAT's growth prospects as well as in our continued ability to consistently generate solid operating profit and cash flow. ABAT is focused on enhancing shareholder value and we will continue to work hard to drive the company's future growth."
About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc. (ABAT), with executive office in Beijing, China is committed to the clean energy industry. With three manufacturing subsidiaries in Harbin, Wuxi and Dongguan, China, ABAT engages in the design, manufacture, marketing and distribution of rechargeable polymer lithium-ion (PLI) batteries and related Light Electric Vehicles (LEV's) products. Additional information about the Company is available at: http://abat.sys145.pkulab.com/a/english/
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, risks that the demand for the Company's electric vehicles may be limited. We undertake no obligation to revise or update publicly any forward-looking statements.
Contact: Crescendo Communications, LLC Tel: +1-212-671-1020 e-mail: abat@crescendo-ir.com