Sunrise New Energy (NASDAQ:EPOW) Co., Ltd. (formerly known as Global Internet of People , Inc.) has announced the convening of its Annual General Meeting (AGM) of shareholders. The company, which operates within the miscellaneous electrical machinery, equipment, and supplies industry and currently trades at $0.89 per share with a market capitalization of $23.27 million, disclosed the upcoming meeting in a recent filing with the U.S. Securities and Exchange Commission.
According to InvestingPro analysis, the company's overall financial health is rated as WEAK, with several concerning indicators that shareholders may want to consider.
The AGM is scheduled to take place in the company's home base in the People's Republic of China, at the Zibo Science and Technology Industrial Entrepreneurship Park, Zhangdian District, Zibo City, Shandong Province. Shareholders of record will receive notice of the meeting and a proxy statement, dated today, Monday, as well as a form of proxy card to enable their participation and voting at the meeting. The company's stock has shown mixed performance, with a 22.44% gain over the past six months despite ongoing operational challenges. InvestingPro subscribers have access to 10 additional key insights about the company's financial position and market performance.
The content of the notice and proxy statement, as well as the form of proxy card, will be mailed to shareholders in connection with the AGM. This documentation is integral for shareholders to make informed decisions on matters that require their vote.
Sunrise New Energy Co., Ltd., identified by the Central Index Key (CIK) number 0001780731, is listed under the standard industrial classification code 3690. The company's business and mailing address is R703 W R&D BLDG, Zibo Science & Tech Park, No. 69 Sanying Road, Zhangdian District, Zibo City, Shandong Province, with a business phone number of 86-01082967728.
This announcement follows the company's adherence to the SEC Act of 1934, which requires foreign private issuers like Sunrise New Energy Co., Ltd. to provide regular updates to the Commission. The company has confirmed that it will file annual reports under the cover of Form 20-F. InvestingPro data reveals concerning financial metrics, including negative gross profit margins and potential difficulties with debt obligations. These factors contribute to the company's weak financial health score, details of which are available to InvestingPro subscribers.
The CEO of Sunrise New Energy Co., Ltd., Haiping Hu, has signed off on the SEC filing, ensuring compliance with the regulatory requirements set forth by the U.S. Securities and Exchange Commission.
This information is based on a press release statement and provides shareholders with the necessary details to engage in the upcoming AGM.
In other recent news, Sunrise New Energy Co., Ltd. has been awarded a $1.04 million technology fund by the Guizhou Provincial Department of Science and Technology for its project on silicon-carbon anode materials. The project, which is expected to enhance solid-state battery technology, received approval following expert evaluations and has the potential to lead the global battery technology sector.
Additionally, the company has seen a surge in the sales of its lithium-ion battery anode materials, with a volume reaching 10,400 tons, a 132% rise from the same period the previous year. To boost its liquidity and expedite order fulfillment, Sunrise New Energy also secured a $13.76 million loan from China Construction Bank (OTC:CICHF).
The company has further announced the unveiling of a new anode material for solid-state batteries, a significant advancement in electric vehicle battery technology. A noteworthy delivery of 5,800 tons of energy storage material has been made to Xiamen HiTHIUM Energy Storage Technology Co., Ltd., part of a larger 25,000-ton order.
Sunrise New Energy's Guizhou-based subsidiary has been selected for the "2024 Guizhou Provincial Key Projects for Promoting the Utilization of Intellectual Property" funding list, recognizing its patented "Preparation Method of Lithium-Ion Battery Anode Material". These recent developments underscore the company's ongoing commitment to innovation and transparency in the energy sector.
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