QualityStocks.net News – China Sun Group High-Tech Co. (CSGH.OB) Announces Q3 Results, Progress of Subsidiary

We would like to highlight China Sun Group High-Tech Co. (OTCBB: CSGH). The company produces anode materials used in lithium ion batteries. Through its majority-owned operating subsidiary, Da Lian Xin Yang High-Tech Development Co. Ltd ("DLX"), the Company primarily produces cobaltosic oxide and lithium cobalt oxide. According to the China Battery Industry Association, DLX has the second largest cobalt series production capacity in the People's Republic of China. Through its research and development division, DLX owns a proprietary series of nanometer technologies that supply state-of-the-art components for advanced lithium ion batteries.

In the Company’s news today,

China Sun Group High-Tech Co. announced its third-quarter results for the fiscal year 2008, reporting a 167 percent increase in net revenue. Complete details of the company’s three-month period ended Feb. 29, 2008 are available in its quarterly report on the Form 10-QSB filed with the Securities and Exchange Commission. Net revenue for the third quarter grew to $7.2 million, and GAAP net income increased 1016 percent to $1.9 million.

“Our sterling performance in the third quarter demonstrates our ability to increase sales quarter-over-quarter and achieve profitable growth. Our revenue growth and substantial increase in net income are based on a number of factors, including increased customer demand for our products, expanded production capacity and stricter cost control,” Bin Wang, the CEO of China Sun Group stated in a press release.

Through its majority-owned subsidiary, Da Lian Xin Yang High-Tech Development Co. Ltd (DLX), China Sun Group has the second-largest cobalt series production capacity in the People’s Republic of China.

“We started batch production for lithium cobalt oxide in February 2008 and expect to secure our first order and begin production in May of 2008. Based on our current and projected customer base and product lines, we are on track to more than double our revenue and net income for the full fiscal year 2008 compared to fiscal 2007,” stated Wang.

Wang said DLX has been given approval to produce a new, less expensive material that will act as a substitute for anode material. This ternary material also has a longer shelf life than lithium cobalt oxide.

“This positions DLX to introduce this next-generation battery component for the production of small lithium ion batteries, used in laptops, cell phones and MP3 players, and also manganese lithium large-capacity batteries, used in pure and electric hybrid vehicles. The versatility of this unique material positions China Sun Group to serve multiple commodity markets in the near future,” stated Wang.

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