Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), announced today that its subsidiary, Sunrise (Guizhou) New Energy Materials Co., Ltd. has announced its application for the prestigious China Patent Award, which is regarded as the foremost recognition in the field of intellectual property rights in China. Established in 1989, the China Patent Award is jointly organized by the State Intellectual Property Office of China and the World Intellectual Property Organization, with the aim of promoting and commending patented inventions and creations.

Sunrise has submitted its invention patent titled "Method for the Preparation of Negative Electrode Materials for Lithium-ion Batteries" (ZL202210400775.2). The patent discloses a technique wherein porous lithium titanate is obtained by double-coating the core with nitrogen and fluorine atoms, which is further coated on the surface of the core. This method significantly enhances the initial efficiency and power performance of graphite composites. Notably, the technology boasts an energy consumption in the range of only 30% compared to existing industry standards, surpassing the performance of similar international products by more than 50%. Overall, this innovation has achieved a leading-edge position on the global stage. The patent has already been granted in both China and Japan.

As the sole enterprise from Guizhou province to apply for the China Patent Award, Sunrise's patent has received recommendations from three academicians of the Chinese Academy of Engineering, further highlighting its exceptional value and significance.

"We are honored to be recommended by multiple academicians and participate in the highest-level patent evaluation in China. Sunrise is a research-driven high-tech company at the forefront of the global battery anode materials industry. We have applied for domestic and international patents for breakthrough technologies in graphite, silicon-carbon, and hard carbon," remarked Mr. Hu Haiping, Chairman of the Company. "Our technological leadership enables us to establish exclusive partnerships with world-renowned companies in the production of electric vehicle and energy storage batteries."

Correction to Previous News Release: "EPOW's CEO Purchased 245,000 Shares of the Company's Ordinary Shares"

In a correction to the previously issued news release dated January 08, 2024 over GlobeNewswire, titled” "EPOW's CEO Purchased 245,000 Shares of the Company's Ordinary Shares", it should be noted that "Mr. Hu now beneficially owns a total of 8,075,533 ordinary shares of the Company," instead of the previously mentioned 7,107,933 ordinary shares.

About Sunrise New Energy Co., Ltd

Headquartered in Zibo, Shandong Province, China, Sunrise New Energy Co., Ltd., through its joint venture, is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries. The Company’s joint venture is constructing a 260,543 ㎡manufacturing plant in Guizhou Province, China. The plant runs on inexpensive electricity from renewable sources, which helps to make Sunrise New Energy a low-cost and low–environmental-impact producer of graphite anode material. Mr. Haiping Hu, the founder and CEO of the Company, has been a  pioneer for the graphite anode industry in China since 1999. The Company’s management team is composed of experts with years of experience and strong track records of success in the graphite anode industry. In addition, the Company  operates a knowledge sharing platform in China. For further information, please visit the Company’s website at www.sunrisenewenergy.com. The Company also maintains a Twitter account (@sunrisenewener1) to keep investors up to date on the latest developments in the Company.

Forward-looking statement

Certain statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements as defined by Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions and any other factual statements that have not occurred. Any words that refer to "may", "will", "want", "should", "believe", "expect", "expect", "estimate", "estimate" or similar non-factual words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or the contents expressed in these forward-looking statements. These factors include, but are not limited to, the company's strategic objectives, the company's future plans, market demand and user acceptance of the company's products or services, technological updates, economic trends, the company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, the ups and downs of China's macroeconomic conditions, the relevant international market conditions, and other related risks and assumptions.   Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's annual report and other filings with the U.S. Securities and Exchange Commission.  The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

For more information, please contact:

The Company: IR Department Email: IR@sunrisenewenergy.com Phone: +86 4009919228

Sunrise New Energy (NASDAQ:EPOW)
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