DALLAS, April 7, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Advanced Battery Technologies Inc. (Nasdaq:ABAT). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at:
Advanced Battery Technologies Inc. (ABAT) is a developer, manufacturer and distributor of rechargeable polymer lithium-ion (PLI) batteries. The Company's products include rechargeable PLI batteries for electric automobiles, motorcycles, mine-use lamps, notebook computers, walkie-talkies and other electronic devices. ABAT's batteries combine high-energy chemistry with state-of-the-art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries. Early in 2009, the Company acquired Wuxi Angell Autocycle Co. Ltd., an electric vehicle manufacturer, and renamed it Wuxi Zhongqiang Autocycle Co. Ltd.
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In the report, the analyst notes:
"ABAT shares traded higher Wednesday after the rechargeable battery maker responded to research published by what it called "a short seller operating under the pseudonym 'Variant View Research.' ... ABAT responded to each of the 14 allegations set forth in the Variant View report."
"ABAT's sales of electric vehicles for 2010 were $49.2 million, representing a 142% increase from 2009's figure of $20.3 million. The Company attributed the increase in vehicle sales to the fact that 2009 results include only the period from May 4, 2009, to December 31, 2009, and also to management's efforts that made Wuxi ZQ more responsive to the requirements of its distributors. The Company secured higher profitability in 2010 due to improved production efficiencies in its electric vehicles operations."
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