New Energy Systems Group is a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems for mobile phones, laptops, digital cameras, MP3s and a variety of other portable electronics. Engaged in the battery business for many years, New Energy has established a strong network among battery companies and gained extensive experience in battery assembly and distribution.
Selling its end-user consumer products primarly under the Anytone brand in China, the company has begun expanding its international sales efforts. Recently New Energy announced plans to launch MeePower(TM), a new brand of advanced battery backup systems and related accessories for digital devices, in the U.S. beginning this fall. The company has developed a portfolio of over 50 patents and plans to leverage its experience in manufacturing and distribution to roll out a steady stream of new product innovations.
New Energy’s growth is exceptional. For the second quarter ended June 30, 2010, the company’s revenue increased 335.2% to $23.4 million, gross profit increased 280.1% to $6.1 million and EPS increased 59.1% to $0.35 per diluted share year-over-year. As of June 30, 2010, the Company had cash and cash equivalents of approximately $3.8 million, working capital of $12.6 million, no long-term debt and stockholders’ equity of $59.3 million.
Currently the company trades at a P/E of 5.54, P/S of 1.11 and Price/Book of 1.20. New Energy’s management team is operating the company with industry leading performance, returning 31.6% on equity, 25% on assets and 29.9% on capital. According to Yahoo Finance, insiders hold 41.05% of the shares outstanding and have not made any transactions in the last two years.
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