Highpower International Inc. announced that its board of directors received a non-binding investment proposal letter from Anshan Co-Operation (Group) Co. Ltd., joined with Mr. George Pan, Chairman and CEO, and certain management of Highpower International, and China Innovative Capital Management Ltd. Anshan Co-Operation (Group) Co. Ltd. proposed to purchase newly issued shares of Shenzhen Highpower Technology Co.

Ltd., Springpower Technology (Shenzhen) Co. Ltd. and Icon Energy System (Shenzhen) Co. Ltd., the three subsidiaries in the People's Republic of China (the "PRC") wholly-owned by Highpower International Inc. The company's board of directors has formed a special committee consisting of the following independent directors to consider this proposal: Ping Li, who will serve as chairman, Xin Hai Li and T. Joseph Fisher, III.