WENZHOU, China, Dec. 28,
2022 /PRNewswire/ -- Erayak Power Solution Group
Inc. ("Erayak" or the "Company") (Nasdaq: RAYA), a leading
manufacturer, designer, and exporter of high-quality products in
the power supply industry, is pleased to provide the following
information concerning the Company's generator sales in 2022.
For the first half of 2022, sales of the Company's generators
were US$3.65 million, a 437% increase
compared to US$835 thousand in the
first half of 2021. Generator sales in the second half of 2021 were
US$720 thousand and the generator
sales in the second half of 2022 are expected to continue similar
growth rate as seen in the first half of 2022. The increase
in generator sales is due to the continuous impact of the
Russia-Ukraine situation this year, resulting in an
unprecedented energy crisis that has significantly increased demand
for the Company's generators.
Erayak Chairman & CEO Mr. Lingyi
Kong stated: "EU countries have publicly stated that they
will adopt diversified energy supply solutions to end their
dependence on Russian natural gas. Erayak is well positioned in
this growing industry and will launch hybrid inverters, dual-fuel
generators, and upgraded gasoline generators in the coming months
to meet this rapidly increasing demand coming from Europe." The Company has received new orders
for more than 30,000 generators in the past three months. In order
to increase production capacity, the Company has added three
generator production lines in total this year.
About Erayak Power Solution Group Inc.
Erayak specializes in the manufacturing, research and
development, and wholesale and retail of power solution products.
Erayak's product portfolio includes sine wave and off-grid
inverters, inverter and gasoline generators, battery and smart
chargers, and custom-designed products. Our products are used
principally in agricultural and industrial vehicles, recreational
vehicles, electrical appliances, and outdoor living products. Our
goal is to be the premier power solutions brand and a solution for
mobile life and outdoor living. For more information, visit
www.erayakpower.com.
Safe Harbor Statement
This press release contains forward-looking statements. In
addition, from time to time, we or our representatives may make
forward-looking statements orally or in writing. We base these
forward-looking statements on our expectations and projections
about future events, which we derive from the information currently
available to us. Such forward-looking statements relate to future
events or our future performance, including: our financial
performance and projections; our growth in revenue and earnings;
and our business prospects and opportunities. You can identify
forward-looking statements by those that are not historical in
nature, particularly those that use terminology such as "may,"
"should," "expects," "anticipates," "contemplates," "estimates,"
"believes," "plans," "projected," "predicts," "potential," or
"hopes" or the negative of these or similar terms. In evaluating
these forward-looking statements, you should consider various
factors, including: our ability to change the direction of the
Company; our ability to keep pace with new technology and changing
market needs; and the competitive environment of our business.
These and other factors may cause our actual results to differ
materially from any forward-looking statement. Forward-looking
statements are only predictions. The forward-looking events
discussed in this press release and other statements made from time
to time by us or our representatives, may not occur, and actual
events and results may differ materially and are subject to risks,
uncertainties, and assumptions about us. We are not obligated
to publicly update or revise any forward-looking statement, whether
as a result of uncertainties and assumptions, the forward-looking
events discussed in this press release and other statements made
from time to time by us or our representatives might not occur.
Investor Relations Contact:
Skyline Corporate Communications Group, LLC
Lisa Gray, Senior Account
Manager
One Rockefeller Plaza, 11th
Floor
New York, NY 10020
Office: (646) 893-5835
Email: lisa@skylineccg.com
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SOURCE Erayak Power Solution Group Inc.