Unassociated Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

January 28, 2009

HONG KONG HIGHPOWER TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

Delaware	000-52103	20-4062622
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Building A1, Luoshan Industrial Zone, Shanxia, Pinghu, Longgang, Shenzhen, Guangdong, 518111, China

(Address, including zip code, of principal executive offices)

Registrant’s telephone number, including area code

(86) 755-89686238

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 28, 2009, Hong Kong Highpower Technology, Inc. (the “Company”) announced that it is appointing Henry Ngan, age 35, as its new Chief Financial Officer, effective February 1, 2009. The Company’s current Chief Financial Officer, Yui Zhi Qiu, will remain with the Company as the Corporate Controller.

Since July 2008, Mr. Ngan has served as Vice President and Senior Equity Analyst at Brean Murray Carret & Co. in New York City. Prior to that, Mr. Ngan served as an Equity Research Analyst at Buckingham Research Group in New York from June 2004 to January 2008 and at Robotti & Company from October 2002 until June 2004. Mr. Ngan received a B.S. degree in Accounting from the University at Albany, State University of New York in 1995 and an MBA in Finance and Information & Communication Systems from Fordham University in 2004. Mr. Ngan is a Certified Public Accountant in the State of New York.

In connection with Mr. Ngan’s appointment, the Company anticipates entering into an offer letter (the “Offer Letter”) with Mr. Ngan regarding his employment pursuant to which he will be entitled to a base salary at an annual rate of $150,000 and 17,000 shares of restricted common stock of the Company under the Company’s 2008 Omnibus Incentive Plan, which will be granted on August 1, 2009 and vest in equal installments on January 31, 2010 and January 31, 2011. Mr. Ngan will also be entitled to reasonable vacation and sick time and reimbursement for the cost of standard medical and dental insurance premiums and for business expenses. Mr. Ngan will also be required to execute a Confidentiality and Non-Disclosure Agreement in connection with his employment with the Company.

Other than the above, ,there are no other arrangements or understandings between Mr. Ngan and any other person(s) with respect to his appointment as the Company’s Chief Financial Officer. In addition, there has been no transaction, nor is there any currently proposed transaction, to which the Company or any of its subsidiaries was or is to be a party in which Mr. Ngan or any member of his immediate family, had or will have, a direct or indirect material interest. Mr. Ngan is not related to any of Company’s directors or other executive officers.

On January 28, 2009, the Company issued a press release announcing the appointment of Mr. Ngan as Chief Financial Officer. A copy of such press release is attached to this current report on Form 8-K as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
99.1	Press release dated January 28, 2009.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Hong Kong Highpower Technology, Inc.

Dated: January 28, 2009		/s/ Dang Yu Pan
		By: Dang Yu Pan
		Its: Chairman of the Board and Chief Executive Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release dated January 28, 2009.

Hong Kong Highpower Technology Appoints US-Based CFO

HONG KONG AND SAN JOSE, CALIF. – January 28, 2009 – Hong Kong Highpower Technology, Inc. (NYSE Alternext US: HPJ), a developer, manufacturer and marketer of rechargeable nickel-metal hydride (Ni-MH) and lithium-ion (Li-ion) batteries and related products, today announced that Mr. Henry H. Ngan will join the Company as Chief Financial Officer, effective February 1, 2009. Mr. Ngan will be based primarily in New York and Shenzhen, China. Mr. Yu Zhi “Sam” Qiu will remain with the Company as Corporate Controller, based in Shenzhen.

“Henry is a highly accomplished finance professional who brings a full complement of financial expertise, strategic development skills and Wall Street acumen to our Company,” said George Pan, Chairman and Chief Executive Officer of Hong Kong Highpower Technology. “As a former equity research analyst at respected U.S. investment banking firms, Henry’s background includes security and financial analysis, capital markets transactions, accounting and auditing. We are delighted to have someone of Henry’s caliber join our team and represent our Company in the U.S. We look forward to his leadership as both our business expansion plans and investment community outreach efforts progress.”

Most recently Mr. Ngan served as Vice President, Senior Equity Analyst at New York-based investment banking firm Brean Murray Carret & Co. where he conducted and published fundamental research with a focus on Chinese companies traded on U.S. stock exchanges. Previously, he was an Equity Research Analyst at Buckingham Research Group and Robotti & Company. Mr. Ngan has also served as an International and Strategic Project Consultant at Standard & Poors’ London and New York offices. Mr. Ngan’s accounting experience includes senior level financial analysis and auditor positions at American Express Tax and Business Services, Bear Stearns Companies, Charles Hecht & Company and KPMG Peat Marwick LLP.

Mr. Ngan received an MBA in finance from Fordham University in New York and a bachelor’s degree in accounting from the University at Albany, State University of New York. Mr. Ngan is a certified public accountant in the State of New York.

About Hong Kong Highpower Technology, Inc.

Hong Kong Highpower Technology develops, manufactures and markets rechargeable nickel metal hydride (Ni-MH) and lithium-ion (Li-ion) batteries and related products for use in a variety of electronic devices. The majority of Hong Kong Highpower Technology’s products are distributed worldwide to markets in the United States, Europe, China, Hong Kong, Southeast Asia and Taiwan. For more information, visit http://www.haopengbattery.com.

Hong Kong Highpower Technology, Inc.

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Media and Investor Inquiries:

Company Contact:

Mr. Henry H. Ngan

Chief Financial Officer

+1-917-887-0614

Financial Profile, Inc.

Brandi Floberg

+1-310-277-4711

HPJ@finprofiles.com

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