China Valves Technology, Inc. Receives $2 million Order from China's Largest Nuclear Power Company

KAIFENG and ZHENGZHOU, China, April 23 /PRNewswire-Asia-FirstCall/ -- China Valves Technology, Inc. (Nasdaq: CVVT) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that the Company recently received a purchase order of $2 million worth of gate valves, check valves and globe valves from China's largest nuclear power company, China Nuclear Power Engineering Corporation, Ltd. ("CNPEC").

China Valves is one of only a handful of valve producers that have been certified as a qualified supplier for CNPEC. The Company's products are approved for the conventional island of nuclear power plants.

"Our business is performing well as demonstrated by this large order from CNPEC," said Mr. Siping Fang, Chairman and CEO of China Valves. "In addition to China Valves benefiting from the government stimulus plans, which have included significant allocations to infrastructure, and which encourage the use of domestically produced materials, our strong sales are driven by our success in integrating our completed acquisitions and our research and development efforts, allowing us to secure orders from significant projects and diversify our customer base. We remain confident that the Company is well positioned to meet its guidance to generate $40 million in net income in fiscal year 2010."

About China Valves Technology, Inc.

China Valves Technology, Inc. through its subsidiaries, Zhengzhou Zhengdie Valve Co, Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., Tai Zhou Tai De Valve Co., Ltd., Yangzhou Rock Valve Lock Technology Co., Ltd., Able Delight (Changsha) Valve Co., Ltd., and Shanghai Pudong Hanwei Valve Co., Ltd. is engaged in development, manufacture and sale of high-quality metal valves for the electricity, petroleum, chemical, water, gas and metallurgy industries. The Company has one of the best known brand names in China's valve industry, and its history can be traced back to 1959 when it was formed as a state-owned enterprise. The Company develops valve products by extensive research and development and owns a number of patents. It enjoys significant domestic market shares and exports to Asia and Europe. For more information, visit http://www.cvalve.com .

Safe Harbor Statements

Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company's ability to develop and market new products, the ability to access capital for expansion, the ability to acquire other companies, changes from anticipated levels of sales, changes in national or regional economic and competitive conditions, changes in relationships with customers, changes in principal product profits and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to update or revise to the public any forward-looking statements, whether as a result of new information, future events or otherwise. This press release was developed by China Valves, and is intended solely for informational purposes and is not to be construed as an offer or solicitation of an offer to buy or sell the Company's stock. This press release is based upon information available to the public, as well as other information from sources which management believes to be reliable, but it is not guaranteed by China Valves to be accurate, nor does China Valves purport it to be complete. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.

    For more information, please contact:

    China Valves Technology, Inc.
     Ray Chen, VP of Investor Relations
     Tel:   +1-650-281-8375
            +86-139-2527-9478
     Email: [email protected]
     Web:   http://www.cvalve.com

    CCG Investor Relations
     Linda Salo, Sr. Financial Writer
     Tel:   +1-646-922-0894
     Email: [email protected]

     Crocker Coulson, President
     Tel:   +1-646-213-1915
     Email: [email protected]
     Web:   http://www.ccgirasia.com

SOURCE China Valves Technology, Inc.