China Power Equipment Retains MZ-HCI as Its Investor Relations Advisor

XI'AN, China, Aug. 2, 2011 /PRNewswire-Asia-FirstCall/ -- China Power Equipment, Inc. ("China Power Equipment", OTCQB: CPQQ), a manufacturer of highly efficiency and energy saving amorphous alloy transformer cores and amorphous core transformers in China,today announced  that the Company has retained MZ-HCI as its investor relations advisor.

MZ-HCI will assist China Power Equipment with communicating its corporate, financial and investor developments to shareholders worldwide, while building its awareness in the capital markets. "We are pleased to engage MZ-HCI and look forward to working closely with them to establish and enhance our profile in the investment community and improve our communication with potential investors, the media and our current and future shareholders," said Mr. Yongxing Song, Chairman, President, and CEO of China Power Equipment.

"China Power Equipment's products are well positioned to capitalize on the demand for electric grid components in China as the country continues to accelerate investments in grid infrastructure and rural electrification," said Matthew Hayden, Chairman of MZ-HCI. "The Company's amorphous alloy transformer cores and amorphous alloy full scale transformers are highly efficient and well positioned in the market. We look forward to helping them with all aspects of their corporate communications and investor relations needs."

About China Power Equipment, Inc.

China Power Equipment, Inc., is a U.S. corporation, which through its wholly-owned subsidiary, An Sen (Xi'an) Power Science & Technology Co., Ltd., and its affiliated operating company, Xi'an Amorphous Alloy Zhongxi Transformer Co., Ltd., designs, manufactures, and distributes amorphous alloy transformer cores and amorphous alloy core distribution transformers in the People's Republic of China. The company currently manufactures 59 different products, primarily amorphous alloy cores and amorphous alloy core transformers.

About MZ-HCI

MZ-HCI, an MZ Group Company, is the world's largest independent investor relations (IR), corporate governance and communications, market intelligence and applied technologies firm, with over 530 clients in 10 countries and offices in leading investment centers, including New York, Chicago, San Diego, Beijing, Shanghai, Hong Kong, Taipei, and São Paulo.

Safe Harbor Statement

Certain statements in this release concerning our future growth prospects are forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "could," "estimates," "expects," "future," "intends," "plans," "should," "will," and similar statements.

The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of the company's investments, risks and uncertainties regarding fluctuations in earnings, its ability to sustain its previous levels of profitability including on account of its ability to manage growth, intense competition, wage and inflation increases in China, its ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, its ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts, and legal restrictions on raising capital or acquiring companies outside China.

Additional risks that could affect the company's future operating results are more fully described in its filings with U.S. Securities and Exchange Commission. These filings are available at www.sec.gov and at www.chinapower-equipment.com.

The company may, from time to time, make additional written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q, and 8-K, in its annual report to shareholders, in news releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. The company does not undertake to update any forward-looking statements that may be made from time to time by or on its behalf, except as required under law.

For more information about China Power Equipment, please visit its website at www.chinapower-equipment.com.

SOURCE China Power Equipment, Inc.