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China Power Equipment, Inc.
Symbol:  CPQQ


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Business Summary: China Power Equipment, Inc., through its subsidiaries, designs, manufactures, and distributes amorphous alloy transformer cores and amorphous alloy core electricity transformers for energy saving electrical power transformers in the People's Republic of China.
 
Address
  6th Floor, Fei Jing International
  No. 15 Gaoxin 6 Road
Hi-tech Industrial Development Zone
  Xi'an , Shaanxi 710065
  Phone: 86 29 8831 0282
  Fax: 86 29 8831 2081
  Website: http://www.chinapower-equipment.com
Auditor
  Morgenstern, Svoboda & Baer CPAs P.C.
Transfer Agent
  OTC Corporate Transfer Service Co.
Employees:  61
ShareHolders:  50
Founded:  2006
Domicile:  Maryland
 
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China Power Equipment, Inc.
Symbol:  CPQQ


Click here for a printable version
China Power Equipment, Inc., through its subsidiaries, designs, manufactures, and distributes amorphous alloy transformer cores and amorphous alloy core electricity transformers for energy saving electrical power transformers in the People's Republic of China. Its transformers are used to step down voltage at the final leg of the distribution of electricity to consumers, businesses, and industries. The company offers its products to electricity generation and supply companies, suppliers of electrical equipment, and other electric power transformers manufacturers. China Power Equipment, Inc. was founded in 2004 and is based in Xi'an, the People's Republic of China.
History:  INCORPORATED in Maryland May 17, 2006. On Nov. 3, 2006, the company formed An Sen (Xi'an) Power Science & Technology Co., Ltd. (An Sen), a limited liability company organized under the laws of the People's Republic of China (PRC), as a wholly owned subsidiary of the company. On Nov. 8, 2006, An Sen and Xi'an Amorphous Alloy Zhongxi Transformer Co., Ltd. (Zhongxi), a company organized under the laws of the PRC, entered into an agreement granting An Sen the right to manage and control Zhongxi and receive its financial benefits. In exchange for executing the agreement, the company issued an aggregate of 9,000,000 Common shares, of which 8,437,500 shares were issued to the shareholders of Xi'an Amorphous Alloy Science And Technology Co., Ltd. (Alloy Science) representing their 93.75% interest in Zhongxi, and 562,500 shares were issued or reserved for others. Zhongxi was founded on June 29, 2004. Alloy Science, the predecessor to Zhongxi, was formed in June 1999. On Oct. 28, 2006 Alloy Science, Zhongxi and its shareholders entered into an agreement where substantially all of the assets of Alloy Science were transferred into Zhongxi and 93.75% of Zhongxi's Common stock was held for the benefit of Alloy Science and its shareholders.
 
Subsidiaries:
An Sen (Xi'an) Power Science & Technology Co., Ltd.
 
 
 
 
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China Power Equipment, Inc.
Symbol:  CPQQ


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Management
OfficersPosition
 Yongxing  SongChairman, President & Chief Executive Officer
 Elaine Lanfeng ZhaoChief Financial Officer & Chief Accounting Officer
 Judy  YeSecretary

Directors
 Yarong  Feng
 Junyi  Li
 Michael  Segal
 Yongxing  Song
 Kuen Leung  Sue
 
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China Power Equipment, Inc.
Symbol:  CPQQ


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Capitalization as of 12/31/2009:
 
 Authorized SharesOutstanding Shares
Preferred $0.001 par10,000,0004,166,667so1
Common $0.001 par100,000,00014,908,313
 
LONG TERM DEBT: $115,463.
 
Common $0.001 par
 
Stockholders:  03/29/2010, 50.
Transfer Agent:  OTC Corporate Transfer Service Co.   Jericho , NY
 
OTC Bulletin Board( Primary): CPQQ
 
ExchangeYearHighLow
OTC Bulletin Board20094.40000.2500
 
DIVIDENDS: Common $0.001 par: No cash.
 
 
  so1Closely held. Consists of Cl. B, each of which is convertible into one Common share.
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China Power Equipment, Inc.
Symbol:  CPQQ


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Annual Report
 
Income Statement
  20092008
REVENUES
Revenues, Net23,866,2409,394,491
EXPENSES
Cost of Goods Sold(18,167,770)(7,050,739)
Selling, General and Administrative Expenses(1,170,932)(779,350)
Stock based Compensation(25,697)-
Interest Expense(14,268)(188,110)
Interest Income12,9023,119
Gains on Investments89,75567,505
Other Income393,224279,436
Earnings before Taxes4,983,4551,726,352
TAXES AND OTHER EXPENSES
Provision for Income Tax(763,455)(270,559)
Net Income (Loss)4,220,0001,455,793
CHARGES ON NET INCOME
Preferred Stock Adjustments(9,045,005)(2,193,483)
Net Income Available to Common Shareholders(4,825,005)(737,690)
SUPPLEMENTARY INFO
Gross Profit/loss5,698,471.002,343,752.00
Operating Income (Loss)4,501,842.001,564,402.00
Basic EPS(0.32)(0.07)
Diluted EPS(0.32)(0.07)
 
Balance Sheet
  20092008
ASSETS
CURRENT ASSETS
Cash8,883,1881,071,038
Accounts Receivable, Net1,949,8182,013,305
Inventory-net363,312461,634
Prepaid Expenses and Other Receivables220,939257,700
Advances to Suppliers-771,407
Total Current Assets11,417,2604,575,084
NON CURRENT ASSETS
Property, Plant and Equipment, Net4,593,0683,116,422
Long-term Investments282,897236,384
Intangible Assets, Net391,513220,742
Deposit for Purchase of Equipment767,858-
Prepaid Capital Lease111,482116,694
Deposit on Contract Rights1,316,3281,313,064
Accounts Receivable, Related Party73197,248
Total Assets18,881,1309,675,638
LIABILITIES
CURRENT LIABILITIES
Accounts Payable549,065710,480
Value-added Tax Payable219,39864,686
Accrued Liabilities and Other Payables395,486409,040
Notes Payable58,50358,358
Leases Payable-current Portion2,1561,944
Income Taxes Payable365,751235,262
Advances from Customers32,760142,156
Related Party Payables1,1701,167
Total Current Liabilities1,624,2891,623,093
NON CURRENT LIABILITIES
Leases Payable-non-current Portion115,463117,327
Preferred Stock Convertible4,167-
SHAREHOLDERS' EQUITY
Common Stock - Par Value14,90814,908
Additional Paid in Capital21,182,0307,176,041
Accumulated Deficit(5,728,130)(462,971)
Statutory Surplus Reserve Fund642,819202,665
Accumulated Other Comprehensive Income1,025,5921,004,575
Total Shareholders Equity17,141,3807,935,218
Total Liabilities & Shareholders Equity18,881,1309,675,638
 
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China Power Equipment, Inc.
Symbol:  CPQQ


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Interim Report   
 
Data Not Available
 
 
 
 
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China Power Equipment, Inc.
Symbol:  CPQQ


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Pro Forma Report   
 
Data Not Available
 
 
 
 
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China Power Equipment, Inc.
Symbol:  CPQQ


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Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2010   15,750,000
  2009   12,700,000
  2009   25,890,000
  2009   37,890,000
  2009   47,380,000
  2009   Full Year 23,870,000
  2008   12,330,000
  2008   22,240,000
  2008   32,240,000
  2008   42,590,000
  2008   Full Year 9,390,000
  2007   1640,000
  2007   21,640,000
  2007   31,940,000
  2007   42,440,000
  2007   Full Year 6,670,000
  2006   1730,000
  2006   2730,000
  2006   3750,000
  2006   4750,000
  2006   Full Year 2,970,000
  2005   Full Year 1,360,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1Nil
  2009   1Nil
  2009   2Nil
  2009   3Nil
  2009   4Nil
  2009   Full Year 4,220,000
  2008   Full Year 1,460,000
  2007   Full Year 260,000
  2006   Full Year 110,000
  2005   Full Year (30,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1.05
  2009   1.02
  2009   2.09
  2009   3.10
  2009   4(.53)
  2009   Full Year (.32)
  2008   1.03
  2008   2.02
  2008   3.02
  2008   4(.16)
  2008   Full Year (.07)
  2007   1Nil
  2007   2.01
  2007   3(.01)
  2007   4.02
  2007   Full Year .02
  2006   1.01
  2006   2.01
  2006   3(.01)
  2006   4(.01)
  2006   Full Year .01
  2005   Full Year Nil
 
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