XI'AN, China, June 4 /PRNewswire-Asia/ -- China Power Equipment, Inc. ("China Power Equipment" or "China Power" or the "Company") (OTC Bulletin Board: CPQQ), the manufacturer of a new generation of energy saving electric transformers and transformer cores in the People's Republic of China, today announced that it has received the Notification of Acceptance for its two new patent applications from China's State Intellectual Property Office. After the Notification of Acceptance, it can take up to one year for the State Intellectual Property Office to complete the process for the patents to be granted.
Mr. Yongxing Song, Chairman and Chief Executive Officer of China Power, said, "China has embarked on an ambitious mission to dramatically increase energy efficiency nationwide. This will have a major improvement, not just on the economy but also on the environment.
"Our products are perfectly aligned with the government policies and, therefore, should continue to be in high demand. Nevertheless, we cannot rest with our current success. It is important that our engineers, technicians, and entire research and development department continue to improve the quality, safety, and cost-effectiveness of our products. These two pending patents are a testament to their hard work, extensive technical skills, and drive to innovate. Our sustained investment in research and development should continue to help create substantial value for our shareholders in the years ahead."
The pending two new patents are for a Vacuum Oiling Device for amorphous alloy transformer (pending patent number 201020195939.5) and another new type of amorphous alloy transformer (pending patent number 201020195940.8). In the traditional production process for transformers, oil is injected into the oil box from the top of the box, which could easily carry impurities into the box and could lead to a lower insulation level and, in some cases, an explosion of the transformer. The Vacuum Oiling Device prevents the ingestion of air, water, and other impurities during the injection of oil and will ensure that the oil can deliver the highest insulation level for the transformer. The new design and process can also reduce the production and testing time by as much as two days. The new type of amorphous alloy transformer also effectively lowers the cost of production and the transformer's operating noise level.
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 Zhongxi Co., Ltd., designs, manufactures, and distributes amorphous alloy transformer cores and amorphous alloy core electricity transformers in the People's Republic of China. The company currently manufactures 59 different products, primarily amorphous alloy cores and amorphous alloy core transformers.
Safe harbor statement
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.
The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our 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 our future results are described in our filings with United States Securities and Exchange Commission. These filings are available at www.sec.gov and at our website at http://www.chinapower-equipment.com .
We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake any obligation to update any forward-looking statement that may be made from time to time by or on our behalf except as required by law.
For more information about China Power Equipment, please visit our website at http://www.chinapower-equipment.com .
For additional information, please contact:
China Power Equipment, Inc.
Phone: +1-646-623-6999 in the USA
Email: xa-fj@xa-fj.com
or
Christensen
Mr. Yuanyuan Chen (English and Chinese)
Mobile: +86-139-2337-7882 in Beijing
Email: ychen@christensenir.com
Mr. Tom Myers (English)
Mobile: +86-139-1141-3520 in Beijing
Email: tmyers@christensenir.com
Ms. Kathy Li (English and Chinese)
Phone: +1-212-618-1978 in the USA
Email: kli@christensenir.com
