China Power Equipment (OTC BB:CPQQ)

On January 31, 2011, China Power Equipment, Inc. dismissed its principal independent accountant, Acquavella, Chiarelli, Shuster, Berkower & Co., LLP. The decision to dismiss ACSB as the Company's principal independent accountant was approved by the Audit Committee of the Company's Board of Directors on January 31, 2011.  ACSB’s report on the Company's financial statements for the fiscal year ended December 31, 2009 contained no adverse opinion or disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope or accounting principles.

On January 31, 2011, the Company engaged Mazars CPA Limited as its new principal independent accountants, effective immediately upon the dismissal of ACSB.