China Power Equipment (OTC BB:CPQQ)

XI'AN, China, June 28, 2011 /PRNewswire-Asia-FirstCall/ -- China Power Equipment, Inc. ("China Power" or "China Power Equipment" or the "Company," OTCBB: CPQQ), the designer, manufacturer, and distributor of a new generation of energy saving electric transformers and transformer cores in the People's Republic of China, today announced that Mr. Yongxing Song, Chairman and Chief Executive Officer of China Power Equipment purchased 123,500 shares of the Company's common stock in open market transactions.

Mr. Yongxing Song, Chairman and Chief Executive Officer of China Power Equipment, said, "We are fully committed to maximizing value for shareholders, and will continue to invest to grow our business, in particular our new transformer production line. Our strong balance sheet and cash flow are providing the capital for this new production line, as well as substantial increases in working capital." He added, "More than ever, I believe in China Power's continued success."

Mr. Song bought shares on the open market on June 24, and June 27, 2011.