(NASDAQ Capital Market: APWR)

Industry: Heavy Construction

A-Power Energy Generation Systems, Ltd., formerly known as China Energy Technology Limited completed the acquisition of all of the common stock of Head Dragon Holdings, Limited, on January 18, 2008. Head Dragon is a Hong Kong company that owns a controlling interest in operating companies in the People"s Republic of China known as GaoKe. Concurrent with the stock purchase, Chardan South China Acquisition Corporation was merged with and into A-Power. The Company designs, constructs and tests distributed power generation systems to factories and users in the People"s Republic of China. It incorporates standard power generating equipment into an integrated system that includes refined control systems to balance power generation with demand. A-Power also offers automatic control system, which monitors the performance of equipment in the system, including the boiler, turbine, generator, grid supply, demand and distribution, as well as space and water heating functions. Its target customers include companies operating in various industries, including steel, chemical, cement, food processing and ethanol and municipal governments, as well as state-owned Chinese power companies.