Xi'an, China, June 28, 2011 - 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, announced on June 28 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.

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 Alloy Zhongxi Transformer Co., Ltd., designs, manufactures, and distributes amorphous alloy transformer cores and amorphous alloy core distribution transformers in the People's Republic of China. The company currently manufactures 59 different products, primarily amorphous alloy cores and amorphous alloy core transformers.