specific content please see annex

Events: evening of November 24 announcement zhe Fu shares: the company received on November 23 Viet Nam songda shares notice, determine the Zhejiang Academy of rich water joint venture for the Xekaman1 power station project No.III.3.2 mechanical and electrical equipment, complete sets of the bid. As soon as possible between the two sides entered into a formal procurement contracts. Company is a joint venture-led party. Contracts subject to two145MW Francis units, the total amount of $ 38.514 million plus 9.9 billion Viet Nam Dong, equivalent of $ 248 million, accounted for about 2010 annual revenues of 27%. Comment: first successful foreign hydropower equipment complete set of project, open a wide door of overseas business since the winning Xekaman1 power plant project was the establishment of the company to undertake theFirst complete electromechanical equipment of large and medium hydropower plants projects in foreign countries. Company 2006 bid Japan and Korea project, in 2010 the company overseas orders 18.64% of the total order amount. Hydropower potential huge market in Southeast Asia, the development of hydropower resources in neighboring Southeast Asian countries, and by ultra high voltage transmission network implementation "from West to East", has become our country's resolving power shortageProblem in an important strategic step.����Outside of the company set up a special international engineering subsidiary diablo 3 gold, overseas expansion strategy and complement in the domestic market, we expect the company will continue in the future huge gains in overseas markets for large and medium hydropower projects and orders. Hydropower equipment industry high boom next year is expected to determine the company's development of hydropower equipment industry will soon enter the gold period. We expect mostConventional hydropower project will be completed between equipment bidding 2010-2015 year, 2012-2014 will become hydropower equipment demand peak, demand will reach about 30 million-kilowatt. In addition, we expect that the "Twelve-Five" pumped storage project will enter the approval during periods of high growth, demand will reach 2015 orders 13 million-kilowatt, relativeIn per cent in 2010, compound annual growth rate will reach 34%. Than conventional pumped storage hydropower with growth in greater flexibility.����As the plan introduced early next year, the State central investment projects will prompt release, we expect orders will appear in the second half was at its peak. Results for the company next year is expected to enter outbreak company is China's largest private hydroelectric equipmentManufacturer. Because of hydropower equipment industry has significant orders drive performance characteristics diablo 3 gold, products high accurate positioning to ensure its full market economy. Considering the company's current orders in hand, the industry average growth and future ability to bid, as productivity increase next year the company will enter a new growth cycle, overseas business, may bring unexpected order. After calculation of think near to usThree-year revenue growth in conservative estimates, 25.89% and 24.56%, respectively. Profit forecasts and valuations without considering possible future expected orders, coastal motor earnings included in the analysis, we expect companies 2011-2013 diluted EPS $ 0.60, 1.08 and $ 1.31, respectively, the current share price34.04 times respectively, and 18.93 times forward earnings, taking into account the company future hydropower expected strong orders growth in five years, and may develop achieve expected performance in foreign markets, maintaining "buy" rating. Risk Tip: closing costs associated with the contract of uncontrollable risks, risks of overseas market development, China's hydropower approval progress does not reach the expectedRisks (specific content please see annex)