A-Power Energy Generation Systems Ltd
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March 08, 2009
HOT OFF THE CHINA SECURITIES BLOG .... 1. Canadian Solar (NASDAQ:CSIQ) - 4Q09 net revenues of $287.0 million
2. Gulf Resources (NASDAQ:GFRE) - Net income was $30.6 million, or $1.00 per basic and diluted share, a year-over-year increase of 36.6% from $22.4 million
3. DEER Consumer Products (NASDAQ:DEER) - Record Revenue of $81.3 million, an increase of 86% from $43.8 million in 2008
Jinxiang Lu has served as our Chairman of the Board and Chief Executive Officer since January 2008. Mr. Lu has been involved with developing power generation systems and power grids in China for over 30 years. In the 1980s and 1990s, while in charge of various major power plant projects in Huanren, Benxi, Tiefa and Chao, he recognized the inherent limitations and drawbacks of a central power system and began developing proprietary distributed power generation and micro power grid designs, processes and functionality. His distributed power generation and micro grid system has been refined over the past 20 years by Mr. Lu and his team of engineers and now can efficiently and automatically produce both electricity and heat in a single facility. Based on this technology, Mr. Lu founded Liaoning GaoKe Energy Group Company Limited and Liaoning High-Tech Energy Saving and Thermoelectricity Design Research Institute in 2003 and serves as the president and chief executive officer of these companies. Mr. Lu holds a Masters degree from Harbin Science and Technology University where he studied power plants and grid network design.
John S. Lin has been a member of our board of directors since January 2008 and has served as our Chief Strategy Officer since April 2008. As our Chief Strategy Officer, Mr. Lin’s responsibilities include our overall global business strategy, mergers and acquisitions strategy and channel development. Mr. Lin also currently serves as a director and as the President and CEO of CBC International Capital Corp. and CBC Investment Consulting (Shanghai) Co., Ltd., a position he has held since 2001. CBC advises Chinese companies in a variety of financial matters, including capital formation. He is experienced in raising capital in China and the U.S., structuring transactions and reorganizations of Chinese companies and public offerings of Chinese companies in exchanges worldwide. Mr. Lin has also served as a director and general manager of Chiway Investment (Anhui) Co., Ltd., which has been commissioned to manage 50 million dollars for Hefei city, China, to attract high technology businesses to the area, since September 2002, and as a director of Fair City Technology Co. Ltd., a privately held company, since October 2005. Mr. Lin is bilingual in English and Chinese and received a degree from Shanghai Traditional Medicine University and an Executive MBA from California State University Los Angeles.
Robert B. Leckie has been a member of our board of directors since March 2008. Mr. Leckie has been responsible for the legal departments of multiple multinational companies and has a wealth of experience with acquisitions, divestitures, joint ventures and financings, both public and private. Mr. Leckie also has substantial management experience. From 1995 through 1998 he served as the Chief Executive – Industrial Division for Novar plc., a public UK diversified industrial manufacturing and electrical controls company. From 1998 until Novar was acquired by Honeywell in 2005, Mr. Leckie was Novar’s General Counsel with responsibility for the Americas. Since May 2006, Mr. Leckie has operated a private legal practice in San Antonio, Texas. Mr. Leckie received a bachelors and masters degree in electrical engineering and a law degree from McGill University in Canada. He is licensed to practice law in Texas, New York and Ontario, Canada.
Dilip Limaye has been a member of our board of directors since January 2008. Mr. Limaye is an internationally recognized expert in the field of cogeneration, distributed power generation and renewable energy technologies. He is currently a senior advisor with the World Bank and the International Institute for Energy Conservation and serves as a consultant to the Japan Research Institute and USAID. For these institutions, Mr. Limaye is currently developing and implementing energy conservation strategies and solutions (primarily through cogeneration/distributed generation and other “green†technologies) for Vietnam, India, the Philippines, Japan, and Central and Eastern Europe. This includes developing micro networks based on green energy technologies for the island of Negros, Philippines and for the city of Yokohama, Japan. Mr. Limaye has held over 30 seminars in the U.S. and developing countries on cogeneration and distributed generation and has published two books on these topics. Mr. Limaye was the principal consultant and technical advisor for the U.S. Electric Power Research Institute’s major 10-year project to assess cogeneration and distributed generation and to develop sustainable models of collaborative efforts among U.S. utilities, customers, equipment suppliers, and energy service providers to implement cogeneration projects. He was also a founding member of the International Cogeneration Society and assisted in the development of the Certified Cogeneration Professional (CCP) program for the Cogeneration Institute of the Association of Energy Engineers. In addition, Mr. Limaye was the Founder and President of the International Energy Services Company, the first multi-national energy services company (ESCO), and is currently the President of SRC Global, Inc., a position he has held since 1999.
Remo Richli has been a member of our board of directors since January 2008. Mr. Richli has been an Associate Partner of Bridgelink AG, a private international mergers and acquisitions firm headquartered in Switzerland since 2005. His responsibilities include the acquisition and divestiture of companies as well as raising funds, including private equity deals and venture capital funds. Previously, since 1999, he worked in the United States as a financial expert at RP Associates in San Diego, a venture capital firm focusing on corporate finance and financial structures. His work included evaluations of investment opportunities, financial modeling of investments, and fundraising, as well as building teams on operational and strategic levels. During his time with RP Associates, Mr. Richli also served as Chief Financial Officer of one of its portfolio companies. From 1993 to 1999, Mr. Richli owned a consulting firm engaged in corporate finance consultancy for mid-sized companies and acted as the Chief Executive Officer of client companies on a consulting basis. From 1991 to 1993, Mr. Richli was a director at the Department of Finance at the city government level in Switzerland. Mr. Richli also serves as a member of the board of directors of Origin Agritech Limited, a technology-focused crop seed company serving mainland China that is traded on the NASDAQ Global Select Market. He studied in Switzerland and in the United States and holds several degrees in Business and Economics from the University of Basel, Switzerland and the University of Applied Science in Luzern, Switzerland.
Zhenyu Fan has been a member of our board of directors since January 2008. Mr. Fan is an expert in power plant design and development. He possesses long-standing relationships with many of the large utilities, energy companies and governments in countries throughout Southeast Asia. With these strategic relationships, Mr. Fan has been instrumental in obtaining and managing projects for Chinese power companies in India, Indonesia and Vietnam to develop power plants ranging in size from a few megawatts to over 1 gigawatt. Since 2002, Mr. Fan has worked as a manager at China National Machinery & Equipment Import & Export Corp.
Jianmin Wu has been a member of our board of directors since January 2008. Mr. Wu is experienced in investment banking and finance and serves as the chief representative of Huatai Securities Co., Ltd. for investment banking activity in China, a position he has held since 2001. He also currently serves as an independent board member of Fushun Special Steel Co., Ltd. a Chinese manufacturer of special steel products that is listed on the Shanghai Stock Exchange. From 2005 to June 2006, he was the VP of Finance for Migao Corporation (Toronto Exchange: MGO), and played a major role in their IPO process. Mr. Wu also previously worked as the investment banking manager at Shenyin Wanguo Securities Ltd. from 1996 to 2001. Mr. Wu has a degree in Applied Computer Science from Shanghai Machinery University and a masters degree in electrical engineering from Dalian University of Technology.
