China Wind Systems Reaffirms 2010 Guidance; Expects Revenue of $76.5M to $85.0M

Mr. Jianhua Wu, Chairman and CEO of China Wind Systems CWS announced: "We have increasingly observed downstream wind power players expand their production capacity to meet the growing market demand for wind power fuelled by China's aggressive renewable energy policy. In light of our recent sales contract wins and our attractive market position as a leading wind component supplier, we reaffirm our 2010 financial guidance of revenue to be in the range of $76.5 million to $85.0 million and net income to be between $15.5 million and $16.3 million. We are also confident that our wind industry segment will exhibit a 75% year-over-year growth to reach $35 million in fiscal year 2010."