Asia Electrical Power International Group (fka AEPW)

[Basser1]

sia Electrical Power Reports Record Revenue for 2007
Tuesday 04/15/2008 9:15 AM ET - Market Wire

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As of 12:00 AM ET 4/29/08
Asia Electrical Power International Group, Inc. (OTCBB: AEPW) ("Asia Electrical"), a leading manufacturer of secondary electrical power systems in China, today reported financial results for the year ended December 31, 2007.

Highlights:

-- 2007 revenues were up 45% year-over-year to $11.67 million.

-- Excluding a one-time expense, net income for the year was up 125% year-
over-year to $961,000.

-- Excluding a one-time expense, fully diluted EPS for the year was up
100% year-over-year to $0.02.

-- Fourth quarter revenues up 39% year-over-year to $3.62 million.

-- Balance sheet is strengthened with almost $3 million in cash and no
long term debt.


Yulong Guo, Asia Electrical Power's Chairman and Chief Executive Officer, commented, "Our successes in 2007 serve as a solid foundation for our continued growth in 2008 and beyond. As we continue our efforts to drastically increase the Company's domestic market share while aggressively solidifying our position in new international markets, we are focusing on the quality of our products, the depth of our product line, and the growth of our sales network."

"With the opening of our new state-of-the-art facilities in the first quarter of 2008, which increased our manufacturing capacity by over ten fold, we are now in a position to meet the increased demand, from both domestic and international markets, for our product line. As a result, we expect 2008 to be a breakout year for the Company," concluded Mr. Guo.

Company Reports Record Revenue & Net Income

Revenues for the year ended December 31, 2007 totaled $11.67 million, an increase of 45% from $8.07 million in 2006. Excluding a one-time expense for amortization of deferred expenses (options issued to Directors, Officers, employees, and for consulting services) net income for the year ended December 31, 2007 was a Company record $961,000, or $0.02 per diluted share, compared to $427,000, or $0.01 per diluted share, in 2006. This represents an increase of 125% year-over-year. Including the one-time expense, net income for the year was $(947,000) or $(0.02) per diluted share.

Fourth quarter revenues for the period ended December 31, 2007 totaled $3.62 million, an increase of 39% from the $2.6 million reported in the fourth quarter of 2006. Excluding a one-time expense for amortization of deferred expenses (options issued to Directors, Officers, employees, and for consulting services) net income for the fourth quarter ended December 31, 2007 was $51,700, as compared to $158,000 reported in the fourth quarter of 2006.

The Company strengthened its balance sheet with $2.9 million in cash and no long term debt.