China Energy Savings Technology (CESV)

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China Energy Savings Announces 2nd Quarter Financial Results for its Wholly Owned Subsidiary
Quarterly Profits of Subsidiary of China Energy Savings Reach $6.15 Million
HONG KONG, April 5, 2005 /Xinhua-PRNewswire via COMTEX/ --
China Energy Savings Technology, Inc., (OTC Bulletin Board: CESV) today announced the preliminary 2nd Quarter revenue figures (unaudited) of its wholly owned subsidiary, Starway Management Limited ("Starway") for the quarter ended March 31, 2005 are $11.1 million. Net Income reached $6.15 million which showed an increase of 21.4% when compared to the same quarter in 2004, and compared to the last quarter which is increased 10.3%.

Current shareholder equity is approximately $50 million. This is an increase of 278% since the end of 2003. The significant increase in the company's net assets is due to the substantial increase in net income over the past several quarters.

Mr. Sun Li, CEO of China Energy Savings, said, "We continue to set the pace in China when it comes to energy savings. Our patented products are the very best available. The company's rapid increase continues at a brisk pace, as is evidenced by our revenue figures, and our profit margins remain impressive."

About China Energy Savings Technology

The company is engaged in the manufacturing and sales of advanced technology energy-saving products in the PRC. According to the test reports by various PRC authorities including National Center of Supervision & Inspection on Electric Light Source Quality (Shanghai) issued in September 2002 and Shenzhen Academy of Metrology & Quality Inspection issued in December 2002, the energy saving products of Shenzhen Dicken Group have the energy saving rates ranging from approximately 25% to 45%. The energy saving projects conducted by Starway Group mostly relate to public or street lighting systems, government administration units, shopping malls, supermarkets, restaurants, factories and oil fields, etc. There are small and large-scaled projects: the small-scaled projects relate to restaurants, shops and small arcades through the sale of equipment, and the large-scaled projects relate to large shopping malls, supermarkets, factories and public bodies through the provision and installation of equipment over a term usually extended for years.

Safe Harbor Statement

As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's ability to execute its business model and strategic plans; and the risks described from time to time in the Company's SEC filings.

For more information, please contact:

John Roskelley, President,
First Global Media
Tel: [phone]

CESV Website:
http://www.cesv-inc.com

SOURCE China Energy Savings Technology, Inc.

John Roskelley, President, First Global Media, [phone]

http://www.prnewswire.com


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