China Power Equipment, Inc (CPQQ)

[pappy]

After allowing for a increased tax-rate eps were flat in the 3rd qtr with a eps runrate of $0.28.

This has little bearing on the future growthrate since the new plant didn't become productive until sometime in Sept.

I will wait until I see 4th qtr numbers which should show a full qtr of production using the new plant.

Then multiply by 4 to establish the then current runrate.

By updating the runrate each qtr as 2012 unfolds a future growthrate can be established as we see how new business unfolds.

By then I hope this sector will regain some respect & a pps target using a p/e ratio somewhat in line with the future growthrate - a China discount can be determined.