A-Power Energy Generation Systems (APWR) hit a 52 week high of 29.50 before settling down to 28.45 at the close on over 3 million shares traded on June 17th and is strong again today in a down market. APWR has been on a tear over the last 3 months gaining over 100%. Is it time for APWR to pull back and take a breather? Not so fast, lets look at some numbers. For the three months ended March 31, 2008, A-Power’s revenue was $32.3 million, an increase of 85.0% from $17.5 million in Q1 2007. The increase was due to continued growth in the Company’s core distributed power generation business and larger product mix. This stock has not been widely followed until recently when some firms started picking it up such as Roth Capital who started it as a Buy a few days ago. Some facts about APWR:

• Based on current demand they believe their new wind turbine plant will be operating at full capacity until mid-2011bringing in over 1 billion in revenues

• APWR will bring online its 180,000 square foot wind turbine assembly facility with the capacity to produce 420 of the 750kW wind turbines and 300 of the 2.5 MW wind turbines each year and expects to begin producing wind turbines at this new facility in the third quarter of this 2008

• China’s wind energy market alone is expected to grow 40 fold to 50 GW of output by 2020, up from just 1.2 GW in 2005

• Q1 2008 Revenue increased 85.0% to $32.3 million from $17.5 million in Q1 2007

• Q1 2008 Net Income increased 79.1% to $2.9 million from $1.6 million in Q1 2007

• Cash balance as of March 31, 2008 approximately $94 million, up from approximately $36 million at the end of 2007

• Bridge loan was repaid in January 2008, Company is now debt-free

• Confirms Company on-track to reach 2008 earnings guidance of $35 to $45 million, or approximately $1.04 to $1.34 per share

If APWR continues to execute and become “best of breed” it could generate 2009 earnings close to $2.00 per share. With a aggressive multiple of 40 for a growth company such as this, it could warrant an $80 pps.