On September 28, 2012, the Board of China Power Equipment, Inc. appointed Mr. Dangsheng Chen, to serve as a member of the Board, effective immediately, and to assume the position of Mr. Li on the Audit, Compensation and Nominating and Corporate Governance Committees of the Board. Dangsheng has been the chief designer at Chongqing AEA Group Transformer Co. Ltd. of State Grid Electric Power Research Institute and is responsible for leading the research and development department and marketing for the 220kV transformer products and technologies since December 2006.