China Wind Power Explains Delay in Filing Annual Financial Statements

China Wind Power International Corp. (TSX VENTURE:CNW) ("China Wind Power" or
the "Company") previously announced on July 27, 2012 that the Company would not
file its audited annual financial statements and related management discussion
and analysis ("MD&A") for the year ended March 31, 2012 within the prescribed
time period as required by the Canadian securities laws. The Company expects to
record an allowance for doubtful account of up to $13.6 million in the Company's
annual financial statements for its financial year ended March 31, 2012 in
relation to pre-payments for equipment made to a supplier of wind turbines in
prior years. This supplier has not delivered the related equipment nor have they
refunded the pre-payments received. The total outstanding amount owed to the
Company as at March 31, 2012 is $13.6 million. 


The Audit Committee, and an Independent Committee established by the Board of
Directors consisting of two Canadian independent directors, has requested
additional information for the above noted transaction from management and has
requested to review transactions with related parties to ensure proper
accounting treatment and disclosure. As a result, the Company was unable to file
its annual financial statements and related documents on time due to the
cumulative effect of the following factors:




--  Management of the Company is responding to information requests from the
    Audit Committee and the Independent Committee. Management expects to
    provide all requested documentation, a detailed description of the
    transactions noted above and an explanation of the business reasons for
    the transactions in the coming days; 
--  Management of the Company is in discussions with this supplier with the
    intent of seeking a resolution to this matter. The Company intends to
    pursue all avenues to collect the outstanding amount; and 
--  Management of the Company and the Audit Committee must meet to discuss
    the proper accounting treatment and disclosure for the doubtful account
    and the annual financial statements must be approved by the Board of
    Directors. 



The Company is diligently working with its Audit Committee to resolve this issue
and anticipates that the duration of its default will be approximately two to
four weeks. 


The Company has made an application to the Ontario Securities Commission and
other relevant securities regulatory authorities under applicable securities
legislation for the issuance of a management and insider cease trade order
("MCTO") in connection with the anticipated filing delay. If an MCTO is granted,
it would result in a formal and temporary order that prohibits certain current
and former directors, officers and other insiders of the Company from trading in
the Company's securities, for as long as the required filings have not been
completed. An MCTO would generally not affect the ability of persons who are
not, or who have not been, directors, officers or other insiders of the Company
to trade in the Company's securities.


Pending the filing of the Company's annual financial statements and MD&A, and
under the guidelines pursuant to which the MCTO may be issued, the Company
intends to satisfy the Alternate Information Guidelines pursuant to National
Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP
12-203"), including the filing of bi-weekly Default Status Reports, as long as
it is in default of the filing requirements. If an issuer cease trade order were
imposed in lieu of an MCTO, it would prevent all trading in the securities of
the Company within the applicable jurisdiction. This news release constitutes a
"default announcement" made pursuant to section 4.3 under NP 12-203.


About China Wind Power International Corp. 

China Wind Power International Corp. is an Ontario company that is uniquely
positioned to capitalize on the growing demand for wind power in China. The
Company indirectly holds the exclusive rights for wind energy development in Du
Mon County, Heilongjiang Province, which has a demonstrated potential installed
capacity of 1,150 MW of wind energy developable over an area of 612 square km.
While 1,150 MW represents the Company's long-term potential for wind power in
the area, its current plans are for building out approximately 800 MW over five
development phases. The Company's common shares are listed on the TSX Venture
Exchange under the symbol "CNW". 


Caution Regarding Forward-Looking Statements 

Certain statements that are not historical facts made in this press release may
be forward-looking statements subject to risks and uncertainties. Statements
containing words such as "will", "could", "expect", "may", "anticipate",
"believe", "intend", "estimate", "plan" and other similar expressions are
forward-looking statements that represent management's beliefs at the time the
statements are made and are based on certain factors and assumptions including
the resolution of the financial statement matter; the ability of the Company to
prepare and file its annual financial statements and management's discussion and
analysis on a timely basis; the issuance of a management and insider cease trade
order in connection with the anticipated filing delay by the applicable
securities regulatory authorities. These forward-looking statements are subject
to a variety of risks and uncertainties and other factors that could cause
actual events to differ materially from those projected in forward-looking
statements. Important factors that could cause actual results to differ
materially from the Company's expectations including uncertainties involving the
progress of resolving the financial statement matter; the completion of the
Company's filing of its annual financial statements and management's discussion
and analysis; the issuance of a management and insider cease trade order in
connection with the anticipated filing delay by the applicable securities
regulatory authorities; and other risks and uncertainties as more fully
described in the Company's in the information circular dated November 2, 2011,
its Management's Discussion and Analysis for the 2011 fiscal year and the three
and nine months ended December 31, 2011 and in the Company's other filings with
securities regulatory authorities, which are available under the Company's
profile at www.sedar.com. Readers are cautioned that the foregoing lists of
risks, uncertainties, assumptions and other actors are not exhaustive;
therefore, readers should not place undue reliance on the forward-looking
statements contained herein. Except as required by applicable securities laws,
the Company undertakes no obligation to update any forward looking statement to
reflect events or circumstances after the date on which such statement is made.