Dutton Associates Announces Investment Opinion: China Solar & Clean Energy Solutions Strong Speculative Buy Rating In Update Cov

  
    
  
  
    
      Dutton Associates updates its coverage of China Solar & Clean Energy 
      Solutions (OTCBB:CSOL) with a Strong Speculative Buy rating and a $5.46 
      price target. The 11-page report by Dutton senior analyst Paul J. 
      Resnik, CFA is available at www.jmdutton.com 
      as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and 
      other leading financial portals.
    
    
      China Solar & Clean Energy Solutions is the new name of Deli Solar USA, 
      an established and significant seller of solar water heaters and 
      space-heating devices in the People’s Republic 
      of China (“PRC”). 
      The name change reflects the Company’s 
      decision to expand into other areas of energy conservation. The 
      well-documented need for China to turn to environmentally friendly 
      energy sources to support its dramatic economic growth forms the basis 
      for substantial opportunities in the alternative energy sector. China 
      Solar’s solar water heating business is 
      achieving solid gains as it expands its geographic footprint and market 
      share in China. That market is benefiting not only from the need for 
      alternative energy sources but also from the rapid growth of the middle 
      class and a strong housing market in China. We project 44% 
      earnings-per-share growth in 2007, and a gain of 53% in 2008, aided by 
      internal growth and a recently completed major acquisition; yet the 
      shares trade at less than 8x estimated 2008 EPS. Longer term, we believe 
      that the Company’s interest in other 
      alternative energy sectors further enhances China Solar’s 
      growth potential. Based on “street” 
      estimates for S&P’s 500 earnings in 2008, 
      the S&P 500 P/E is currently about 14. Assigning this multiple to China 
      Solar’s estimated 2008 EPS, despite the 
      Company’s prospects for above-average growth, 
      generates a 12-month price target of $5.46, over 55% above the current 
      share price.
    
    
      About Dutton Associates
    
    
      Dutton Associates is one of the largest independent investment research 
      firms in the U.S. Its 30 senior analysts are primarily CFAs and have 
      expertise in many industries. Dutton & Associates provides continuing 
      analyst coverage of over 140 enrolled companies, and its research, 
      estimates, and ratings are carried in all the major databases serving 
      institutions and online investors.
    
    
      The cost of enrollment in our one-year continuing research program is US 
      $35,000 prepaid for 4 Research Reports, typically published quarterly, 
      and requisite Research Notes. Dutton Associates received $33,000 from 
      the Company for 4 Research Reports with coverage commencing on 
      8/29/2005. We do not accept payment of our fees in company stock. Our 
      principals and analysts are prohibited from owning or trading in 
      securities of covered companies. The views expressed in this research 
      report accurately reflect the analyst's personal views about the subject 
      securities or issuer. Neither the analyst's compensation nor the 
      compensation received by us is in any way related to the specific 
      ratings or views contained in this research report or note. Please read 
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      before investing.