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 $2.38 
      price target. The 27-page report by Dutton senior analyst Stanley Ng is 
      available at www.duttonassociates.com 
      as well as from First Call, Bloomberg, Capital IQ, FactSet and other 
      leading financial portals.
    
    
      We are re-initiating our research coverage on China Solar & Clean Energy 
      Solutions. Following the completed acquisition of Shenzhen PengSangPu 
      (SZPSP) in March 2008, the Company has a more diversified portfolio of 
      solar and renewable energy businesses, which can be classified into 
      three main segments: solar heater/boiler-related products, heat 
      pipe-related products and energy-saving projects. In the rural areas in 
      China with rising disposable incomes, the attractive cost economics of 
      solar hot water heaters, compared to gas and electric hot water heaters, 
      has translated into a strong demand for China Solar’s 
      products. Meanwhile, the heat-pipe and related energy-recovery projects 
      at Tianjin Huaneng, which are suitable for manufacturing processes that 
      require large amounts of heat, such as steel and chemical plants, are 
      gaining momentum due to the high energy recovery efficiency and short 
      payback period. The acquisition of SZPSP has enabled the Company to 
      establish a strong foothold in energy-saving projects in Southern China, 
      where it hopes to capture the growing market for commercial solar hot 
      water heater systems. We forecast the Company’s 
      NI to increase a robust 210% to $4.80 million in 2008 followed by a 69% 
      increase to $8.10 million in 2009. Diluted EPS would show a less 
      impressive increase to $0.30 in 2008 and rise to $0.34 in 2009 due to 
      the significant increase in the number of shares issued in 2008 and the 
      expected conversion of outstanding warrants in 2009.
    
    
      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 
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      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 $48,000 from 
      the Company for 6 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.