July 8, 2011
/PRNewswire-Asia-FirstCall/ -- A-Power Energy Generation Systems, Ltd. (NASDAQ: APWR) ("A-Power" or "the Company"), a leading provider of distributed power generation systems in
and a manufacturer of wind turbines, today announced that Mr.
has been elected by the Company's board of directors as a director, effective
July 7, 2011
With the addition of Mr. Yu, A-Power's directors have reconstituted the Audit Committee of the Board of Directors, with Mr. Yu as chairman of the committee and with Mr.
, an existing member of the Committee, and Mr.
as members. All three are independent directors. A-Power believes that Mr. Yu meets all the qualifications to be an audit committee's financial expert for the purposes of pertinent U.S. reporting obligations.
Mr. Yu is a professor at the Master of Professional Accounting Education Center of
of Finance and Economics in
. He is also a visiting professor at the Shenyang Institute of Engineering and adjunct professor at the National Accounting Institute in
Mr. Yu has been a member of the Chinese Institute of Certified Public Accountants ("CICPA") since 1994. He is currently a senior member of the CICPA and a nonpracticing certified public accountant. He is also Deputy Secretary General of the Liaoning Provincial Institute of Certified Public Accountants, a member of the CICPA Professional Technique Committee, and a member of Professional Standard Advisory Board for Chinese certified public accountants. Since
, Mr. Yu has served as a member of the Drafting Committee of Chinese Certified Public Accountants Auditing Standards.
Mr. Yu currently serves as an independent director and chairman of audit committee for three companies listed on the Shanghai Stock Exchange or Shenzhen Stock Exchange in
: Liaoning Chengda Co., Ltd (Shanghai Exchange: 600739), Northern United Publishing & Media (Group) Company Limited (Shanghai Exchange: 601999), and SIASUN Robot & Automation Co., Ltd (Shenzhen Exchange: 300024).
Mr. Yu was previously an independent director and chairman of audit committee for Dalian Dayang Trands Co. Ltd. (Shanghai Exchange: 600233), Liaoning Hongyang Energy Resource Investment Co. Ltd (Shanghai Exchange: 600758), Dalian Rubber & Plastics Machinery Co. Ltd. (Shanghai Exchange: 600346), and
& Steel Co., Ltd (Shanghai Exchange: 600231).
Mr. Yu holds a master of business administration degree from
University of Science and Technology and graduated from the accounting program of
University. He is 49.
A-Power Energy Generation Systems, Ltd., through its China-based operating subsidiaries, is a leading provider of distributed power generation systems in
and is expanding into the production of alternative power generation systems. Focusing on energy-efficient and environmentally friendly distributed power generation projects of 25 to 400 megawatts, A-Power also operates one of the largest wind turbine manufacturing facilities in
A-Power acquired Evatech Co. Ltd., a designer and manufacturer of industrial equipment for amorphous-silicon photovoltaic panels, in
In addition to the establishment of strategic relationships with some of the world's leading wind energy design and engineering companies, A-Power has formed joint research programs with Tsinghua University and the China Academy of Sciences to develop and commercialize other renewable energy technologies.