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HLS Systems Enters China's Wind Market - Focused on Producing Proprietary Wind Power Control Systems

Posted on: Friday, 8 August 2008, 09:01 CDT

HLS Systems International (NASDAQ: HOLI) ("HLS"), announced today that it is in late stage discussions with some of the largest wind turbine producers in China to provide their critical automation control systems. HLS expects to solidify a formal relationship with one or more of these companies in the next few months and expects to begin producing wind power control systems later this year.

Dr. Wang Changli, HLS' CEO commented, "We are excited to announce our entry into China's surging wind turbine market. The control systems used for wind power utilize some of the same key technologies in our industrial, rail and nuclear control systems and the wind business is therefore a natural complement to these existing business lines.

According to recent PRC government statistics, the wind market in China is expected to grow to 80GW by 2020, up from just 2.2 GW of output in 2005. To help reach this target, China recently enacted The Renewable Energy Law that requires state owned utilities to purchase all of the energy generated from wind farms at fixed, long-term competitive rates. This policy also requires that over 70% of the components for wind turbines installed in China must be sourced from manufacturers based in China. This new policy has provided additional incentives to develop wind farms in China and is expected to generate substantial demand for wind turbines in China and accelerate the overall growth in China's wind energy market.

Within this market, wind power control systems are virtually all imported from foreign suppliers and there is no clear market leader in China. By virtue of our proprietary automation control technologies that have been proven and used extensively in industrial, rail and nuclear power applications, we are well-positioned to become China's market leader and play a major role in China's wind energy market growth."

About HLS

HLS Systems International, based in Beijing, China, with 1,800 employees, is the leading domestic provider of automation control systems to China's surging nuclear, rail and industrial markets and will soon begin providing control systems to China's booming wind energy market. HLS has developed a series of proprietary high quality, low cost control systems that meet or exceed international standards and is able to effectively compete against the world's leading automation control companies.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the ability of the Company to achieve its commercial objectives to become a market leader and play a major role in China's wind energy market growth; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes,""expects" or similar expressions, involve known and unknown risks and uncertainties. Such forward-looking statements, based upon the current beliefs and expectations of HLS' management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Source: Business Wire

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