SOURCE: GC China Turbine Corp.

GC China Turbine Corp.

May 24, 2010 10:20 ET

GC China Turbine Corp. Announces First Quarter Earnings for 2010

NEW YORK, NY--(Marketwire - May 24, 2010) - (OTCBB: GCHT

  • GC China Posts Solid Results
  • Earnings Driven by Operational Performance

GC China Turbine Corp. (OTCBB: GCHT) (the "Company" or "GC China"), a leading Chinese manufacturer of twin blade wind turbines, today reported 2010 first quarter revenues of USD $11.9 million with a net profit of USD $1.8 million or $0.03 per share based on a total of 20 turbine systems delivered, installed and payments received during the period.

The Company began marketing its wind turbines and commenced its sales efforts as GC China in October of 2009. Over the next 6 months, the Company has delivered solid operational performance with marked growth and efficiencies in sales, manufacturing, inventory control and timely installation of its innovative products.

GC China heads into the balance of the year with multiple sales agreements in place with a number of customers including regional municipalities and provincial governments amongst others.

Company Director Marcus Laun comments, "We are very pleased with the positive results and overall solid growth indicators at the end of this first quarter. In our short history we have proven our capability to offer a reliable, cost-effective and technologically superior product that is quickly being recognized as a serious contender in the Chinese marketplace."

About GC China Turbine Corp. (OTCBB: GCHT)
GC China is a leading manufacturer of state-of-the-art 2-bladed wind turbines based in Wuhan City of Hubei Province, China. The Company holds a license to manufacture a groundbreaking technology which meets rigorous requirements for low-cost and high reliability. The technology was developed through a 10 year European research project costing over US$75 million. GC China's launch product is a 1.0 megawatt ("MW") utility scale turbine with designs for a 2.5MW and 3.0MW utility scale turbine in development. For more information visit: www.gcchinaturbine.com

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, completion of definitive agreements with local and provincial governments, wind farms and utility companies, number of wind turbine systems ordered, manufactured, delivered and installed, the Company's future strategic plans, the outlook for the Company's markets and the demand for its products, estimated sales, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD

GC China Turbine Corp.
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Marcus Laun, Director

For more information, visit our website at: http://www.gcchinaturbine.com/.

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