Research, Report & Profiling Services by IPOdesktop.com Solar Enertech Corp. (SOEN.OB) Stock symbol: SOEN.OB….…..….…………..…..…………………………..Float: 44mm (est)

Stock price 3/6/07: $1.04…….…………..……………….Common shares (12/31/06: 79 est)

52-week price range: $.66 - $2.18……..……...………Equity market capitalization: $82mm

Recent News…..Stock Price…..Chart…..SEC Filings

INTRODUCTION

Founded in 2006, Solar Enertech Corp. is a solar science company

SOEN manufacturers high quality photovoltaic ("PV") solar energy cells and state-of-the-art solar applications and

Through its Joint R&D Lab, a partnership with Shanghai University, conducts development and research programs designed to improve PV technology.

HIGHLIGHTS

Based in Shanghai, China, Solar EnerTech has built a sophisticated 42,000 square foot manufacturing and research facility in Shanghai's Jinqiao Modern Science and Technology Park

Production began January 2007

SOEN invests in photovoltaic cell research to develop higher efficiency cells—and puts the results of that research to use right away in the company's manufacturing processes

Led by one of the industry's top scientists, the company's R&D program is rapidly moving towards bringing Solar EnerTech to the forefront of advanced solar technology research and production.

OUTLOOK

Solar cell and module manufacturing, reaching 55 MW capability by the end of 2007, with future divisions of Solar System Integration and Conceptual Design for Solar Applications

Projected revenues are $60 million, $175 million, $420 million, $720 million for Year 2007, 2008, 2009, and 2010, respectively, with an average estimated profit rate of 21%., after tax based on an agreement to pay no taxes for three years.

Address: 1600 Adams Drive, Menlo Park, CA 94025 Telephone: 650) 688-5800 President: Leo Shi Young Web Site: http://www.solarenertech.com/ State or other jurisdiction of incorporation or organization: NV Transfer Agent: Empire Stock Transfer Inc. Investor contact: Boundary Point Investor Relations, Inc., 1-866-378-7372, investors@solarenertech.com

RECENT DEVELOPMENTS

Solar EnerTech Signs Sales Contract Worth $9.2 Million, slated for delivery over seven shipments throughout the year, includes a variety of solar products. The customer is Shanghai Fan Qie Trading Ltd., a solar panel wholesaler as well as system integrator that delivers small and medium turnkey solar systems that are often contracted by government subsidized renewable energy projects. The current order will be shipped to Africa, where many Chinese-assisted energy projects have been initiated subsequent to the Forum on China-Africa Cooperation held in Beijing last year. The event hosted 54 African nations' leaders and it is anticipated that more orders by African nations will create a new marketplace for the Company along with existing opportunities present in Europe and California

Solar EnerTech Inaugurates Joint R&D Lab With Shanghai University

MARKET GROWTH

The photovoltaic PV industry revenue increased from US$7 billion in 2004 to US$9.8 billion in 2005

According to Solarbuzz, an industry market research firm, PVindustry revenue is expected to increase to between US$18.6 billion and $23.1 billion in 2010.

SOEN MISSION & VISION

Produce green, renewable, and affordable, sustainable power solutions essential to a better, safer, healthier life for people everywhere

Striving to be the best, if not the largest, SOEN is a solar power company that differs from all other existing solar cell and module manufacturing companies by putting strong emphasis on R&D which will ensure the company’s competitive advantage

Perform research and development on advanced solar cell technologies, including thin film and non-silicon cell materials.

GROWTH POWERED BY R&D

Since it officially opened last December, the SOLARE-Shanghai University Joint R&D Lab, now houses five Solar EnerTech’s research projects and over 50 scientists and graduate student working to deliver Solar EnerTech innovations tailored to the needs of the near-future solar industry

Located in both Shanghai University campus as well as at Solar Enertech’s manufacturing facility, the Joint Lab represents an investment to date of more than $20 million

The new facility demonstrates Solar EnerTech’s commitment to be the best solar company in the world, if not the largest

The Shanghai R&D facility was designed to provide support for research, applications development, training, technology transfer, and licensing of Solar EnerTech technologies for China, Asia Pacific, and global markets

This Joint Lab also will provide an enhanced platform to enable technological exchanges and research collaborations between Solar Enertech and leading China and Western universities and research institutes

Solar EnerTech’s science and technology is addressing today's renewable energy needs for improvements in solar conversion efficiency and the development of alternative solar cell materials to assist customers in meeting their demands of energy consumption and emission reduction

"SOEN’s R&D efforts are focused on developing technology solutions and initiate dramatic changes in all methods of photovoltaic production," said Prof. Z. Q. Ma, Solar EnerTech’s CTO and leader of the Joint R&D Program with Shanghai University.

COMPARE & CONTRAST

The most comparable company to SOEN of the seven solar energy IPOs in the past 16 months is

JA Solar (click for pre-IPO report)

The seven solar energy companies, most based in China, which fairly recently IPO’d are

(1) Canadian Solar Inc. (CSIQ)

/i/s/csiq&x=0&y=0

(2) First Solar, Inc. (FSLR)

/i/s/fslr&x=0&y=0

(3) JA Solar Holdings Co, Ltd. (JASO)

/i/s/jaso

(4) Solarfun Power Holdings Co. Ltd. (SOLF)

/i/s/solf&x=0&y=0

(5) SunPower Corporation (SPWR)

/i/s/spwr&x=0&y=0

(6) Suntech Power Holdings Co. Ltd. (STP)

/i/s/stp&x=0&y=0

(7) Trina Solar Ltd. (TSL)

/i/s/tsl&x=0&y=0

POTENTIAL MARKET VALUATION

Both SOEN and JASO are in a fast ramp-up phase

The mid-point of JASO’s price range, set January 16, 2007, indicated an IPO value of nearly $600 million

JASO

Established in May 2005 and commenced commercial operations in April 2006 with the opening of the first solar cell manufacturing line located in Hebei province which has a rated manufacturing capacity of 25 MW per annum

Reached full production capacity on the first manufacturing line in July 2006

Installed two additional manufacturing lines each with a rated manufacturing capacity of 25 MW per annum in the same facilities, which became fully operational in October 2006 and resulted in having a total rated manufacturing capacity of 75 MW per annum

Plans to construct four additional manufacturing lines in the planned new facilities in Shanghai to increase total rated manufacturing capacity to 175 MW per annum by the end of the third quarter of 2007

Has significant long term contracts.

SOEN

Also on a fast ramp-up plan

If SOEN has 55 MW of capacity, as projected, by year-end 2007, with plans to increase capacity by several orders of magnitude and also lands several significant long term contracts, similar to JASO

Then SOEN’s market cap could be in the range of 50% of JASO’s initial IPO price range, set on January 16, 2007, or SOEN’s market valuation could be in the range of $300 million by year end- 2007

Assuming 30 million shares are sold to finance growth, then the potential price per share, based on the above assumptions, could be in the range of $2.50 ($300 million market cap divided by 120mm shares)

MANAGEMENT

Leo Shi YOUNG, President & CEO

Mr. Young is a U.S. citizen and an entrepreneur with a successful record of establishing technology firms in the United States and China. Prior to founding Solar EnerTech, he was the founder and CEO of InfoTech Essentials Inc., a leading energy-saving technology company in China. Successful businesses founded by Mr. Young include TaoStar International, Inc., Silicon Valley Computer Graphics, New AsianAmericans magazine, VictorMaxx Technologies, Inc., and Innovative Publishing Graphics, Inc

Using his extensive experience in the energy sector and his dynamic organizational ability, Mr. Young discovered, acquired and assembled the current solar team. Under his leadership, the state-of-the-art solar cell manufacturing plant in Shanghai was build and launched production in less than six months

Mr. Young was invited by Governor Arnold Schwarzenegger as a senior member of the California trade mission to China in 2005, representing California energy companies; he currently serves as an organizing committee member of China's National Renewable Energy Forum

Mr. Young holds an MBA from Fordham University, New York; an MA from the School of the Art Institute of Chicago; and a BA from Tsinghua University of Beijing.

Shi Jian YIN, VP & COO

Prior to joining Solar EnerTech, Mr. Yin was the founder and General Manager of Shanghai TopSolar, a major player in China's solar industry and one that rivaled SunTech in 2005

Mr. Yin’s strong background in material science and his management skill enabled him to built TopSlar from scratch and from there he accumulated abundant experience of running and managing a complex solar cell manufacturing. He earned two Science and Technology Awards by the Chinese government for his research accomplishments while managing TopSolar

Mr Yin has exceptional ability in organizing industrial infrastructural building and large-scale semi-conductor manufacturing

His track record includes top management positions at Shanghai Jiao Tong University, Gofly Group Co., Ltd., Shanghai Fenghuang Co., Ltd., Beijing Green Environment Technology Co., Ltd. Mr. Yin earned his MBA and BA from Shanghai Jiao Tong University, majoring in Engineering and Material Science

Dr Z.Q. MA, CTO

Dr. Ma is in charge of Solar Enertech’s Research and Development, and the Joint Lab with Shanghai University

Prior to joining Solar EnerTech, Dr Ma held a number of research and academic positions, including Professor of microelectronics and condensed matter physics at Shanghai University, and positions at University of Illinois at Urbana Champaign (UIUC), Xinjiang University, Japan Atomic Energy Research Institute (JAERI), and Xinjiang Institute of Physics at the Chinese Academy of Science & Technology

A specialist in semiconductor material physics, and a recipient of many high-profile awards for solar energy research, Dr Ma enjoys an international reputation. He serves as Solar Enertech’s technology architect and guides the company’s R&D direction, focusing on photovoltaic materials and ion beam surface modifications of metal, semiconductor, ceramics, and insulator materials, and energetic ion fabrication of thin films on hetero-substrates, etc.

Dr Ma earned his Ph.D. in materials physics from Tsinghua University, a Master's degree in condensed matter physics from Institute of Physics of Academia Sinica, and a Bachelor's degree in physics from Xinjiang University.

Y.H. ZHANG, Associate CTO & Plant General Manager

Ms Zhang is the leader of all engineers at Solar Enertech. Before joining Solar EnerTech, Ms. Zhang served as Associate CTO at Shanghai TopSolar in charge of production and operations

Ms. Zhang was also one of the key players at Chinese NASA, successfully designed, created and implemented high-efficiency solar applications for the Chinese space programs. The background at Chinese NASA enables Ms Zhang to run solar production with a very high standard, driven by technological know-how and constant urge of improvement

At Solar Enertech, solid experience enables her to keep cost down on every phase of the plant infrastructural design and production equipment assembly. She has tailor-designed two of Solar Enertech’s own equipment to accommodate production layout

Ms. Zhang earned a MS degree from Shanghai Jiao Tong University and a BS from Harbin University of Engineering.

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