1 1

Ticker (NASDAQ): CLNT

Price (12/03/2013): $5.22
Market Cap: $18.3 mil
Revenues (TTM
1
): $66.9 mil
Adjusted Net Income (TTM)
2
: $8.8 mil
Shares Outstanding (11/13/2013): 3.5 mil
Adjusted Diluted EPS (TTM)
2
: $2.93
P/E (TTM)
2
: 1.78x
P/S (TTM): 0.27x
P/B (MRQ): 0.21x
World Class Provider of Precision Forged and Fabricated
Solutions - Cleantech Solutions has over fteen years of operational,
engineering and technical experience in delivering superior quality
and high performance forged products, precision components and as-
semblies. The Company manufactures shafts and forged rolled rings
for gear rims, anges and other applications for use in wind power
generation and other industries.
Pro!table and Growing Dyeing and Finishing Equipment
Business - Sales from Cleantech Solutions dyeing and nishing seg-
ment accounted for 53% of revenue in the rst 9 months of 2013, up
62% year-over-year, primarily due to rapid adoption of its patented air-
ow dyeing machines designed to meet a series of environmental poli-
cies introduced by the Chinese government which encourage the use of
energy-efcient, low emission, and environmentally friendly equipment
by the textile industry. The Company is currently expanding capacity to
meet demand and is developing new products, including an after treat-
ment compacting machine and a new line of premium traditional and
airow dyeing machines, for the textile industry.
Advanced Manufacturing Facility Meets International Stan-
dards - Cleantech Solutions production facilities are based in Jiangsu
province, China. The proximity to major transportation systems such as
the Yangtze Delta Area, the Grand Canal of Jinghang, the Huning
Railway line, and National Highway 312 enables the Company to
supply its products to customers at a relative cost advantage. The
Companys production facilities are ISO 9001 certied and its rigorous
internal quality control process exceeds the quality requirements of its
domestic and international customers.
KEY INVESTMENT HIGHLIGHTS
COMPANY DESCRIPTION - Cleantech Solutions International, Inc. (Cleantech Solutions or the Company) (NASDAQ: CLNT) is a
manufacturer of metal components and assemblies used in various clean technology and manufacturing industries and textile dyeing and
nishing machines. The Company supplies forging products, fabricated products and machining services to a range of clean technology
and manufacturing customers and supplies dyeing and nishing equipment to the textile industry. Cleantech Solutions is committed to
achieving long-term growth through ongoing technological improvement, capacity expansion, and the development of a strong customer
base.
Revenue (in $million) Adjusted Net Income (in $million) EBITDA (in $million)
Chinas Commitment to Clean Energy - China is facing energy
safety and pollution challenges resulting from its heavy dependence
on fossil fuels. To achieve its environmental goals, China has listed
wind energy and solar energy among the top seven priority industries in
its 12th ve year plan. China is targeting 200 GW of installed wind power
capacity by 2020 and 35GW in solar installation by 2015. Approximately
21% of the Companys revenue in the rst nine months of 2013 was
from sales to customers in the wind power industry. The Company has
yet to generate meaninful revenue from customers in the solar industry.
Cleantech Solutions believes it is favorably positioned to benefit from
Chinas unwavering commitment to clean energy over the longer
term.
Compelling Growth Strategy Focused on Developing New End
Markets - Cleantech Solutions has expanded its expertise to include
the production of sapphire growth systems for the rapidly growing
and government supported LED lighting industry. The LED industry
presents an attractive longer-term growth opportunity in the domestic as
well as international markets. The Company is also targeting Chinas oil
and gas industry and is currently marketing its forged anges and pipes
for use in onshore and offshore drilling and renery equipment.
Valuation - Cleantech Solutions is currently trading at a price to
earnings multiple of 1.78x trailing twelve month earnings and a price to
book ratio of 0.21x. For the full year ending December 31, 2013, the
Company expects revenue in the range of $60 - $62 million and net
income in the range of $8.0 - $8.5 million, excluding the impact of any
year-end adjustments to the carrying value of equipment held for sale.
Note: Adjusted net income is a non-GAAP measurement which adds back impairment loss in the fourth quarter of 2012 and warrant modication expense in the June 2012; EBITDA is also a non-GAAP measure-
ment (see reconciliation tables in appendix);2013 net income guidance excludes the impact of any year-end adjustments to the carrying value of equipment held for sale.
11.1
5.8
6.6
8.0 - 8.5
4.0
6.1
0
2
4
6
8
10
12
2010 2011 2012 2013E 9M 2012 9M 2013
79.5
55.6
57.2
60 - 62
39.6
49.3
0
10
20
30
40
50
60
70
80
90
2010 2011 2012 2013E 9M 2012 9M 2013
18.9
13.7
15.3
10.5
13.6
0
5
10
15
20
2010 2011 2012 9M 2012 9M 2013
1
As of Sep 30 2013
2
Adjusted net income and adjusted diluted eps for the trailing twelve months ended 30 September 2013 are non-GAAP
measurements, which add back impairment loss in the fourth quarter of 2012 (see reconciliation in appendix)
2
Investor Relations Contact
Compass Investor Relations
Elaine Ketchmere, Partner
Email: eketchmere@compass-ir.com
Auditor
RBSM LLP
Company Contact
Cleantech Solutions International
Mr. Adam Wasserman, CFO
Email: adamw@cleantechsolutionsinternational.com
Web: www.cleantechsolutionsinternational.com
Legal Counsel
Ellenoff Grossman & Schole LLP
Business Risks and Forward-Looking Statements
This factsheet contains certain forward-looking statements relating to the business of the Company and its subsidiary and afliated companies. These forward looking statements
are often identied by the use of forward-looking terminology such as believes, expects or similar expressions. Such forward looking statements involve known and unknown risks
and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue
reliance on these forward-looking statements, which speak only as of the date of this factsheet. The Companys 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 Companys periodic reports that are led with the Securities and Exchange Commission
and available on its website, including factors described in Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations in our Form
10-K for the year ended December 31, 2012 and Managements Discussion and Analysis of Financial Condition and Results of Operations in our Form 10-Q for the quarter ended
September 30, 2013. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualied 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.
SELECTED FINANCIAL STATEMENTS
SUMMARY BALANCE SHEET September 30, 2013 December 31, 2012
(Unaudited) (Audited)
ASSETS
Cash and cash equivalents $ 2,223,017 $ 1,445,728
Accounts receivable, net 11,545,834 10,078,623
Inventories, net 6,216,215 5,897,555
Total Current Assets 23,629,349 19,073,397
Total Assets $ 101,989,097 $ 89,936,284
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT LIABILITIES:
Total Current Liabilities 13,212,050 11,809,870
Total Stockholders Equity 88,777,047 77,993,658
Total Liabilities and Stockholders Equity $ 101,989,097 $ 89,936,284
SUMMARY INCOME STATEMENT
For the Fiscal Year Ended
December 31,
For the Nine Months Ended
September 30,
2012 2011 2013 2012
(Audited) (Audited) (Unaudited) (Unaudited)
Revenues 57,199,221 55,579,262 49,312,341 39,585,815
Gross Prot 13,136,585 13,303,343 11,739,810 8,896,379
Gross Margin 23.0% 23.9% 23.8% 22.5%
Income from Operations 6,343,706 8,182,577 8,603,195 5,616,894
Operating Margin 11.1% 14.7% 17.4% 14.2%
Net Income 4,198,580 5,760,543 6,075,889 3,729,267
Net Income per diluted share 1.58 2.30 1.95 1.42
Weighted average diluted shares outstanding 2,649,043 2,500,805 3,112,148 2,617,798
2 3
APPENDIX: RECONCILATION OF NON-GAAP MEASURES
For the Fiscal Year Ended
December 31,
For the Nine Months Ended
September 30,
2012 2011 2013 2012
NET INCOME TO EBITDA
Net Income $ 4,198,580 $ 5,760,543 $ 6,075,889 $ 3,729,267
Income Tax 1,701,602 2,340,471 2,326,239 1,490,173
Interest Expense 305,659 193,709 244,291 244,685
Warrant Modication Expenses 235,133 - - 235,133
Impairment Loss 2,206,253 - - -
Depreciation and Amortization 6,612,931 5,442,675 4,954,160 4,789,837
EBITDA $ 15,260,158 $ 13,737,398 $ 13,600,579 $ 10,489,095
ADJUSTED NET INCOME AND EPS
Net Income $ 4,198,580 $ 5,760,543 $ 6,075,889 $ 3,729,267
Add: Impairment Loss 2,206,253 - - -
Add: Warrant modication expenses 235,133 - - 235,133
Adjusted Net Income $ 6,639,966 $ 5,760,543 $ 6,075,889 3,964,400
Weighted Average Shares - Diluted 2,649,043 2,500,805 3,112,148 2,617,798
Adjusted Diluted EPS $ 2.51 $ 2.30 $ 1.95 $ 1.51
Use of Non-GAAP Financial Measures
The Company has included in this factsheet certain non-GAAP nancial measures. The Company believes that both management and investors benet
from referring to these non-GAAP nancial measures in assessing the performance of the Company and when planning and forecasting future periods.
Readers are cautioned not to view non-GAAP nancial measures on a stand-alone basis or as a substitute for GAAP measures, or as being comparable
to results reported or forecasted by other companies, and should refer to the reconciliation of GAAP measures with non-GAAP measures also included
herein.