Small Engines (Lawn Mowers, etc.): no compression, briggs and stratton, chinese engines

Question
i have a kingkraft generator with a 5.5 ohv honda knock off engine with maybe 10 psi compression.i pulled the head checked valves, rockers, springs and locks, pushrods and piston and all seem ok. no hole in block and still has oil in it. could the rings be bad? i did not check crank because piston is moving and pushrods and valves are moving. head gasket seems ok. are Chinese engines that bad that they only last a couple of years. i have a 20 year old snow blower with Briggs and Stratton with 60 psi compression.

Answer
Actually, these engines are fairly dependable. I wouldn't say that it would only last you 2 years.
First question i have, is are you sure you compression gauge is reading properly. Try is out on another piece of equipment to make sure.
And i am assuming you inspected the operation of the valves before pulling the head.

Seeing that you have the head off the engine. Run a mic test down the cyl and check the trueness of the cyl. If it is any further then 0.005 out that could be your issue. Specs are to be within
0.003.

If this is OK, the perform a valve job on the head.