China Ming Yang Wind Power Q2 Profit Soars

Wind turbine manufacturer China Ming Yang Wind Power Group reported that second-quarter profit attributable to shareholders of the company soared to 68.71 million yuan or $11.08 million, from 13.45 million yuan in the prior-year quarter.

Earnings per share were 0.49 yuan or $0.08, sharply higher than last year’s 0.11 yuan.

Revenue for the quarter surged to 1.56 billion yuan or $252.13 million from 935.65 million yuan in the same quarter last year.

Looking ahead to the third quarter, the firm expects revenue between 2.1 billion yuan and 2.3 billion yuan, and adjusted net profit in a range of 95 million yuan to 100 million yuan.