Sinovel
recognised
revenue
for
equipment
that
had
not
been
installed,
leading
to
errors
in
the
sales
income
and
costs
reported
for
2011,
it
says
in
a
statement
filed
to
the
Shanghai
stock
exchange.
Operating
income
was
9%
less
than
the
10.4bn
yuan
initially
reported
by
Sinovel,
while
costs
were
6.7%
lower,
show
the
restated
figures.
This
reduces
the
company’s
profits,
reported
at
776m
yuan
for
the
year,
to
610m
yuan,
adds
the
statement.
Sinovel,
China’s
biggest
wind
turbine
maker
by
annual
installations
during
2009
and
2010,
saw
a
sudden
change
in
fortunes
during
2011,
when
new
orders
dried
up
and
deliveries
were…
