Ming Yang sees signs for hope

Ming Yang CEO Zhang Chuanwei

Ming Yang CEO Zhang Chuanwei

Chinese wind turbine manufacturer Ming Yang claimed market trends are helping to get it back on track after a painful 2012 that ended in a net loss of 303.7m yuan ($48.7m).

At this time last year Ming Yang – China’s biggest non-state-owned turbine maker – was posting a 2011 profit of 253.1m yuan.

The company sold 804.5MW of turbines last year, a 45.3% decrease on 2011’s figure, and pulled in revenue of 2.9bn yuan, a 47% fall.

In the final quarter of 2012 the company lost 164.9m yuan, but at least managed to increase revenue by 11% compared to the same period in 2011, thanks to a rise in selling prices.

The company’s CEO Zhang Chuanwei admitted: "2012 was a very tough year, not just Log in to read complete article.

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