Ming Yang 2013 revenue falls 1.7%

Zhang Chuanwei says Ming Yang is discussing projects in Northern and Eastern Europe

Ming Yang chief executive Chuanwei Zhang

Ming Yang’s revenue fell 1.7% on the year in 2013 to 2,844.8m yuan ($469.9m), as the Chinese turbine manufacturer racked up orders for 1.85GW of turbines.

The New York-listed company’s fourth-quarter sales revenue slid 32.1% to 175.5MW, from 296MW in the July-September period.

Full-year turbine sales reached 872MW, including orders for 455 of its 1.5MW machines and 91 of its 2MW turbines, up 8.39% from 2012. Gross profit fell 29.1% on the year to 262.3m ($43.3m) in 2013.

The 1.85GW of orders it signed in 2013 included 677 units of its 1.5MW machines and 402 of its 2MW turbines.

Ming Yang spent 102.6m yuan ($16.9m) on R&D, up 19.5% on the year, partly due to work on its 6MW prototype.

The company, based in the southern Chinese city of Zhongshan, has scored a number of big deals in recent months, including a 150MW order in India and a 200MW contract in Romania.

It claimed an order backlog of 3GW as of 31 December, with total cumulative sales of 7.6GW.

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