Chinese wind group Goldwind said its first-half profits will be lower than expected due to delays in completing a deal with US technology giant Apple.

Goldwind now expects net profits for the January to June period to come in between 1.01bn yuan and 1.45bn yuan ($147m-$213m), after indicating in April it expected the range to be 1.45bn-2.17bn yuan.

The revised figure would leave the net result between flat and 30% lower when compared to the same period in 2016.

The company told investors on the Hong Kong Stock Exchange the reason for the discrepancy is “the differences in understanding the terms of the contracts between the Company and Apple resulting in the delayed completion of the transfer of certain wind farm assets as expected.