Releasing preliminary results on the Shenzhen stock exchange yesterday, China’s second-biggest turbine maker reported net profits of 607m yuan ($96m) compared with 2.28bn yuan in 2010.
Operating profit fell 74% to 698m yuan while revenues declined 27% to 12.9bn yuan.
Goldwind had warned in its third-quarter report that profits would be down by up to 100%, and said the preliminary results were in line with its forecast.
Analyst
