Goldwind, China’s largest turbine manufacturer by last year’s installation volumes, said net profits were virtually wiped out in the quarter, dropping 97% on the same stage last year to 6.1m yuan ($967,500).
Sinovel, the market number two, said net profit fell 87% to 56.8m yuan.
Both companies had previously warned of the profit declines, and they both say income for the first half of 2012 could decrease by more than 50%.
Reasons
