PEKING (dpa-AFX) - China Ming Yang Wind Power Group Ltd or Ming Yang (MY) reported that its second quarter total comprehensive income declined 54.1% to RMB74.6 million or $11.5 million from RMB162.5 million in the prior year quarter. Earnings per ordinary share were RMB0.67 or $0.10 compared to RMB1.61 in the prior year quarter.
Quarterly revenue was RMB1.41 billion or $217.4 million, representing an increase of 7.2% from RMB1.31 billion in the year ago quarter.
For 2011, the company targets to recognize revenue from WTGs equivalent to wind power projects with a total output of 1.8 to 2.0 GW. Based on estimated total newly installed wind capacity of up to 20GW in China in 2011, the company expects to attain a market share of between 9 and 10% for the year.
Copyright RTT News/dpa-AFX
© 2011 AFX News
