BEIJING (dpa-AFX) - China Ming Yang Wind Power Group Limited (MY), wind turbine manufacturer in China, reported that its income for the first quarter was RMB 40.7 million or $6.6 million, compared to RMB 187.2 million in the same quarter last year. Quarterly earnings per share was RMB0.32 or $0.05, compared to RMB1.51 last year.
Administrative expenses were RMB 89.2 million or $14.4 million for the first quarter of 2015, compared to RMB 68.1 million for the corresponding period in 2014, representing an increase of 31.0%. The increase in administrative expenses was mainly due to provision for doubtful trade and other receivables of RMB 27.5 million or $4.4 million being made in the first quarter of 2015 as compared to RMB 5.8 million provision being made in the corresponding period of 2014.
Revenue in the third quarter of 2015 was RMB 1.33 billion or $215.3 million, up from RMB 1.22 billion in the comparable quarter last year.
Copyright RTT News/dpa-AFX
© 2015 AFX News
