China Ming Yang Wind Power Group Limited (Ming Yang) has announced its unaudited financial results for the quarter ended June 30, 2015. Revenue in the second quarter of 2015 was RMB1,563.2 million (US$ 252.1 million), compared to RMB935.6 million in the second quarter of 2014.
The increase was due to the combined effects of a 54.9% increase in the number of WTGs commissioned (measured by power output), and the approximately 5.1 % increase in average WTG selling price in the second quarter of 2015 compared with the corresponding period of 2014. Profit for the period was RMB68.0 million (US$11.0 million), compared to RMB11.7 million in the second quarter of 2014. WTGs for which revenue was recognized in the second quarter of 2015 amounted to an equivalent wind power project output of 470MW, or 120 units of 1.5MW WTGs and 145 units of 2.0MW WTGs. In the second quarter of 2014, revenue was recognized for WTGs with a power output of 303.5MW.
