Ming Yang Wind Power Announces Preliminary Results for First Quarter of 2012
Resource from: CBCC Likes:3027
May 28,2012
China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, recently announced its preliminary unaudited financial results for the first quarter ended March 31, 2012.
Preliminary First Quarter of 2012 Selected Unaudited Financial Results
The Company's financial statements for the first quarter of 2012 have not been finalized and are subject to completion of its normal period-end closing procedures. Therefore, the preliminary selected unaudited financial data set forth below may be subject to adjustment and the actual results could differ materially from the preliminary results provided below.
Revenue for the first quarter of 2012 is expected to be between RMB400.0 million (US$63.5 million) and RMB410.0 million (US$65.1 million), a decline of approximately 70% year-over-year due to delays in the installation and commission of its wind turbines on a number of wind farm projects, caused in part by adverse weather conditions, and a slowdown of overall market demand in China. Gross margin in the first quarter of 2012 is expected to be approximately 10%.
As a result, the Company expects to incur a total comprehensive loss for the first quarter of 2012 between RMB110.0 million (US$17.5 million) and RMB120.0 million (US$19.1 million).
The Company is continuing to review its first quarter results and plans to announce its unaudited financial results for the first quarter of 2012 on June 1, 2012. The earnings press release will be available on the Investor Relations page of the Company's website at
http://ir.mywind.com.cn.
Following the earnings release announcement, Ming Yang's senior management will host a conference call on Friday, June 1, 2012 at 8:00 am (Eastern Time)/ 5:00 am (Pacific Time)/ 8:00 pm (Beijing Time) to discuss its results and recent business activities.
To access the conference call, please dial:
United States: +1-866-519-4004International (toll): +65-6723-9381China, domestic mobile: 400-620-8038China, domestic: 800-819-0121Hong Kong: 800-930-346
Please ask to be connected to 1Q 2012 China Ming Yang Wind Power Group Limited Earnings Conference Call and provide the following passcode: Ming Yang.
Ming Yang will also broadcast a live audio webcast of the conference call. The broadcast will be available by visiting the "Investor Relations" section of the Company's web site at http://ir.mywind.com.cn/.
Following the earnings conference call, an archive of the call will be available by dialing:
United States: 1-866-214-5335International (toll): +61-2-8235-5000China: 400-692-0026Hong Kong: 800-901-596Passcode: 8312-7277
The replay will be archived for seven days following the earnings announcement until June 7, 2012.
(CBCC)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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