QUOTE AND NEWS
newratings.com  Jun 6  Comment 
BEIJING (dpa-AFX) - China Ming Yang Wind Power Group Limited (MY) said that its shareholders voted in favor of the proposal to authorize and approve agreement and plan of merger dated as of February 2, 2016, by and among the Company, Zhongshan...
The Economic Times  May 5  Comment 
MY BIGGEST ACHIEVEMENT at Cisco was to completely revamp the entire Cisco TelePresence Management user interface using a host of new UI technologies while simultaneously introducing several new features, each of which was conceptualised by me.
The Hindu Business Line  Apr 15  Comment 
Perizaad Zorabian President – Marketing, Zorabian Chicken 1 I begin my day with a lemon shot sprinkled with cinnamon powder. It works like magic, making my very acidic stomach alkaline! A bowl of...
The Economic Times  Feb 23  Comment 
MY FIRST job after graduating from IIT Madras was at KPMG where I worked for a few months and subsequently at Flipkart for a shorter period.
Benzinga  Feb 4  Comment 
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday February 3, 2016: ChemChina Offers to Acquire Syngenta for $43B The Offer: Syngenta announced Wednesday, that ChemChina has offered to acquire the...
Motley Fool  Feb 3  Comment 
A buyout offer has paid off nicely for investors today.
Benzinga  Feb 3  Comment 
China Ming Yang Wind Power Group Limited (NYSE: MY) today announced that it has entered into a definitive merger agreement (the "Merger Agreement") on February 2, 2016 pursuant to which the Company will be acquired by a consortium of investors...
Automotive World  Feb 1  Comment 
Today, Mazda Motor Corporation filed a safety defect report with the National Highway Traffic Safety Administration (NHTSA) to address a concern with 2014-2016 Model Year (MY) CX-5 vehicles. On all 2014-2016 MY CX-5 vehicles, the fuel filler pipe...




 
TOP CONTRIBUTORS

China Ming Yang Wind Power (NYSE:MY) is the largest, non-government controlled, Chinese company which manufactures, sells, and maintains mega-watt level wind turbines.The company sells its wind turbines mostly to the largest 5 energy producers in China. China Ming Yang also sells its turbines to alternate energy investment companies, regional power producers, and wind farms.[1]

Wind energy is one of the fastest growing sources of renewable energy. According to BTM Consult, a renewable energy focused consulting firm, wind power accounted for 1.6% of the total global production of electricity in 2009. That number is expected to rise to 8.4% by 2019. BTM also expects the the total energy capacity of installed wind turbines will rise by a compounded annual gross rate of 22.8% from 2009 to 2014. Wind turbines have grown particularly fast in China due to the support from the central government.[2]

The company's initial public offering of stock on the NYSE and occurred on September 30, 2010. The price range was $14-$16, and the stock priced at the low end of the range at $14. The company sold 25M ADS shares and raised $350M. The lead underwriters of the deal were Morgan Stanley (MS), Credit Suisse Group (CS), and Bank of America (BAC).[3]

The company's revenue figures rose by 834% - from 125M RMB in 2008 to 1.172B RMB 2009. This large jump in revenue is because the company only began to ramp up sales and production of its turbines during 2008. The company's net loss improved during this period from -500M RMB in 2008 to -223M RMB to 2009. The company plans to use the proceeds of its IPO to pay off debt obligations and fund growth and investments.[4]

References

  1. MY F-1 2010 "Prospectus Summary: Overview" pg 1-2
  2. MY F-1 2010 "Prospectus Summary: Our Industry" pg 2
  3. Renaissance Capital - IPO "China Ming Yang prices IPO at $14.00, low end of the range" 1 Oct 2010
  4. MY F-1 2010 "Summary Consolidated Financial and Operating Data" pg 0
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