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China Ming Yang Wind Power (MY)
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MY Reports Fourth Quarter and Full Year 2011 Results
PR Newswire  Mar 30  Comment 
ZHONGSHAN, China, March 30, 2012 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced its unaudited financial results for the fourth
China Ming Yang Wind Power (MY) Gets 125MW Wind Farm Deal, Looking More Bullish
Green Stocks Central  Feb 8  Comment 
Wind energy stocks have had the breeze at their back recently and China Ming Yang Wind Power (MY) has benefited from a resurgence in the sector.  The company also announced some good news yesterday in the form of an EPC contract for two wind...
MY Signed EPC Contracts for 125 MW Wind Power Projects in Bulgaria
OilVoice  Feb 7  Comment 
China Ming Yang Wind Power Group a leading wind turbine manufacturer in China today announced that Ming Yang Wind Power International Co. Ltd quotMing Yang Internationalquot a subsidiary of
China Ming Yang Wind Power Group Trading 2.6% Higher on Heavy Volume; Currently at $2.96
Benzinga  Jan 20  Comment 
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
American Superconductor and China Ming Yang Wind Navigate Challenging Competitive Landscape
Marketwire  Jan 17  Comment 
NEW YORK, NY -- (Marketwire) -- 01/17/12 -- Renewable energy stocks have struggled immensely in the past year, with several companies facing margin squeezes due to overcapacity and plunging prices caused by a surge in manufacturing and competition
ME AND MY MONEY
The Globe and Mail  Jan 6  Comment 
Teen who trades before and after school takes a short-term approach
Vehicle ownership transfer via MyEG
Business Times - Malaysia  Dec 15  Comment 
Malaysia's e-government services provider MY E.G. Services MyEG) Bhd, will launch a new service next month to facilitate the online transfer of vehicle ownership via its website. The service will be under the purview of the Road Transport...
Those Acquisitions Aren't MY Fault!
Barel Karsan  Nov 28  Comment 
On this site, corporate managers have been berated for making risky acquisitions, especially at high multiples and especially when buybacks would generate strong returns for shareholders. But perhaps it's not always their fault. In an interesting...
US leading index jumped 0.9% in Oct
FX Street  Nov 21  Comment 
Market wrap Markets stabilised on Friday, risk sentiment fi rmer until the MY morning but then... For more information, read our latest forex news and reports.




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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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