QUOTE AND NEWS
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...
newratings.com  Feb 3  Comment 
WASHINGTON (dpa-AFX) - Crude oil prices tumbled Monday amid lingering doubts about the health of the global economy. A global supply glut is also weighing on prices. Iranian oil is coming to market while OPEC is refusing to curb...
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...
The Economist  Dec 31  Comment 
MY COLUMN this week sets out three possible scenarios for the American economy in 2016, in the aftermath of the Fed's first rate hike in more than nine years. Each scenario corresponds to an understanding of why it is that near-zero interest...
newratings.com  Nov 17  Comment 
BEIJING (dpa-AFX) - While reporting its financial results for the third quarter today, wind turbine manufacturer China Ming Yang Wind Power Group Ltd. (MY) provided financial outlook for the fourth quarter. For the fourth quarter, the company...
newratings.com  Nov 17  Comment 
BEIJING (dpa-AFX) - China Ming Yang Wind Power Group Ltd. (MY) announced a profit for its third quarter that increased from last year. The company said its bottom line advanced to RMB91.53 million, or RMB0.59 per share. This was higher than...
Benzinga  Nov 17  Comment 
China Ming Yang Wind Power Group Limited (NYSE: MY) today announced that its Board of Directors (the "Board") has formed a special committee of independent directors (the "Special Committee") to evaluate the preliminary non-binding proposal letter...




 
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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