QUOTE AND NEWS
Benzinga  Oct 10  Comment 
China Ming Yang Wind Power Group Limited ("Ming Yang" or "the Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced the appointment of Mr. Jinfa Wang as a member of the board of directors. He will succeed Mr. Xueyong...
The Australian  Sep 3  Comment 
MY report revealing the ease with which financial planning diplomas can be earned prompted a wave of feedback from readers.
TheStreet.com  Aug 25  Comment 
NEW YORK (TheStreet) --aChina Ming Yang Wind Power was falling -6.9% to $3.13 Monday after reporting its second quarter results. For the second quarter the company reported earnings of RMB0.11 a share, up from a loss of RMB0.51 a share in the...
SeekingAlpha  Aug 25  Comment 
By SA Transcripts: China Ming Yang Wind Power Group Limited (NYSE:MY) Q2 2014 Earnings Conference Call August 25, 2014 8:00 am ET Executives Beatrice Li - Director, IR Chuanwei Zhang - Chairman, CEO Calvin Lau - CFO Analysts ...
SeekingAlpha  Aug 12  Comment 
By Cam Hui: Back in 2011, I wrote about how US age demographics was likely to drive a new secular bull market at the end of this decade (see Wait 8 years for a new bull?). I cited research from a team of academics led by John Geanakoplos who...
newratings.com  Aug 7  Comment 
Alpha Returns Group PLC ("Alpha Returns" or the "Company") 7 August 2014 Completion of Joint Venture acquisition of MY Securities Limited The Board of Alpha Returns, the AIM traded investing company...




 
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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