China Ming Yang Wind Power Group Ltd. (MY) announced that it expects a loss for the fourth quarter and a decline of about 53% in revenue.
For the full year, the company expects profit to decline by about 59% as compared to 2010 and revenue for full year 2011 is expected to maintain at a similar level as 2010.
The company expects fourth quarter gross margin to be approximately 7% and about 18% for full year 2011, due to lower average selling price, reflecting increasingly competitive market pricing.
The company will announce its unaudited financial results for the fourth quarter and full year 2011 on March 29, 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.