Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of China Ming Yang Wind Power Group Ltd (NYSE: MY) jumped as much as 13% today after the company reported earnings.
So what: Fourth-quarter wind turbines commissioned jumped 263.5% to 638 MW as China boosted its investment in renewable energy. Total revenue jumped 268.8% to $321.7 million and total comprehensive income was $13.0 million, or $0.11 per share.
Now what: In 2015, management expects revenue to grow 23%-36% to $1.16 billion-$1.29 billion and net income to increase 26%-39% to $46.8 million-$51.6 million.
China's investment in renewable energy doesn't show any sign of slowing in 2015, driven by the fact that air quality in some of the country's largest cities is at dangerous levels. Still, I'm not a buyer of China Ming Yang Wind Power today, given the risks of investing in China and the low profitability in an unusually high-demand environment, but today's results were encouraging.
