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What: Shares of wind-turbine manufacturer China Ming Yang Wind Power Group Ltd (UNKNOWN:MY.DL) jumped 15% today after reporting earnings.
So what: Shipments increased 57% from a year ago, to 386 MW, and revenue jumped 52%, to $196.9 million. On the bottom line, the company made a comprehensive income of $29.9 million, or $0.24 per share, a turnaround from a loss a year ago.
Now what: While the quarter was good from a production standpoint, it was also positive on the order side. The company took in 671.5 MW of new orders, and backlog now stands at 3.3 GW. China's wind market is growing at a rapid rate, and China Ming Yang Wind Power Group is one of the major beneficiaries right now.
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