China Ming Yang Wind Power Group (Ming Yang) announced its unaudited financial results for the quarter and the full year ended December 31, 2015.
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Q4 total revenue was RMB2,160.3 million ($333.5 million), compared to RMB1,996.0 million in the fourth quarter of 2014.
Gross profit was RMB342.4 million ($52.9 million), compared to RMB271.9 million in the fourth quarter of 2014.
Gross margin was 15.8%, compared to 13.6% in the fourth quarter of 2014.
Profit for the period was RMB77.5 million ($12.0 million), compared to RMB84.0 million in the fourth quarter of 2014.
Total comprehensive income was RMB85.9 million ($13.3 million), compared to RMB80.9 million in the fourth quarter of 2014. Basic and diluted earnings per share were RMB0.47($0.07) and RMB0.46 ($0.07), respectively, compared to basic and diluted earnings per share of RMB0.68 and RMB0.66, respectively, in the fourth quarter of 2014.
Total wind turbine generators ("WTG"s) for which revenue was recognized amounted to an equivalent wind power project output of 626.5MW, representing 159 units of 1.5MW WTGs and 194 units of 2.0MW WTGs, compared to 638MW in the fourth quarter of 2014.
Full year 2015
Total revenue was RMB6,797.1 million ($1,049.3 million), compared to RMB5,872.4 million in 2014.
Gross profit was RMB1,103.5 million ($170.3 million), compared to RMB813.1 million in 2014. Gross margin was 16.2%, compared to 13.8% in 2014.
Profit for the year was RMB277.8 million ($42.9 million), compared to RMB354.5 million in 2014.
Total comprehensive income was RMB298.6 million ($46.1 million), compared to RMB350.0 million in 2014. Basic and diluted earnings per share were RMB1.90($0.29) and RMB1.88($0.29), respectively, compared to basic and diluted earnings per share of RMB2.90andRMB2.86, respectively, in 2014.
Total wind turbine generators (WTGs) for which revenue was recognized amounted to an equivalent wind power project output of 2,032.5MW, representing 507 units of 1.5MW WTGs and 636 units of 2.0MW WTGs, compared to 1,852MW in 2014. ■