The net profit of Mingyang Smart Energy Group Co., Ltd. is expected to rise by 34.80%-67.75% year on year, reaching 450 million-560 million yuan ($64.09-79.75 million) in the first half of 2020, according to the company's statement on July 7.
It ranked 37th among the global top 500 new energy companies, and ranked first in global offshore wind power innovation firms. Its headquarters are located in Zhongshan city, Guangdong province in southern China.
Mingyang's main businesses comprise two parts. One is the research, production, sales and intelligent operation of large-scale wind turbines and the core components; the other is the development, investment, construction and intelligent operation and management of wind farms and photovoltaic power plants.
Mingyang Smart Energy achieved operating revenue of 10.49 billion yuan ($1.5 billion) in 2019, jumping 52.03% from the previous year. As of the end of 2019, the company had signed orders of approximately 15 GW.
Mingyang Smart Energy will play an important role in Guangdong province's plan to develop 66.85 GW offshore wind power. The company has great potential to compete in the incremental offshore wind power market, as China promotes marine economic strategy and advance the construction of Guangdong-Hong Kong-Macao Green Greater Bay Area.
(Writing by Shengnan Liu Editing by Jessie Jia)
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