This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

China Ming Yang Wind Power Group's CEO Discusses Q1 2011 Results - Earnings Call Transcript

Before I provide the highlights of our results, I would like to provide a brief update of the development in China's wind power industry.

Firstly, in light of China's energy demands, and the unfortunate events at the Fukushima nuclear plant in Japan, wind energy will contribute a higher proportion of China's energy requirements, because of its inherent advantages including safe and reliable proven technology, lower development costs and, more importantly, emission free. Hence, we believe wind power will take a larger share among new energy, and become an important energy solution for China.

Secondly, the Government has implemented a range of policies designed to support the development of wind power industry, and to facilitate the more systematic development of the industry, from focusing on scale only, to focusing on returns on investment. This will be achieved through the development of national grids, enhancing the compatibility of the grid, and the scale of development. To resolve the grid connection issue, the State Grid Corporation of China has started to revamp the infrastructure of the grid facility nationwide.

In addition, wind power equipment market is getting more concentrated, with more shares taken by the top five players. MingYang, as a top three listed wind turbine manufacturers, with its quality products, well developed value chain, leading technology, and research capabilities, proven business models, we are confident to maintain our leading position in the market competition.

Thirdly, offshore wind power development, and decentralized and distributed style clean energy total solution, will become a new catalyst for the wind power industry in China. Guangdong, Shandong, Hebei, Jiangsu provinces have already finished the planning for 10 gigawatts wind power projects.

Among them, Guangdong has granted MingYang the development rights to lead the SCD offshore wind power projects. MingYang will utilize this opportunity, together with SCD WTG's unique technology, cost advantage, offshore project service capabilities, and support capabilities, as well as innovative business models, to push forward offshore wind power development in the country, while enabling MingYang to become the leader in offshore wind power space.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs