April 15, 2013
/PRNewswire/ -- China Ming Yang Wind Power Group Limited ("
" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in
, today announced that through its subsidiary,
Ming Yang Wind Power
(International) Co., Ltd., the Company had sold all 141,062,000 of its shares of Huadian Fuxin Energy Corporation Limited ("Huadian Fuxin") (HKEx: 00816) for an aggregate consideration of approximately
. The shares were acquired for an aggregate consideration of approximately
in connection with Huadian Fuxin's initial public offering ("IPO") in
and listing on the Hong Kong Stock Exchange in
"We invested in Huadian Fuxin's IPO last year to demonstrate our commitment to our strategic working relationship with Huadian Fuxin and its parent company, China Huadian Corporation, and continue to be excited about the potential opportunities for our companies to work together," said
, Chairman and Chief Executive Officer of
. "The funds received from the sale are expected to be available for working capital to enable us to continue to enhance our abilities to increase shareholder value."
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations, results of and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond
's control, which may cause
's actual results, performance or achievements to differ materially from those in the forward-looking statements. Transactions contemplated in this press release also involve risks and uncertainties and are subject to changes and developments. Actual results or events may differ from those anticipated or predicted in this press release, and the differences may be material. Further information regarding these and other risks, uncertainties or factors is included in
's filings with the U.S. Securities and Exchange Commission.
does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
About China Ming Yang Wind Power Group Limited
China Ming Yang Wind Power Group Limited (NYSE: MY) is a leading wind turbine manufacturer in
, focusing on designing, manufacturing, selling and servicing megawatt-class wind turbines.
produces advanced, highly adaptable wind turbines with high energy output and provides customers with comprehensive post-sales services.
cooperates with aerodyne Energiesysteme, one of the world's leading wind turbine design firms based in
, to co-develop wind turbines. In terms of newly installed capacity,
was a top 10 wind turbine manufacturer worldwide and the largest non-state owned wind turbine manufacturer in
For further information, please visit the Company's website:
For investor and media inquiries, please contact:China Ming Yang Wind Power Group Limited
SOURCE China Ming Yang Wind Power Group Limited