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Stock Market & Financial Investment News

News Breaks
November 26, 2012
05:48 EDTMYChina Ming Yang Wind Power signs financing framework agreements
China Ming Yang Wind Power Group announced that Guangdong Mingyang Wind Power Industry Group Limited, a subsidiary of Ming Yang, has entered into a financing framework agreement with Reliance Power Limited, both in capacity under development as well as market capitalization, and China Development Bank Corporation, a government policy bank wholly owned by China's central government, under which CDB is expected to act as the coordinating bank and lead potential lender for renewable energy projects in India to be jointly developed by Ming Yang and Reliance Power.
News For MY From The Last 14 Days
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May 27, 2015
07:57 EDTMYChina Ming Yang Wind Power sees Q2 revenue RMB 1.4B- RMB 1.6B
Sees Q2 net profit in range of RMB 50M- RMB 55M.
07:54 EDTMYChina Ming Yang Wind Power backs FY15 FY15 RMB7.2B-RMB8.0B
Backs FY15 revenue to be RMB7.2B-RMB8.0B, representing an increase of 23% to 36% comparing with the FY14, its estimated net income RMB290M-RMB320M, representing an increase of 26% to 39% comparing with the net income excluding gain on loss of control of GWPL for the year of 2014, and Its estimated gross margin and operating income margin for the year of 2015to be in the range of 13% to 14% and 7% to 8%, respectively.
07:53 EDTMYChina Ming Yang Wind Power sees Q2 revenue RMB 1.4B- RMB 1.6B
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07:52 EDTMYChina Ming Yang Wind Power reports Q1 total WTGs amounted to 406GW
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07:52 EDTMYChina Ming Yang Wind Power reports Q1 EPS 5.2c or RMB 32c vs. RMB 1.51 last year
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May 18, 2015
08:57 EDTMYChina Ming Yang Wind Power acquires RENenergy
China Ming Yang Wind Power announced that Ming Yang has entered into share purchase agreements on May 18, 2015 pursuant to which it has acquired a 99% stake in China Smart Electric Group Limited, a Cayman Islands company. China Smart owns all of the equity interest in Wise Renergy Holdings Limited, a Hong Kong company, which in turn owns all of the equity interests in mainland China-based subsidiaries, Tianjin REnergy Electrical Co., Ltd. and Tianjin Ruiyuan Electrical Co., Ltd. The closing of the acquisition of the 99% interest in China Smart is expected to occur on or about May 20, 2015. Ming Yang expects to acquire the remaining 1% stake in RENergy in the near future. In exchange for a 100% stake in RENergy, Ming Yang will pay a total purchase consideration of approximately $149M. This consideration will be paid in a combination of cash and newly issued shares in Ming Yang. The cash portion of the purchase consideration will comprise $48.3M, with 60% of this amount to be paid within three months, 20% to be paid within six months, and the remaining 20% to be paid within twelve months, from May 18, 2015. The share portion of the purchase consideration will comprise 28,861,709 ordinary shares in Ming Yang which are to be newly issued at US$3.49 per ordinary share, representing a premium of 5.9%, 14.5% and 19.6%, respectively, compared with the 30, 60 and 90 trading days volume-weighted average price of Ming Yang's American Depositary Shares, each representing one ordinary share of Ming Yang, as of May 15,2015.

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