China Ming Yang Wind Power Ranks 8th in World's Top 10 Wind Turbine OEMs, according to figures released by MAKE Consulting
ZHONGSHAN, China, March 25, 2015 /PRNewswire/ -- China Ming Yang Wind Power Group Limited (NYSE: MY) ("Ming Yang" or the "Company"), takes 8th in world's top 10 wind turbine original equipment manufacturers ("OEMs") ranking in 2014, raised from 9th last year, according to the report of Global Wind Turbine OEM Market Share Study released by MAKE Consulting. The same source reveals that the market share of Ming Yang hit 9.9% in total in 2014, with an 11.1% increase of the whole market growth. Ming Yang was also one of the only two Chinese companies that retained its position compared to 2013.
The report also shows that 8 out of the 15 world's top OEMs in 2014 were from China. "China's unparalleled growth dominates the industry," cited the report, which says the Chinese wind market grew 23.6GW in 2014, reaching 114.9GW in total.
Statistics provided by Global Wind Energy Council ("GWEC") reaffirmed MAKE's point with its research, showing that China's newly installed capacity and cumulative installed capacity were 23,351 MW and 114,763 MW, respectively, representing approximately 45% and 31% of the world's total newly and cumulative installed capacity in 2014, claiming the crown.
MAKE projects the global wind market to further grow annually by over 13% in 2015, in its newly released first quarter Global Wind Power Market Outlook Update in March 2015.
About China Ming Yang Wind Power Group Limited
China Ming Yang Wind Power Group Limited (NYSE: MY) is a leading wind turbine manufacturer in China, focusing on designing, manufacturing, selling and servicing megawatt-class wind turbines. Ming Yang produces advanced, highly adaptable wind turbines with high energy output and provides customers with comprehensive post-sales services. Ming Yang cooperates with aerodyne Energiesysteme, one of the world's leading wind turbine design firms based in Germany, to co-develop wind turbines. In terms of newly installed capacity, Ming Yang was a top 10 wind turbine manufacturer worldwide and the largest non-state owned wind turbine manufacturer in China in 2013.
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," "to be," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "goal," "strategy" and similar statements. Such statements are based upon management's current expectations 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 Ming Yang's control, which may cause Ming Yang's actual results, performance or achievements to differ materially from those in the forward-looking statements. 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 Ming Yang's filings with the U.S. Securities and Exchange Commission. Ming Yang 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.
For further information, please visit the Company's website: ir.mywind.com.cn.
For investor and media inquiries, please contact:
Investor and Media Contacts:
China Ming Yang Wind Power Group Limited
Johnson Zhang
+86-760-2813-8898
[email protected]
http://ir.mywind.com.cn
SOURCE China Ming Yang Wind Power Group Limited
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