Sinovel Wind's Loss Widens on Fewer Orders, Asset Impairment
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Sinovel Wind Group Co., once China’s biggest supplier of wind turbines, said its loss more than doubled in the first half as orders fell and asset-impairment losses increased.
The net loss was 864.6 million yuan ($135 million) in the first six months ended June 30, compared with a revised net loss of 371.3 million yuan a year ago, the Chinese wind-turbine maker said in a statement to the Shanghai stock exchange. Sales tumbled 76 percent to 483.8 million yuan.