Sinovel Wind Sees 2013 Loss of $496 Million on Delayed Payments

Sinovel Wind Group (601558) Co., a Chinese wind-turbine maker, said its 2013 net loss may be about 3 billion yuan ($496 million) in part because of delayed payments by clients.

Sinovel had a net loss of 582.7 million yuan in 2012, according to a statement to the Shanghai Stock Exchange. The exchange will consider placing the stock on the watchlist for possible delisting because it may have losses for two consecutive years, according to the statement. Its bonds also face a temporary suspension.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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