Oct. 10 (Bloomberg) -- Xinjiang Goldwind Science & Technology Co., China’s biggest wind-turbine maker, rose to a 17-month high in Shenzhen on speculation of higher shipments.
It rose by the daily limit of 10 percent and ended the day up 5.6 percent at 7.79 yuan, the highest close since May 2012. The Shenzhen Stock Exchange Composite Index fell 0.7 percent.
“The market is speculating the company will have higher shipments in the second half,” Demi Zhu, a Beijing-based analyst at Bloomberg New Energy Finance, said today by phone. “Also Chinese turbine producers currently see an increase of about 6 percent in price from the average in the first half.”
Goldwind in August forecast profit will jump as much as fivefold in the first nine months on higher sales and cost cuts. It’s expected to announce third-quarter earnings on Oct. 25.
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