Goldwind’s Full-Year Profit Falls 75% on Industry Downturn

Xinjiang Goldwind Science & Technology Co., China’s biggest maker of wind turbines, said profit fell 75 percent last year as turbine sales declined in its home market.

Net income was 153.1 million yuan ($25 million) in 2012, compared with 606.7 million yuan a year earlier, Goldwind said in a statement of preliminary results to the Hong Kong stock exchange today. That compares with a 172 million-yuan mean estimate in a survey of eight analysts compiled by Bloomberg.