Xinjiang Goldwind Falls Most in Four Months Ahead of EarningsBloomberg News
Shipments may fall to 2.1GW in 3Q, down from 2.3 GW a year ago
Goldwind is expected to announce quarterly earnings on Oct. 28
Xinjiang Goldwind Science & Technology Co., China’s biggest maker of wind turbines, fell the most in more than four months in Hong Kong trading ahead of its earnings announcement later this week.
The company declined by as much as 7.2 percent to HK$11.04 and traded at HK$11.80 as of 11:43 a.m. local time. This compares with a 0.3 percent gain in the benchmark Hang Seng Index.
The market is speculating the company will have lower shipments in the third quarter, said Keith Li, a Hong Kong-based analyst from CIMB Securities HK Ltd.
The company may deliver 2.1 gigawatts of turbines in the third quarter, down from as much as 2.3 gigawatts a year earlier, due to delayed wind farm construction in South China, Li said. “This will drive down profit from its turbine sales, given relatively stable selling prices and gross margins.”
The company is expected to announced its third-quarter earnings on Friday.
— With assistance by Feifei Shen