Top Wind-Turbine Maker Reports Soaring Profit on Falling Costs
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Goldwind Science & Technology Co., the world’s biggest wind-turbine manufacturer, reported third-quarter profit growth thanks to lower production costs and China’s rapid buildout of clean energy.
Net income soared to 405.3 million yuan ($56.9 million) for the quarter ended Sept. 30, 43 times more than in the same period last year, the company said in a statement on Friday. Revenue grew 52% on year to 15.6 billion yuan.