China Ming Yang Wind (NYSE:MY)

Fourth Quarter 2012 Financial Results:

• Total revenue was RMB900.7 million (US$144.6 million), an increase of 11.4% compared to Q4 2011.
• Gross profit was RMB76.2 million (US$12.2 million), an increase of 34.6% compared to Q4 2011. Gross margin was 8.5%, compared to 7.0% in Q4 2011.
• Total comprehensive loss was RMB164.9 million (US$26.5 million), compared to total comprehensive loss of RMB128.7 million in Q4 2011.
• Basic and diluted loss per share was RMB1.16 (US$0.19), compared to basic and diluted loss per share of RMB0.96 in Q4 2011.

"2012 was a very tough year not just for us but also for the whole industry around the world," commented Mr.Chuanwei Zhang, chairman and chief executive officer of Ming Yang. "Despite difficult market conditions, we have managed to increase our market share in China to 8.7% in 2012 compared to the previous year 6.7% according to Chinese Wind Energy Association. As the grid connection issues gradually get resolved, we should continue to see utilization hours of wind farms increase, further enhancing wind as a viable alternative source of power in China."

"Furthermore, the market has started to shift from the traditional 1.5MW-class WTGs to 2.0MW and above WTGs where we believe pricing is firmer and there is more room for manufacturing cost reductions. We have already seen WTG pricing moving towards RMB 4,000 per kW and would not be surprised to see the average price per kW exceeding that level by the end of 2013."

"We have decided to take advantage of the market opportunities presented to us. We have also made some changes to our management team and the board of directors in order to enhance our ability to execute our business strategies. We continue to be optimistic about the opportunities in the wind power market that exist in China and India and are confident that our competitive cost advantage would enable us to further establish ourselves in these respective markets. Last but not least, we expect our first off-shore wind power project to begin construction in the second half of this year and continue to view the off-shore market positively."

ZHONGSHAN, China, April 15, 2013 /PRNewswire/ -- China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced that through its subsidiary, Ming Yang Wind Power (International) Co., Ltd., the Company had sold all 141,062,000 of its shares of Huadian Fuxin Energy Corporation Limited ("Huadian Fuxin") (HKEx: 00816) for an aggregate consideration of approximately US$35.5 million as of April 12. The shares were acquired for an aggregate consideration of approximately US$30.0 million in connection with Huadian Fuxin's initial public offering ("IPO") in Hong Kong and listing on the Hong Kong Stock Exchange in June 2012.

"We invested in Huadian Fuxin's IPO last year to demonstrate our commitment to our strategic working relationship with Huadian Fuxin and its parent company, China Huadian Corporation, and continue to be excited about the potential opportunities for our companies to work together," said Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang. "The funds received from the sale are expected to be available for working capital to enable us to continue to enhance our abilities to increase shareholder value."

Third Quarter 2012 Unaudited Financial Results

• Revenue in the third quarter of 2012 was RMB787.8 million (US$125.3 million), representing a decrease of 58.6% from RMB1,904.8 million in the corresponding period in 2011.
• Gross profit in the third quarter of 2012 was RMB137.2 million (US$21.8 million), representing a decrease of 55.1% from RMB305.6 million for the corresponding period in 2011.
• Total comprehensive income was RMB4.9 million (US$0.8 million), a decrease of 94.4% compared to Q3 2011.
• Basic and diluted earnings per share was RMB0.03 (US$0.005), compared to RMB0.82 in Q3 2011.

Mr. Zhang commented, "Our financial performance in the third quarter continued to improve over the previous quarter, with gross margin improving by approximately 2.9% and operating margin improving by 3.0%. Ming Yang intends to provide its customers with the best solutions in wind power generation through a range of customized products and services. We aim to deliver our products and services with higher power generation, higher efficiency and better reliability at lower cost of energy. We are glad that our new order intake during the third quarter was 302MW, including 123 units for our new 2.0MW WTGs, and we look forward to expanding our market presence in the 2.0MW plus WTG market in China."

"During this quarter, we had formed a strategic partnership with Reliance Group of India which is a significant development of our overseas market strategy. We continue to work with key domestic players, including Huaneng Renewables and CGNPC, on wind power project development in China. Again, this is testament to our commitment of offering superior products and services to our customers."

Mr. Zhang concluded, "We continue to invest for the future, and we believe that our customized business model will continue to help Ming Yang capitalize on market opportunities both in China and overseas markets, and bolster its competitiveness despite challenging market conditions."

ZHONGSHAN, China, August 31, 2012 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("Ming Yang") (NYSE: MY), a leading wind turbine manufacturer in China, today announced that Guangdong Mingyang Wind Power Group Limited ("Guangdong Mingyang"), a subsidiary of Ming Yang, has formed a joint venture (the "Joint Venture") with Huaneng Renewables Corporation Limited ("Huaneng Renewables") (HKEx Stock Code: 0958) specializing in the development of wind and solar power projects in China and overseas markets.

Huaneng Renewables, a subsidiary of China Huaneng Group, is a leading pure-play renewable energy company in China focusing on wind power generation. Huaneng Renewables will have 63% shareholding in the Joint Venture, and Guangdong Mingyang will own the remaining 37%. The Joint Venture will focus on developing and operating wind and solar power projects primarily in Southern China, with an aim to becoming a national and international developer and operator of high quality wind power farms.

"This Joint Venture marks an important milestone in the development of Ming Yang's strategic alliances in the wind power sector," said Chuanwei Zhang, the Chairman and Chief Executive Officer of Ming Yang. "Through this Joint Venture, we have set our sights on becoming the leading wind power farm developer and operator not only in Southern China, but also extending our reach nationwide and overseas in the future. We are delighted to expand our strategic partnership with Huaneng Renewables, and look forward to a successful partnership."

Gang Lin, the Executive Director and President of Huaneng Renewables, said, "We are glad to form this Joint Venture with Ming Yang. Ming Yang's leading position in Guangdong province and its wind resources secured in that area offer us geographical advantages in Southern China. Leveraging our expertise across China, we are confident that the Joint Venture can replicate our success nationwide and beyond. "

ZHONGSHAN, China, June 28, 2012 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced that through its subsidiary, Ming Yang Wind Power (International) Co., Ltd ("Ming Yang International"), the Company purchased 141,062,000 shares of Huadian Fuxin Energy Corporation Limited ("Huadian Fuxin") (HKEx: 00816) for an aggregate consideration of approximately US$30.0 million in connection with Huadian Fuxin's initial public offering ("IPO") in Hong Kong and listing on the Hong Kong Stock Exchange on June 28, 2012.

Huadian Fuxin is a leading diversified clean energy company in China, primarily engaged in the development, management and operation of hydropower projects and coal-fired power plants in Fujian province, along with wind power and other clean energy projects throughout China. It serves as the principal platform for the development of China Huadian Corporation's clean energy businesses. According to its IPO prospectus, as of December 31, 2011, Huadian Fuxin reached a consolidated installed capacity of 6,524.1MW into operation, including 2,223.4MW of hydropower, 2,171.3MW of wind power, 2,050.0MW of coal-fired power and 79.4MW of other types of clean energy.

"We are very pleased to have this opportunity to build up our strategic relationship with Huadian Fuxin," said Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang. "Huadian Fuxin, a subsidiary of China Huadian Corporation, has built a strong reputation in developing renewable energy in China. China Huadian Corporation, together with its affiliates, has been a major customer of Ming Yang. We are excited about the potential opportunities that are set to grow between Ming Yang and Huadian Fuxin, given our advantages in technology innovation in the wind power industry.

ZHONGSHAN, China, July 11, 2012 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced that it has signed a cooperative agreement (the "Agreement") with Huaneng Renewables Corporation Limited ("Huaneng Renewables") (HKEx: 0958), contemplating the establishment of a joint venture (the "Joint Venture") specializing in the development of wind power and solar projects in China and overseas markets. Under the Agreement, the Joint Venture in contemplation will be controlled by Huaneng Renewables.

"We are glad to expand our partnership with Huaneng Renewables through the Agreement to form the Joint Venture," said Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang. "Huaneng Renewables is an established wind energy generator with a strong track record in wind farm development and operation in China. Partnering with Huaneng Renewables represents an important strategic development for Ming Yang and we look forward to the establishment of this Joint Venture as a pioneer in the industry to jointly develop quality wind farm projects in China."

Gang Lin, Executive Director and President of Huaneng Renewables, said, "We are delighted about this cooperation. Ming Yang is a leading manufacturer in the wind industry, and has secured an abundance of prime wind resources in China. This cooperation will be of great importance for Huaneng Renewables' acceleration of strategic development in the wind power industry."

ZHONGSHAN, China, July 5, 2012 /PRNewswire-Asia/ -- "China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced that the Company, through Ming Yang Holdings (Singapore) Pte. Ltd. ("Ming Yang Singapore"), its Singapore subsidiary, has entered into a Shareholders Agreement and Share Subscription Agreement ("the Agreements") with Reliance Capital Limited ("Reliance Capital"), Reliance Net Limited and Reliance Shares and Stock Brokers Limited, three subsidiaries of Reliance Anil Dhirubhai Ambani Group ("Reliance"), one of India's largest private enterprises," said Mr. Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang, in an interview with Southern Daily.

Mr. Chuanwei Zhang said in the interview: "Under the Agreements, Ming Yang Singapore will establish a joint venture with Reliance Capital and subscribe to newly issued shares of Global Wind Power Limited ("GWPL"), a leading wind power solutions provider in India and a current subsidiary of Reliance, representing 55% of its fully diluted share capital, accomplishing substantive shareholding at a consideration of US$25.0 million. In addition, Ming Yang has signed a Memorandum of Understanding ("MOU") with Reliance Power Limited ("Reliance Power"), one of the subsidiaries of Reliance, to co-develop clean energy projects with a total potential output capacity of 2,500MW in India in the next three years. According to the MOU, the Company is expected to supply multi-megawatt wind turbine, major parts and engineering services through GWPL and provide engineering, procurement and construction ("EPC") total solutions, including micro-siting, wind resource assessment studies, project financing and other services for the proposed projects, as well as value-added paid maintenance services upon completion of the projects. Reliance Power is expected to take a leading role in facilitating these proposed projects in addition to providing local market support."

"We are delighted to form this strategic partnership with Reliance, and this is a milestone of Ming Yang's development in South Asian region, and in particular India which is going to be the fastest growing renewable market in the next few years." said Mr. Zhang in the interview. "Reliance is the leading player in India's utility sector, committed to clean energy development, and our strategic partnership is another strong endorsement of our capabilities in overseas markets, where we offer total solutions by combining equipment, technology innovation and financing support. This platform between Reliance and Ming Yang will enable us to quickly capture and grow India and South Asia markets. We are confident that our international market development will gather great momentum and further drive the Company's growth."

ZHONGSHAN, China, July 3, 2012 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced that the Company, through Ming Yang Holdings (Singapore) Pte. Ltd. ("Ming Yang Singapore"), its Singapore subsidiary, has entered into definitive agreements with Reliance Capital Limited and its related entities, forming part of Reliance Group ("Reliance"), one of India's largest private enterprises.

In addition, the Company has signed a Memorandum of Understanding ("MOU", together with the definitive agreements above mentioned, "Agreements") with Reliance Power Limited ("Reliance Power"), the largest private sector power company in India, both, in capacity under development as well as Market Cap, to co-develop a large portfolio of clean energy projects.

Under the Agreements, Ming Yang Singapore plans to establish a joint venture with Reliance Capital by subscribing new shares to a significant stake in the share capital of Global Wind Power Limited ("GWPL"), a leading wind power solutions provider in India, in which Reliance Capital Limited and its related entities are currently the largest shareholders. Full release.

ZHONGSHAN, China, June 28, 2012 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced that through its subsidiary, Ming Yang Wind Power (International) Co., Ltd ("Ming Yang International"), the Company purchased 141,062,000 shares of Huadian Fuxin Energy Corporation Limited ("Huadian Fuxin") (HKEx: 00816) for an aggregate consideration of approximately US$30.0 million in connection with Huadian Fuxin's initial public offering ("IPO") in Hong Kong and listing on the Hong Kong Stock Exchange on June 28, 2012.

Huadian Fuxin is a leading diversified clean energy company in China, primarily engaged in the development, management and operation of hydropower projects and coal-fired power plants in Fujian province, along with wind power and other clean energy projects throughout China. It serves as the principal platform for the development of China Huadian Corporation's clean energy businesses. According to its IPO prospectus, as of December 31, 2011, Huadian Fuxin reached a consolidated installed capacity of 6,524.1MW into operation, including 2,223.4MW of hydropower, 2,171.3MW of wind power, 2,050.0MW of coal-fired power and 79.4MW of other types of clean energy.

"We are very pleased to have this opportunity to build up our strategic relationship with Huadian Fuxin," said Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang. "Huadian Fuxin, a subsidiary of China Huadian Corporation, has built a strong reputation in developing renewable energy in China. China Huadian Corporation, together with its affiliates, has been a major customer of Ming Yang. We are excited about the potential opportunities that are set to grow between Ming Yang and Huadian Fuxin, given our advantages in technology innovation in the wind power industry.

First Quarter 2012 Results

• Total wind turbine generators ("WTGs") for which revenue was recognized amounted to an equivalent wind power project output of 120MW, or 80 units of 1.5MW WTGs, a decrease of 60.0% compared to Q1 2011.
  
• Total revenue was RMB406.6 million (US$64.6 million), a decrease of 70.9% compared to Q1 2011.
  
• Gross profit was RMB40.5 million (US$6.4 million), a decrease of 88.9% compared to Q1 2011. Gross margin was 10.0% for Q1 2012, compared to 26.0% in Q1 2011.
  
• Total comprehensive loss was RMB116.2 million (US$18.5 million), compared to a total comprehensive income of RMB218.8 million in Q1 2011.
  
• Basic and diluted loss per share was RMB0.93 (US$0.15), compared to basic and diluted earnings per share of RMB1.80 for Q1 2011.

Mr. Chuanwei Zhang, Chairman and CEO of Ming Yang, commented on the first quarter results, "The growth of China's wind power industry is slowing down with a more stringent project approval process, a step in the evolution of the industry. Increased price competition and decreased demand also trimmed the margins of China's WTG manufacturers. Against this backdrop and coupled with continued adverse winter weather, our performance in the first quarter was adversely impacted. Gross margin in the quarter, however, showed moderate improvement compared with the previous quarter, primarily due to a more stable average selling price ("ASP")."

"It is expected that the wind power industry in China will continue to face challenges, with an estimated further reduced newly installed capacity in 2012. Nevertheless, the unusually demanding industry environment may prompt further market consolidation from which we believe we will benefit as a leading market player."

"As the largest non-state owned WTG manufacturer in China and a top ten WTG manufacturer globally, we believe Ming Yang is well-positioned to continue to strengthen its leading market position with a sharp focus on product quality, research and development, innovative business model and cost competitiveness. We are confident that we can capitalize on market opportunities in China and the international markets and retain our competitiveness both during and after this market downturn."

Mr. Zhang continued: "We are pleased to announce two new appointments which represent our commitment to strengthen the breadth and depth of the management team of the international markets. With Mr. Manfred Loong's stature and extensive experience with multinationals and our Company, he has been promoted to CEO of Ming Yang International because he is the best candidate to carry out our strategic overseas investments and international expansion initiatives going forward. We are also pleased to welcome Mr. Vincent Pang to our senior management team as our new CFO. Mr. Pang has an impressive background reinforced with extensive finance and accounting expertise, and we look forward to the significant benefits he will bring to Ming Yang."

Share Repurchase Program

During the first quarter of 2012, the Company repurchased 903,946 ADSs, representing 903,946 ordinary shares, for an aggregate consideration of US$2.1 million (including commissions), under its share repurchase program. Since the inception of the program, Ming Yang has repurchased an aggregate of 3,153,897 ADSs, representing 3,153,897 ordinary shares, for an aggregate consideration of US$8.7 million including commissions.

Preliminary First Quarter of 2012 Selected Unaudited Financial Results

The Company's financial statements for the first quarter of 2012 have not been finalized and are subject to completion of its normal period-end closing procedures. Therefore, the preliminary selected unaudited financial data set forth below may be subject to adjustment and the actual results could differ materially from the preliminary results provided below.

• Revenue for the first quarter of 2012 is expected to be between RMB400.0 million (US$63.5 million) and RMB410.0 million (US$65.1 million), a decline of approximately 70% year-over-year
•  Gross margin in the first quarter of 2012 is expected to be approximately 10%.
• As a result, the Company expects to incur a total comprehensive loss for the first quarter of 2012 between RMB110.0 million (US$17.5 million) and RMB120.0 million (US$19.1 million).

Fourth Quarter 2011 Financial Highlights:

• Total wind turbine generators ("WTGs") commissioned amounted to an equivalent wind power project output of 250.5MW, or 167 units of 1.5MW WTGs, representing a decrease of 34.0% compared to Q4 2010.
• Total revenue was RMB808.3 million (US$128.4 million), representing a decrease of 52.8% compared to Q4 2010.
• Gross profit was RMB56.6 million (US$9.0 million), representing a decrease of 85.2% compared to Q4 2010. Gross margin was 7.0% for Q4 2011, compared to 22.3% in Q4 2010.
• Total comprehensive loss was RMB128.7 million (US$20.5 million), compared to a total comprehensive income of RMB212.2 million in Q4 2010.
• Basic and diluted loss per share was RMB0.96 (US$0.15), compared to basic and diluted earnings per share of RMB1.83 for Q4 2010.

"2011 was a particularly challenging year for the wind power industry in China, highlighted by lower demand in the wake of significant growth from the previous years, and as a result the industry has shifted its focus from size and speed to quality and efficiency," commented Mr. Chuanwei Zhang, Chairman and CEO of Ming Yang. "Against this industrial slow-down, I am pleased to report that Ming Yang has continued to see sustained demand through the full year 2011, and has also been able to reach its targeted gross margin on an annual basis, despite the previously announced delays in revenue recognition and overall market softness impacting performance and results in the fourth quarter."

"The Company has further strengthened and enhanced its market position." Mr. Chuanwei Zhang continued, "According to recent industry reports, Ming Yang was among the top four China-based WTG manufacturers and globally among the top ten WTG manufacturers in 2011, based on MWs of its newly installed WTGs in 2011. This was largely contributable to our focus on product quality, research and development, our innovative business model and our cost competitiveness, as well as the successful implementation of our client and market development strategies."

"Looking ahead, we believe that the wind power industry will maintain solid growth over the long term, and will continue to focus on quality and efficiency, despite the continued challenges we expect in the industry. As ofDecember 31, 2011, our order backlog amounted to 2.1 GW and cumulative signed orders since our inception amounted to 5.0 GW. As our track record shows, we believe Ming Yang is well-positioned to leverage on its core strengths in quality and innovation to capture market opportunities, enhance its market leadership and grow its market share. We have already seen the average selling price ("ASP") of WTGs begin to recover during the first quarter of 2012, which we believe will partially ease the pressure on our gross margin in the ensuing quarters."

Mr. Zhang added, "Ming Yang has also initiated an important step in international market expansion with theBulgaria projects. We believe that, with the advantages in cost competitiveness and innovative business solutions,Ming Yang's international market development will further enhance its leadership in the industry in the future. Our new research and development center in North Carolina is also expected to provide solutions for us to lower the cost of energy and further increase reliability, making our WTGs more competitive and further powering our competitiveness in both China and the international markets."

Preliminary Fourth Quarter 2011 Results

The Company's financial statements for the fourth quarter and full year ended December 31, 2011 have not been finalized and are subject to completion of its normal period-end closing procedures. Therefore, the preliminary selected unaudited financial data set forth below may be subject to adjustment and the actual results could differ materially from the expected results provided.

The Company expects revenue for the fourth quarter of 2011 to decrease by approximately 53% year-over-year, while revenue for full year 2011 is expected to maintain at a similar level as 2010. The decrease in revenues in the fourth quarter was primarily due to (i) the delay in revenue recognition of our Engineering, Procurement and Construction ("EPC") projects; (ii) the delays in installation and commission of our wind turbine generators ("WTGs") of certain wind farm projects primarily caused by adverse weather conditions; and (iii) slower growth in the wind industry in China in 2011.

The Company expects gross margin in the fourth quarter of 2011 to be approximately 7%, while gross margin for full year 2011 is expected to be approximately 18%. The decline was primarily due to decreased average selling price, reflecting increasingly competitive market pricing.

As a result, the Company expects to have a loss for the fourth quarter and profit for the year to decline by approximately 59% as compared to 2010.

The Company is continuing to review its fourth quarter and full year results and will announce its unaudited financial results for the fourth quarter and full year 2011 on March 29, 2012 after the US market closes.

Third Quarter 2011 Results

• Revenue in the third quarter of 2011 was RMB1,904.8 million (US$298.7 million). This compares with RMB1,486.0 million in the corresponding period in 2010.
• Basic and diluted earnings per share for the third quarter of 2011 was RMB0.82 (US$0.13), compared to RMB1.70 in the corresponding period in 2010.

Second Quarter 2011 Results

• Revenue in the second quarter of 2011 was RMB1,405.5 million (US$217.4 million), representing an increase of 7.2% from RMB1,310.5 million in the corresponding period in 2010.
• For the second quarter of 2011, basic and diluted earnings per ordinary share were RMB0.67 (US$0.10) compared to basic and diluted earnings per ordinary share of RMB1.61 (US$0.24) for the corresponding period in 2010.

"The development of China's wind power industry has entered a crucial phase, where its focus is shifting from size and speed to quality and efficiency. In the past three years, Ming Yang has laid a solid foundation by focusing on quality product development, R&D, innovative business models, further integration of high-end supply chain, and development of wind and solar energy storage solutions, and mostly importantly our active participation in the development of off-shore wind power in China. As a result, Ming Yang is not beset by the numerous problems affecting many wind turbine manufacturers in China such as excessive development, quality issues, lack of LVRT technology integration and most importantly effective cost management. I believe Ming Yang is well placed to continue to take advantage of the opportunities present in the Chinese market, and to grow our market share in 2011 and beyond. "

ZHONGSHAN, China, August 16, 2011 /PRNewswire-Asia/ -- China Ming Yang Wind Power Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced that its Board of Directors has approved a share repurchase program, effective immediately.

Under the program, Ming Yang is authorized to repurchase up to US$50 million worth of issued and outstanding American Depositary Shares ("ADSs") in the open market or in negotiated transactions, from time to time, depending on market conditions and other factors as well as subject to relevant rules under Untied States securities regulations. The share repurchase program will be funded by the Company's available working capital. As of June 30, 2011, the Company had cash and cash equivalents of approximately US$265.6 million.

"This program reaffirms our confidence in the long-term growth of the Company," said Chuanwei Zhang, Chairman and CEO of Ming Yang. "We believe our ADSs are currently undervalued, and the share repurchase program not only represents a good investment for our company, but also demonstrates our commitment to increase shareholder value."

ZHONGSHAN, China, July 25, 2011 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE:MY - News), a leading wind turbine manufacturer in China, today announced that it has signed a engineering, procurement and construction ("EPC") contract (the "Contract") with Guangdong Yudean Xuwen Wind Power Co., Ltd., a subsidiary of Guangdong Yudean Group Co. Ltd. ("Yudean") for a 48MW offshore wind power project in Zhanjiang, Guangdong. The project has already received the approval from the Guangdong provincial development and reform committee ("GDRC"). Ming Yang will supply the following under the Contract:

ZHONGSHAN, China, May 31, 2011 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE:MY), a leading wind turbine manufacturer in China, today announced it has withdrawn the registration statement on Form F-1 previously filed with the Securities and Exchange Commission relating to the proposed public offering of up to 15,000,000 American depositary shares ("ADS") of the Company by certain selling shareholders.

"We believe the selling shareholders decision to cancel the proposed offering demonstrates their view that the current share price is significantly undervalued and does not reflect the fundamentals of our business and our future growth prospects," said Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang.

In light of current market conditions, Ming Yang's board of directors has approved that the Company consider implementing a share repurchase program. Such a share repurchase program may include the repurchase by Ming Yang of ordinary shares or ADSs of the Company in privately negotiated transactions or in the open market from time to time depending on market conditions and other factors as well as subject to relevant rules under the United States securities regulations. The Company intends to announce the size and other terms of the program once finalized and approved by the board.

"Ming Yang has delivered solid financial performance in 2010 and the first quarter of 2011 and we fully expect to meet our expected revenue targets for 2011," said Mr. Zhang. "The decision to explore a share repurchase program by the Company reflects our confidence in our ability to successfully execute our business strategies and deliver value to our shareholders."

Mr. Zhang added, "Subject to Company policy and securities law compliance, I also intend to buy additional shares in the Company to demonstrate my confidence in the Company."

Fourth Quarter Results:

• Total revenue was RMB1,713.3 million (US$259.6 million), representing increases of 15.3% over Q3 2010 and 403.9% over Q4 2009.
• Gross profit was RMB382.9 million (US$58.0 million), representing increases of 54.0% over Q3 2010 and 818.2% over Q4 2009.  
• Gross margin for the fourth quarter was 22.3% compared to 16.7% in Q3 2010 and 12.3% in Q4 2009.
• Total comprehensive income for the period was RMB212.2 million (US$32.2 million), an increase of 19.7% over Q3 2010. We incurred comprehensive loss in Q4 2009.
• Basic and diluted earnings per ordinary share were RMB1.83 (US$0.28) compared to basic and diluted earnings per ordinary share of RMB1.70 for Q3 2010 and basic and diluted loss per ordinary share of RMB0.90 for Q4 2009.

Full Year 2010 Financial Highlights

• Total WTGs commissioned were 802 units, or 1,203.0 MW, representing an increase of 427.6% over 2009.
• Total revenue was RMB5,517.8 million (US$836.0 million), an increase of 370.5% over 2009.
• Gross profit was RMB1,087.4 million (US$164.8 million), an increase of 1330.8% over 2009.  Gross margin for the full year 2010 was 19.7% compared to 6.5% in 2009.
• Total comprehensive income for the year was RMB690.0 million (US$104.5 million), compared with a total comprehensive loss of RMB223.1 million in 2009.
• Basic and diluted earnings per ordinary share were RMB6.61 (US$1.00) compared to basic and diluted loss per ordinary share of RMB2.21 in 2009.
  

Mr. Chuanwei Zhang, Chairman and CEO of Ming Yang, commented: "I am extremely pleased with our continued strong performance in the fourth quarter. We recognized revenues from 253 units of 1.5 MW WTGs in the quarter. While pricing across the industry continues to be challenging, we worked hard to reduce costs and successfully increased our gross margin to 22.3% for the quarter. In addition, our order backlog provides us with great confidence that we are on track to fulfill our expected sales targets for 2011."

Based on current market and operating conditions, estimated production capacity and forecasted customer demand, the Company reiterates its target to achieve revenue recognition of an estimated 1,400 units of 1.5MW WTGs and 100 units of 3.0MW SCD WTGs in 2011.

ZHONGSHAN, China, Feb. 1, 2011 /PRNewswire-Asia/ -- China Ming Yang Wind Power announced that it has won a total of 1.1GW new bids in January 2011, including 200MW for its 2.5/3.0MW Super Compact Drive ("SCD") wind turbine generators in both onshore and offshore tenders.

Ming Yang reports that it won bids in all tenders in which it participated, with the aggregate winning bids in excess of 20% of the amounts available for tender. Over 75% of the new bids won were from the top 5 national wind farm operators, including Huandian Power International, Huaneng Power International, Datang International Power Generation, Datang New Energy and China Longyuan Power, further improving its customer mix among national and provincial operators.

China Ming Yang Wind Power Group Limited set to commence IPO.

Company Snapshot:

Wind turbine manufacturer in China

Industry Snapshot:

• According to the Renewable Energy Law, which became effective on January 1, 2006, the renewable energy industry, which includes the wind power industry, is subject to regulations of the national energy authority. Pursuant to the Renewable Energy Law, the PRC government encourages the development and utilization of renewable energy resources, including the funding of scientific and technological research in renewable energy applications and the industrialization of the renewable energy industry.
  
• China has adopted the policy of encouraging and supporting wind power generation. The Electric Power Law of the PRC implemented in 1996 set out the State’s encouragement and support on the utilization of renewable energy and clean energy, including wind energy, for power generation. The newly revised Law of the PRC on the Prevention and Control of Atmospheric Pollution promulgated in 2000 also encouraged the development and utilization of clean energy such as solar, wind and water energy.
  
• Pursuant to the Renewable Energy Law, the national energy authority is tasked with drafting medium to long-term targets for renewable energy output. Under the NDRC Plan, the PRC government aims to achieve 10% renewable energy consumption as a percentage of total energy consumption by 2010 and 15% by 2020, an increase from 7.5% in 2005. The NDRC Plan calls for increasing the total installed wind power capacity to 5GW by 2010 and 30GW by 2020.

Use Of proceeds:

We intend to use approximately $9.0 million of our net proceeds from this offering for the installation of three production lines (production lines 2, 3 and 4) in the Evergreen Product facility that we are in the process of completing. We expect production line 2 to be installed and begin operating on a large scale by February 2011. We plan to begin installing production lines 3 and 4 in fiscal year 2011 and to utilize these production lines for production of Evergreen Products beginning in November 2011 and April 2012, respectively. We intend to use the remaining net proceeds from this offering for working capital and other general corporate purposes.

Underwriter(s):

• Morgan Stanley & Co. International plc
• Credit Suisse Securities (USA) LLC
• Merrill Lynch, Pierce, Fenner & Smith

Proposed maximum offering price: $16.00

Post IPO Share Calculation: (Using a 1 to 1 Ordinary to ADS conversion ratio).

• 100,000,000: Pre IPO fully diluted share count used in EPS calculation. 
•   25,000,000: Newly issued ADS shares 
•     3,750,000: Over-allotments ADS Shares

GeoTeam® best effort calculation of total post IPO ADS count to be used in EPS calculations, assuming full conversions and a Ordinary to ADS conversion ratio of 1 to 1:  128,750,000

Financial Snapshot:

We incurred losses in the amount of RMB22.6 million, RMB499.7 million and RMB223.1 million (US$32.9 million) in 2007, 2008 and 2009, respectively. We became profitable beginning in the first quarter of 2010 and generated a profit in the amount of RMB300.5 million (US$44.3 million) in the first six months of 2010.