Xinjiang Goldwind Science & Technology Co. Ltd. (Goldwind) has announced its preliminary results for 2011.
In its third-quarter 2011 report, Goldwind reported that it expected a decrease in net profits attributable to owners of the company of 50% to 100% as compared to last year due to slower growth in the wind industry and a decrease in the average selling price for wind turbine generators. Based on the announced preliminary results, the company's operating results for 2011 were in line with expectations.
Goldwind said the decrease in profits was due to a slowdown in China's wind industry.
