Longyuan’s First-Quarter Profit Gains as Wind-Power Output Rises
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China Longyuan Power Group Corp., the nation’s biggest developer of wind farms, said first-quarter profit rose 15 percent as it generated more power at its wind business.
Net income increased to 718.6 million yuan ($115 million) from 624.5 million yuan a year ago, the company said today in a statement to the Hong Kong stock exchange. Sales from the company’s wind-power unit, excluding revenue from concession services, rose 17 percent to 2.79 billion yuan.