SINOVEL Wind Group Co.’s bonds were suspended from trading yesterday after the Shanghai-listed wind-turbine maker said losses widened almost sixfold.

    The company yesterday reported a loss of 3.45 billion yuan (US$551 million) for 2013 versus 582.7 million yuan the previous year, according to a statement to the Shanghai Stock Exchange.

    The Shanghai bourse, in line with its rules, will decide within seven trading days whether to maintain the halt on the notes, Sinovel said in a statement yesterday.

    Investor concern about China’s corporate debt repayment risk is mounting after Shanghai Chaori Solar Energy Science & Technology Co. last month became the first company to default on onshore notes.

    Bonds issued by Baoding Tianwei Baobian Electric Co., a Shanghai-listed solar-cell maker, stopped trading in March after it reported a second yearly loss for 2013.

    Sinovel’s president Liu Zhengqi said priority will be put on ensuring funds are available to meet interest payments on its notes, China Securities Journal reported yesterday.

    The yield on Sinovel’s 2.6 billion yuan of 6 percent 2016 bonds jumped to 11.55 percent as of Tuesday, from 5.99 percent a year earlier, according to exchange data. Yields on the company’s 200 million yuan of 6.2 percent securities, also due in 2016, more than tripled to 19.27 percent in the same period, the data show. (SD-Agencies)