XINJIANG Goldwind Science & Technology Co., China’s biggest wind turbine maker, yesterday saw its shares jump their 10 percent daily limit up after it said its first-half profit more than tripled.

    Net income for the first six months of this year jumped to 330.7 million yuan (US$54 million), or 0.12 yuan a share, based on international accounting standards, from 92.7 million yuan, or 0.03 yuan, a year earlier. Sales gained 38 percent to 4.44 billion yuan.

    “The group’s business performance and new orders improved steadily, maintaining a positive trend,” said Xinjiang Goldwind, which lists shares in Hong Kong and Shenzhen.

    “We currently have a substantial backlog of orders, providing enhanced revenue visibility,” the firm said.

    Xinjiang Goldwind joins peers Vestas Wind Systems A/S of Denmark and Spain’s Gamesa Corp. Tecnologica SA in cutting costs to boost profitability. Vestas, the world’s largest wind turbine maker, last week reported net income of 94 million euros (US$124 million) in the three months through June, rebounding from a 62-million-euro loss a year earlier.

    Xinjiang Goldwind’s gross profit margins from turbine research and development, manufacturing and sales widened to 26.2 percent in the first half from 16 percent a year earlier.

    Profits may rise as much as 550 percent to 1.22 billion yuan in the first nine months of the year from a year earlier, Xinjiang Goldwind said in an earnings forecast Saturday.

    The company had 4,972 megawatts of orders outstanding as of June 30. An additional 3,927.5 megawatts of orders are waiting for final contracts to be signed.

    Xinjiang Goldwind’s yuan-denominated A shares jumped 10 percent to close at 10.44 yuan yesterday on the Shenzhen Stock Exchange, while the firm’s Hong Kong dollar-denominated H shares surged 28.04 percent to HK$12.10 (US$1.56) in Hong Kong. (SD-Agencies)