ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperBusiness /Green ChinaEconomyPolicy WatchChina DataCompaniesMarketsIndustriesOpinionMotoringGadgetsGreen ChinaSinovel faces credit rating downgradeBy LYU CHANG(chinadaily.com.cn)Updated:2014-02-27 17:11
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Sinovel Wind Group Co Ltd displays its equipment at an international expo in Beijing. Sinovel, one of Chinas largest wind turbine manufacturers, may face a credit rating downgrade amid a full-year net loss and shrinking net asset value. [Photo / China Daily]Sinovel, one of Chinas largest wind turbine manufacturers, may face a credit rating downgrade amid a full-year net loss and shrinking net asset value, the company said in an announcement on Wednesday.China Lianhe Credit Rating Co Ltd has already placed Sinovel on a negative credit watch, according to the statement.The announcement came after an investigation of the company last month by the China Securities Regulatory Commission for suspected violations of securities laws and regulations.
The power generation company has been enduring rising debt levels, higher financing costs, slow client payments and declining wind turbine installations. It may suffer a net loss of 3 billion yuan ($489.7 million) in 2013, its financial report said last month.Analysts said if the credit rating of Sinovel is downgraded, there is a great chance that trading in shares of the wind turbine maker will be suspended on the stock exchange market, causing a heavy financial debt burden.On-grid wind power generation capacity to rise Power company eyes wind as next step abroad 8.03KRelated StoriesSinovel Wind gives fourth-quarter loss alertRegulators probe China wind energy giantSinovel Wind shuts four overseas subsidiariesWind generator installed in high-altitude regionOn-grid wind power generation capacity to risePhotoCars, models at 10th Manila Intl Auto ShowTop 10 economies where women call the shotsTV debate in Boao Forum for Asia Annual ConferenceWhite swans seen on Ulunggur Lake, XinjiangSpotlights on 2014 Hanover Industrial Trade FairJaguar F-Type Coupe on trackChina Economy By NumbersChina Economy by Numbers – Dec China Economy by Numbers – Nov NewsmakerFormer Everbright exec goes to court Few textbook answers from Nobel prize winnerMost ViewedTodays Top NewsLufthansa Cargo strengthens its presence in ChinaChina battles for rags-to-riches storiesCars, models at 10th Manila Intl Auto ShowJack Ma to acquire 20% of Wasu MediaXPs demise helps Chinese IT developersGM planning lower-priced version of 2016 Chevy VoltTV debate in Boao Forum for Asia Annual ConferenceWhite swans seen on Ulunggur Lake, XinjiangHot TopicsTaxi booking appInternet finance12306.cnHousing priceWeChat4GChina MobileIPOs resumptionEditors PicksChina tops in online shopping Top 10 richest banks in the world Peng Liyuan effect boosts brands Top 10 well-known Chinese brands SpecialsGlobal business leaders weigh in on reformsBillionaires speak out on reform rolesInternet finance is in, but is banking out?…Media : |State Administration of Foreign Experts Affairs|QQ International|Peopleforum|workercn.cn|Partners : |State Administration of Foreign Experts Affairs|QQ International|Peopleforum|workercn.cn|Portals : |www.panguso.com|www.goso.cn|Sina|Sohu|Tom|Tencent|NetEase|Hexun|Organizations : |China US Focus|FrenCham|CPAFFC|CPIFA|Gov.cn|eBeijing|AmCham|SwissCham BJ|…| About China Daily | Advertise on Site | Contact Us | Job Offer |Copyright 1995 -. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.License for publishing multimedia online 0108263 Registration Number: 20100000002731