Guangdong Mingyang Electric Co reported a substantial increase in both operating revenue and net profits for the first half of this year, far surpassing the industry average. The company's operating revenue reached 1.899 billion yuan, a year-on-year increase of 64.77%, while its net profits attributable to shareholders amounted to 163 million yuan, up 70.53% year-on-year.
Mingyang Electric is a holding subsidiary of Mingyang Group, and it is the headstream of Mingyang Group's founding industry and dynamic culture. The enterprise is primarily engaged in the research and development, production and sales of PTD (power transmission and distribution) and control equipment in such areas as new energy and new-type infrastructure. Its main product offerings include box-type substations, self-contained switchgears and transformers.
It is reported that Mingyang Electric possesses core technologies in the PTD and control equipment sector, including the world-leading "photovoltaic inversion and boosting integrated device", "special dry-type transformer for offshore wind power" and "inflatable medium-voltage ring main unit for offshore wind power".
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