19 December 2018

Sinovel Wind under renewed regulatory scrutiny, WSJ says

Sinovel Wind Group Co. (601558.CN) said it has received notice of an investigation from the China Securities Regulatory commission, signaling renewed scrutiny into the firm’s accounting problems, the Wall Street Journal reported Monday. The probe adds to the challenges the company faces, which include US criminal charges and weak demand for wind turbines, the paper noted. In a stock-exchange filing late Sunday, Sinovel didn’t specify the reason for the probe or any details on its alleged violations, but said it would “actively cooperate” with the latest investigation, the report said. Sinovel had issued a similar announcement last May and since then hasn’t commented publicly on that investigation. 

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