Date
23 October 2017
A second chairman has resigned from loss-making Sinovel in less than two years. Photo: Sinovel
A second chairman has resigned from loss-making Sinovel in less than two years. Photo: Sinovel

Another chairman steps down from Sinovel

The chairman of what was once China’s biggest wind turbine maker has resigned for personal reasons as the company’s second straight annual loss sends it closer to delisting, Bloomberg reported Wednesday.

In a filing to the Shanghai Stock Exchange dated July 7, Sinovel Wind Group Co. said chairman Wang Yuan will step down from his positions at all Sinovel units but will remain a board member, the report said. Wang took over from Han Junliang, who resigned in March last year. 

Sinovel reported a 2013 net loss of 3.45 billion yuan (US$556 million), nearly six times the 582.7 million yuan it lost the year before, the report said.

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