Recently, another vehicle for trading the China wind energy space began trading.  China Ming Yang (MY) made its IPO debut on the NYSE under the ticker symbol MY on October 1st.  They are the largest non state owned wind turbine manufacturer and have had more success in China than A-Power Energy (APWR), but they don’t have a presence in the US outside of a recently opened office in Dallas, TX (APWR does).  The other thing I like about APWR over MY is that APWR has other revenue streams.  MY is more of a pure play so a better trade once the wind turbine biz in China picks up (APWR didn’t sell one turbine last quarter). 

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While the company has yet to record a profitable year, revenues have increased dramatically in the last two quarters and the company posted its first two quarters of profitability.  Technically, the stock has been under quite a bit of pressure.  Not only did it price below the expected range, but after popping briefly, the stock has plummeted about 30% in recent days before recovering today.  I’m staying away from this one until (1) it shows some stability technically and (2) they have their first earnings report under their belt as a publicly traded company.  Personally, I think APWR offers a better value at these levels and less risk with their diversified revenue stream.