Ningxia Yin Xing Energy (000862) plans to sell a 30-percent stake in Wuzhong Instruments, an apparatus business, for 97.78 million yuan and will focus more on wind energy production and sales of related equipment, reports Information Times, citing a company filing.
According to its annual report, the company's power energy business had a gross profit margin of 61 percent in 2010. The equipment production business earned net profits of 102 million yuan on revenues of 1.32 billion yuan.
The firm also had a foothold in forging and real estate development business, both of which had little impact on overall performance.
