Sinovel warns about losses

Sinovel Wind Group Co, one of China's largest turbine producers, said Wednesday its shares are expected to be given a delisting warning by the Shanghai Stock Exchange as it has reported two consecutive years of net losses, according to a statement it filed with the Shanghai Stock Exchange Wednesday.

The company reported net losses of 582 million yuan ($94.8 million) in 2012, and is expected to making a loss of 3 billion yuan in 2013. According to securities regulations, if a company reports net losses for two consecutive years, its share price would be capped at a 5 percent limit for a fall or rise for daily trading instead of 10 percent.