Goldwind Announced its Third Quarterly Results of 2018

Net Profit in Fiscal Year of 2018 is expected to increase

BEIJING, China, October 26, 2018 -- Xinjiang Goldwind Science & Technology Co., Ltd. (the “Company”, Shenzhen stock code 002202, Hong Kong stock code 2208) today announced its unaudited results for the first nine months ended on September 30, 2018. Goldwind’s WTG backlog has reached over 18GW in 3Q 2018, representing the peak level in history. The Company also expects YoY increase of net profit for the year of 2018.

In accordance with China GAAP, during the first nine months of 2018, the Company’s revenue was RMB 17,816 million, rising 4.8% YoY. Net profits attributable to owners of the parent company were RMB 2,419 million, rising 5.4% YoY. Basic earnings per share for the first three quarters of 2018 was RMB 0.67, rising 5.5% YoY. The Company expects that its net profit attributable to shareholders of the Company for the year of 2018 will increase by 0% to 50% YoY.

Benefiting from the improvement of the Company’s attributable installed capacity and hours of utilization, Goldwind’s profit generated from Wind Farm Investment and Development business increased steadily. As of 30 September 2018, Goldwind’s attributable connected wind farm capacity was 4,197MW; attributable under-construction capacity was 3,236MW.

According to the statistics, through January to September 2018, the capacity of domestic public tender market was 23.9GW, an increase of 12.1% YoY. The Company’s WTG backlog continued to increase in 3Q 2018. As of 30 September 2018, the Company’s signed backlog totaled 12.96GW, increasing 34.7% YoY; successful bid totaled 5.25GW. Total external backlog reached 18.21GW, reaching a peak level in history.

Mr. Wu Gang, Goldwind’s Chairman, said, “With the implementing of our related diversification strategy, a number of Goldwind’s innovative products and technologies have been launched into market and received recognition successfully, and our management efficiency has been improved continually, ensuring the steady growth of the Company's performance. Looking forward, Goldwind will continue to be dedicated to creating higher return for our shareholders, promoting our comprehensive strength, driving the sustainable development of whole industrial chain through innovation and improvement in technology, management and business model, and contributing to the realization of the goal of wind power parity together with our partners.”

 (The End)

About Goldwind

Xinjiang Goldwind Science & Technology Co., Ltd is a world leading wind turbine technology and energy solutions provider (SZSE: 002202) (HK: 2208). With more than 44 GW of capacity worldwide, Goldwind’s revolutionary Permanent Magnet Direct Drive (PMDD) technology is shaping a new standard in wind energy. Goldwind offers its innovative comprehensive solutions for renewable energy development, including equipment manufacturing and sales, service and investment.