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Goldwind Announced its First Quarterly Results of 2018

1H Net Profit is expected to increase YoY

BEIJING, China, April 25, 2018 -- Xinjiang Goldwind Science & Technology Co., Ltd. (the “Company”, Shenzhen stock code 002202, Hong Kong stock code 2208) today announced its first quarterly results for the three months ended on March 31, 2018. Goldwind’s wind turbine backlog has reached over 16GW in 1Q 2018, setting a new record-high. The Company also expects YoY increase of net profit for the 1H 2018.

In accordance with China GAAP, during the first three months of 2018, the Company’s revenue was RMB 3,860 million, up 7.7% YoY. Net profits attributable to owners of the parent company were RMB 240 million, up 32.7% YoY. Basic earnings per share for the first quarter of 2018 were RMB 0.06, up 36.2% YoY.

Thanks to our visionary strategy, innovation and optimization of management, Goldwind continued to improve its business mix. The Company’s comprehensive gross margin increased by 3 percentage points on yearly basis to 36%. Goldwind also expects that its net profit attributable to shareholders of the Company for the first half of 2018 will increase by 0% to 50% YoY.

Goldwind has continued to solidify its leading position with superior wind turbine products and comprehensive solutions. As of 31 March 2018, the Company’s signed backlogs totalled over 10GW, up 31.8% YoY; successful bid orders totalled 6.4GW. Total external backlog reached 16.8GW, setting a new record in history. 

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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.