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Goldwind Announces 2012 Preliminary Results

February 27, 2013 - Beijing, China

Xinjiang Goldwind Science & Technology Co., Ltd. (“Goldwind” or the “Company”, Shenzhen stock code 002202, Hong Kong stock code 2208) announced its preliminary results for the year ended December 31, 2012 in accordance with the rules of the Shenzhen Stock Exchange. The Company expects to announce its complete 2012 annual results on March 23, 2013.
 
Based on a preliminary assessment of the unaudited accounts of the Company prepared in accordance with China Accounting Standards for Business Enterprise, during the year ended December 31, 2012, revenue from operations decreased 11.83% to RMB 11,324.19 million, profit before tax decreased 76.07% to RMB 206.85 million, net profit attributable to shareholders of the Company decreased 74.77% to RMB 153.05 million, and basic earnings per share decreased 74.78% to RMB 0.0568 per share, compared with the year 2011. This was mainly due to an industry downturn, which resulted in a decrease in the results of the Company compared with 2011. The operating results disclosed in this announcement fall into the range as forecasted in the Company’s 2012 third quarter report.
 
Mr. Wu Gang, Goldwind’s Chairman and CEO, said, “The wind power industry in 2012 was still in a period of adjustment, so while the year was challenging for Goldwind, we have focused more than ever on our long-term success by optimizing product quality, accelerating our innovation, and speeding the launch of new wind turbines, all to meet the needs of our customers around the world and to lower the lifecycle cost of electricity that is generated by our permanent magnet direct-drive wind turbines.”
 
“We strengthened our strategy of “internationalization through localization” in 2012, to support long-term success in the global market. In 2012 and early 2013, Goldwind announced the sale of two overseas wind farms, the Mortons Lane project in Australia and the Shady Oaks project in the United States. We believe this demonstrates product acceptance by a utility company in a large global market. These transactions should benefit our international expansion and sales of wind turbines and wind services.”
 
“Although the global wind market may remain uncertain in 2013, due mainly to the world economy and renewable energy policies, Goldwind will continue to make prudent investments in R&D, in the development of high quality products and services that will meet international certification standards, and in market expansion. We believe those actions will help to strengthen Goldwind’s competitive position in wind power.”
 
“Our primary objectives remain high customer satisfaction, increased use of wind power, cleaner air, and additional value created for our shareholders. We believe we can make reasonably good progress on those long-term objectives in 2013.”
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About Goldwind
Xinjiang Goldwind Science & Technology Co., Ltd., is the largest manufacturer of wind turbines in China, and among the largest in the world. With strong R&D capabilities, the company is the world’s largest manufacturer of permanent magnet direct-drive wind turbines, representing the industry’s next generation technology. Goldwind is listed on both the Shenzhen Stock Exchange (stock code 002202) and the Stock Exchange of Hong Kong (stock code 2208).
 
As of June 30, 2012, Goldwind’s accumulated installed capacity of wind turbines reached 11 gigawatts for PMDD turbines and more than 13 gigawatts in total, which is equivalent to 10.4 million tons of coal saved per year or 25.9 million tons of carbon emissions reduced per year or 14.2 million cubic meters of newly planted forest.
 
For more information, please visit www.goldwindglobal.com.
 
Goldwind media contact:
Press Office
Beijing: +86 01067511888 extension1037
SNS: weibo.com/goldwindchina
 
Goldwind investor contact:
Investor Relations Department
Beijing +86 010 6751 1888 extension1022
 
Christensen contacts:
Chen Yuanyuan or Iris Tsang
Hong Kong: +852 2117 0861
            itsang@christensenir.com
 
Tom Myers
Beijing: +86 139 1141 3520
 
Source: Xinjiang Goldwind Science & Technology Co., Ltd.

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