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Goldwind Announces Third Quarterly Results for 2013

 

(BEIJING, China, October25, 2013)-- Xinjiang Goldwind Science & Technology Co., Ltd. (“Goldwind” or the "Company”, Shenzhen stock code 002202, Hong Kong stock code 2208), today announced the unaudited results of the Company for the nine months ended September 30, 2013, which have been prepared in accordance with the People’s Republic of China Accounting Standards for Business Enterprise.

 
In the first nine months of 2013, Goldwind’s revenue from operations increased 19.72% year-over-year (“YoY”) to RMB7,119.03 million and net profits attributable to owners of the Company increased 387.97% YoY to RMB187.95 million. Basic earnings per share were RMB0.07.
 
Goldwind forecasts that net profits attributable to owners of the Company for the year of 2013 will increase between 150% to 200% YoY,a range of between RMB382.63 million and RMB459.16 million.
 
As of September 30, 2013, the Company had a total of 4,205.25 megawatts (“MW”) of outstanding orders for wind turbine generators, including overseas orders of 151.75MW, and had won bids for projects totalling 3,625.50MW for which contracts have not yet been signed. The combined backlog of orders was 7,830.75MW.
 
In the first nine months of 2013, the Chinese government issued a number of updated and improved policies for the wind power industry to facilitate a more stable and sound development. These policies seek to address several challenges and issues that still exist within the industry, including grid connection delays and wind power curtailment. As the Chinese wind power industry became more mature, its customers’ requirements have also evolved. Customers are now considering the full range of costs, including the initial installation cost of a wind power project per kilowatt, the power-generation cost per kilowatt, and the quality and estimated total cost for each project over its life cycle. Goldwind aims to produce products and provide services of high quality that meet international standards and specifications. The company is committed to developing and applying advanced wind power technology through continuous research and development (“R&D”). Our objective is to create value for both customers and shareholders.
 
According to a recent survey report by the China Wind Energy Association on the operating quality of wind power equipment installed in China, Goldwind wind turbines ranked in the top 2 in terms of maximum turbine availability rate, average (low) failure frequency, and average failure recovery time. This survey demonstrates, once again, the high quality of Goldwind’s products and services.
 
During the first nine months of this year, the Company’s 2.5MW wind turbine series received several certifications and recognitions, including the Design Approval certification by China General Certification Centre, the Design Assessment certification from Germany’s TÜV Nord, and the North American ETL Safety certification. The Company’s1.5 MW wind turbine also achieved GL Garrad Hassan´s criteria for Commercially Proven status in North America. We believe these certifications and recognitions are due to Goldwind’s success that comes from our sustained R&D and innovation, and our core capabilities and competitiveness over the past 15 years. The Company is pursuing international certifications for additional wind turbine series. We have established good relationships with international certification institutions that include GL, DNV and TÜV to help increase Goldwind’s brand recognition and business in overseas markets.
 
Mr. Wu Gang, Chairman of the Board of Goldwind, said, “Despite the challenges in the current development stage of China´s wind power industry, the support from China’s government in general for the wind industry remains undiminished, and the market conditions in China continue to improve at a somewhat increasing rate. Both factors are playing important roles in accelerating the development of the wind power industry, including in its equipment manufacturing sector.
 
“As a leading manufacturer of high quality and cost-effective wind turbines, this year we are focusing more on improving our operations management and production. With the currently favourable external environment, the challenges that wind power manufacturers face are whether R&D, internal management, and the supply chain can be optimised quickly enough to fulfill the clients’ ever-increasing requirements, and whether new high-quality models can be validated and launched to meet the market demand that is anticipated beyond the next few years. In Goldwind, we are focused on delivering outstanding results to customers and investors in both the near term and the long.”
 
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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, Goldwind is the world’s largest manufacturer of permanent-magnet direct-drive wind turbines, representing the industry’s next generation technology. Goldwind is listed on the Shenzhen Stock Exchange (stock code 002202) and The Stock Exchange of Hong Kong Limited (stock code 2208).
 
As of December 31, 2012, Goldwind’s accumulated wind power installations exceeded 15 gigawatts, and it has installed more than 12,000 wind turbine units around the world. That wind power generation capacity is equivalent to 12 million tons of coal saved per year or 29.91 million tons of carbon emissions reduced per year or 16.4 million cubic meters of newly planted forest.
 
For more information, please visit www.goldwindglobal.com.
 
Goldwind Media Contact:
 
Press Office
Beijing +86 (0)1067511888, extension 2120
SNS: weibo.com/goldwindchina

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