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Goldwind Announces 2014 Interim Results

  

BEIJING, China, August 22, 2014-- Xinjiang Goldwind Science & Technology Co., Ltd. (“Goldwind” or the "Company”, Shenzhen stock code 002202, Hong Kong stock code 2208), announced today the unaudited results of the Company for the six months ended June 30, 2014.The results have been prepared in accordance with the International Financial Reporting Standards. During the first half of 2014, Goldwind’s revenue from operations increased 37.72% to RMB 4,444.46 million and net profit attributable to owners of the Company increased 256.80% to RMB330.69 million compared with the first half of 2013. Basic earnings per share for the first half of 2014 were RMB0.12.
 
Mrs. Ma Jinru, Vice president and Secretary of the Board of Goldwind, said:“During the reporting period, the Group has continued to adhere to a prudent management style. Within the context of a broad industry recovery, the Group will take actions to maintain its competitive advantages, pursue innovative and lean management, and strengthen its research and development (“R&D”) capabilities. These strategies are designed to fulfill the market-oriented development plan made at the beginning of the year, to satisfy customers’ demands, and to meet our obligations to other stakeholders throughout the wind power industrial value chain. In the first half of 2014, the Group’s business performance and new orders improved steadily, maintaining a positive trend.”
 
Due to the recovery of the wind energy industry in the first half of 2014 and the outstanding performance of the Company’s Direct-Drive Permanent Magnet (DDPM), for the six months ended 30 June 2014, the Group’s revenue from sales of wind turbine generators (WTGs) and components was RMB3,683.03 million, representing an increase of 30.03% YoY. Total sales capacity was 942.25 MW, representing an increase of 42.28% YoY. Backlog of orders under contract was 4,972MW and backlog of orders awaiting final contracts was 3,927.5MW. The combined total backlog of orders was 8,899.5MW.
 
Aside from WTGs and components sales, the Company is also actively improving its competitive advantages through the development and sales of wind farms and wind power services. During the reporting period, the Group’s revenue from Wind Power Services was RMB241.13 million, representing an increase of 15.73% YoY. Revenue from power generation was RMB 520.30 million, representing an increase of 179.33% YoY.
 
Benefitting from technological development, supply chain optimization, and lean management, the gross profit margins of the 1.5MW WTG and the 2.5MW WTG increased by 10.92 percentage points and 5.49 percentage points, respectively, during the reporting period.
 
The Group believes competing in the international market is an important way to enhance our brand and products to meet global standards. During the reporting period, The Group’s international business successfully expanded. The Group received an order for 86 units of 2.5MW WTGs, which is equivalent to 215MW, for a wind farm project in Panama. The Group will also provide long-term operation and maintenance service to this project. The Group also successfully completed the installation of WTGs for the Miresa Project in Romania and another project in Pakistan. The Group’s revenue from international business increased by 25.35% YoY to RMB627.00 million, accounting for 14.11% of our revenue from operations
 
As a leader in the global wind industry, in addition to conducting in-house research and development, the Group is also an active participant in the international wind power standardization research community. As of June 2014, the Group has participated in four research activities organized by the International Energy Agency and played a crucial part in the research and foundation of international regulations for the wind power industry. As the chairman of the National Technical Committee for Standardization of Wind Machinery and the Electrical Equipment Sub-committee of Standardization Administration on Energy, the Group actively participates in high level design of national wind power system standards and the establishment of trade standards for wind power. Up to now, the Group has participated in the establishment of 97 standards in total, fifty-one of which were drafted under the leadership of the Group.

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