Goldwind Science & Technology Co. Ltd. Class A · SZSE:002202
Goldwind Science & Technology Co. Ltd. Class A — Goldwind Sci&Tech Co H — FY2025 Earnings Presentation
28 slides from Goldwind Science & Technology Co. Ltd. Class A's earnings presentation, Mar 30, 2026
Slide 1: 2025 Annual Results
€ Goldwind EAS IR PRA) GOLDWIND SCIENCE&TECHNOLOGY CO.,LTD.” SZEx Stock Code: 002202 HKEx Stock Code: 2208 2025 Annual Results
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Slide 3: Global Wind Power Market
Global Wind Power Market Global Annual New Installation (GW) Onshore Offshore 116.8 10.4 88.0 771 17.0 3.0 106.3 71.1 68.1 2021 2022 2023 + Global new installations in 2025 achieved 169.2GW, an increase of 37.9% yoy, with onshore wind of 161.0GW, an increase of 45.1% yoy, and 169.2 8.1 122.7 11.7 16
Slide 4: Wind Power Development in China
Wind Power Development in China Grid Connection (GW) New Grid-connection Cumulative Grid-connection 640 521 441 365 120 76 80 = a LI — a 2022 2023 2024 2025 + In 2025, China recorded 120GW of new grid-connection, which includes around 113GW from onshore wind power and 6.59GW from offshore wind power
Slide 5: Wind Power Development in China
Wind Power Development in China Utilization (hr) & Utilization Rate (%) gas Utilization hours +++ Utilization Rate 95.9% J 2,127 2022 2023 2024 2025 + National average wind utilization was 1,979 hours in 2025. + National average wind power utilization rate was 94.3%. The utilization rate of wind pow
Slide 6: Chinese Public Tender Market
Chinese Public Tender Market Public Tender Market (GW) 164.1 121.2 98.5 86.3 43.3 28.6 30.1 i | a 2022 4620232024. 2025. 1Q25 «2Q25) «= 3Q25 «= 4Q25 + Domestic public tender market totaled 121.2GW in 2025, representing a 26% yoy decrease. . Onshore public tender totaled 112.10GW and offshore totaled
Slide 7: Policy Support
Policy Support Improve the market mechanisms for new energy and establish a unified national electricity market system. Accelerate the pace of green and low-carbon transformation to ),enhance the quality and efficiency of new energy development. Improve the trading mechanism for ° green certificates
Slide 8: Industry Review / Business Review / Financial Results / Outlook
Industry Review Business Review Financial Results a as ' i Outlook
Slide 9: Business layout and segment results
Business layout and segment results WTG Manufacturing Wind Farm Investment Wind Power Service Other Businesses & Sales & Development Comprehensive Solution of Wind Water Treatment Solution & R&D, Manufacturing & Sales of Wind Farm Development, Transfer Power Technology Onshore & Offshore WTG & Opera
Slide 10: Sale Capacity (MW)
Sale Capacity (MW) = Below 6MW 6MW (incl.) ~10MW ™10MW and Above 16,053 13,871 13,773 172 18,818 10,683 4751 5,975 2,005 AXES 2021 2022 2023 2024 2025 Note: Data from Company files, numbers may not sum to total due to rounding. For the full-year 2025, the Company’‘s external sale capacity totaled 26
Slide 11: Wind Turbine Order Backlog
11 Wind Turbine Order Backlog Order Backlog (MW) External Order Mix mSigned Contract Successful Bid Internal Order <6MW — «6MW(incl.)-10MW >» >10MW coc CEE 52,461 53,733 47,404 ak g 3,241 11,012 8,637 36,446 38,861 39,480 2024/12/31 — 2025/3/31 2025/6/30 2025/9/30 2025/12/31 . As of the end of 2025,
Slide 12: Global Business Expansion
12 Global Business Expansion Europe December 31, 2025 Cumulative installation 1,100.79\9W ® Global installations by country 42 Global Regional Centers Asia (ex.China) 7 Cumulative installation North America 3,708.13MW Cumulative installa 1,116.2MW Global R&D Centers ~ Australia 8 Cumulative installa
Slide 13: Wind Power Generation
Wind Power Generation Grid-connection (MW) Grid-connection by Region @ Annual New Installation Cumulative Installation 9,951 es 8,043 = Northwestern G, 40 7,078 7,289 * North China = East China Periphery: 31 December, 2025 Center: 31 December, 2024 = Souther = Northeastern Cumulative Grid- = Oversea
Slide 14: Wind Farm Operation & Wind Power Service
Wind Farm Operation & Wind Power Service National & Company Utilization (h) Wind Power Service (MW) National Average ™ Company Average 50,315 2,456 2,441 2,340 2,290 39,978 30,836 27,989 2,221 2,22: 212 Lon 2022 2023 2024 2025 2022 2023 2024 2025 Company's self-run wind farms recorded 2,290 hour uti
Slide 15: Sustainable Development in Practice
Sustainable Development in Practice Fields Honest and compliant operations Green and environment- friendly operations Sustainable industry chain Fair and sound working environment Harmonious community relations 2025 Sustainability Achievements Goldwind has been awarded class "A" in the 2025 informat
Slide 16: Sustainable Development in Practice
Sustainable Development in Practice Low-carbon Products By end of 2025, the company had completed Life Cycle Assessment (LCA) for 12 wind turbine models, and had obtained the Environmental Product Declaration (EPD) certification. Data reveals that the lowest carbon emissions per kilowatt-hour throug
Slide 17: Business Review / Financial Results / Outlook
Business Review | __ Financial Results Outlook ye
Slide 18: Profitability Index
Profitability Index Revenue (Million RMB) 1Q24 2024 3024 4024 1025 2Q25 3Q25 4Q25 Net Profit Attributable to Owners of the Company (Million RMB) 333 1,054 405 gg |! 568 920 1,096 499 Comprehensive Profit Margin (%) 1Q24 2024 3024 4024 1025 2Q25 3Q25 4025 Weighted Average Return on Equity (%) 0.86 ea
Slide 19: Segment Results
Segment Results a Oo WTG Manufacturing Wind Farm and Sales Development R&D, Manufacturing & Sales of Wind Farm Development, Transfer & Onshore & Offshore WTG & Component Operation, Green Power Sale Revenue (Million RMB) 57,205 38,921 2025 2024 Revenue (Million RMB) 8,694 10,854 2025 2024 Profit Marg
Slide 20: Operation Index
Operation Index Days of Trade Receivables (Annualized) t= Trade Receivables/Total Assets [| [J Days of Trade Receivables 193 184 181 172 21% 21% Aa 19% 20% 20% % % 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 + As at end of 2025 the Company's trade receivables totaled RMB32,345 million, taking 19% of tot
Slide 21: Solvency Position
21 Solvency Position Interest-bearing Debt (Million RMB) Asset-Liability Ratio (%) —*=Interest-bearing Debt/Total Liability [_] Ill interest-bearing Debt —* Asset-Liability Ratio [_] Equity Ml Liability 167,307 166,495 156,313 155,224 159,012 161,553 142,032 144,212 73.72%] |73.96%) 73.05%) —|73 gga
Slide 22: Cash Flows
Cash Flows Cash/Total Assets (Million RMB) —*— Cash/Total Assets [_] Hl Cash 11,619 10,857 10,930 9,586 9,451 8,463, 7.64% 6.99% | |7.49% 5.87% 1024 2024 3Q24 4Q24 1Q25 2025 3Q25 + As at end of 2025 the ratio of Cash to Total Assets was 6.20% Note: Data in compliance with PRC GAAP. 4Q25 22 Net Opera
Slide 23: Industry Review / Business Review / Financial Results / Outlook
a Industry Review - Business Review \ Financial Results / Outlook
Slide 24: Global Wind Power Outlook
Global Wind Power Outlook Renewable Energy Capacity Growth =Solar PV monshore wind offshore wind | =Hydropower = Other Historical Main Case 4,605.3 732.4 2,375.4 505.5 992.0 2013-2018 2019-2024 2025-2030 According to IEA, newly installed renewable energy capacity will reach 4,600 GW during the 2025-
Slide 25: Accelerating the development of new energy infrastructure, wind power will become a primary source of energy supply
Accelerating the development of new energy infrastructure, wind power will become a primary source of energy supply The 15th Five-Year Plan outlines the goal of accelerating the development of a clean, low- carbon, safe, and efficient new energy system, and building China into a major nation in ener
Slide 26: Sustainability Development Goals
Sustainability Development Goals & Ethics and Compliance Environmentally Friendly Operations jm Sustainable Industry Chain People and Society Foster adherence to the Company’ s core principles of ethics, integrity and compliance throughout our business and operations Enhance energy efficiency, promo
Slide 27: DISCLAIMER
DISCLAIMER This presentation and the information contained herein does not constitute or take the form of any recommendation for the purchase or sale of any securities of Goldwind Science & Technology Co. Ltd (“the Company”), and does not constitute an offer to purchase or sell any securities of the
Slide 28: Goldwind Science & Technology Co.,Ltd Welcome to follow
Goldwind Science & Technology Co.,Ltd Welcome téfollow “S:hU8##22R" Wechat official account k ock Code: 02208 Scan the QB
Goldwind Sci&Tech Co H — FY2025 Earnings Presentation on 6ix