Goldwind Science & Technology Co. Ltd. Class A · SZSE:002202
Goldwind Science & Technology Co. Ltd. Class A — Q3 2025 Earnings Presentation
18 slides from Goldwind Science & Technology Co. Ltd. Class A's earnings presentation, 2025
Slide 1: 2025 Third Quarter Results
€ Goldwind EMSS AR BRAN) € GOLDWIND SCIENCE&TECHNOLOGY CO.,LTD. \ ) oo") SZEx Stock Code: 002202 HKEx Stock Code: 2208 ya ird Quarter Results
Slide 2: Industry Review, Business Review, Financial Results
Industry Review Business Review Financial Results
Slide 3: Global Wind Power Market
3 Global Wind Power Market Global Annual New Installation (GW) 2024 Global Wind Power Generation (TWh) China 997.0 Onshore Offshore US 458.0 116.6 117.0 8.0 Germany 138.9 10.9 95.3 93.6 8.0% Brazil 108.5 6.9 21.1 77.6 United 7.8% Kingdom 84.1 8.8 India 81.5 105.7 109.0 22.3%23.5% 69.9% Center: 2023
Slide 4: Wind Power Development in China
4 Wind Power Development in China Grid Connection (GW) Electricity Production (100 million kWh) New Grid-connection Cumulative Grid-connection Wind Power Production Utilization hours Penetration Rate (100 million kWh) 573 12.1% 521 9,916 441 8,858 365 6,867 328 5,667 5,880 2,031 2,221 2,225 2,127 75
Slide 5: Chinese Public Tender Market
5 Chinese Public Tender Market Public Tender Market (GW) Average Bidding Price (Rmb/kW) 164.1 1,616 1,610 1,590 98.5 102.1 1,475 86.3 1,527 54.2 2021 2022 2023 2024 9M25 • Domestic public tender market totaled 102.1 GW in 9M25, representing a • In September 2025, the overall average bidding price of
Slide 6: State Policies and Projects
6 State Policies and Projects Recent Policies China's Nationally Determined Contributions On July 17th, 2025, the National Energy Administration released the “2024 China President Xi unveiled China's 2035 Nationally Determined Contributions (NDCs) on September Electricity Market Development Report”
Slide 7: Business Review
Industry Review Business Review Financial Results
Slide 8: Sale Capacity (MW)
8 Sale Capacity（MW） 6MW and Above 4MW (incl.) ~6MW Below 4MW 18,450 From January 1 to September 30, 2025, the Company′s external sale 23 capacity totaled 18,449.70MW, with an increase of 90.01% yoy, 2,550 16,053 159 among which: 13,871 13,772 143 • The sale capacity of WTG below 4MW totaled 22.50MW，
Slide 9: Wind Turbine Order Backlog
9 Wind Turbine Order Backlog Order Backlog (MW) External Order Mix（MW） Signed Contract Successful Bid Internal Order ＜4MW 4MW (incl.) - 6MW ≥6MW Sep 30, 2025 54,835 605 , 1% 51,091 52,461 47,404 3,023 2,471 2,587 44,279 7,716 , 2,321 10,416 2,898 9,425 11,013 16% 8,637 11,909 39,195 41,396 38,861 36
Slide 10: Global Business Expansion
10 Global Business Expansion Europe June 30, 2023 Cumulative installation 987.99 MW Global Installations by country 41 Global Regional Centers Asia (ex.China) Cumulative installation 7 North America 3074.75MW Cumulative installation Global R&D Centers 1,116.20MW Australia Cumulative installation 8 2
Slide 11: Wind Power Generation
11 Wind Power Generation Grid-connection (MW) Grid-connection by Region (MW) Annual New Installation Cumulative Installation 30 Sep, 2025 Southern, 765 , 9% 8,688 East China, 8,043 2,412 , 28% 7,078 7,289 Cumulative Grid Northeastern, connected Wind 6,068 1,094 , 12% 8,688MW North China, 1,654 , 19%
Slide 12: Financial Results
Industry Review Business Review Financial Results
Slide 13: Profitability Index
Profitability Index 13 Revenue（Million RMB） Profit Margin（%） 35,839 48,147 16.43 14.39 • Revenue for the period from 1 24.89 20,860 19,065 19,610 21.78 January to 30 September 2025 15,637 totaled RMB48,147 million 13,223 14.75 14.09 12.16 13.00 9,472 9.27 6,979 • The Comprehensive Profit Margin for
Slide 14: Operation Index
Operation Index 14 Days of Trade Receivables (Annualized） Days of Inventory and Contract Assets (Annualized） Trade Receivables/Total Assets Days of Trade Receivables Inventory and Contract Assets/Total Assets Days of Inventory and Contract Assets 193 184 181 172 174 173 175 161 155 133 132 130 130 1
Slide 15: Solvency Position
Solvency Position 15 Interest-bearing Debt (Million RMB) Asset-Liability Ratio（%） Interest-bearing Debt/Total Liability Interest-bearing Debt Asset-Liability Ratio Equity Liability 167,307 159,012 161,553 156,313 155,224 142,032 144,212 73.72% 73.96% 73.05% 73.08% 73.11% 71.44% 71.78% 55,413 52,951
Slide 16: Cash Flows
Cash Flows 16 Cash/Total Assets（Million RMB） Net Operating Cash Flows（Million RMB） Cash/Total Assets Cash Net Operating Cash Flows -6,507 -633 13,919 11,619 10,857 10,930 9,586 9,451 8,463 8,823 8.75% 7.64% 7.49% 6.99% 5.87% 5.93% 5.65% 2,316 1,644 -1,636 -1,313 -2,097 -6,054 1Q24 2Q24 3Q24 4Q24 1Q2
Slide 17: 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 18: Goldwind Science & Technology Co., Ltd contact details
Goldwind Science & Technology Co.,Ltd Welcome to follow“金风投资者之家”Wechat official account Scan the QR code as follow or search“GoldwindIR” SZEx Stock Code: 002202 HKEx Stock Code: 02208 Reaching out Goldwind IR team： +86-10-6751 1996 goldwind@goldwind.com Company contacts: Ms. Ma Jinru Vice President,
Goldwind Science & Technology — Q3 2025 Earnings Presentation on 6ix