Goldwind Science & Technology Co. Ltd. Class A · SZSE:002202
Goldwind Science & Technology Co. Ltd. Class A — Goldwind Sci&Tech Co H — Q1 2025 Earnings Presentation
17 slides from Goldwind Science & Technology Co. Ltd. Class A's earnings presentation, Apr 28, 2025
Slide 1: 2025 First Quarter Results
€ Goldwind EA ALIS AR tt BPR ZA) GOLDWIND SCIENCE&TECHNOLOGY CO.,LTD." SZEx Stock Code: 002202 HKEx Stock Code: 2208 WAwawa Qo? —P — 2025 First Quarter
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 New Installation（GW） Onshore Offshore China 79.5 6.1 85.5 Mainland 121.6 114.07 117.0 US 5.4 11.7 6.5 11.1 Brazil 4.2 88.1 Germany 3.9 76.7 17.0 India 3.3 9.1 Netherlands 2.1 107.6 105.9 109.9 France 1.9 71.1 China 67.6 1.8 Taiwan F
Slide 4: Wind Power Development in China
4 Wind Power Development in China Grid Connection (GW) Electricity Production (billion kWh) New Grid-connection Cumulative Grid-connection Wind Power Production Penetration Rate 10.1% 9.6% 521 535 8.8% 991.6 441 7.9% 885.8 762.4 365 652.6 75.7 79.8 37.6 14.6 2022 2023 2024 1Q25 2021 2022 2023 2024 •
Slide 5: China Public Tender Market
5 China Public Tender Market Public Tender Market (GW) Average Bidding Price (Rmb/kW) 164.1 1,590 1,542 98.5 86.3 1,403 1,516 54.2 1,414 28.6 2021 2022 2023 2024 1Q25 • Domestic public tender market totaled 28.6GW in 1Q25, representing • In March 2025, the overall average bidding price of all WTG su
Slide 6: State Policies and Projects
6 State Policies and Projects Recent Policies NEA Guiding Opinions on 2025 energy work • On January 1, 2025, the Energy Law of the People's Republic of China came into Enhance regional energy coordinated force guarantee capacity ——It explicitly supports the priority development and use of renewable
Slide 7: Business Review
Industry Review Business Review Financial Results
Slide 8: Sale Capacity (MW)
8 Sale Capacity（MW） During the first quarter of 2025 the Company′s external sale 6MW and Above 4MW (incl.) ~6MW Below 4MW capacity totaled 2,587.65MW, with 80.16% yoy increase, among 16,053 which: 159 13,871 13,772 • The sale capacity of WTG 6MW and above totaled 143 1,771 6,112 1,823.70MW， taking 7
Slide 9: Wind Turbine Order Backlog
9 Wind Turbine Order Backlog Order Backlog (MW) External Order Mix Signed Contract Successful Bid Internal Order ＜4MW 4MW (incl.) - 6MW ≥6MW 31 March, 2025 587 , 1% 51,091 47,404 2,471 44,279 2,321 8,171 , 17% 38,358 2,898 9,425 8,637 33,654 2,769 11,909 1,295 10,991 8,003 36,446 39,195 29,472 39,86
Slide 10: Wind Power Generation
10 Wind Power Generation Grid-connection (MW) Grid-connection by Region (MW) Annual New Installation Cumulative Installation 31 March, 2025 8,043 8,043 2,318 , 29% 7,078 7,289 Northwestern North China 745 , 9% East China 1,798 , 22% 316 , 4% Southern Northeastern 1,745 1,793 1,980 433 , 5% Overseas
Slide 11: Financial Results
Industry Review Business Review Financial Results
Slide 12: Profitability Index
Profitability Index 12 Revenue（Million RMB） Profit Margin（%） 20,860 • During the first quarter of 2025 the 24.89 Company realized revenue of 15,637 21.78 13,223 RMB9,472 million 14.75 14.09 9,472 6,979 9.27 • The comprehensive profit margin for the first quarter of 2025 was 21.78% 1Q24 2Q24 3Q24 4Q2
Slide 13: Operation Index
Operation Index 13 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 193 161 184 155 181 172 174 133 132 122 14% 15% 20% 2
Slide 14: Solvency Position
Solvency Position 14 Interest-bearing Debt (Million RMB) Asset-Liability Ratio（%） Interest-bearing Debt/Total Liability Interest-bearing Debt Asset-Liability Ratio Total Asset 55,413 55,051 159,012 52,951 156,313 155,224 49,687 50,255 144,212 142,032 73.72% 73.96% 73.05% 55% 71.44% 71.78% 51% 48% 43
Slide 15: Cash Flows
Cash Flows 15 Cash/Total Assets（Million RMB） Net Operating Cash Flows（Million RMB） Cash/Total Assets Cash Net Operating Cash Flows 13,919 11,619 8,823 10,857 10,930 8,463 8.75% 7.64% 7.49% 1,644 5.87% 6.99% -2,097 -1,636 -6,054 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 • As at end of March 2
Slide 16: 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 17: Goldwind Science & Technology Co., Ltd contact
Goldwind Science & Technology Co.,Ltd Welcome to follow“金风投资者之家”Wechat official account SZEx Stock Code: 002202 HKEx Stock Code: 02208 Scan the QR code as follow or search “GoldwindIR” Reaching out Goldwind IR team： +86-10-6751-1996 goldwind@goldwind.com Company contacts: Ms. Ma Jinru Vice President
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