Goldwind Sci&Tech Co H (XJNGF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. I'd like to welcome you to join us for Gold Wind Science and Technology 2025 Q1 results. The management team joining us here today are President of the company, Mr. Cao Zhigang, Madam Ma Junru, VP Board Secretary and the Company Secretary, Mr. Huang Hongyan, CFO, and Mr. Chen Qinhua, Group VP and the GM of the Wind Power Industry Group. The meeting will be divided into two parts. First of all, we will invite Madam Ma to work you through the Q1 industrial trends and the company's operationals. Then we will have a CFO, Mr. Wang Hongyan, to work you through the Q1 financials. And then we will get into the Q&A session. Madam Ma, please. Okay, great. Thank you very much. Dear investors, good afternoon. I would like to welcome you to join us for the Q1 performance release. Please allow me to work you through the industry and the business review. Let's first go to slide three. The global new installation in 2024 was 121.6 gigawatt, grow by 3.9%. With onshore wind power 109.9 gigawatt, grow by 3.7%. Offshore wind totally 11.7 gigawatt, increase by 6%. On the right side, you can also see the new installation country distribution. You can see that in China, China new installation accounted for 70% of the global new build. Let's go back to China. In Q1 of 2025, China record 40.6 gigawatt of the new grid connection down by 5.7%. At the end of 2025 Q1, Cumulative grid-connected grid power capacity was 535.4 gigawatt, taking 50.6% of the power mix. Thermal power declined to 42.3%. We also see that the power generation and the production continue to go up. On the right side, we show you the 2024 data. But let me just share with you, in Q1 of 2024, total power consumption in China reached 2,384.6 billion kilowatt hour. But we don't have any new data regarding Q1 as a...