Goldwind Sci&Tech Co H (XJNGF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Dear investors, good afternoon. Welcome to join us at Gold Wind 2025 interim results announcement telephone call. Today joining us, including Mr. Cao Zhigao, VP and Vote Director, VP, Vote Secretary and Company Secretary, Ma Jinru, CFO Wang Hongyan, and Mr. Chen Qiuhua, Group VP and GM of Wind Power Industrial Company. Now, Madam Ma Jinru is going to walk us through the industry development and companies operation for first half of 2025. And then Mr. Wang Hongyuan is going to walk us through the financial indicators and then we'll kick off our Q&A. Madam Ma, please. Thank you. Am I audible? Okay. Dear investors, good afternoon. Welcome to join us at 2025. for wind interim results announcement, and thank you for your long-term support and care to the company. Let me now walk you through the industry development update. This is the GWEC global wind power market update, as you can see. Previously, we have updated it on the Bloomberg global data, but now GWEC, as a professional council, they have more authoritative data Global new installation was 117 gigawatts. Onshore wind, 109 gigawatts. Offshore wind totaling 8 gigawatts. By region, APAC accounts for 75% of the total installation. China represents 68% of the total installation. On the right side, you could see the wind power price. From 21 to 2024, the LCOE of onshore power declined by 70%, whereas in China, it declined by 68% from 2010 to 2024. Now, the global LCOE is 0.034 U.S. dollars per kilowatt, and in China, it is now 0.029 USD per kilowatt hour. the LCOE of offshore wind power declined by 62% from 0.208 USD kilowatt hour in 2010 to 0.079 USD kilowatt in 2024, whereas in China, the offshore wind power LCOE also declined by 72%. Let's look at grid connection. In first half of 2025, China recorded 51.4 gigawatts...