Goldwind Sci&Tech Co H (XJNGF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Dear investors, good afternoon. Welcome all of you to join us for the Gold Wing Science and Technology 2024 annual result announcement. Today joining us are Mr. Wu Gang, Chairman, Ms. Ma Jingru, VP, Board Secretary and the Company Secretary, Mr. Wang Yuanhong, CFO, Mr. Cheng Xiuhua, Group VP and GM of the Wind Power Industry Group, First of all, we're going to welcome Ms. Ma Jinglu to work us through the industrial development and operationals of the company in 2024. Then we will have the CFO, Mr. Wang Hongyan, to work us through the financials of 2024. Then, according to the CSRC regulation guidelines, we're going to welcome Ms. Ma Jinglu to work us through the market cap management of the company. Now, Ms. Ma, please. Ladies and gentlemen, I'd like to welcome you to join us for our annual result announcement. So first of all, please allow me to walk you through the industry and our company first. Please go to slide three. On slide three, we do show the wind power industry worldwide. We can see global new installation in 2024 achieved 121.6 gigawatt, grow by 3.9%. with offshore wind of 109.9 gigawatt increased by 3.7 worldwide. Offshore, totally 11.7 gigawatt, growth by 6%. On the right side, you can also see within the 121.6 gigawatt new installation, around 70 close to, 70 total are coming from China, totally 85.5 gigawatts, where you can also see that We also see that Brazil kept the third place in ranking with installation capacity of 4.2 gigawatts in 2024. Then China recorded 79.8 gigawatts of the new grid connection, which includes 75.8 gigawatts from the onshore wind power and 4.0 gigawatts from the offshore wind power. In 2024, the accumulated grid-connected wind power capacity totaled 520.7 gigawatts, taking 50.5%. In the power mix, the thermal power declin...