Goldwind Sci&Tech Co H (XJNGF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Dear investors, good afternoon. Welcome to join us at Gold Wind 2025 Annual Renounce Earnings Call. Today, we have the executive members. First, Mr. Chodrikong, Board Director and President, and VP, Board Secretary and Company Secretary, Madam Ma Jinru, CFO Wang Hongyan, and Group VP and GM of Wind Power Industrial Company, Mr. Chen Qiuhua. Today, we have two parts in our earnings call. First, Madam Ma is going to walk us through the industry development, our performance, and future outlook in 2025. Then, CFO Wang Hongyan is going to walk us through the financial results. And then, we'll move on to Q&A. First, to Madam Ma. Thank you. Dear investors, thank you all for joining us today at the 2025 Gold Wind Annual Results. First of all, let me introduce the industry in 2025 First, let's look at the global market for wind power in 2025 The new installation is 169.2 gigawatts, up by 37.9%. Onshore, 161 gigawatts, up by 45.1%. Offshore, new capacity of 8.1 gigawatts, down by 30.2%. On the very right side, we can see by country breakdown, China continue to dominate the global installation. In 2025, China's new addition capacity accounts for three quarters of the global installations. Now back to China. In 2025, the grid connection is 120 gigawatts and the onshore 113 gigawatts and 6.59 gigawatts from offshore wind power. At the end of 2025, China's cumulative grid connection capacity total 640 gigawatts taking 16.4% China's total power mix while thermal power declined to 39.6%. On the right side, you could see the electricity production. Last year, China used 10,368.2 billion kilowatt hours up by 5.0 year-on-year and among which we have 1,130 billion kilowatt of wind power representing an increase of 13% year-on-year and penetration rate of 10.9%, which improves year-on-ye...