Goldwind Science&Technology : 2025 Interim Results Presentation

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2025 Interim Results Industry Review Business Review Financial Results 3 Global Wind Power Market Global Annual New Installation (GW) Wind power has become the most economical 0.044 0.055 0.086 0.087 0.113 0.034 0.079 0.092 0.417 0.043 0.057 0.06 global LCOE in 2010 global LCOE in 2024 0.402 0.208 renewable energy source（USD/KWh） Onshore Offshore 116.6 117.0 88.4 72.5 95.3 6.9 93.6 77.6 8.8 21.1 105.7 109.0 68.8 10.9 8.0 Onshore wind Offshore wind Concentrated solar power Solar PV Hydropower Geothermal 2020 2021 2022 2023 2024 Global new installations in 2024 was 117.0GW , with onshore wind of 109.0GW and offshore wind totaling 8.0GW . By region, APAC accounted for 75% of total installations, Europe represented 14% of total, and North America contributed 5%. The top market in 2024 for installations were China, which represented 68% of total. Meanwhile, US and Germany contributed 3% and 3% of total, respectively. Note: data from GWEC、IRENA. Bioenergy During 2010~2024, the levelized cost of global onshore wind power declined by 70% , from 0.113 USD/kWh in 2010 to 0.034 USD/kWh in 2024. In China, the onshore wind power LCOE has declined by 68% , from 0.092 USD/kWh in 2010 to 0.029 USD/kWh in 2024. Meanwhile, the levelized cost of global offshore wind power declined by 62% , from 0.208 USD/kWh in 2010 to 0.079 USD/kWh in 2024. In China, the offshore wind power LCOE has declined by 72% , from 0.200 USD/kWh in 2010 to 0.056 USD/kWh in 2024. 4 Wind Power Development in China Grid Connection (GW) Electricity Production (100 million kWh) New Grid-connection Cumulative Grid-connection Wind Power Production… Utilization hours Penetration Rate 573 8,858 6,867 5,667 5,880 2,031 2,221 2,225 2,127 1,087 521 441 365 328 47.6 37.6 75.7 79.8 51.4 9,916 12.1% 2021 2022 2023 2024 1H25 In the first half of 2025, China recorded 51.4GW of new grid-connection, an increase of 98.9% yoy, of which 48.9GW of onshore wind and 2.5GW of offshore wind. As of the end of June 2025, China ' s cumulative grid-connected wind power capacity totaled 572.6GW , taking 15.7% in China ' s power mix. Meanwhile, thermal power declined to 40.4%. 2021 2022 2023 2024 1H25 In the first half of 2025, China ' s total power consumption was 4,841.8 billion kWh, with 3.7% yoy increase. Wind power production increased 15.6% yoy to around 588.0 billion kWh, representing a penetration rate* of 12.1%. The utilization rate of wind power is 93.2% National average wind utilization was 1,087 hours in 1H25, decreasing by 47 hours yoy. Note: data from National Energy Administration and China Electricity Council. *Wind Penetration rate=wind power production/total power consumption. 5 China Public Tender Market Public Tender Market (GW) Average Monthly Bidding Price (Rmb/kW) 164.1 98.5 86.3 71.9 54.2 1,465 1,475 1,527 1,590 1,616 2021 2022 2023 2024 1H25 Domestic public tender market totaled 71.9GW in 1H25, representing 8.8% yoy increase. Onshore public tender totaled 66.9GW and offshore totaled 5.0GW . By region, 77% of the tenders originated from the Northern part of China while 23% were in the South. In June 2025, the overall average bidding price of all WTG suppliers in the market recorded Rmb 1,616/kW . Note: data from public information.

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