News / Goldwind Announced Its Preliminary Results for 2016
Date: 2017-03-27
Goldwind Announced Its Preliminary Results for 2016
Xinjiang Goldwind Science & Technology Co., Ltd. (“Goldwind” or the “Company”, Shenzhen stock code 002202, Hong Kong stock code 2208) announced its preliminary results for the year ended December 31, 2016 in accordance with the rules of the Shenzhen Stock Exchange. Based on a preliminary assessment of the unaudited management accounts of the Company, the Company is pleased to announce that its record-high net profit in 2016 due to improved profitability.
In 2016, China’s wind power industry kept healthy development. According to CWEA’s preliminary data, annual newly installation capacity was 23.37 gigawatts. NEA’s data shows that China’s cumulative connected wind capacity increased to 149 gigawatts at the end of 2016, representing 9% of China’s total installed power capacity. Goldwind continued to solid its leading position and expend its market share with superior wind turbine products and one-stop comprehensive solutions， while domestic newly installation market share increased by 1.9% to 27.1% last year.
In accordance with China Accounting Standards for Business Enterprises, during the year ended December 31, 2016, The Group’s total operating revenues for the Reporting Period decreased by 12.20% to RMB 26,396 million, operating profits increased by 7.87% to RMB 3,291 million, net profits attributable to owners of the parent company increased by 5.39% to RMB 3,003 million. Mainly due to successful related diversification strategy, implementation of lean management and value management, the Company’s profitability continued to improve over the Reporting Period and its net margin increased from 9.48% to 11.38%.
Mr. Wu Gang, Goldwind’s Chairman, said, “ when China’s wind power development stabled in 2016, the whole group’s profitability increased significantly due to our forward-looking strategy, continuous innovation and management optimization, which has created higher return for our shareholders. Meanwhile, Goldwind also achieved impressive progress on building up general-excellence industry supply chain and practicing corporate sustainability. Looking forward, Goldwind is dedicated to global development in a green, environment-friendly and low-carbon way. ”
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