BEIJING, China, August 23, 2013-- Xinjiang Goldwind Science & Technology Co., Ltd. (“Goldwind” or the "Company”, Shenzhen stock code 002202, Hong Kong stock code 2208), today announced the unaudited results of the Company for the six months ended June 30, 2013, which have been prepared in accordance with International Financial Reporting Standards. During the first half of 2013, Goldwind’s revenue from operations decreased 6.49% to RMB 3,227.15 million and net profit attributable to owners of the Company increased 28.60% to RMB92.68 million compared with the first half of 2012. Basic earnings per share for the first half of 2013 were RMB0.03, up 28.84% from the first half of 2012.
Goldwind achieved a high bidding success rate on new projects during the first half of 2013. As of June 30, 2013, the Company had a total of 4,550.25MW of outstanding orders and had won bids for projects totaling 3,538.50MW for which contracts have not yet been signed. The combined backlog of orders was 8,088.75MW.
As our customers become increasingly focused on product quality, we continued to strengthen our quality controls. During the first half of 2013, we improved our cost controls, and lean management; set the performance excellence model as our evaluation standard; established and optimized our quality controls and safety management that covers every phase of a product’s life cycle; and strengthened the Goldwind brand as the quality leader in China’s wind power industry. During the first half of 2013, Goldwind was awarded the “Quality Award” by the Government of Xinjiang Uygur Autonomous Region of China in recognition of the Company’s extensive contributions towards the development of the renewable energy industry in Xinjiang.
By taking prudent actions, we reduced our cost of sales during the first half of 2013. Our gross profit margin increased to18.56% in the first half, an increase of 5.27 percentage points compared with 13.29% for the first half of 2012.
As one of the earliest Chinese wind power equipment companies to establish businesses overseas, Goldwind has been promoting its internationalization strategy for years and has won significant achievements in key markets, such as the US and Australia, and participated in competitions in the emerging markets in Latin America, Africa, and Asia. During the first half of 2013, Goldwind achieved further successes in Thailand, Panama, Romania, Turkey, and other markets by winning sales orders for wind turbines and making steady progress on wind farm development projects. In the first half of 2013, deliveries for international projects achieved a record high, totalling 77 units of 1.5MW and 2.5MW WTGs, equivalent to 162.50MW of capacity. In the first half of 2013, the Company’s revenue in overseas markets was RMB500.21 million, an increase of 14.15% compared with the first half of 2012. This represents 15.50% of our revenue from operations, an increase of 2.80 percentage points year-over-year.
Mr. Wu Gang, Chairman of the Board of Goldwind, said, “China’s wind power manufacturing industry has welcomed a new era, transitioning from focusing on speed and size to quality and performance. The industry is becoming more rational, despite the continuing fierce competitive environment. It is transitioning from “made in China” to “designed, engineered, and created in China”. This is the process that China must master to transition from a quantity-orientated to a quality-orientated manufacturing centre.
“As a leading global wind turbine generator manufacturer and provider of comprehensive wind power solutions, we will maintain steady management of our operations and continue to improve our competitiveness through innovation, technology, product and process improvements, even higher quality, and lean management.
“We will strive to provide the best cost-effective products to our customers, improving results to our shareholders, and better returns to our society.”
About Goldwind
Xinjiang Goldwind Science & Technology Co., Ltd., is the largest manufacturer of wind turbines in China, and among the largest in the world. With strong R&D capabilities, Goldwind is the world’s largest manufacturer of permanent magnet direct-drive wind turbines, representing the industry’s next generation technology. Goldwind is listed on the Shenzhen Stock Exchange (stock code 002202) and The Stock Exchange of Hong Kong (stock code 2208).
As of December 31, 2012, Goldwind’s accumulated wind power installations exceeded 15 gigawatts, and it has installed more than 12,000 wind turbine units around the world. That wind power generation capacity is equivalent to 12 million tons of coal saved per year or 29.91 million tons of carbon emissions reduced per year or 16.4 million cubic meters of newly planted forest.
For more information, please visit www.goldwindglobal.com.
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