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Industry News
China's largest wind turbine maker announces 257 percent jump in profit

Revenues up 38 percent due to wind industry recovery.

Author:
Posted on: 9/1/2014
Source: CompositesWorld

Citing a recovering wind industry and a rise in turbine sales, Beijing-based Xinjiang Goldwind Science & Technology Co., China's biggest wind-turbine maker, has announced a 38 percent year over year (YOY) revenue increase to RMB 4.4 billion ($720 million) and a 257 percent jump in profit YOY to RMB 331 million ($54 million).

"Within the context of a broad industry recovery, the group will take actions to maintain its competitive advantages, pursue innovative and lean management, and strengthen its research and development capabilities," says Ma Jinru, Goldwind's vice president and secretary of the board. "These strategies are designed to fulfill the market-oriented development plan made at the beginning of the year, to satisfy customers' demands and to meet our obligations to other stakeholders throughout the wind power industrial value chain. In the first half of 2014, the group's business performance and new orders improved steadily, maintaining a positive trend."

In the first half of 2014 Goldwind's revenue from sales of wind turbine generators (WTGs) and components was about $600 million, representing an increase of 30 percent YOY. Backlog of orders under contract was 4,972 MW, and backlog of orders awaiting final contracts was 3,927.5MW. The combined total backlog of orders was roughly 8,900 MW.

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