The following is a summary of the Goldwind Science & Technology Co., Ltd. (XJNGF) Q3 2024 Earnings Call Transcript:
Financial Performance:
In the first three quarters of 2024, Goldwind reported revenue of 35,839 million, reflecting positive growth.
Comprehensive profit margin for the first three quarters rose to 16.43%, an increase of 2.21% year-over-year.
Net profit attributable to owners increased by 531 million, while efforts to reduce assets and optimize profit and tax structures continue.Return on Equity (ROE) improved by 1.45%, showcasing enhanced profitability.
Business Progress:
Goldwind's sales from January to September reached 9,709 megawatts, a 9% increase, predominantly of turbines over 4 megawatts.
Goldwind achieved a record high order backlog of 44.28 gigawatts, signaling strong future revenue potential.
Expanded global business presence in Morocco, the Philippines, Georgia, and Namibia, enhancing their international market position.
Goldwind significantly contributed to wind power generation, with a total of 8,138 megawatts grid-connected projects by the end of Q3.
Opportunities:
The global and Chinese reductions in the cost of wind power make it the most economically advantageous renewable energy source, presenting significant growth opportunities.
New policies and national plans to accelerate wind power installations, especially in rural areas, are likely to stimulate further development and demand for Goldwind's technology.
Risks:
The reliance on government policies and subsidies for renewable energy projects could pose a risk if there are significant policy changes or reductions in support.
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