Goldwind Sci&Tech Co H

Ladies and gentlemen, welcome to join us for Goldwind 2024 Q3 updates. All the participants are in muted mode. Now let's welcome the moderator, please. Dear investors, good afternoon. I'd like to welcome you to join us for Goldwind Science and Technology 2024 Q3 Result Announcement. Joining us here today are VP Board Secretary and the Company Secretary, Madam Ma Qinru, CFO, Mr. Wang Hongyan, Group AP, and the GM of Wind Power Industrial Company, Mr. Chengqiu Hua. Ladies and gentlemen, the meeting will be divided into two parts. First of all, we're going to welcome Madam Ma to work you through Q3 development and operationals. Then we're going to have Mr. Wang Hongyan to work you through the financials. And then we will get into the Q&A session. Now let's welcome Madam Ma, please. Distinguished Investors, I would like to thank you for joining us for this meeting, and thanks for your committed support to Goldwind Science and Technology. First of all, please allow me to walk you through the industry and our business. Let's take a look at the industry first. Now, if you have a slide in your hands, please go to slide three. On slide three, on the left side, it shows the global annual new installation which has already been disclosed in the interim result. But on the right side, that is the wind power energy become the best economy renewable energy source, especially if you see from 2010 to 2023, the liberalized cost of global onshore wind power is declined by 70%. It went from 0.111 USD per kilowatt hour to 0.033 USD per kilowatt hour. But in China, the price is already 0.027 USD per kilowatt hour, but at the same time, The levelized cost of global offshore wind power declined by 63% from 0.203 USD per kilowatt hours to 0.075 USD per kilowatt hour. With China, the number was 0.07 USD per kilowatt hour in 2023. If we take a look at the wind power development in China, in the first nine months of 2024, Generally speaking, China recorded 39.1 gigawatt of the newly grid connection, an increase of 16.8%. By the end of September, China's cumulative grid connected wind power accounted for 479.6 gigawatts, hitting 15.2% of China's power mix, while the thermal power was 44.9%. On the right side, we show you the electricity production, as well as the digitalization hours. Majority of those data is available in our interim results. I'm not going to elaborate on that further. Please go to slide five. Slide five shows you the public tendering and the price. You can see by the end of September, domestic public tender market totaled 190.1 gigawatt, grow by 93% on worldwide basis. Onshore, 111.5 gigawatts. Offshore, totaled 7.6 gigawatts. So great momentum's been registered for public tender market. We are on the right side. By the end of September, the overall average bidding price of all WTHG suppliers is around 1,475 per kilowatt. We are in P03 of ACS, There are also some new policies being rolled out regarding energies and the new development. For example, on August 2nd, 2024, the General Office of the State Council issued a work plan for accelerating the construction of a new control system for carbon emission. And on the August 6th, 2024, the National Development and Reform Commission has already released action plan for accelerating construction of a new power system. Along with the implementation plan for larger scale equipment are based in key energy sectors on 21st of August. Along with the new policy, rules for the insurance and trading for green power certificate for renewable energy on the 26th of October, all the policy issues greater commitment and the support in developing new energy industry by the central government. On the right side, we show you advancing the advancement of wind power in rural regions. Following the notice on organizing the wind power actions in rural regions, later Anhui, Gansu, Shaanxi, and other regions released the action plans. Especially in August of 2004, the General Office of NDA published the notice regarding the issuance of the outline for the appropriation for the overall plan of the wind power actions in rural regions. The notice indicates national energy regulatory authorities to establish a regular scheduling mechanism for comprehensively overseeing the implementation process of the rural wind power projects. Now, let's take a look at the business review of the company. On slide eight, we show you the sales. From January to September, our external sales capacity totaled 9,709 megawatts, up by 9%. we have very few WTG under four megawatts, where we have more cells regarding the WTG above four megawatts, already reaching 5,596 megawatts, where for WTG between four megawatts to six megawatts, the cells totaled 4,042 megawatts. Well, let's take a look at the backlog we have. Well, by the end of this year, We have a historical high order backlog, ranging 44.28 gigawatts, among which 41.38 gigawatts are for external orders, including about 0.91 gigawatts for successful bidding and 29.47 gigawatts for side contracts. And there are also some external order leaks we can generate your concern for. You can see that around 73% of the W2Gs are actually above six megawatts. Well, for our global business, we also registered very smooth extension, where for Asia, we continue to extend the global market, especially in Morocco, in Philippines, in Georgia, and in Namibia, we extend our business successfully. Our business covers six continents and 42 countries worldwide. By the end of Q3, cumulative installation in overseas market is already more than 8,000 megawatts. In North America, Australia, and South America, the installation already exceeds one gigawatt. In Asia, including China, it's already more than two gigawatts. And our order backlog in overseas market is around 5,536 megawatts. Let's now take a look at wind power generation. By the end of Q3, our attributable grid-connected wind power projects totaled 8,138 megawatts, and around 48% being located in northeast part of China, where the company added another 1,122 megawatt for attributable grid-connected wind power capacity, home and board, from January to September 5th year. And we also have a capacity under construction. So in that way, you can see that here now, and our total went from record 1,784 hours of utilization. Okay, let's go next.

Let me welcome Mr. Wang to work his way through financials. Dear investors, good afternoon. My name is Wang Hongyan from Goodwind.

I'd like to thank you for keeping an eye on the wind farm industry and thanks for supporting Goodwind. Let me just work you through the Q3 financials. Well, we have characterized the financials into three parts, four parts. First one are for profitability index. Second one are operational index. We're also going to show the solvency position and the final part, we're going to talk about the cash flow. Well, for the four parts, I'm going to use a very different color in helping you to understand the performance. The light blue represents the performance of the full quarters in 2024, and the dark blue color represents the first three quarters of 2024.