Goldwind Sci&Tech Co H

Dear investors, good afternoon. Welcome all of you to join us for the Gold Wing Science and Technology 2024 annual result announcement. Today joining us are Mr. Wu Gang, Chairman, Ms. Ma Jingru, VP, Board Secretary and the Company Secretary, Mr. Wang Yuanhong, CFO, Mr. Cheng Xiuhua, Group VP and GM of the Wind Power Industry Group, First of all, we're going to welcome Ms. Ma Jinglu to work us through the industrial development and operationals of the company in 2024. Then we will have the CFO, Mr. Wang Hongyan, to work us through the financials of 2024. Then, according to the CSRC regulation guidelines, we're going to welcome Ms. Ma Jinglu to work us through the market cap management of the company. Now, Ms. Ma, please. Ladies and gentlemen, I'd like to welcome you to join us for our annual result announcement. So first of all, please allow me to walk you through the industry and our company first. Please go to slide three. On slide three, we do show the wind power industry worldwide. We can see global new installation in 2024 achieved 121.6 gigawatt, grow by 3.9%. with offshore wind of 109.9 gigawatt increased by 3.7 worldwide. Offshore, totally 11.7 gigawatt, growth by 6%. On the right side, you can also see within the 121.6 gigawatt new installation, around 70 close to, 70 total are coming from China, totally 85.5 gigawatts, where you can also see that We also see that Brazil kept the third place in ranking with installation capacity of 4.2 gigawatts in 2024. Then China recorded 79.8 gigawatts of the new grid connection, which includes 75.8 gigawatts from the onshore wind power and 4.0 gigawatts from the offshore wind power. In 2024, the accumulated grid-connected wind power capacity totaled 520.7 gigawatts, taking 50.5%. In the power mix, the thermal power declined to 43.1%. In terms of the total power consumption, it was 9,852.1 billion kilowatt-hour, increased by 6.8%. 991.6 billion kilowatt-hour of the wind power production represents an increase of 60%. and the penetration rate of 10.1, 27 member states of the European Union and the UK has an average wind energy share reached 20 in 2024.

Especially for Denmark, you can see that the highest share of the wind at 56, whereas that's also

Take a look at utilization rate and the LCOE. National average wind power utilization rate was 95.9%. Utilization rate was in six provinces and cities even kept as a very low level, but still relatively lower compared with other cities and countries, but still in certain provinces, for example, like in Anhui and Fujian, and so forth, as well as Shanghai and Jiangsu, Zhejiang, the polarization rate can reach 100%. The LCOE of the onshore wind has been dropped to a more competitive USD 0.019 in 2003, reducing 59.6% in the past five years. We can also see that China's average construction cost of the onshore also continues to grow. Coming up, let's see that domestic public tender market totaled 164.1 gigawatt in 2024, representing a 90% growth.