Goldwind Sci&Tech Co H

to the 2025 Q3 earning call for Gold Wind Science and Technology Company. We are happy to have the management with us, Chairman Mr. Wugang, Deputy Chair and also President and also Ms. Ma, Board Secretary Mr. Wang Fuyuan, Vice President and General Manager Chen. So we have two parts of this call. We have Ms. Ma to kick off the Q3 industry and development. And Mr. Wang will take you through the financial results. And the second part, we're going to move on to the Q&A. And I'm going to hand over to Ms. Ma. Okay, dear investors, good afternoon. Thank you so much for your interest to the company. So, I'm going to take you through the industry and company performance and CFO. We'll talk about the financial highlights. So, if you look at the industry review, now, on this slide, we're showing you the global wind power market. On the left, this represents 2024, the four-year wind power installation. I'm not going to go into great details. In interim results, we have demonstrated this number, and on the right, this is really the pie chart for the 2024 global wind power generation. The 2024 global power generation improved by 4.4% with renewable energy improving by 9.6% to 9,868 kilowatt hours coming from 31.6%. And also, the global wind power generation increased by 8% to 2,711 terawatt hours, representing 8% of global power generation. So, China is by far the leader. The wind power reaching 997 terawatt hours, which is 40% of the total wind power, and followed by U.S. and Germany. Even though China is a far leader by absolute amount, by 40%, however, in terms of the penetration, we maintain it at about 50% of the share compared with Denmark in over 50% in Europe, they are at 30%. So in China specifically, now in terms of the grid connection gradually expand and rising power generation from January to September, the new connection was increased by 15.6%. The four-year, you know, the accumulated wind power connection was 572 gigawatt-hours, which is a total of 15.7% of total insulation, and thermal power reduced to 40%. And also, you could look at, again, from January to June, the total power consumption increased by 3.7% year-on-year in China. So, and also in terms of the Chinese public tender, so we have seen incremental 102 gigawatt hours in the nine months of this year, representing 14% increase year-on-year by different markets. Onshore tender was 97.1 and offshore 5 gigawatts. So, you can see the wind power tender price. As you can see, a rising among, a rising trend among stability. Now, in Q3, the government has launched many policy to promote renewable energy, wind power, low carbon, and green transition. including July, the National Energy Administration released the 2024 China Electric Market Development Report in August. The Central Office of CDC Central Committee and State Council issued an opinion promoting green and low-carbon transformation. In September, NDRC and NEA issued notice on improving price mechanism to promote local consumption of new energy. as well as the guiding principle on promoting high quality development of energy equipment is all providing support to this sector. Remarkably, on September 24, President Xi Jinping issued a video presentation on the UN, you know, climate summit, really announcing a new round of contribution target. for the positive contribution to Paris Accord, the overall target, which means China's greenhouse emission will drop again by 7 to 10 percentage by 2030. For promoting the non-fossil fuel consumption mix, we're aiming at 30% non-fossil fuel. Wind and solar in solar capacity will be six times as high in that of 2020. and also the forestry stock volume will be 24 cubic meter, 24 billion cubic meter. So, all this is effectively driving the global low-carbon transition. So, amid the macro background, the company's performance, now, first of all, if you look at the sales, Q1 to Q3, we have made 18, you know, .4 terawatt increased by 90% from the first three quarters. We have exceeded the total sales of last year. As you can see, particularly, we are seeing like the 4 megawatt and below is only 0.12%. Our 4 to 6 megawatt was 13.8%, and 6 megawatt and higher includes 86 to 15 terawatts. In terms of backlog, end of Q3, the backlog was 52.5 gigawatts with external backlog 49.9. And also, we have a external order backlog total 49.9, including 11 gigawatts of successful bids and 38.9 gigawatts of signed contracts. As you can see, internal order mix, primarily 41 terawatt with 83% coming from the unit above 6 megawatts. Now, our international business has been going on well in 41 countries around the world where we have business presence.

And by the end of Q3, the accumulated

Ex-China installation was 11 gigawatts. In China, Ex-China, in Asia, Ex-China is more than 3 gigawatts. In Latin America, Oceania, we have more than 2 gigawatts of installation. So right now, our overseas backlog was 7 gigawatts. So for international delivery and sales, this is going to be strong support with such a volume of backlog. Now, from January to September, we added 745 megawatts of attributable grid connection wind power. As of end of September, our attributable grid connected wind power project totaled 9 gigawatts, and also we are having of under construction wind capacity at home and brought to the four gigawatts. So you look at the pie chart, you can see the height is northwest, which is, you know, 67%, followed by north China 25%, east China was 8%. So the four megawatts under construction, So, most of it was the northwest and north China. So, January to September, the utilization hours, 1,700 hours. So, that was the industry background. I'm going to hand over the table for the financial results. Thank you. Thank you. Good afternoon, everyone. I'm Wang Hongyan from GoWin. Thank you so much for your interest in wind power. And thanks for joining this call. And I'd like to take you through the 2024, 2025 financial results in Q3. So there are four parts of my talk, like consolidated profitability, operating cash flow.