Goldwind Science & Technology Co., Ltd. (Stock Code: 02208) reported a 34.34% year-on-year increase in operating income for the first three quarters of 2025, reaching RMB48.15 billion. Net profits attributable to shareholders rose by 44.21% over the same period, totaling RMB2.58 billion, supported by higher sales volumes of wind turbine generators (WTG) and components.

Operating costs stood at RMB41.22 billion, up 37.63% year-on-year, reflecting increased WTG sales. Meanwhile, investment income decreased, primarily due to lower gains from disposals of subsidiaries, but the company’s fair value gains grew substantially, contributing to overall profitability. Inventory levels rose to RMB21.65 billion to support order delivery, while net cash outflows from operating activities improved significantly compared to the same period last year.

As of 30 September 2025, Goldwind held RMB167.31 billion in total assets and RMB41.05 billion in equity attributable to its shareholders. External sales volume stood at 18,449.70MW during the reporting period, marking a 90.01% year-on-year increase. Total external orders to be executed reached 38,861.14MW, with a further 11,012.73MW in unsigned contract orders and 2,586.97MW in internal orders, bringing total orders on hand to 52,460.84MW.

The board also highlighted the continued implementation of its 2024 restricted share incentive scheme and reiterated the mandate for share repurchases. As of the end of the reporting period, no A-shares or H-shares had been repurchased under these plans. The company noted that both share repurchases and the restricted share incentive scheme are financed with its own resources and have defined terms aligned with shareholder approvals.