Leading Chinese wind turbine maker Goldwind Science & Technology will likely see shipments soar this year after its orders on hand jumped at the end of last year.
Goldwind leads China in offshore wind energy technology reserves and orders, Vice President Ma Jinru said at an annual earnings briefing late yesterday. However, as the Chinese wind power market will continue to be dominated by onshore energy, such orders will still significantly exceed offshore ones, Ma added.
Beijing-based Goldwind external sales rose 16.6 percent to 16,053 megawatts of wind turbines in the 12 months ended Dec. 31 from the year before, according to its annual financial report. Its outstanding orders surged 56 percent to 47,404 MW as of the end of last year from a year earlier.
Large units with a capacity of 6 MW and above were Goldwind's main product last year, with relevant sales soaring 59 percent to 9,782 MW, accounting for 61 percent of its total annual sales.
"The trend of increasing the size of onshore units is slowing down, which is beneficial for the healthy development of the industry and conducive to the steady improvement of the quality and performance of wind turbines," Ma said.
Goldwind's net profit surged 40 percent to CNY1.9 billion (USD253 million) last year from the previous year, while its operating revenue rose 12.4 percent to CNY56.7 billion (USD7.7 billion), the financial report showed. Income from its two main businesses -- wind turbines and components --made up 69 percent of its total, while that from developing wind farms accounted for 19.1 percent.
In addition, Goldwind reported its overseas revenue jumped 15.5 percent to CNY12 billion, with relevant orders on hand topping 7,032 MW as of Dec. 31, accounting for almost 15 percent of its total.
Goldwind's new overseas orders reached a record high last year, with the company making breakthroughs in eight countries, including the Philippines, Namibia, and Georgia, according to the report.
Shares of Goldwind [SHE: 002202] climbed 2 percent to CNY8.14 (USD1.11) as of lunch break in Shenzhen today, after earlier rising by as much as 3.1 percent.
