Core Viewpoint - Harmony Health reduced its stake in Goldwind Technology by selling 8.7762 million shares, representing 0.207717% of the total share capital, which indicates a significant change in ownership structure [1] Summary by Relevant Sections Shareholding Changes - After the reduction, Harmony Health's shareholding decreased from 431,282,871 shares to 422,506,671 shares, which is a drop from 10.207715% to 9.999998% of the total share capital [1] - The percentage of shares held by Harmony Health, excluding those in the repurchase account, decreased from 10.214553% to 10.006696% [1] Impact on Company Ownership - The equity change triggered thresholds of 1% and 5% for ownership percentages, indicating a notable shift in the company's shareholder structure [1]

Core Viewpoint - The long-term growth logic of the wind power industry remains unchanged, with significant increases in installed capacity and market demand, despite challenges in profitability due to price competition [1][3]. Group 1: Industry Growth and Performance - In the first half of the year, the cumulative installed capacity of wind power in China exceeded 570 million kilowatts, a year-on-year increase of nearly 23%, with new grid-connected capacity reaching 51.4 GW, up nearly 99% year-on-year [1]. - Major wind turbine companies reported revenue growth, with increases ranging from 26% to 63%. Goldwind Technology led with a revenue of 28.537 billion yuan and a year-on-year growth of 62.75% [1]. - Despite revenue growth, most leading companies, except Goldwind Technology, reported declines in net profit, with Mingyang Smart Energy's net profit down 7.68% to 610 million yuan, and Sany Renewable Energy's net profit down 51.54% to 210 million yuan [1][2]. Group 2: Price Competition and Market Dynamics - Intense price competition has led to a significant drop in bidding prices for onshore wind turbines, from 3,000-4,000 yuan per kilowatt in 2021 to below 1,400 yuan per kilowatt in 2024, a decline of over 50% [2]. - The industry is beginning to stabilize, with major companies signing a self-discipline agreement to raise bidding prices starting in the fourth quarter [2][3]. - The average bidding price for onshore wind turbine units has increased by over 9% compared to the full year of 2024, reaching 1,552 yuan per kilowatt [2]. Group 3: Future Outlook and Strategic Initiatives - The wind power industry is expected to see a recovery in profit margins, with companies like Sany Renewable Energy anticipating a significant increase in gross profit margins next year due to higher bidding prices and cost reduction strategies [3]. - The industry is witnessing a shift towards non-lowest price bidding mechanisms, which is expected to stabilize wind turbine prices [3]. - Leading companies are focusing on securing orders, enhancing product reliability, and expanding into overseas markets to lay a foundation for future performance [6]. Group 4: Global Market Position - China's wind power industry chain accounts for over 60% of the global market, and other regions, particularly in the Asia-Pacific, will struggle to meet construction demands without Chinese supply chains [4]. - Major companies are actively expanding their overseas orders, with Goldwind Technology's overseas orders increasing by over 42% year-on-year, and Sany Renewable Energy's overseas sales revenue reaching 233 million yuan with a gross margin exceeding 20% [6].

Core Viewpoint - Harmony Health reduced its stake in Goldwind Technology by selling 8.7762 million shares, representing 0.207717% of the total share capital, which indicates a significant change in ownership structure [1] Summary by Relevant Sections - **Shareholding Changes** - After the reduction, Harmony Health's shareholding decreased from 431,282,871 shares to 422,506,671 shares, which is a drop from 10.207715% to 9.999998% of the total share capital [1] - The percentage of shares held by Harmony Health, excluding those in the repurchase account, fell from 10.214553% to 10.006696% [1] - **Transaction Details** - The shares were sold through a centralized bidding process on September 12, 2025 [1] - The transaction triggered changes that touched on both 1% and 5% thresholds in shareholding [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 GOLDWIND SCIENCE&TECHNOLOGY CO., LTD.* 金風科技股份有限公司 於中華人民共和國註冊成立的股份有限公司 (Stock Code: 02208) 承董事會命 金風科技股份有限公司 馬金儒 公司秘書 北京，2025年9月15日 於本公告日期，公司執行董事為武鋼先生及曹志剛先生；公司非執行董事為高建軍先生、楊麗 迎女士及張旭東先生；公司獨立非執行董事為曾憲芬先生、劉登清先生及苗兆光先生；及公司 職工代表董事為余寧女士。 * 僅供識別 1 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲載列金風科技股份有限公司在深圳證券交易所網站刊登的《金風科技股份有限公 司簡式權益變動報告書》，僅供參閱。 信息披露义务人名称：和谐健康保险股份有限公司 注册地址：中国(四川)自由贸易试验区成都高新区天府大道北段 966号10号楼2层 ( ) 金风科 ...

承董事會命 金風科技股份有限公司 馬金儒 公司秘書 北京，2025年9月15日 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 GOLDWIND SCIENCE&TECHNOLOGY CO., LTD.* 金風科技股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司 ) (Stock Code: 02208) 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲載列金風科技股份有限公司在深圳證券交易所網站刊登的《金風科技股份有限 公司關於持股 5%以上股東權益變動觸及 1%及 5%整數倍暨披露簡式權益變動報 告書的提示性公告》，僅供參閱。 於本公告日期，公司執行董事為武鋼先生及曹志剛先生；公司非執行董事為高建軍先生、楊 麗迎女士及張旭東先生；公司獨立非執行董事為曾憲芬先生、劉登清先生及苗兆光先生；及 公司職工代表董事為余寧女士。 *僅供識別 股票代码：002202 股票简称：金风科技 公告编号：2025-0 ...

金风科技(002202.SZ)公告称，持股5%以上股东和谐健康于2025年9月12日通过集中竞价方式减持公司股 份8,776,200股，占公司总股本的比例为0.207717%。本次权益变动后，和谐健康持有公司股份数量由 431,282,871股减少至422,506,671股，占公司总股本的比例由10.207715%减少至9.999998%。 ...

股票简称：金风科技 股票代码：002202 信息披露义务人名称：和谐健康保险股份有限公司 注册地址：中国(四川)自由贸易试验区成都高新区天府大道北段 966号10号楼2层 通讯地址：北京市朝阳区建国门外大街甲6号A座 金风科技股份有限公司 简式权益变动报告书 上市公司名称：金风科技股份有限公司 上市地点：深圳证券交易所 股份变动性质：股份减少，持股比例下降至10%以下 签署日期：2025年9月15日 1 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》、《上市公司收购管 理办法》、《公开发行证券的公司信息披露内容与格式准则第15号——权益变动 报告书》及相关法律、法规和规范性文件的有关规定编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《中华人民共和国证券法》、《上市公司收购管理办法》的规定， 本报告书已全面披露了信息披露义务人在金风科技股份有限公司(以下简 称"金风科技")中拥有权益的股份变动情况。截至本报告书签署之日，除本报 告书披露的信息外，信息披露义务人没有通过任何其他方式增加或减少其在 金风科技中拥有权益的股份。 四、本次权益变动是根据本报告书所载明 ...

股票代码：002202 股票简称：金风科技 公告编号：2025-075 金风科技股份有限公司 关于持股 5%以上股东权益变动触及 1%及 5%整数倍暨披 露简式权益变动报告书的提示性公告 公司股东和谐健康保险股份有限公司-万能产品保证向本公司 提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述 或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提 供的信息一致。 2025 年 9 月 15 日，金风科技（以下简称"公司"）收到持股 5% 以上股东和谐健康保险股份有限公司-万能产品（以下简称"和谐健 康"）出具的《关于减持股份触及 1%及 5%整数倍的告知函》以及《简 式权益变动报告书》。和谐健康于 2025 年 9 月 12 日通过集中竞价方 式减持公司股份 8,776,200 股，占公司总股本的比例为 0.207717%， 占剔除公司回购专用账户中的股份数量后总股本的比例为 0.20785 7%。本次权益变动后，和谐健康持有公司股份数量由 431,282,871 股 减少至 422,506,671 股，占公司总股本的比例由 10.207715%减少至 9. 999998%，占剔除回购专用 ...

Group 1 - The core viewpoint of the report is that Minsheng Securities has given a "recommended" rating to Goldwind Technology (002202.SZ) with a latest price of 12.35 yuan [1] - The report highlights key future aspects including the recovery of wind turbine profitability and the potential for growth in overseas markets [1] - The company has released its semi-annual report for 2025, which is a significant event for investors [1]

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for its stock performance in the coming year [5][45]. Core Insights - The company is experiencing a recovery in wind turbine profitability, with significant growth potential in overseas markets. The domestic wind power project bidding volume increased by 8.8% year-on-year in the first half of 2025, reaching 71.9GW, with onshore wind projects dominating [2][18]. - The company has a robust order backlog, with external orders totaling 41.4GW as of the end of the first half of 2025, including a notable increase in overseas orders, which grew by 42.27% year-on-year [2][29]. - Revenue for the first half of 2025 reached 285.37 billion yuan, a year-on-year increase of 41.26%, while net profit attributable to shareholders was 14.88 billion yuan, up 7.26% year-on-year [9][31]. Summary by Sections Financial Performance - In the first half of 2025, the company reported a revenue of 285.37 billion yuan, a 41.26% increase year-on-year, and a net profit of 14.88 billion yuan, reflecting a 7.26% growth. The second quarter alone saw revenues of 190.65 billion yuan, a 44.18% increase year-on-year and a 101.28% increase quarter-on-quarter [9][31]. - The sales revenue from wind turbines and components was 218.52 billion yuan, a 71.15% increase, accounting for 76.58% of total revenue, with a gross margin of 7.97% [14][31]. Business Segments - Wind turbine and component sales are the primary revenue drivers, with significant growth in this segment. Wind farm development revenue decreased by 27.93% year-on-year, while wind power service revenue increased by 21.99% [14][31]. - The company is diversifying its business, focusing on wind turbine manufacturing, wind power services, and wind farm investment and development, with a strong emphasis on technological innovation and international market expansion [23][18]. Future Outlook - The company forecasts revenues of 778.1 billion yuan, 881.4 billion yuan, and 959.1 billion yuan for 2025, 2026, and 2027, respectively, with corresponding net profits of 33.6 billion yuan, 42.7 billion yuan, and 49.7 billion yuan [3][45]. - The report highlights the expected recovery in wind turbine profitability and the growth of international business as key drivers for future performance [2][45].