Xin Lang Cai Jing·2025-09-02 12:44Core Viewpoint - Goldwind Technology reported a significant increase in revenue for the first half of 2025, achieving 28.537 billion yuan, a year-on-year growth of 41.26%, and a net profit attributable to shareholders of 1.488 billion yuan, up 7.26% year-on-year, while the net profit excluding non-recurring items slightly decreased by 0.40% [1][2][3] Revenue and Profit Analysis - In Q2 2025, the company achieved a revenue of 19.065 billion yuan, representing a year-on-year increase of 44.18% and a quarter-on-quarter growth of 101.28%. The net profit attributable to shareholders for the same quarter was 919 million yuan, down 12.80% year-on-year but up 61.78% quarter-on-quarter [2] - The substantial revenue growth in the first half of 2025 was primarily driven by increased sales in the wind turbine and component segments [3] Margin and Cost Management - The overall gross margin for the wind power industry was 15.1% in the first half of 2025, a decrease of 3.07 percentage points year-on-year, mainly due to the significant growth in revenue from the lower-margin wind turbine business [1][3] - The gross margin for the wind turbine business improved to 8%, an increase of 4.2 percentage points year-on-year, indicating a notable recovery in profitability for the main unit business [1][3] - The company successfully reduced its expense ratio by 3.58 percentage points year-on-year, demonstrating effective cost control measures [1][3] Business Segment Performance - The wind turbine and component business generated revenue of 21.85 billion yuan in the first half of 2025, a year-on-year increase of 71.15%, accounting for 76.58% of the company's total revenue [3] - The company sold 10.64 GW of wind turbine units from January to June 2025, marking a year-on-year growth of 106.60%, with sales of units above 6MW becoming the main model, showing a 187% increase in sales capacity year-on-year [3]