Xin Lang Cai Jing·2025-10-10 08:26Core Insights - Goldwind Technology is a leading global wind turbine manufacturer, demonstrating a strong competitive advantage through its integrated business model covering the entire wind power industry chain [1] - The company has maintained its position as the top player in the domestic market for 14 consecutive years, with a market share of 22% and a total new installed capacity of 18.67 GW in 2024 [1] - Globally, Goldwind achieved a new installed capacity of 19.3 GW in 2024, holding a market share of 15.9%, ranking first for three consecutive years [1] Business Segments Summary - Wind Turbine Manufacturing: In 2024, the revenue from wind turbine manufacturing is projected to be 389 billion yuan, accounting for 69% of total revenue. The industry is experiencing a recovery in profitability, with the average bidding price for wind turbines increasing by 10.3% year-on-year to 1616 yuan/kW by June 2025 [2][3] - Wind Power Services: The wind power services segment is expected to generate 55 billion yuan in revenue in 2024, representing 10% of total revenue, with a gross margin of 21.5%. The operational capacity of the company's maintenance services reached 45.95 GW, a year-on-year increase of 37% [3] - Power Generation: The power generation segment has shown strong profitability, with a gross margin recovery to 57% in the first half of 2025. The average utilization hours for self-operated wind farms were 1255 hours, exceeding the industry average by 168 hours [2][3] Financial Projections - Revenue forecasts for 2025, 2026, and 2027 are 741 billion yuan, 876 billion yuan, and 1030 billion yuan, respectively, reflecting year-on-year growth of 30.7%, 18.2%, and 17.5%. Net profit attributable to shareholders is expected to reach 33 billion yuan, 42 billion yuan, and 51 billion yuan, with growth rates of 76.7%, 27.2%, and 21.1% [4]