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Firm’s annual results lead China wind power with 20% of market

Goldwind ‘s installed 3,600MW represents largest market share in China

On top: Goldwind is leading wind power in China
On top: Goldwind is leading wind power in China

China turbine manufacturer Goldwind has announced its latest annual results to show it is China’s market leader in wind power. The results, of the year ended 31 December 2011, represent a domestic market share of 20.4 per cent.

Wu Gang, chairman and chief executive officer of Goldwind, said the group installed 3,600MW in China during 2011, representing the largest market share in China, up from second largest in 2010.

The company said volatility in the domestic and global economies in 2011 presented great challenges for the wind power industry. But during this time the company generated revenues of RMB 12,755.97m and net profits of RMB 717.99m. Basic earnings per share for the year were RMB 0.23m. High quality wind power products and services are claimed to support the company’s rise to become China's largest wind turbine manufacturer.

Wu Gang said: "In 2011, the group prepared for industry and market changes by focusing on innovation and accelerating product upgrades and development. We also expanded our global operations, strengthened our comprehensive solutions capabilities, and increased the operating scale of our investment in wind farms and our wind power services segment."

He added: “Although our financial performance was negatively impacted by slower market conditions, the group nonetheless achieved success in areas that are essential to sustaining our long-term development, including R&D, quality control, order intake, services, and international growth.

“In the future, the industry's focus will shift towards quality, innovation, services, new profit models, and differentiation strategies,” he said. “Customers will be increasingly concerned with power generation efficiency and the lifetime cost per kilowatt-hour. Because our wind turbines are highly efficient, reliable, and have low operating and maintenance costs, our core competitive advantages position us well for long-term development and strengthen our lead in the industry."

In the area of R&D and manufacturing, the company said it strived to improve quality to further enhance product value. At the end of 2011, the group's total installed capacity of wind energy turbines in China was 12,678.85MW, including 6,217 units of 1.5MW WTGs and 46 units of 2.5MW WTGs.

Research and technology development is a particular focus for the company. This includes research and development of a 6.0MW offshore WTG unit progressed as scheduled, with trial production of key components completed during the year under review. A prototype is expected later this year.

Goldwind said it now “seeks to expand, enhance and strengthen the competitiveness of its operations in the wind power services segment.”