XNJJY - Goldwind's Profit Tumbles As China Sales Start To Deflate

2024-04-01 10:00:00 ET

Summary

• Goldwind’s revenue growth slowed to 5.4% in the second half of last year from 15.4% in the first half, as sales in its core China market began to contract.
• The company’s inventory rose sharply last year as the Chinese wind power market slows after several years of big growth.
• The bottom line is that Goldwind is getting shaken by a Chinese wind market whose sails are rapidly deflating after several years of heady growth.

Plenty of mixed signals were blowing through the latest annual results of Goldwind Science And Technology Co. Ltd. ([[XJNGF]], [[XNJJY]], 2208.HK; 002202.SZ), whose fate is largely tied to China’s policy-driven wind power market. The company has been a major beneficiary of policies that have built China into a wind powerhouse over the last few years, with about half the world’s installed capacity for the clean energy source....

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