Goldwind market cap is ¥78.1 b, and annual revenue was ¥37.88 b in FY 2019

Goldwind Gross profit (H1, 2020)3.3 B

Goldwind Gross profit margin (H1, 2020), %17.1%

Goldwind Net income (H1, 2020)1.3 B

Goldwind Cash, 30-Jun-20207.1 B

Goldwind EV92.9 B

Goldwind revenue was ¥37.88 b in FY, 2019 which is a 32.5% year over year increase from the previous period.

Goldwind revenue breakdown by business segment: 11.2% from Wind Farm Development, 9.4% from Wind Power Services, 76.2% from Wind Turbine Generator Manufacturing and Sale and 3.1% from Other

Goldwind revenue breakdown by geographic segment: 9.0% from Overseas and 91.0% from China

CNY | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|

## Revenue | 25.0b | 28.6b | 37.9b |

| 14% | 32% | |

## Cost of goods sold | 17.5b | 21.2b | 30.9b |

## Gross profit | 7.5b | 7.3b | 7.0b |

| 30% | 26% | 18% |

## Sales and marketing expense | 2.1b | 1.9b | 2.8b |

## General and administrative expense | 2.5b | 2.7b | 2.6b |

## Operating expense total | 5.0b | 4.9b | 6.1b |

## Interest expense | 865.4m | 1.1b | 1.2b |

## Interest income | 47.6m | 35.6m | 40.7m |

## Pre tax profit | 3.5b | 3.7b | 2.6b |

## Income tax expense | 341.7m | 399.8m | 331.4m |

## Net Income | 3.1b | 3.3b | 2.2b |

## EPS | 0.8 | 0.9 | 0.5 |

CNY | H1, 2018 | H1, 2019 | H1, 2020 |
---|---|---|---|

## Revenue | 11.0b | 15.7b | 19.4b |

## Cost of goods sold | 7.5b | 12.4b | 16.0b |

## Gross profit | 3.4b | 3.3b | 3.3b |

| 31% | 21% | 17% |

## Sales and marketing expense | 612.3m | 1.3b | 1.5b |

## General and administrative expense | 928.9m | 1.2b | 1.3b |

## Operating expense total | 1.8b | 2.7b | 3.2b |

## Interest expense | 537.7m | 578.4m | 509.5m |

## Interest income | 13.7m | 15.2m | 70.7m |

## Pre tax profit | 1.8b | 1.4b | 1.4b |

## Income tax expense | 189.5m | 211.1m | 145.6m |

## Net Income | 1.6b | 1.2b | 1.3b |

## EPS | 0.4 | 0.3 | 0.3 |

CNY | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|

## Cash | 6.8b | 5.0b | 6.8b |

## Accounts Receivable | 17.0b | 16.9b | 18.0b |

## Inventories | 4.1b | 5.0b | 8.1b |

## Current Assets | 33.1b | 32.9b | 48.4b |

## PP&E | 22.8b | 25.5b | 29.0b |

## Goodwill | 497.6m | 487.7m | 470.2m |

## Total Assets | 72.8b | 81.4b | 103.1b |

## Accounts Payable | 15.3b | 20.0b | 25.4b |

## Short-term debt | 6.0b | 3.5b | 5.7b |

## Current Liabilities | 29.6b | 31.6b | 49.6b |

## Long-term debt | 15.9b | 18.9b | 16.0b |

## Non-Current Liabilities | 19.7b | 23.3b | 21.3b |

## Total Debt | 21.9b | 22.3b | 21.7b |

## Common Stock | 3.6b | 3.6b | 4.2b |

## Retained Earnings | 8.1b | 10.5b | 11.3b |

## Total Equity | 23.5b | 26.5b | 32.2b |

## Debt to Equity Ratio | 0.9 x | 0.8 x | 0.7 x |

## Debt to Assets Ratio | 0.3 x | 0.3 x | 0.2 x |

## Financial Leverage | 3.1 x | 3.1 x | 3.2 x |

CNY | H1, 2018 | H1, 2019 | H1, 2020 |
---|---|---|---|

## Cash | 4.2b | 5.2b | 7.1b |

## Accounts Receivable | 20.0b | 22.3b | 19.6b |

## Inventories | 3.7b | 8.4b | 8.8b |

## Current Assets | 31.7b | 44.4b | 43.6b |

## PP&E | 24.0b | 27.1b | 30.2b |

## Goodwill | 490.6m | 474.6m | 474.9m |

## Total Assets | 74.8b | 96.8b | 102.6b |

## Accounts Payable | 14.3b | 23.5b | 20.0b |

## Short-term debt | 5.5b | 5.2b | 4.5b |

## Current Liabilities | 28.2b | 40.5b | 46.3b |

## Long-term debt | 18.9b | 20.6b | 17.3b |

## Non-Current Liabilities | 22.7b | 25.2b | 23.3b |

## Total Debt | 24.4b | 25.8b | 21.9b |

## Common Stock | 3.6b | 4.2b | 4.2b |

## Retained Earnings | 8.9b | 10.4b | 11.8b |

## Total Equity | 23.9b | 31.1b | 32.9b |

## Debt to Equity Ratio | 1 x | 0.8 x | 0.7 x |

## Debt to Assets Ratio | 0.3 x | 0.3 x | 0.2 x |

## Financial Leverage | 3.1 x | 3.1 x | 3.1 x |

CNY | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|

## Depreciation and Amortization | 1.1b | 1.4b | 1.6b |

## Accounts Receivable | (1.3b) | (166.2m) | (937.7m) |

## Inventories | (847.9m) | (869.0m) | (3.1b) |

## Accounts Payable | 1.0b | 2.9b | 2.3b |

## Cash From Operating Activities | 3.0b | 3.1b | 5.9b |

## Purchases of PP&E | (4.8b) | (5.9b) | (11.0b) |

## Cash From Investing Activities | (7.1b) | (6.1b) | (10.3b) |

## Long-term Borrowings | (3.3b) | (10.9b) | (7.6b) |

## Dividends Paid | (654.6m) | (805.2m) | (1.2b) |

## Cash From Financing Activities | 3.4b | 1.2b | 6.1b |

## Net Change in Cash | (692.6m) | (1.8b) | 1.8b |

## Interest Paid | 802.5m | 1.1b | 1.1b |

## Income Taxes Paid | 534.7m | 399.8m | 331.4m |

CNY | H1, 2018 | H1, 2019 | H1, 2020 |
---|---|---|---|

## Depreciation and Amortization | 615.5m | 806.2m | 859.3m |

## Accounts Receivable | (1.2b) | (5.6b) | (1.8b) |

## Inventories | 284.0m | (3.4b) | (651.4m) |

## Accounts Payable | (1.4b) | 3.5b | (5.3b) |

## Cash From Operating Activities | (2.7b) | (3.2b) | 1.7b |

## Purchases of PP&E | (2.5b) | (4.6b) | 2.2b |

## Cash From Investing Activities | (1.4b) | (4.2b) | (649.0m) |

## Long-term Borrowings | (2.8b) | (2.7b) | (4.6b) |

## Dividends Paid | (859.0k) | (12.5m) | (71.6m) |

## Cash From Financing Activities | 1.6b | 7.4b | (686.8m) |

## Net Change in Cash | (2.5b) | 97.3m | 332.9m |

## Interest Paid | 495.2m | 575.6m | 444.3m |

## Income Taxes Paid | 283.5m | 211.7m | 421.6m |

CNY | FY, 2017 |
---|---|

## Revenue/Employee | 3.0m |

## Debt/Equity | 0.9 x |

## Debt/Assets | 0.3 x |

## Financial Leverage | 3.1 x |

Goldwind's employees are reported to be approximately 20% female and 80% male.

FY, 2019 | FY, 2018 | FY, 2017 | |
---|---|---|---|

Technical Staff | 31.5% | 35.8% | 34.4% |

Production | 15.3% | 7.2% | 10.3% |

General and Administrative | 21.1% | 22.7% | 22.4% |

Sales and Marketing | 10.6% | 9.8% | 6.3% |

Customer Service | 21.4% | 24.5% | 26.6% |

- Source: www.goldwindglobal.com