Goldwind Science & Technology (002202) Q3 2026 earnings summary

Executive summary

• 9M revenue rose 8.05% YoY to RMB 52.02bn and net profit attributable to shareholders increased 11.25% to RMB 2.88bn; Q3 revenue and attributable profit declined YoY.

• Total turbine orders reached 56.97GW at Sept. 30, up 8.60% YoY, including 11.05GW of overseas orders.

Financial highlights

• Q3 revenue was RMB 18.28bn, down 6.76% YoY; attributable net profit was RMB 1.02bn, down 6.95%.

• 9M revenue was RMB 52.02bn, up 8.05% YoY; attributable net profit was RMB 2.88bn, up 11.25%.

• Adjusted 9M net profit, excluding non-recurring items, was RMB 2.98bn, up 23.34% YoY; Q3 adjusted net profit was RMB 962.4m, down 8.46%.

• 9M operating cash flow was a net outflow of RMB 29.7m, versus a RMB 633.4m outflow in the prior-year period.

Outlook and guidance

• External backlog was 55.10GW, including 39.88GW of outstanding orders and 15.23GW awarded but unsigned; total backlog including 1.87GW of internal orders was 56.97GW, up 8.60% YoY.

• Overseas orders accounted for 11.05GW of external backlog; 10MW-and-above turbines represented 8.16GW of outstanding orders and 5.41GW of awarded but unsigned orders.