Goldwind Shares Drop Over 4% in Early Trading as Q3 Revenue and Profit Decline, Overseas Business Impacted by Delivery Schedule

Stock News10-26

Goldwind Science&Technology Co.,Ltd. (02208) fell more than 4% in early trading. As of press time, the stock was down 4.45% at HK$6.975, with a turnover of HK$22.6709 million.

On the news front, Goldwind Science&Technology Co.,Ltd. announced that its third-quarter operating revenue was RMB 18.284 billion, down 6.76% year-on-year; net profit attributable to shareholders was RMB 1.021 billion, down 6.95% year-on-year. For the first three quarters, operating revenue reached RMB 52.023 billion, up 8.05% year-on-year; net profit attributable to shareholders was RMB 2.875 billion, up 11.25% year-on-year.

Huatai Securities released a research report stating that it expects Goldwind Science&Technology Co.,Ltd.'s self-operated wind farm profit contribution in Q3 to decline quarter-on-quarter, while a decrease in the proportion of overseas deliveries may drag on turbine profitability, putting pressure on non-GAAP profit on a quarter-on-quarter basis. Meanwhile, the company's Q3 net fair value change gain was RMB 590 million (compared to -RMB 30 million in Q2), mainly driven by investment gains from the listing of Luoyang Bearing.

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