Stock Track | Goldwind Surges 7.4% as First-Half Profit Growth Boosts Outlook

Stock Track08-27

Shares of Goldwind Science&Technology, a leading Chinese wind turbine manufacturer, soared 7.4% during intraday trading on Monday, August 27th, as investors reacted positively to the company's strong financial results for the first half of 2024.

The company reported a significant increase in profit attributable to owners, rising to 1.39 billion yuan ($193 million) for the six months ended June 30, up from 1.25 billion yuan in the same period last year. Goldwind's earnings per share also improved to 0.32 yuan from 0.28 yuan a year earlier.

The solid performance was driven by a 6.5% increase in revenue to 20.14 billion yuan, primarily due to higher sales from wind power services, power station products, and other segments. Goldwind's diversified business portfolio and growing demand for renewable energy solutions contributed to the robust financial results, boosting investor confidence in the company's growth prospects.

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