Goldwind reports strong Q3 2025 earnings, signs new product sales deal

Goldwind Science & Technology Co., Ltd. reported significant growth in its 2025 third quarterly report, with operating income reaching 48.15 bn yuan, a 34.34% year-over-year increase. Net profits attributable to shareholders surged by 44.21% to 2.58 bn yuan. This financial performance was primarily driven by increased sales of wind turbine generators (WTGs) and components. Total assets for the company stood at 167.31 bn yuan, marking a 7.78% increase from December 31, 2024.

Concurrently, Goldwind entered into a new "2026 Product Sales Framework Agreement" with Xinjiang Wind Power on October 24, 2025. This agreement, which covers WTGs, parts, and components, will run from January 1, 2026, to December 31, 2026. The proposed annual cap for transactions under this agreement is 180.32m yuan. As Xinjiang Wind Power is a substantial shareholder, this constitutes a continuing connected transaction, subject to announcement and annual review requirements but exempt from independent shareholders’ approval due to applicable percentage ratios being less than 5%.

The company also detailed its 2024 restricted share incentive scheme, under which 39.4m restricted shares were granted to 460 participants at 4.09 yuan per share on December 13, 2024. Subsequently, an additional 2.83m reserved shares were granted to 52 participants at an adjusted price of 3.95 yuan per share on September 24, 2025. Goldwind additionally noted that as of September 30, 2025, no A or H shares had been repurchased as part of its approved share repurchase plans.