China Goldwind’s Shares Jump Most in 4 Years on Profit Growth
(Bloomberg) -- China’s Goldwind Science & Technology Co., the world’s largest wind-turbine maker, saw shares jump the most in four years as strong domestic demand boosted its profits.
Shares in Hong Kong surged as much as 17%, the highest intraday gain since 2021. The firm late Friday reported higher profit and revenue in the first half after sales of wind turbines soared 71%.
China added 51.4 gigawatts of wind power in the first half, double that of the same period last year, after developers rushed to install renewables projects to lock in better returns ahead of less favorable pricing policies from June.
The company also nearly doubled the margins it earns making turbines to 7.9%, a rare increase amid the larger deflationary spiral in the Chinese economy. Citigroup Inc. analyst Pierre Lau cited the rising margin in maintaining his buy rating on the firm in a note on Friday.
Goldwind attributed its earnings growth to the development of renewables as a mainstay source of energy in China. The company also said it’s reaping the benefit of serving diverse platforms, from large onshore bases to offshore projects and distributed wind power.
©2025 Bloomberg L.P.
