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Citing a recovering wind industry and a rise in turbine sales, China-based Goldwind has announced some big financial increases for the first half of this year (H1'14).

The company says its revenue from operations increased 37.72% year over year (YOY) to RMB 4.4 billion ($720 million), and its net profit jumped 256.8% YOY to approximately RMB 331 million ($54 million).

"Within the context of a broad industry recovery, the group will take actions to maintain its competitive advantages, pursue innovative and lean management, and strengthen its research and development capabilities," says Ma Jinru, Goldwind's vice president and secretary of the board. "These strategies are designed to fulfill the market-oriented development plan made at the beginning of the year, to satisfy customers' demands and to meet our obligations to other stakeholders throughout the wind power industrial value chain. In the first half of 2014, the group's business performance and new orders improved steadily, maintaining a positive trend."

In H1'14, Goldwind's revenue from sales of wind turbine generators (WTGs) and components was about $600 million, representing an increase of 30.03% YOY. Total sales capacity was 942.25 MW, representing an increase of 42.28% YOY. Backlog of orders under contract was 4,972 MW, and backlog of orders awaiting final contracts was 3,927.5MW. The combined total backlog of orders was 8,899.5 MW.

During the reporting period, the company's revenue from wind power services was about $39 million, representing an increase of 15.73% YOY. Revenue from power generation was about $85 million, representing an increase of 179.33% YOY.

Goldwind also notes that revenue from international business, including in Panama and Pakistan, increased by 25.35% YOY to $102 million - accounting for 14.11% of the company's revenue from operations.





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