Goldwind Science&Technology Co., Ltd. (XJNGF) Q2 2025 Earnings Call Transcript

During its Q2 2025 earnings call, Goldwind Science&Technology (XJNGF) highlighted significant growth in the global wind power market, with 2024 new installations reaching 117 GW. Asia-Pacific, particularly China, dominated this expansion, accounting for 75% and 68% of total installations respectively. This growth is underpinned by substantial reductions in the Levelized Cost of Energy (LCOE) for onshore wind, which has declined 70% globally to USD 0.034/kWh and 68% in China to USD 0.029/kWh since 2010, signaling enhanced economic viability for the sector.

Analysis

Based on its Q2 2025 earnings call, Goldwind Science & Technology operates within a robust and expanding global wind power market. The market saw 117 gigawatts of new installations in 2024, with growth heavily concentrated in the Asia-Pacific region, which accounted for 75% of the total. China is the dominant force, representing 68% of all new global installations. A primary driver for this expansion is the significant improvement in economic viability, evidenced by a 70% reduction in the global Levelized Cost of Energy (LCOE) for onshore wind to USD 0.034 per kilowatt-hour since 2010. The trend is even more pronounced in Goldwind's home market of China, where the LCOE has fallen 68% to USD 0.029 per kilowatt-hour, positioning it below the global average and signaling strong domestic demand fundamentals. The company's reference to GWEC data as more authoritative suggests a high degree of confidence in these positive market indicators.

Key Decisions for Investors

• Given that 68% of global wind installations in 2024 were in China, investors should view Goldwind's entrenched position in this key market as a significant potential tailwind for growth.
• The declining LCOE is a critical driver of demand; therefore, it is crucial to monitor commodity prices and technological advancements that could affect future cost trends and project profitability.
• While the concentration in the APAC market is currently a strength, investors should assess the geopolitical risks and the company's strategy for geographic diversification to mitigate long-term concentration risk.