China Transmission Swings to Loss after Shifting Business Gears

China High Speed Transmission has logged a first-half loss and a revenue decline, hit by falling prices of wind power equipment and by the impact of the Covid pandemic. However, a foray into commodity trading outside its core business may have been a key factor Key Takeaways: The company reported a year-on-year revenue fall of just under 9% in the first half and posted a net loss of 78.7 million yuan With rising receivables in its commodity trading business, the company needed to borrow more to bolster liquidity, swelling its…

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Goldwind Diversifies with $3 Billion Deep-Sea Wind Power Investment

Leading maker of wind power generation equipment announces major strategic framework agreement with coastal city of Wenzhou Key Takeaways: Xinjiang Goldwind has announced a new tie-up worth nearly $3 billion with the city of Wenzhou involving deep-sea wind power Move will allow the company to develop technology in a major new emerging area, and also help it diversify geographically beyond its controversial home base By Doug Young Buckle up for some deep-sea fishing! Wind energy equipment maker Xinjiang Goldwind Science & Technology Co. Ltd. (2208.HK; 002202.SZ) has just announced a…

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China High Speed Transmission Faces Profit Lull as Core Wind Power Business Slows

Company reported record revenue last year, but the sharp gains were undercut by a decline in its core net profit Key Takeaways: China High Speed Transmission’s core wind power and industrial gear businesses disappointed last year despite a policy environment that favored the company The company formed a major equity tie-up with an asset manager last year, raising cash as it searches for new business opportunities By Lau Ming A strong tailwind fills all sails, to slightly modify an old saying. That should certainly be the case for wind power…

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Latest Financials Breathe New Life Into Xinjiang Goldwind’s Shares

Strongly improving margins in third quarter ease concerns about overreliance on big state-owned customers Key Takeaways Xinjiang Goldwind’s third-quarter profit jumped 47% despite an 11% revenue decline, pointing to strongly improving margins Company’s Hong Kong and Shenzhen-listed shares rallied strongly after the report’s release By Doug Young The latest quarterly report from Xinjiang Goldwind Science & Technology Co. Ltd. (2208.HK; 002202.SZ) is breathing some fresh air into shares of China’s leading maker of wind power equipment. What exactly is behind the lift is a matter for interpretation for this high-profile…

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New Energy Majors Daqo, Goldwind Face Political Heat From Washington

Xinjiang-based companies may get caught up in U.S.-China tussle, but any actions against them could be largely symbolic Key takeaways: New actions by the U.S. against Daqo appear largely symbolic and should have little to no impact on the company Daqo, along with Goldwind, could trade at slight discounts to peers over the next year due to political risk By Doug Young There’s nothing like a good political storm to cast a cloud over some of China’s most promising new energy companies. That’s one of the big messages coming out…

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Major Stakeholder’s Big Demands Send Chill Through Goldwind’s Stock

Wind power equipment maker’s share plunge after it discloses major new business from Three Gorges New Energy, which could divert orders from more profitable customers    Key takeaways: Xinjiang Goldwind’s ties to major stakeholder and customer Three Gorges New Energy are likely to grow as China moves aggressively to install more renewable power Goldwind’s shares could trade at a discount to larger peers due to lower profitability of business from Three Gorges New Energy By Doug Young When is massive new business not necessarily a good thing? If you’re wind…

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Global Heavyweights Inflate Wind Power Specialist Xinjiang Goldwind

Morgan Stanley, JPMorgan, Citigroup and BlackRock all take positions in China’s leading wind power equipment maker as it prepares to announce its latest earnings next week Key takeaways Recent foreign interest in Xinjiang Goldwind is linked to its position as a leading wind power equipment maker, and possibly its latest earnings report due out next week The company’s relationship with the new energy arm of the Three Gorges Dam operator will help it profit from China’s push to boost its green power capacity   By Doug Young Which way is the…

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