GOLDWIND SCIENCE&TECHNOLOGY CO., LTD. — Earnings Release 2016

Feb 24, 2017

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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PRELIMINARY RESULTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016

This announcement is made pursuant to Rules 13.09(2)(a) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”) and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).

The board of directors (the “ Board ”) of Xinjiang Goldwind Science & Technology Co., Ltd. (the “ Company ”, and together with its subsidiaries, the “ Group ”) wishes to refer the shareholders of the Company and potential investors to the preliminary results of the Group for the financial year ended 31 December 2016 (the “ Reporting Period ”) as detailed below. The information contained in this announcement has been published by the Company on the Shenzhen Stock Exchange on 24 February 2017 pursuant to the requirements of the Shenzhen Stock Exchange.

Shareholders of the Company and potential investors are reminded that the information contained in this announcement is only based on the preliminary assessment by the management of the Company, which has been reviewed by the Company’s Internal Audit, of the unaudited management accounts of the Company prepared in accordance with China Accounting Standards for Business Enterprise (as defined under the Listing Rules), and is not based on any data or information that has been audited or reviewed by the auditors of the Company. There may be discrepancies between the information contained herein and the final data to be disclosed in the Company’s annual report.

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1. Preliminary Results

		Unit:	RMB ten thousand
		(unless otherwise stated)
	Year	ended 31 December	Percentage
	2016	2015	Change
Total operating revenues	2,639,582.93	3,006,209.96	-12.20%
Operating profits	329,107.83	305,088.32	7.87%
Total profits	355,195.63	324,682.97	9.40%
Net profits attributable to the
shareholders of the parent
company	300,298.20	284,949.70	5.39%
Basic earnings per share
(RMB)	1.0841	1.0522	3.03%
Weighted average return on			-1.26 percentage
net assets	16.87%	18.13%	points
		As at 31 December	Percentage
	2016	2015	**Change **
Total assets	6,456,646.36	5,257,240.08	22.81%
Total equity attributable to the
shareholders of the parent	1,997,615.20		19.18%
company		1,676,144.61
Total number of shares
(ten thousand shares)	273,554.10	273,554.10	0.00%
Net assets per share
attributable to the
shareholders of the parent
company (RMB)	7.30	6.13	19.09%

2. Discussion and Analysis

The Group’s total operating revenues for the Reporting Period decreased by 12.20%, operating profits, total profits, net profits attributable to owners of the parent company, and basic earnings per share for the Reporting Period increased by 7.87%, 9.40%, 5.39% and 3.03% respectively, mainly due to implementation of lean management and value management, profitability continued to improve over the Reporting Period. In addition, the Group’s installed wind farm capacity increased year-over-year resulting in higher electricity sales.

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3. Differences with Disclosed Results Forecast

The preliminary results disclosed in this announcement falls within the forecasted range that was disclosed in the Company’s 2016 Third Quarterly Report published on 28 October 2016.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board Xinjiang Goldwind Science & Technology Co., Ltd. Ma Jinru Company Secretary

Beijing, 24 February 2017

As at the date of this announcement, the Company’s executive directors are Mr. Wu Gang, Mr. Wang Haibo and Mr. Cao Zhigang; non-executive directors are Mr. Zhao Guoqing and Mr. Feng Wei; and the independent non-executive directors are Mr. Yang Xiaosheng, Mr. Luo Zhenbang, and Dr. Tin Yau Kelvin Wong.

* For identification purpose only

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