GOLDWIND SCIENCE&TECHNOLOGY CO., LTD. — Interim / Quarterly Report 2017

Oct 26, 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.

==> picture [477 x 147] intentionally omitted <==

2017 THIRD QUARTERLY REPORT

Summary

The Board of the Company hereby announces the 2017 Third Quarterly Report of the Group which has been prepared in accordance with PRC GAAP and is unaudited.

This announcement is made in accordance with Rule 13.09 of the Listing Rules and the Inside Information Provisions under Part XIVA of the SFO.

The board of directors (the “ Board ”) of Xinjiang Goldwind Science & Technology Co., Ltd. (the “ Company ”) hereby announces the unaudited financial results of the Company and its subsidiaries (collectively, the “ Group ”) for the nine months ended 30 September 2017 (the “ 2017 Third Quarterly Report ” or “ this report ”), which have been prepared in accordance with the People’s Republic of China Accounting Standards for Business Enterprise (the “ PRC GAAP ”). This announcement is made in accordance with Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”) and the inside information provisions (the “ Inside Information Provisions ”) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong ) (“ SFO ”).

The 2017 Third Quarterly Report is written in both Chinese and English. In the case of any discrepancies, the Chinese version of this report shall prevail over its English version.

1

The 2017 Third Quarterly Report of Xinjiang Goldwind Science & Technology Co., Ltd.

§1 IMPORTANT NOTICE

• 1.1 The Board, the supervisory committee, as well as the directors, supervisors and senior management of the Company, collectively and individually, accept responsibility for the truthfulness, accuracy and completeness as to the contents of this report, and warrant that there are no false representations, misleading statements or material omissions of information in this report.

• 1.2 All the members of the Board attended the board meeting that considered and approved this report.

• 1.3 The legal representative of the Company, Mr. Wu Gang, person-in-charge of accounting affairs, Mr. Huo Changbao, and head of the accounting department, Mr. Lv Peng, jointly declare that the financial statements as set out in this report are truthful, accurate and complete.

§2 PRINCIPAL ACCOUNTING FIGURES AND SHAREHOLDER INFORMATION

2.1 Principal accounting figures

	As at	As at	As at	As at	Percentage
	30 September 2017		31 December 2016		Change
	67,825,364,750.81		64,437,164,996.24
					5.26%
Total assets (RMB)
Total equity attributable to	21,673,905,872.43		19,976,152,035.10
					8.50%
owners of the parent
company (RMB)
				For the Period of
	For the Period of	Percentage			Percentage
				1 January to
	1 July to	Change			Change
				30 September
	30 September	Year-over-			Year-over-
				2017
	2017	Year			Year
				(the “Reporting
		(“YoY”)			(“YoY”)
				Period”)
	7,167,227,348.80			17,006,751,441.72
		18.58%			0.25%
Operating income(RMB)
Net profits attributable to	1,163,247,132.74			2,296,165,383.59
		68.44%			7.26%
owners of the parent
company (RMB)
Net profits attributable to
owners of the parent
	1,051,344,807.19	70.19%		2,144,930,486.08	4.76%
company after deducting
non-recurring gains and
losses(RMB)
Net cash flows from	527,081,571.75	-49.04%		-1,024,449,635.17	-3.97%
operatingactivities(RMB)
Basic earnings per share	0.3220	65.81%		0.6307	4.77%
(RMB/share)

2

Diluted earnings per share	0.3220	65.81%	0.6307	4.77%
(RMB/share)
Weighted average return on	5.67%	1.95%	11.43%	-0.58%
net assets

Note:

Basic earnings per share and diluted earnings per share for the period of 1 July to 30 September 2017 and for the Reporting Period were re-calculated based on the number of shares after the implementation of 2016 profit distribution plan, which is the distribution of 3 bonus shares per every ten shares held by the Company’s shareholders based on the total capital as at the end of 2016. The 2016 profit distribution plan has been approved on the annual general meeting convened on 28 June 2017.

Unit: RMB

Non-recurring Gains and Losses Items	Amount for the
		Notes
	Reporting Period
Gains or losses on disposal of non-current
assets (including provisions for asset	-1,847,817.46
impairment write-offs)
Tax refund or exemptions pursuant to an ultra
vires approval or not supported by any official	0.00
document
Government grants accounted in profit and
loss of the reporting period (excluding grants
that are closely related to the normal
	150,940,167.82
operations of the Company, and grants in
compliance with national policies or subject to
fixed amounts under certain standards)
Fund possession fee received from
non-financial enterprises and credited to profit	0.00
or loss for the current period
Gains arising from the investment costs for
acquisition of subsidiaries, associates and
joint ventures being less than the fair value of	0.00
attributable identifiable net assets of such
investees at the time of acquisition
Gains /losses from non-monetary assets swap	0.00
Gains/losses from entrusted investment or
	0.00
asset management
Provision for impairment of assets due to
	0.00
force majeure i.e. natural disaster
Gains/losses from debt restructuring	0.00
Corporate restructuring expenses, i.e.
expenses on employee placement,	0.00
consolidation costs, etc.
Profit/loss from the excess over the fair value
	0.00
in a transaction at an apparentlyunfair

3

consideration
Current net gains/losses of subsidiaries from
business combination under common control
	0.00
from the beginning of the period to the date of
combination
Gains/losses from contingencies irrelevant to
	0.00
the normal operations of the Company
Gains or losses from changes in fair values of
financial assets held for trading and financial
liabilities held for trading, and investment
gains from disposal of financial assets held for
	42,604,912.03
trading, financial liabilities held for trading
and available-for-sale financial assets,
excluding hedging activities related to the
ordinary business of the Company
Reverse of the provision for impairment of
	0.00
receivables individually tested for impairment
Gains/losses from entrusted loans granted to
	0.00
external parties
Gains/losses from changes in fair value of
investment properties subsequently measured	0.00
at fair value
Effects of one-off adjustment to current profit
or loss in accordance with tax, accounting or	0.00
other laws and regulations
Income of entrustment fees from entrusted
	0.00
operations
Other non-operating incomes and expenses	-8,274,790.85
Other gains or losses items falling within the
definition of a non-recurring gains and losses	0.00
items
Less: Relevant income tax	32,593,401.52
Relevant amount attributable to
	-405,827.49
minority shareholders (after tax)
Total	151,234,897.51

4

2.2 Total number of shareholders and shareholdings of the top 10 shareholders as at the end of the Reporting Period

Unit: Shares

Total Number of Shareholders	Total Number of Shareholders	130,401	130,401	Total Number of Preliminary Shareholders with Recovered Voting Rights at the end of the Reporting Period (ifany)	Total Number of Preliminary Shareholders with Recovered Voting Rights at the end of the Reporting Period (ifany)	Total Number of Preliminary Shareholders with Recovered Voting Rights at the end of the Reporting Period (ifany)	Total Number of Preliminary Shareholders with Recovered Voting Rights at the end of the Reporting Period (ifany)	0	0
Shareholdings of Top 10 Shareholders
						Number	**Pledged or Frozen **
			Percentage		Number	of Shares
Name	Type
			of Total		of Shares	Subject to	Condition		Amount
						Lock-up
HKSCC NOMINEES LTD. (香港中央結算(代 理人)有限公司)	Overseas legal person		18.23%		648,357,465
Xinjiang Wind Power Co., Ltd. (新疆風能有限 責任公司)	State- owned legal person		13.74%		488,696,502
							Pledged		97,011,200
China Three Gorges New Energy Co., Ltd. (中國三 峽新能源有限公司)	State- owned legal person		10.52%		373,957,073
Anbang Life Insurance Co., Ltd. – Conservative Portfolios Account (安邦 人壽保險股份有限公 司—保守型投資組合)	Other		7.84%		278,904,260
Hexie Health Insurance Co., Ltd. – All-powerful Products Account (和諧 健康保險股份有限公司 －萬能產品)	Other		4.14%		147,222,544
National Social Security Fund - Porfolio 113（全 國社保基金一一三組合）	Other		2.18%		77,678,541
Central Huijin Investment Ltd. (中央匯金資產管理有限 責任公司)	Other		1.68%		59,877,610
Wu Gang (武鋼)	Domestic natural person		1.47%		52,217,152	39,162,864
Anbang Wealth Insurance Co., Ltd. – Group All-powerful Products Account (安邦養老保險股份有限 公司—團體萬能產品)	Other		0.87%		31,109,165
Haitong Securities Asset Management -	Other		0.72%		25,431,900	25,431,900

5

China Merchants – Securities Haitong Goldwind Collective Asset Management Plan 2 (海通證券資管－招商證 券－海通金風 2 號集合 資產管理計畫)

Shareholdings of Top 10 Shareholders Not Subject to Lock-up	Shareholdings of Top 10 Shareholders Not Subject to Lock-up	Shareholdings of Top 10 Shareholders Not Subject to Lock-up	Shareholdings of Top 10 Shareholders Not Subject to Lock-up
		Share Category
Name	Number of Shares
		Category	Amount
HKSCC NOMINEES LTD. (香港中央結算(代 理人)有限公司)	648,357,465	Overseas listed	648,357,465
		foreign shares
Xinjiang Wind Power Co., Ltd. (新疆風能有限 責任公司)	488,696,502	RMB
			488,696,502
		denominated
		ordinaryshares
China Three Gorges New Energy Co., Ltd. (中 國三峽新能源有限公司)	373,957,073	RMB
			373,957,073
		denominated
		ordinaryshares
Anbang Life Insurance Co., Ltd.– Conservative Portfolios Account (安邦人壽保 險股份有限公司—保守型投資組合)	278,904,260	RMB
			278,904,260
		denominated
		ordinary shares
Hexie Health Insurance Co., Ltd. – All-powerful Products Account (和諧健康保險 股份有限公司－萬能產品)	147,222,544	RMB
			147,222,544
		denominated
		ordinaryshares
National Social Security Fund - Porfolio 113 （全國社保基金一一三組合）	77,678,541	RMB
			77,678,541
		denominated
		ordinaryshares
Central Huijin Investment Ltd.(中央匯金投資 有限責任公司)	59,877,610	RMB denominated ordinaryshares	59,877,610
Anbang Wealth Insurance Co., Ltd. – Group All-powerful Products Account(安邦養老保險 股份有限公司—團體萬能產品)	31,109,165	RMB
			31,109,165
		denominated
		ordinaryshares
Wang Xiangming (王相明)	24,505,520	RMB
			24,505,520
		denominated
		ordinaryshares
Anbang Insurance Group Co., Ltd.– Traditional Insurance Product (安邦保險集團 股份有限公司－傳統保險產品)	22,247,680
		RMB
			22,247,680
		denominated
		ordinary shares
	Connected relations between Xinjiang Wind Power Co., Ltd. and China Three Gorges New Energy Co., Ltd. are as follows: China Three Gorges New Energy Co., Ltd. holds 43.33% of the issued share capital of Xinjiang Wind Power Co., Ltd. in total. Anbang Insurance Group Co., Ltd. is the substantial shareholder of Anbang Life Insurance Co., Ltd., Hexie Health Insurance Co., Ltd. and Anbang Annuity Insurance Co., Ltd., holding 99.98% of AnbangLife Insurance Co.,Ltd.,98.31% of Hexie
Details of connected relations of the above
shareholders or whether or not they are acting in
concert

6

==> picture [207 x 85] intentionally omitted <==

Health Insurance Co., Ltd. and 99.99% of Anbang Annuity Insurance Co., Ltd., respectively. The above companies have not signed concerted action agreements nor agreed on acting in concert. But the above companies are concerted action persons because of the connected relationship.

§3 SIGNIFICANT EVENTS

3.1 Significant changes, and respective explanations, to key accounting items and financial indicators during the Reporting Period

1. Currency funds as at 30 September 2017 was RMB3,968,999,338.67, representing a decrease of 52.03% compared with the balance as at 31 December 2016, mainly due to an increase in cash paid for investment in wind farms by the Group during the Reporting Period.

2. Financial assets measured at fair value through profit or loss for the current period as at 30 September 2017 was RMB80,499,900.82, representing an increase of 210.36% compared with the balance as at 31 December 2016, mainly due to the increase in financial assets from the equity transfer forward contract entered into by the subsidiary of the Group during the Reporting Period.

3. Available-for-sale financial assets as at 30 September 2017 was RMB0.00, representing a decrease of 100.00% compared with the balance as at 31 December 2016, mainly due to the maturity of available-for-sale wealth management products purchased by the Group during the Reporting Period.

4. Bills receivable as at 30 September 2017 was RMB1,514,138,186.11, representing a decrease of 31.14% compared with the balance as at 31 December 2016, mainly due to an increase in bills endorsed by the Group during the Reporting Period.

5. Prepayments as at 30 September 2017 was RMB1,041,168,226.34, representing an increase of 76.91% compared with the balance as at 31 December 2016, mainly due to the increased prepayments for purchasing materials to meet future orders during the Reporting Period.

6. Interest receivable as at 30 September 2017 was RMB5,706,701.56, representing an increase of 2,585.51% compared with the balance as at 31 December 2016, mainly due to the increase in interests receivable from held to maturity investment by the Group during the Reporting Period.

7. Dividends receivable as at 30 September 2017 was RMB60,392,056.43, representing an increase of 192.68% compared with the balance as at 31 December 2016, mainly due to the increase in dividends receivable from associated enterprises and joint ventures by the Group during the Reporting Period.

8. Inventories as at 30 September 2017 was RMB4,901,936,713.60, representing an increase of 53.56% compared with the balance as at 31 December 2016, mainly due to the increase in inventories to enable the Group to meet future orders during the Reporting Period.

9. Assets of disposal groups classified as held for sale as at 30 September 2017 was RMB0.00, representing a decrease of 100.00% compared with the balance as at 31 December 2016, mainly due to the equity transfer in which Beijing Tianrun, a subsidiary of the Group, completed the disposal of its 30% equity interest in Qiaojia Tianqiao Wind Power Co., Ltd., Nanyang Runtang New Energy Co., Ltd., Shuozhou

7

• City Pinglu Sineng Wind Power Co., Ltd. and Zibo Runchuan New Energy Co., Ltd. to Apple Operations during the Reporting Period.

• Long-term receivables as at 30 September 2017 was RMB6,689,632,391.34, representing an increase of 50.67% compared with the balance as at 31 December 2016, mainly due to the increase in receivables for long-term finance lease payments and receivables for service concession agreements during the Reporting Period.

• Long-term equity investments as at 30 September 2017 was RMB2,112,541,824.25, representing an increase of 61.51% compared with the balance as at 31 December 2016, mainly due to the partial disposal of equity interest in Qiaojia Tianqiao Wind Power Co., Ltd., Nanyang Runtang New Energy Co., Ltd., Shuozhou City Pinglu Sineng Wind Power Co., Ltd. and Zibo Runchuan New Energy Co., Ltd. by a subsidiary of the Group during the Reporting Period, following which, the four subsidiaries became joint ventures and profit of associated enterprises and joint ventures increased.

• Construction in progress as at 30 September 2017 was RMB3,528,768,445.92, representing an increase of 47.95% compared with the balance as at 31 December 2016, mainly due to the increase in wind farms under construction during the Reporting Period.

• Intangible assets as at 30 September 2017 was RMB1,627,237,232.72, representing an increase of 62.30% compared with the balance as at 31 December 2016, mainly due to the increase in licenses for wind power projects from acquisition of subsidiaries by the Group during the Reporting Period.

• Development expenses as at 30 September 2017 was RMB14,260,663.40, representing a decrease of 78.24% compared with the balance as at 31 December 2016, mainly due to the reclassification of part of the capital expenditure for development to intangible assets during the Reporting Period.

• Long-term deferred expenses as at 30 September 2017 was RMB38,461,122.32, representing a decrease of 32.97% compared with the balance as at 31 December 2016, mainly due to the decrease in long-term deferred items of the Group during the Reporting Period.

• Tax payables as at 30 September 2017 was RMB390,252,492.69, representing a decrease of 36.03% compared with the balance as at 31 December 2016, mainly due to the decrease in income tax payable as a result of completion of settlement and payment during the Reporting Period.

• Interest payable as at 30 September 2017 was RMB50,093,640.88, representing a decrease of 45.00% compared with the balance as at 31 December 2016, mainly due to the interest for loans, for which the provision was made at the end of last year, paid by the Group during the Reporting Period.

• Liabilities directly associated with the assets classified as held for sale as at 30 September 2017 was RMB0.00, representing a decrease of 100.00% compared with the balance as at 31 December 2016, mainly due to the equity transfer in which Beijing Tianrun, a subsidiary of the Group, completed the disposal of its 30% equity interest in Qiaojia Tianqiao Wind Power Co., Ltd., Nanyang Runtang New Energy Co., Ltd., Shuozhou City Pinglu Sineng Wind Power Co., Ltd. and Zibo Runchuan New Energy Co., Ltd. to Apple Operations during the Reporting Period.

• Non-current liabilities due within one year as at 30 September 2017 was RMB1,833,108,718.13, representing an increase of 105.87% compared with the balance as at 31 December 2016, mainly due to the increased long-term borrowings due within one year during the Reporting Period.

• Deferred tax liabilities as at 30 September 2017 was RMB239,636,661.58, representing

8

an increase of 137.58% compared with the balance as at 31 December 2016, mainly due to the increase in deferred tax liabilities as a result of acquisition of subsidiaries by the Group during the Reporting Period.

1. Share capital as at 30 September 2017 was RMB3,556,203,300.00, representing an increase of 30.00% as compared to 31 December 2016, mainly due to the completion of 2016 share dividend distribution during the Reporting Period.

2. Tax and surcharge for the Reporting Period was RMB98,517,454.28, representing an increase of 37.76% YoY，mainly due to an increase in the Group’s tax base of taxes and surcharges during the Reporting Period.

3. Impairment loss of assets for the Reporting Period was RMB230,501,646.98, representing an increase of 34.13% YoY，mainly due to an increase in provision for impairment in relation to the Group’s overdue accounts receivable during the Reporting Period.

4. Gains from changes in fair values for the Reporting Period was RMB39,711,901.44, representing an increase of 3,396.94% YoY, mainly due to the increased fair value of the Group’s financial assets measured at fair value through profit or loss for the current period during the Reporting Period.

5. Investment income for the Reporting Period was RMB845,106,176.50, representing an increase of 118.44% YoY, mainly due to the investment income from the transfer of partial equity interest in a subsidiary of the Group, and the increase in investment income from associated enterprises and joint ventures of the Group.

6. Other income for the Reporting Period was RMB229,455,231.34, representing an increase of 100.00% YoY, mainly due to the transfer of government subsidies related to daily activities from non-operating income to other income in accordance with Accounting Standards for Business Enterprises No.16-Government Grants during the Reporting Period.

7. Non-operating income for the Reporting Period was RMB4,812,317.80, representing a decrease of 97.43% YoY, mainly due to the transfer of government subsidies related to daily activities from non-operating income to other income in accordance with Accounting Standards for Business Enterprises No.16-Government Grants during the Reporting Period.

8. Net cash flows from financing activities for the Reporting Period was RMB1,698,187,449.37, representing a decrease of 65.50% YoY, mainly due to the larger borrowings obtained for the construction of wind farms in the corresponding period last year.

3.2 Analysis and discussion on the progress of significant events, their impact and resolutions

1. The Group did not have any controlling shareholders or de facto controllers, and had not provided funds to any of its shareholders or any of their connected persons, nor had it provided any guarantees to any parties that were not in compliance with the relevant regulations.

2. Group Orders

As at 30 September 2017, the Group had a total of 9,623.3MW of outstanding orders, including 6MW of 750kW WTGs, 1,143MW of 1.5MW WTGs, 5,104MW of 2.0MW WTGs, 330MW of 2.2MW WTGs, 2,765MW of 2.5MW WTGs, 78MW of 3.0MW WTGs, 145.2MW of 3.3MW, 38.7MW of 6.45MW WTGs, and 13.4MW of 6.7MW.

In addition, the Group had won bids for projects totalling 5,760.05MW for which contracts have not yet been signed, including 279MW of 1.5MW WTGs, 3,718MW of 2.0MW WTGs, 250.8MW of

9

2.2MW WTGs, 857.5MW of 2.5MW WTGs, 354MW of 3.0MW WTGs, 178.2MW of 3.3MW WTGs, and 122.55MW of 6.45MW WTGs.

The combined backlog of orders was 15,383.35MW, of which the overseas backlog orders was 980.5MW.

3.3 Commitments given by the Company or its shareholders that hold over 5% of the total share capital during the Reporting Period or continued into the Reporting Period

	Responsible		Particulars of	Date of	Period for	Performed
Commitments
	Parties	Type	Commitments	Commitments	Commitments	or not
Commitments given upon initial public offering or other issuances of shares	Xinjiang Wind Power Co., Ltd.; China Three Gorges New Energy Corporation	Commitment to avoid competition within the same industry	Commitment to avoid competition within the same industry	9 May 2007		Performed
	Wang Haibo, Cao Zhigang, Wu Kai, Huo Changbao, Ma Jinru, Zhou Yunzhi, Haitong Securities Asset Management - China Merchants Securities– Haitong Goldwind Collective Asset Management Plan 1&2	Restricted commitments	Commitment to not transfer any shares subscribed in the non-public offering issue of new shares for 36 months after 18 August 2015.	14 August 2015	36 Months	Performed
Whether or not commitments were
			Yes
performed on time

3.4 Operating results forecast for the year of 2017

Forecast on the operating results of 2017: Positive net profit attributable to shareholders of the listed company and cannot be described as a turnaround situation.

Expected range of percentage
change in net profits attributable	0.00%		50.00%
		to
to owners of the Company for the
year of 2017
Expected range of net profits
attributable to owners of the	300,298.20		450,447.30
		to
Company for the year of 2017
(RMB ten thousand)
Net profits attributable to owners
of the Company for the year of	300,298.20
2016(RMB ten thousand)
	Mainly due to the increase of generating capacity of our wind farms
Reasons for increase/decrease	and the increase of investment income resulting from partial disposal
	of equityinterest of wind farms.

10

3.5 Financial Assets at Fair Value

Unit:RMB

			Cumulative	Purchase Amount
			Change in
							Amount at
			the Fair			Cumulative
	Initial	Fair Value					the end of the	Capital
Assets Class			Value		Sale Amount	Investment
	Investment Cost	Losses or Gains					Reporting	Source
			recorded in			Income
							Period
			owner’s
			equities
Derivative								Existing
	6,509,990.00	39,711,901.44	0.00	0.00	0.00	73,989,910.82	80,499,900.82
Instruments								Funds
								Existing
Other	1,252,204,494.41	0.00	36,037,764.59	0.00	860,000,000.00	-792,657,479.36	459,547,015.05
								Funds
Total	1,258,714,484.41	39,711,901.44	36,037,764.59	0.00	860,000,000.00	-718,667,568.54	540,046,915.87	--

3.6 Violated Guarantee

During the Reporting Period, there is no violated guarantee by the Company.

3.7 Non-business Capital Utilized by the Controlling Shareholders and Their Respective Connected Persons to the Company

During the Reporting Period, there is no non-business capital utilized by the controlling shareholders and their respective connected persons to the Company.

3.8 Investigations, Communications and Interviews Checklist during the Reporting Period

Time	Mode	Object Type	Basic Information
			Industry Outlook,
4 July 2017	Field Investigation	Institution
			Wind Power Technologies
			Interpreting of Wind Power Industry and Policy,
10 July 2017	Field Investigation	Institution
			Market Analysis
			Market Outlook,
17 July 2017	Field Investigation	Institution
			Industry Prospect
			Technology Development,
24 July 2017	Field Investigation	Institution
			Wind Power Industry Policy
			Market Situation,
25 July 2017	Field Investigation	Institution
			Competitive Edge
			Wind Power Industry Recent Situation,
4 September 2017	Field Investigation	Institution	Market Outlook,
			Company Operation,

11

			Financial Standing,
			International Business
			Market Situation,
5 September 2017	Phone Communication	Institution
			Competitive Edge
			Interpreting of Wind Power Industry and Policy,
7 September 2017	Field Investigation	Institution
			Market Outlook
			Market Recent Situation,
8 September 2017	Field Investigation	Institution	Industry Outlook,
			Company Business
			Interpreting of Wind Power Industry and Policy,
12 September 2017	Phone Communication	Institution	Market Outlook
			New Product
			Market Recent Situation,
13 September 2017	Field Investigation	Institution	Industry Outlook,
			Company Business
			Interpreting of Wind Power Industry and Policy,
15 September 2017	Phone Communication	Institution	Market Outlook
			Company Business
			Wind Power Industry Outlook,
19 September 2017	Phone Communication	Institution
			Company Products
			Company Operation and Financial Standing,
20 September 2017	Field Investigation	Institution
			Industry Development Trends
			Company Recent Situation
21 September 2017	Field Investigation	Institution
			Industry Outlook
			Company Recent Situation
21 September 2017	Phone Communication	Institution
			Wind Power Industry Policy
22 September 2017	Field Investigation	Institution	Situation of the Company and Wind Power Industry
			Wind Power Market Situation
22 September 2017	Field Investigation	Institution
			Company Business
			Industry Outlook
25 September 2017	Field Investigation	Institution
			Wind Power Market
			Wind Power Industry Situation
27 September 2017	Field Investigation	Institution
			Company Products
			Wind Power Industry Situation,
27 September 2017	Field Investigation	Institution
			Company Products and Technologies
			Interpreting of Wind Power Industry and Policy,
29 September 2017	Field Investigation	Institution
			Market Outlook

12

§4 FINANCIAL STATEMENTS

4.1 Financial Statements

4.1.1 Consolidated Balance Sheet

Prepared by: Xinjiang Goldwind Science & Technology Co., Ltd. Unit: RMB

Items	As at 30 September 2017	As at 31 December 2016
CURRENT ASSETS:
Currency funds	3,968,999,338.67	8,274,366,868.84
Financial assets measured at fair value through profit or loss for the current period	80,499,900.82	25,937,258.63
Available-for-sale financial assets	0.00	750,000,000.00
Bills receivable	1,514,138,186.11	2,198,843,661.96
Accounts receivable	17,159,058,929.41	14,547,611,855.88
Prepayments	1,041,168,226.34	588,546,007.01
Interest receivable	5,706,701.56	212,500.00
Dividends receivable	60,392,056.43	20,634,084.65
Other receivables	880,232,290.49	796,087,393.03
Inventories	4,901,936,713.60	3,192,279,891.28
Assets of disposal groups classified as held for sale	0.00	1,793,648,688.63
Non-current assets due within one year	351,659,463.81	336,382,474.75
Other current assets	642,116,387.45	572,069,436.70
Total current assets	30,605,908,194.69	33,096,620,121.36
NON-CURRENT ASSETS:
Financial assets measured at fair value through profit or loss for the current period	0.00	1,985,778.68
Available-for-sale financial assets	1,284,121,028.54	1,191,324,624.79
Held to maturity investments	49,984,111.27	49,995,188.87
Long-term receivables	6,689,632,391.34	4,439,961,705.12
Long-term equity investments	2,112,541,824.25	1,307,962,324.09
Investment properties	68,628,205.92	70,800,303.81
Fixed assets	17,960,623,841.01	17,093,558,213.29
Construction in progress	3,528,768,445.92	2,385,132,862.85
Intangible assets	1,627,237,232.72	1,002,592,295.93

13

Development expenses	14,260,663.40	65,543,417.21
Goodwill	493,527,964.95	474,428,591.28
Long-term deferred expenses	38,461,122.32	57,380,639.35
Deferred tax assets	1,478,713,113.33	1,517,390,543.69
Other non-current assets	1,872,956,611.15	1,682,488,385.92
Total non-current assets	37,219,456,556.12	31,340,544,874.88
Total assets	67,825,364,750.81	64,437,164,996.24
CURRENT LIABILITIES:
Short-term borrowings	1,370,317,765.67	1,803,654,209.83
Financial liabilities measured at fair value through profit or loss for the current period	26,686,470.23	0.00
Bills payable	4,615,118,031.53	4,879,121,239.10
Accounts payable	10,292,861,717.97	9,593,599,429.40
Receipts in advance	3,600,940,841.41	3,225,052,940.79
Employee benefits payable	540,051,364.27	667,335,035.26
Tax payables	390,252,492.69	610,055,365.44
Interest payable	50,093,640.88	91,077,139.11
Dividends payable	50,134,339.54	50,000,000.00
Other payables	560,075,153.76	603,437,537.65
Liabilities directly associated with the assets classified as held for sale	0.00	650,099,914.79
Non-current liabilities due within one year	1,833,108,718.13	890,434,323.30
Provisions	1,920,562,148.69	1,599,111,002.61
Total current liabilities	25,250,202,684.77	24,662,978,137.28
NON-CURRENT LIABILITIES:
Long-term borrowings	13,829,120,273.38	11,866,545,667.10
Bonds payable	2,756,208,810.97	3,552,492,825.17
Including: Preferred stock	0.00	0.00
Perpetual debt	0.00	0.00
Long-term payables	893,744,093.18	864,298,781.25
Provisions	2,091,326,597.11	2,366,768,883.13
Deferred income	345,984,524.03	324,420,248.32
Deferred tax liabilities	239,636,661.58	100,866,111.98
Total non-current liabilities	20,156,020,960.25	19,075,392,516.95

14

Total liabilities	45,406,223,645.02	43,738,370,654.23
OWNERS’ EQUITY:
Share capital	3,556,203,300.00	2,735,541,000.00
Other equity instrument	1,495,118,490.57	1,495,118,490.57
Including: Preferred stock	0.00	0.00
Perpetual debt	1,495,118,490.57	1,495,118,490.57
Capital reserve	8,180,529,845.26	8,185,295,097.28
Other comprehensive income	-88,769,880.07	-113,231,785.83
Special reserve	0.00	0.00
Surplus reserve	1,094,425,869.42	1,094,425,869.42
Unappropriated profit	7,436,398,247.25	6,579,003,363.66
Total equity attributable to owners of the parent company	21,673,905,872.43	19,976,152,035.10
Minority interests	745,235,233.36	722,642,306.91
Total owners’ equity	22,419,141,105.79	20,698,794,342.01
Total liabilities and owners’ equity	67,825,364,750.81	64,437,164,996.24
Legal Representative Wu Gang Person-in-charge of accounting affairs: Huo Changbao Head of accounting department: Lv Peng

4.1.2 Parent Company Balance Sheet

Prepared by: Xinjiang Goldwind Science & Technology Co., Ltd. Unit: RMB

Items	As at 30 September 2017	As at 31 December 2016
CURRENT ASSETS:
Currency funds	1,186,917,183.00	4,326,147,657.01
Available-for-sale financial assets	0.00	750,000,000.00
Bills receivable	1,351,185,857.05	2,185,804,941.97
Accounts receivable	11,361,689,201.69	10,060,426,424.77
Prepayments	389,441,018.02	276,640,350.60
Interest receivable	150,959,376.06	205,774,784.30
Dividends receivable	0.00	1,773,402,314.13
Other receivables	6,025,505,130.68	3,718,024,843.94
Inventories	1,712,746,335.55	1,488,302,948.77
Other current assets	55,028,899.22	124,102,958.35
Total current assets	22,233,473,001.27	24,908,627,223.84

15

NON-CURRENT ASSETS:
Available-for-sale financial assets	2,400,000.00	2,400,000.00
Held to maturity investments	49,984,111.27	49,995,188.87
Long-term receivables	4,282,891,367.15	2,540,593,857.21
Long-term equity investments	12,124,068,507.46	12,130,431,319.82
Investment properties	61,199,687.28	62,803,102.08
Fixed assets	176,537,081.50	172,856,272.75
Construction in progress	6,189,013.69	2,969,537.57
Intangible assets	152,226,685.33	87,059,797.42
Development expenses	130,604,237.92	183,191,452.68
Long-term deferred expenses	0.00	444,777.96
Deferred tax assets	631,728,390.81	647,932,449.85
Other non-current assets	175,061,604.46	175,061,604.46
Total non-current assets	17,792,890,686.87	16,055,739,360.67
Total assets	40,026,363,688.14	40,964,366,584.51
CURRENT LIABILITIES:
Short-term borrowings	1,329,816,000.00	1,655,873,613.47
Bills payable	4,320,539,632.55	4,317,318,928.84
Accounts payable	5,201,818,710.12	5,926,364,606.43
Receipts in advance	1,965,439,792.97	2,530,190,218.47
Employee benefits payable	170,882,296.16	228,145,724.15
Tax payables	126,176,798.58	213,429,053.63
Interest payable	111,564,517.11	131,861,587.74
Dividends payable	50,000,000.00	50,000,000.00
Other payables	4,750,551,541.68	3,577,052,944.44
Provision	1,463,678,176.31	1,243,789,359.67
Non-current liabilities due within one year	1,069,321,054.67	184,236,537.86
Total current liabilities	20,559,788,520.15	20,058,262,574.70
NON-CURRENT LIABILITIES:
Long-term borrowings	11,125,000.00	365,850,000.00
Bonds payable	791,019,644.85	1,519,340,897.77
Including: Preferred stock	0.00	0.00
Perpetual debt	0.00	0.00

16

Long-term payables	620,943,019.32	591,660,934.30
Provisions	1,515,878,425.39	1,885,480,210.09
Deferred income	86,091,369.25	122,538,679.88
Total non-current liabilities	3,025,057,458.81	4,484,870,722.04
Total liabilities	23,584,845,978.96	24,543,133,296.74
OWNERS’ EQUITY:
Share capital	3,556,203,300.00	2,735,541,000.00
Other equity instrument	1,495,118,490.57	1,495,118,490.57
Including: Preferred stock	0.00	0.00
Perpetual debt	1,495,118,490.57	1,495,118,490.57
Capital reserve	8,264,710,486.29	8,264,710,486.29
Other comprehensive income	-862,438.62	-1,569,144.23
Special reserve	0.00	0.00
Surplus reserve	1,095,482,471.82	1,095,482,471.82
Unappropriated profit	2,030,865,399.12	2,831,949,983.32
Total owners’ equity	16,441,517,709.18	16,421,233,287.77
Total liabilities and owners’ equity	40,026,363,688.14	40,964,366,584.51
Legal Representative Wu Gang Person-in-charge of accounting affairs: Huo Changbao Head of accounting department: Lv Peng

4.1.3 Consolidated Income Statement for 1 July to 30 September 2017

Prepared by: Xinjiang Goldwind Science & Technology Co., Ltd. Unit: RMB

Items	For the Period of 1 July to 30 September 2017	For the Period of 1 July to 30 September 2016
I. Total operating income	7,167,227,348.80	6,044,095,325.65
Including: Operating income	7,167,227,348.80	6,044,095,325.65
II. Total operating costs	6,669,719,756.88	5,453,073,996.66
Including: Operating costs	5,203,883,625.23	4,245,414,227.97
Tax and surcharge	41,799,373.64	14,551,448.85
Selling and distribution expenses	540,790,785.83	346,057,008.84
Administrative expenses	579,345,528.12	557,999,610.19
Financial expenses	187,163,365.04	207,992,784.80
Impairment loss of assets	116,737,079.02	81,058,916.01
Add: Gains or losses from changes in fair values	72,873,242.26	-359,586.63

17

Investment income	619,812,799.90	104,147,418.77
Including: Gains arising from investments in associated enterprises and joint ventures	24,435,759.22	9,898,337.18
Exchange gains (minus exchange losses)	0.00	0.00
Other income	134,117,096.42	0.00
III. Operating profits (loss will be shown with “-” sign)	1,324,310,730.50	694,809,161.13
Add: Non-operating income	862,730.42	135,984,141.32
Including: Gain arising from disposal of non-current assets	1,314,156.30	260,210.79
Less: Non-operating expenses	4,243,632.09	4,509,724.62
Including: Loss arising from disposal of non-current assets	2,677,787.27	250,860.47
IV. Total profits (loss will be shown with “-” sign)	1,320,929,828.83	826,283,577.83
Less: Income tax expenses	152,799,967.85	128,210,221.05
V. Net profits (loss will be shown with “-” sign)	1,168,129,860.98	698,073,356.78
Net profits attributable to owners of the parent company	1,163,247,132.74	690,601,450.96
Gains or losses from minority interests	4,882,728.24	7,471,905.82
VI. Other comprehensive income	-74,796,515.84	-55,732,445.68
Other comprehensive income attributable to owners of the parent company	-74,796,515.84	-55,732,445.68
Other comprehensive income items which will be reclassified subsequently to profit or loss when specific conditions are met	-74,796,515.84	-55,732,445.68
Available-for-sale investments	-20,152,331.23	-17,983,584.83
Exchange differences on translation of foreign operations	-54,644,184.61	-37,748,860.85
VII. Total comprehensive income	1,093,333,345.14	642,340,911.10
Total comprehensive income attributable to owners of the parent company	1,088,450,616.90	634,869,005.28
Total comprehensive income attributable to minority shareholders	4,882,728.24	7,471,905.82
VIII. Earnings per share
(I) Basic	0.3220	0.1942
(II) Diluted	0.3220	0.1942

18

Legal Representative

Person-in-charge of accounting affairs:

Head of accounting department:

Huo Changbao

Wu Gang

Lv Peng

4.1.4 Parent Company Income Statement for 1 July to 30 September 2017

Prepared by: Xinjiang Goldwind Science & Technology Co., Ltd. Unit: RMB

Items	For the Period of 1 July to 30 September 2017	For the Period of 1 July to 30 September 2016
I. Operating income	4,816,427,060.78	4,414,720,972.87
Less: Operating costs	4,110,885,391.37	3,698,813,496.76
Tax and surcharge	17,121,954.03	4,505,602.29
Selling and distribution expenses	214,985,664.12	58,909,249.94
Administrative expenses	87,363,399.97	183,660,622.67
Financial expenses	14,743,536.76	-14,022,570.75
Impairment loss of assets	29,557,761.63	45,456,507.80
Add: Gains or losses from changes in fair values	0.00	0.00
Investment income	8,811,937.79	3,480,740.37
Including: Gains arising from investments in associated enterprises and joint ventures	209,954.24	-1,279,858.04
Other income	83,328,298.24	0.00
II. Operating profits (loss will be shown with “-” sign)	433,909,588.93	440,878,804.53
Add: Non-operating income	953,082.74	72,502,271.10
Including: Gain arising from disposal of non-current assets	104,619.63	952,565.47
Less: Non-operating expenses	2,194,429.21	3,111,111.53
Including: Loss arising from disposal of non-current assets	3,521.98	81,649.30
III. Total profits (loss will be shown with “-” sign)	432,668,242.46	510,269,964.10
Less: Income tax expenses	71,254,659.86	87,727,426.58
IV. Net profits (loss will be shown with “-” sign)	361,413,582.60	422,542,537.52
V. Other comprehensive income	108,100.04	-128,787.39
Other comprehensive income items which will be reclassified subsequently to profit or loss when specific conditions are met	108,100.04	-128,787.39
Available-for-sale investments	0.00	0.00

19

Exchange differences on translation of foreign operations	108,100.04	-128,787.39
VI . Total comprehensive income	361,521,682.64	422,413,750.13
VII. Earnings per share
(I) Basic	0.0867	0.1188
(II) Diluted	0.0867	0.1188
Legal Representative Wu Gang Person-in-charge of accounting affairs: Huo Changbao Head of accounting department: Lv Peng

4.1.5 Consolidated Income Statement for 1 January to 30 September 2017

Prepared by: Xinjiang Goldwind Science & Technology Co., Ltd. Unit: RMB

Items	For the Period of 1 January to 30 September 2017	For the Period of 1 January to 30 September 2016
I. Total operating income	17,006,751,441.72	16,964,752,380.35
Including: Operating income	17,006,751,441.72	16,964,752,380.35
II. Total operating costs	15,454,025,236.88	14,993,207,173.43
Including: Operating costs	11,873,892,716.88	11,777,826,659.52
Tax and surcharge	98,517,454.28	71,514,677.45
Selling and distribution expenses	1,214,866,942.43	1,097,128,054.49
Administrative expenses	1,474,646,629.50	1,345,261,162.05
Financial expenses	561,599,846.81	529,625,164.00
Impairment loss of assets	230,501,646.98	171,851,455.92
Add: Gains or losses from changes in fair values	39,711,901.44	-1,204,508.00
Investment income	845,106,176.50	386,875,302.12
Including: Gains arising from investments in associated enterprises and joint ventures	107,100,530.61	95,045,737.46
Exchange gains (minus exchange losses)	0.00	0.00
Other income	229,455,231.34	0.00
III. Operating profits (loss will be shown with “-” sign)	2,666,999,514.12	2,357,216,001.04
Add: Non-operating income	4,812,317.80	187,485,295.00
Including: Gain arising from disposal of non-current assets	1,462,873.48	952,670.07
Less: Non-operating expenses	14,934,926.12	12,503,484.54
Including: Loss arising from disposal of	3,310,690.94	2,536,178.59

20

non-current assets
IV. Total profits (loss will be shown with “-” sign)	2,656,876,905.80	2,532,197,811.50
Less: Income tax expenses	301,293,354.53	327,597,499.89
V. Net profits (loss will be shown with “-” sign)	2,355,583,551.27	2,204,600,311.61
Net profits attributable to owners of the parent company	2,296,165,383.59	2,140,717,292.73
Gains or losses from minority interests	59,418,167.68	63,883,018.88
VI. Other comprehensive income	24,461,905.76	40,556,708.78
Other comprehensive income attributable to owners of the parent company	24,461,905.76	40,556,708.78
Other comprehensive income items which will be reclassified subsequently to profit or loss when specific conditions are met	24,461,905.76	40,556,708.78
Share of other comprehensive income of associates and a joint ventures	43,807,869.10	0.00
Available-for-sale investments	-42,511,661.08	-45,093,055.00
Exchange differences on translation of foreign operations	23,165,697.74	85,649,763.78
VII. Total comprehensive income	2,380,045,457.03	2,245,157,020.39
Total comprehensive income attributable to owners of the parent company	2,320,627,289.35	2,181,274,001.51
Total comprehensive income attributable to minority shareholders	59,418,167.68	63,883,018.88
VIII. Earnings per share
(I) Basic	0.6307	0.6020
(II) Diluted	0.6307	0.6020
Legal Representative Wu Gang Person-in-charge of accounting affairs: Huo Changbao Head of accounting department: Lv Peng

4.1.6 Parent Company Income Statement for 1 January to 30 September 2017

Prepared by: Xinjiang Goldwind Science & Technology Co., Ltd. Unit: RMB

Items	For the Period of 1 January to 30 September 2017	For the Period of 1 January to 30 September 2016
I. Operating income	10,955,949,505.71	12,348,045,694.01
Less: Operating costs	9,364,646,045.77	10,195,140,752.49

21

Tax and surcharge	40,333,166.05	45,955,670.13
Selling and distribution expenses	618,547,585.62	473,400,660.10
Administrative expenses	239,430,310.58	309,168,731.18
Financial expenses	-5,695,818.11	-52,286,674.42
Impairment loss of assets	68,027,801.31	103,486,751.73
Add: Gains or losses from changes in fair values	0.00	0.00
Investment income	33,631,132.82	15,581,454.75
Including: Gains arising from investments in associated enterprises and joint ventures	212,402.90	1,242,445.65
Other income	123,313,205.93	0.00
II. Operating profits (loss will be shown with “-” sign)	787,604,753.24	1,288,761,257.55
Add: Non-operating income	2,251,740.91	85,001,977.59
Including: Gain arising from disposal of non-current assets	160,590.08	952,565.47
Less: Non-operating expenses	3,547,719.91	5,049,835.82
Including: Loss arising from disposal of non-current assets	114,814.34	486,008.23
III. Total profits (loss will be shown with “-” sign)	786,308,774.24	1,368,713,399.32
Less: Income tax expenses	148,622,858.44	217,549,366.96
IV. Net profits (loss will be shown with “-” sign)	637,685,915.80	1,151,164,032.36
V. Other comprehensive income	505,221.85	-425,486.81
Other comprehensive income items which will be reclassified subsequently to profit or loss when specific conditions are met	505,221.85	-425,486.81
Available-for-sale investments	0.00	0.00
Exchange differences on translation of foreign operations	505,221.85	-425,486.81
VI. Total comprehensive income	638,191,137.65	1,150,738,545.55
VII. Earnings per share
(I) Basic	0.1644	0.3237
(II) Diluted	0.1644	0.3237
Legal Representative Wu Gang Person-in-charge of accounting affairs: Huo Changbao Head of accounting department: Lv Peng

22

4.1.7 Consolidated Statement of Cash Flows for 1 January to 30 September 2017

Prepared by: Xinjiang Goldwind Science & Technology Co., Ltd. Unit: RMB

Items	For the Period of 1 January to 30 September 2017	For the Period of 1 January to 30 September 2016
I. Cash flows from operating activities
Cash received from sales of goods, provision of services	13,743,263,466.74	13,770,325,937.04
Tax refund received	223,479,188.91	171,493,155.99
Other cash received relating to operating activities	732,149,211.24	621,308,032.62
Subtotal of cash inflows	14,698,891,866.89	14,563,127,125.65
Cash paid for goods purchased, services rendered	11,140,315,093.50	11,158,920,629.83
Cash paid to or on behalf of employees	1,620,131,456.44	1,283,434,490.77
Taxes paid	1,317,130,464.26	1,527,358,462.17
Other cash paid relating to operating activities	1,645,764,487.86	1,660,240,069.76
Subtotal of cash outflows	15,723,341,502.06	15,629,953,652.53
Net cash flows from operating activities	-1,024,449,635.17	-1,066,826,526.88
II. Cash flows from investment activities:
Cash received from recovery of investments	907,409,308.89	228,674,996.59
Cash from investment income	89,874,187.67	222,900,322.20
Net cash from disposal of fixed assets, intangible assets and other long-term assets	2,919,324.92	32,224,219.29
Net cash from disposal of subsidiaries and other operating entities	209,885,867.52	0.00
Other cash received relating to investment activities	68,619,349.13	377,946,358.14
Subtotal of cash inflows	1,278,708,038.13	861,745,896.22
Cash paid for purchase of fixed assets, intangible assets and other long-term assets	3,818,140,583.87	3,883,397,302.07
Cash paid for investments	334,821,541.17	1,026,849,998.22
Net cash paid for acquisition of subsidiaries and other operating entities	1,538,775,178.91	113,149,523.43
Other cash paid relating to investment activities	136,345,430.74	957,809,629.35
Subtotal of cash outflows	5,828,082,734.69	5,981,206,453.07

23

Net cash flows from investment activities	-4,549,374,696.56	-5,119,460,556.85
III. Cash flows from financing activities
Cash received from investments	52,895,000.00	1,531,610,337.10
Including: Cash received from investments of minority shareholders through subsidiaries	46,895,000.00	34,275,000.00
Cash received from borrowings	4,985,717,681.00	6,719,754,199.50
Cash received from bonds	0.00	1,275,000,000.00
Other cash received relating to financing activities	273,180,552.78	31,488,550.77
Subtotal of cash inflows	5,311,793,233.78	9,557,853,087.37
Cash paid for repayment of debts	2,252,207,977.48	2,735,899,508.24
Cash payments for distribution of dividends, profits or interest expenses	1,307,430,461.18	1,812,791,800.20
Including: Dividends and profits paid to minority shareholders by subsidiaries	23,619,181.94	16,255,883.10
Other cash paid relating to financing activities	53,967,345.75	87,224,441.46
Subtotal of cash outflows	3,613,605,784.41	4,635,915,749.90
Net cash flows from financing activities	1,698,187,449.37	4,921,937,337.47
IV. Effect of exchange rate changes on cash	25,597,547.13	4,413,762.78
V. Net increase in cash and cash equivalents	-3,850,039,335.23	-1,259,935,983.48
Add: Balance of cash and cash equivalents at the beginning of the period	7,526,462,777.07	6,141,430,225.75
VI. Balance of cash and cash equivalents at the end of the period	3,676,423,441.84	4,881,494,242.27
Legal Representative Wu Gang Person-in-charge of accounting affairs: Huo Changbao Head of accounting department: Lv Peng

4.1.8 Parent Company Statement of Cash Flows for 1 January to 30 September 2017

Prepared by: Xinjiang Goldwind Science & Technology Co., Ltd. Unit: RMB

Items	For the Period of 1 January to 30 September 2017	For the Period of 1 January to 30 September 2016
I. Cash flows from operating activities
Cash received from sales of goods, provision of services	7,835,300,216.17	8,520,022,531.27
Tax refund received	80,932,440.54	14,801,391.79

24

Other cash received relating to operating activities	7,214,258,182.44	10,525,287,977.64
Subtotal of cash inflows	15,130,490,839.15	19,060,111,900.70
Cash paid for goods purchased, services rendered	8,066,399,922.60	11,290,626,040.53
Cash paid to or on behalf of employees	218,387,021.21	197,602,604.10
Taxes paid	482,205,834.72	849,184,669.36
Other cash paid relating to operating activities	9,539,565,283.68	8,001,949,895.98
Subtotal of cash outflows	18,306,558,062.21	20,339,363,209.97
Net cash flows from operating activities	-3,176,067,223.06	-1,279,251,309.27
II. Cash flows from investment activities:
Cash received from recovery of investments	750,000,000.00	0.00
Cash from investment income	1,428,945,074.81	14,339,009.10
Net cash from disposal of fixed assets, intangible assets and other long-term assets	33,632.08	47,739.20
Net cash from disposal of subsidiaries and other operating entities	0.00	0.00
Other cash received relating to investment activities	1,771,196,960.74	3,903,464,463.26
Subtotal of cash inflows	3,950,175,667.63	3,917,851,211.56
Cash paid for purchase of fixed assets, intangible assets and other long-term assets	57,083,472.17	55,256,977.79
Cash paid for investments	38,405,497.24	1,399,240,000.00
Net cash paid for acquisition of subsidiaries and other operating entities	0.00	0.00
Other cash paid relating to investment activities	2,575,238,144.87	3,390,458,410.42
Subtotal of cash outflows	2,670,727,114.28	4,844,955,388.21
Net cash flows from investment activities	1,279,448,553.35	-927,104,176.65
III. Cash flows from financing activities
Cash received from investments	0.00	1,495,500,000.00
Cash received from borrowings	939,999,900.00	1,438,000,000.00
Cash received from bonds	0.00	1,275,000,000.00
Other cash received relating to financing activities	0.00	0.00
Subtotal of cash inflows	939,999,900.00	4,208,500,000.00

25

Cash paid for repayment of debts	1,456,169,725.60	1,527,649,803.13
Cash payments for distribution of dividends, profits or interest expenses	721,988,035.43	1,360,549,123.42
Other cash paid relating to financing activities	4,502,500.00	66,500,000.00
Subtotal of cash outflows	2,182,660,261.03	2,954,698,926.55
Net cash flows from financing activities	-1,242,660,361.03	1,253,801,073.45
IV. Effect of exchange rate changes on cash	48,556.73	2,641,573.03
V. Net increase in cash and cash equivalents	-3,139,230,474.01	-949,912,839.44
Add: Balance of cash and cash equivalents at the beginning of the period	4,326,147,657.01	4,139,014,583.52
VI. Balance of cash and cash equivalents at the end of the period	1,186,917,183.00	3,189,101,744.08
Legal Representative Wu Gang Person-in-charge of accounting affairs: Huo Changbao Head of accounting department: Lv Peng

26

4.2 Auditors’ Report

4.2.1 The 2017 Third Quarterly Report is unaudited.

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

Beijing, 26 October 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, Mr. Feng Wei and Mr. Gao Jianjun; and independent non-executive directors are Mr. Yang Xiaosheng, Mr. Luo Zhenbang and Dr. Tin Yau Kelvin Wong.

• For identification purpose only

27