| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 13.68 | -48 |
| Intrinsic value (DCF) | 78.07 | 199 |
| Graham-Dodd Method | 5.06 | -81 |
| Graham Formula | 8.89 | -66 |
Xinjiang Goldwind Science & Technology Co., Ltd. stands as a global leader in renewable energy solutions, specializing in comprehensive wind power systems and services. Founded in 1998 and headquartered in Urumqi, China, Goldwind operates through four core segments: wind turbine generator (WTG) manufacturing, wind power services, wind farm development, and other ventures including solar power and water treatment. As one of China's premier wind turbine manufacturers, Goldwind engages in the full lifecycle of wind energy—from R&D and manufacturing of turbines to construction services, post-warranty maintenance, and asset management of operational wind farms. The company also develops, owns, and operates wind farms, selling both the electricity generated and the developed projects themselves. With a growing international footprint, Goldwind plays a critical role in the global transition to clean energy, leveraging China's dominant position in renewable technology manufacturing. The company's integrated business model positions it uniquely within the industrials sector's machinery sub-industry, capturing value across the entire wind power value chain while contributing significantly to carbon reduction goals worldwide.
Goldwind presents a mixed investment profile with notable strengths in market positioning offset by financial constraints. The company benefits from its leadership in the world's largest wind market, China, and its integrated model provides diversified revenue streams. However, with a market cap of approximately CN¥52.3 billion, diluted EPS of CN¥0.44, and net income of CN¥1.86 billion on revenues of CN¥56.7 billion, profitability appears modest relative to scale. Concerningly, operating cash flow of CN¥2.32 billion is substantially outweighed by capital expenditures of CN¥-7.67 billion, indicating significant ongoing investment requirements. The company carries substantial debt of CN¥35.3 billion against cash of CN¥11.6 billion, creating financial leverage risks. A beta of 0.557 suggests lower volatility than the broader market, which may appeal to risk-averse investors in the renewable energy space. The dividend yield, while present, is modest at CN¥0.14 per share. Investment attractiveness hinges on China's renewable energy policy support and Goldwind's ability to improve cash flow generation while managing its debt load.
Goldwind competes in the highly competitive global wind turbine manufacturing industry, where it maintains a strong position particularly within China, the world's largest wind market. The company's competitive advantage stems from its vertical integration across the wind power value chain—from manufacturing to project development and services. This integrated model allows Goldwind to capture margins at multiple stages and creates sticky customer relationships through long-term service contracts. As a Chinese manufacturer, Goldwind benefits from domestic supply chain advantages and government support for renewable energy, providing cost competitiveness in turbine production. However, the company faces intense competition from both domestic and international players, leading to pricing pressure and compressed margins in the manufacturing segment. Goldwind's technological capabilities, particularly in permanent magnet direct-drive turbines, differentiate its product offerings and support efficiency claims. The company's international expansion provides geographic diversification but exposes it to trade barriers and competition in established Western markets. Goldwind's wind farm development segment provides stable recurring revenue but requires significant capital investment, contributing to the company's substantial debt load. The competitive landscape is evolving rapidly with technological advancements and increasing scale requirements, forcing continuous R&D investment. Goldwind's position as a Chinese champion in renewable technology provides policy support advantages domestically but may create challenges in markets with geopolitical tensions affecting Chinese equipment.