BUSINESS PERFORMANCE

MARKET

ACTIVITIES

P.1- 6

WIND INDUSTRY

RESEARCH

P.7-8

At the end of Q3 2016

Total Revenue:$ 2.5 billions

Net Profit: $319.5 millions

Total Assets:$9.17 billions

GOLDWIND

QUARTERLY

At the end of Q3 2016, Goldwind accumulated installed capacity

exceeded 36GW worldwide, comprised of over 35 GW and

24096 units in China and over 997.25MW and 527 units

overseas.

BUSINESS

PERFORMANCE

P.0

JUN. - OCT.

2016

MARKET&BUSINESS

DEVELOPMENT

DEPARTMENT

Business Performance ｜ 0

Goldwind wins over Project

Balikesir & Bandirma in Turkey

Turkey(July 26, 2016)－Goldwind made an important milestone of signing a

contract to provide wind turbines for both the Balikesir & Bandirma wind projects.

Both Balikesir & Bandirma projects will be located in Western Turkey, a land

known for its strong winds and already become the most centralized location for

wind farms.

The total planned capacity is 10.5MW, provided by 7 GW82-1.5MW wind turbines

and a 10-year O&M agreement. At the meantime, in order to fulfill the localized

incentive policy, Goldwind has already made an announcement that the

procurement process of tower will be made in the local region.

Market Activities ｜ Turkey ｜ 1

MARKET

ACTIVITIES

Beijing (Aug 11, 2016) - Goldwind and

Shanghai Investigation Design &

Research Institute co., Ltd held a signing

ceremony regarding the project “Three

Gorges Wind Eagle II”.

This project is the second project of China

Three Gorges Corporation (CTG) in

Pakistan. The wind farm will consist of 66

GW-1.5MW operated by CTG. The

project is estimated to cost USD$230

million, It is expected to generate around

300,000 megawatt hours (MWh) of

electricity annually and commercially

operational in 2017. To date, Goldwind

has received orders for more than 400MW

of wind turbines in Pakistan.

Goldwind wins 99MW deal in Pakistan

Market Activities ｜ Pakistan ｜ 2

Teheran (July 16, 2016)－Goldwind organized a successful marketing campaign

in the capital city of Iran. More than 90 specialists representing the Renewable

Energy Organization of Iran (SUNA), Iranian Wind Energy Association (IWEA),

local developers, grid companies and science institutions attended the campaign.

Goldwind and its business partner China Export & Credit Insurance Corporation

International (NORINCO) gave a comprehensive introduction regarding the

cutting-edge PMDD technology, specific features for wind turbines in Iran, lifetime

service of wind farms, the policy of China Export &Credit Insurance Corporation and

the EPC capability of NORINCO International.

Iran’s wind power industry is getting plenty of opportunities after decades of silence.

Iran Energy Agency set the FIT at USD$0.10-0.15/kWh depending on the capacity of

each. The PPA agreement is signed between SUNA and the power generation

companies. Meanwhile, NDF has provided a fair amount of low cost financing

approaches for solving the financial problems in some projects.

Goldwind holds successful

marketing campaign in Iran

Market Activities ｜ Iran ｜ 3

Innovating for

A brighter tomorrow

Nairobi, Kenya(Sep 14, 2016) －

Goldwind held a marketing campaign,

partnering with local developers and

grid companies, with over 40

representatives in attendance.

Goldwind made a comprehensive

introduction about the company’s

overview; the cutting-edge PMDD

technology and specific feature for

wind turbines customized for Africa

market, and financing solutions for

future projects.

Kenya, one of the most important wind

markets in Africa for Goldwind, is

facing the identical issue like other

Africa countries - electricity shortage.

In 2009, Goldwind has started to

develop the wind market in Africa and

made some achievements in Ethiopia

and South Africa. This event put

Goldwind, developers and related

industries together to create a better

environment for the future.

Market Activities｜ Kenya ｜ 4

The Deputy Prime Minister and Member for New England,

Barnaby Joyce has welcomed the Federal Government’s

funding announcement of $6 million from the Australian

Renewable Energy Agency (ARENA), for Goldwind

Australia’s White Rock Solar Farm proposal, near Glen

Innes.

The development is a pioneering hybrid solar/wind

renewable energy facility for the New England Tablelands.

It is expected to generate around 46,000 megawatt hours

(MWh) of electricity in the first year of operation, enough to

supply the equivalent of approximately 7,200 average NSW

homes. The project is an investment of $45M with $6M

expected to come from this grant.

White Rock Solar Farm is one of twelve projects to be

awarded a grant from the Australian Renewable Energy

Agency (ARENA) large-scale solar competitive funding

round.

In response to the ARENA large scale solar program, the

project was accelerated and the development consent was

secured in mid-June 2016. With the award of the ARENA

grant, the project can now look towards commencing

construction in early 2017 and being fully operational by the

end of 2017.

Fast facts

Australia is set to

triple its large scale

solar energy capacity

ARENA stated that 12

projects will share $92

million

White Rock Solar

Farm, 20 Megawatt,

ARENA funding $6

million, total Project

cost $44.5m.

Goldwind will also

construct the 175MW

White Rock Wind

Farm utilising 70 of its

advanced technology

2.5MW wind turbines.

$6m Federal funding for Goldwind’s

White Rock Solar Farm at Glen Innes

Market Activities ｜ Australia ｜ 5

“This demonstration

project is an important

step for the colocation of

Wind and Solar, which

has never been done

before in Australia at this

scale. John Gardner,

VP Program at Goldwind Australia

Goldwind Australia and New Gullen Range Wind Farm would like

to jointly announce that Gullen Solar Farm achieved the Australian

Renewable Energy Agency (ARENA) Financial Close Milestone

on the 15nd July 2016.

Gullen Solar Farm will be a 10 MW AC solar photovoltaic (PV)

power plant co-located on the Gullen Range Wind Farm. The

development is a pioneering hybrid solar/wind renewable energy

facility for Australia. Gullen Solar Farm is designed to benefit from

sharing part of the wind farm infrastructure, including the

substation, grid connection and access tracks. The opportunity to

share wind farm infrastructure maximises the use of available

facilities without requiring construction of additional facilities

elsewhere. Co-location of the project is assessed to unlock $6

million of savings.

The project is expected to generate around 22,000 megawatt hours

(MWh) of electricity in the first year of operation, enough to supply

the equivalent of approximately 3,100 average NSW homes. The

solar farm is initially planned to sell its power without a Power

Purchase Agreement.

Market Activities ｜ Australia ｜ 6

According to Bloomberg turbine price Index, global turbine

prices fell 26%, from EUR 1.21m/MW in H1 2009 to EUR

0.89m/MW in H1 2016 in the last seven years. In the same

time, levelised turbine production cost dropped 51% from

EUR 550/MWh/yr in H1 2009 to EUR 266/MWh/yr in H1

2016. Their index indicates that while turbine prices per MW

are expected to rise slightly, the costs per MWh continue to

fall due to several projects with high capacity factors

scheduled for delivery.

After changes to the subsidy support mechanism in the US,

North American market will face an under-supply from 2016

to 2018 before recovering towards the latter half of the

decade. Europe turbine prices will fall after facing an

oversupply. Latin America will remain under-supplied until

2020, unless new manufacturing facilities open locally.

Turbine

Price

Figure 1 Wind Turbine Price Index mean price by delivery

date, H1 2008- H2 2017 (EURm/MW)

Wind Industry Research ｜ 7

WIND INDUSTRY

RESEARCH

O&M

Price Index

Figure 2 Average price for full-service renewal contracts by

signing date, 2008-15(EUR k/MW)/year)

According to Bloomberg’s O&M Price Index, analyzing pricing

and trends for 17.5GW of actual, undisclosed O&M contracts.

Pricing for initial full-service agreements declined by 17%, from

EUR 26.1k/MW/year in 2014 to EUR 21.6k/MW/year in 2015.

They believe that the decline in average prices was due to an

increase in the percentage of Latin American service agreements

that contributed to the latest Index. owner, with larger owners

able to command lower pricing on initial full-service contracts.

Tier 1 independent power producers are able to access the lowest

pricing at EUR 20.9k/MW/year, while utilities and Tier 3 IPPs

see the higher full-service pricing, at EUR 23.1k/MW/year and

EUR 28.5k/MW/year, respectively.

Shorter initial O&M contracts were increasingly popular

amongst index participants. Asset owners are shortening terms in

anticipation of a move to in-house O&M Average pricing varies

by asset.

Wind Industry Research ｜ 8

GOLDWIND

QUARTERLY

DISCLAIMER

Tular to be issued by the Company in connection with such offering; and no representation is made by the Compahis document does not constitute, or form part of any offer for subscription or sale of, or solicitation of any offer to subscribe for or sale of any securities of Xinjiang Goldwind Science & Technology Co., Ltd. (the Company), nor shall it be construed as calculated to invite any such offer, nor shall it form the basis of, nor can it be relied on in connection with, or act as an inducement to enter into any contract or commitment whatsoever. Accordingly, any decision in connection with the subscription or acquisition of securities of the Company pursuant to or in connection with any offering must be made solely on the basis of the information to be contained in the prospectus or other offering circny in respect of any information in this document, except as contained in such prospectus or offering circular.

Goldwind offers customers the ability to

access proprietary PMDD technology

that provides greater efficiency and

reliability than competing wind-turbine

generator designs.

We have built an integrated business

whose activity spans every part of the

product life cycle. Our products are

comprehensively supported by a network

of international facilities that provide

outstanding service around the globe.

Every aspect of the solutions we build

around our wind-turbine generators is

tailored to maximise value not just for

our clients, but for the customers and

communities that rely on the power they

supply.

For more information, please contact a

Goldwind representative.