In today’s briefing:
- Xinjiang Goldwind (2208 HK): Getting to a More Attractive Point Again
Xinjiang Goldwind (2208 HK): Getting to a More Attractive Point Again
- Xinjiang Goldwind Science & Technology H (2208 HK) had a tough 2Q22; but with the recent retreat in share price, the stock appears attractive now at 8.5x FY23F PER.
- Goldwind has many growth initiatives backing its outlook. These include solid order backlog, upside on gross margin, contribution from wind farms and growth from the servicing business.
- Its WTG backlog of 24.1GW is 1.3x higher QoQ and well covers revenue for next two years. Further strategic disposals of wind farm will help realising underlying asset values.
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