Potential Asset Impairment Losses to Drag China Longyuan's Near-Term Earnings

Founded in 1993, Longyuan is a pioneer in China’s wind power development. This first-mover advantage, coupled with a capable management team, enabled the firm to secure better wind farm locations, which helps to maximize wind farm utilization rates. Longyuan’s annual wind power utilization hours have consistently outperformed the industry average in China by more than 50 hours during the past decade. Longyuan is the world’s largest wind power producer with consolidated installed wind capacity of about 27.8 gigawatts, or GW, as of end-2023.