Windey Energy Technology Group Co Ltd

Windey Energy Technology Group Co Ltd maintains a capital structure characterized by high leverage and tight liquidity. Total liabilities stand at CNY 45.3 billion against total equity of CNY 8.2 billion, resulting in a debt-to-equity ratio of 0.7. The current ratio is 0.89, indicating that current liabilities exceed current assets, which aligns with the medium liquidity risk assessment. Long-term debt is recorded at CNY 5.7 billion. The company generates positive operating cash flow of CNY 558.6 million, but this is insufficient to cover capital expenditures of CNY 3.1 billion, leading to a negative free cash flow of CNY -2.6 billion. This heavy investment phase is reflected in the negative net cash position after subtracting total debt.

Profitability metrics indicate low returns on capital employed. Return on equity is 4.15%, and return on assets is 0.64%. The company reports a net income of CNY 340 million on revenue of CNY 29.4 billion, implying a net margin of approximately 1.16%. Gross profit is CNY 2.15 billion, suggesting a gross margin of roughly 7.3%. Operating income is CNY 326 million, indicating thin operating leverage. Without cohort median data for direct comparison, these returns appear modest for an industrial manufacturer, particularly given the high asset base of CNY 53.5 billion.