The proposed firm, temporarily named Jiangsu Chenfeng New Material Technology Co. Ltd., will carry 50 million yuan of registered capital, 35 percent of which invested by Goldwind. The largest stakeholder will be Tokyo-based Tatsuhi Co. Ltd. with 43 percent of the ownership. Other stakeholders will include Shanghai Tatsuhi Building Materials Co. Ltd., China railway Eryuan Engineering group Co. Ltd., and Quanyong Group. Co. Ltd. (transliterated).

Publicly listed Goldwind said in an Oct-27 announcement that the first phase, with 50 million yuan of investment, will feature annual production capacity of 8,000 metric tons of epoxide resin for wind turbine uses. “Goldwind will participate in the material development, pushing for replacement of imported materials. The new joint venture will be strategic to Goldwind in terms of securing high-quality, low-cost material supplies.�

According to an Oct-14 forecast, the company expects its net profit in the first nine months of 2009 to increase 290-340 percent over the same period of 2008, which recorded 229 million yuan in net profit.