Operator

Dear investors, good afternoon. Welcome to join us this call the 2026 first quarter results for Goldwind Science&Technology Company.

Joining us, we have [ Mr. Cao Zhigang ], Board Director and President; Ma Jinru, Board Secretary and Company Secretary; CFO, Wang Hongyan; and also Group VP and GM of Wind Power Industry, Chen Qiuhua.

We're going to have Ma Jinru to talk about the first quarter industry update and review. After that Wang Hongyan will go through the Q1 business review. And finally, we're going to take your questions.

Now over to you, Ms. Ma.

Jinru Ma
VP & Company Secretary

Thank you. Dear investors, good afternoon. Thank you so much for joining this call for the Q1 earnings results. So first of all, about the industry review and business review. In terms of the industry review, this is the global annual installation in 2025 and the distribution across different countries. Not much update there, so I will skip there.

So back to China. In the first quarter, the on-grid was -- capacity was 15.8 gigawatts, up by 7.9%. As of end of March, total wind power on-grid capacity was 655 gigawatts, which is about 16.5% of total energy installed capacity, while thermal power dropped to 39.2%. And also in last year, the total power consumption was actually 103,000 -- sorry, so 10 trillion kilowatt hours, up by 5%. And also, we have seen pretty much flat in terms of the tender. We are down by 2.2% in the first 3 quarters -- first 3 months this year, 28 gigawatts. And you can see on the right, the open tender average price pretty much stabilized.