Ladies and gentlemen, I'd like to welcome you to join us for Goldwind 2023 results release for the interim period. Now let's welcome the moderator to chair the session. Ladies and gentlemen, I'd like to welcome you to join us for the Goldwind 2023 interim results re-release. We have the management team joining us here, including Board of Director Cao Zhigang, and VP, Group Secretary, and Company Secretary Mr. Ma Jinru, and also Mr. Xue Naichuan, Group VP and GM of the Wind Power Industrial Company, and Group VP and Deputy GM of the Wind Power Industrial Company, Mr. Chen Qiuhua. Ladies and gentlemen, first of all, we're going to have Ma Jinru to walk you through the financials and also the business review.
Later, we're also going to have Wang Hongyan walking us through the financial results, and then we're going to get into the Q&A session. Ma Jinru, please. Ladies and gentlemen, good afternoon. Actually, we have another management team members who join us for this call, who is Gao Jinshan, our VP, and we are all here as a whole management team to present to you our 2023 interim results, especially for 2023 H1. I think you have the deck in your hands. Let me just report to you on three points, including industrial review, business review. I will cover both parts, and then later, we're going to have Wang Hongyan walking you through financial results. Please go to slide three.
If we take a look at, at slide three, and, according to Bloomberg, and you know that, the Global Wind Energy Council started to update the data, so that's the reason I'd like to show you the data from GWEC. The global new installation in 2022 was 77.6 GW. Onshore accounted for 68.8 GW, offshore totaling 8.8 GW. By region, APAC accounted for 56% of the total installation, Europe represent 25%, North America attribute 12%, and China represent 49% of the total new installation, U.S., 11%. On the right side, you can see global wind power generation. In 2022, the total global power generation reached 29.165 TWh, of which renewable energy generated 4,204 TWh, accounted for 40.4%.
At the world highest generating renewable energy and wind power generation increased 30.5% YoY, reaching 2,105 TWh in 2022, accounted for 50.1% of the global renewable energy generation and 7.2% of the global total electricity generation. You can also say that China has accounted for 36% of the global wind power generation. U.S., Germany, who are ranking second and third. Well, let's also say in H1 of 2023, China recorded 23.0 GW of the new grid connection, grow by 77.7%, which is a high number, of which 21.9 GW are for onshore and 1.1 GW for offshore.
By the end of June of 2023, accumulated grid-connected wind power capacity totaled 389.2 GW, taking 44.4% of the 40.4% of the China power mix, the thermal power declined to 50.1%. On the right side, the total power consumption in H1 of this year was 4,307.6 billion kWh, with 5% YoY increase. The wind power production increased by 20%, and also, the penetration ratio reached 10.7%. Utilization rate of the wind power reached 96.7%. The average utilization hour is 1,237 hours in H1 of this year, increased by 83 hours YoY. Let's also take a look at the public tender market.
The domestic public tender market totaled 47.3 GW, representing 7.5% YoY decrease. Onshore public tender totaled 41.5 GW, offshore, 5.8 GW. By region, 69% are in northern part of China, 31% in southern part of China. The majority of the tenders are actually in northern parts of China for the big industrial base project. On the right side, we're showing you average bidding price. In June of this year, the average bidding price is already RMB 1,681 per kilowatt. Let's also take a look at the next slide regarding policy support. We further promoted the transformation of the energy structure and promoted the green and low carbon development energy. China also released further policies to provide a good policy support to the renewable energy development in China.
First of all, Chinese government further promote the transformation of the urban structure and also the promotion of the green and low carbon development strategy. We also started to say that, starting the China's green development in the new era, NEA also started to propose that we're going to construct the new power system and deepen the reform of the electricity market. We also started to see that, the non-fossil energy power generation increased to 51.9%. Wind power and photovoltaic power generation accounted for 50.3% of the total social electricity consumption. The government also promoted the first batch of the large-scale wind power and PV-based projects focusing on desert. We also started to promote the distributed PV projects.
For the whole year, actually, the wind power and the photovoltaic power installation capacity were increased by 160 million kilowatts throughout the year. At the same time, the government also accelerates the construction of the new power system and to deepen the reform of the electricity market. The NDRC, MIIT, and NEA jointly released the notice on matters related to the participation of the green power projects, enjoying central government subsidies in Green Power Trading, proposing expanding the scale of the green power participation, where at the same time, we also issued the Blue Carbon Print, continue to show the three steps to go system. Actually, further talking about how we can accelerate the construction of the new power system.
Another point the government's been taking is promoting the development of the distributed wind power and encourage the renovation or upgrading of the old wind farms. Especially, it mentions that upgrading the wind farms and to continue to upgrade its facility if its unique capacity is less than 1.5 MW. All that going to lead to the efficiency improvement for the wind farms and the wind farm industry. Based on that, please allow me to walk you through our business. We have a four business lines, as being shown on this slide, including four segments, WTG manufacturing and sales , wind farm development, wind power service, and other business. Please go to slide nine. Slide nine shows you one of the biggest business we are doing.
You can see in H1 of 2023, our external sales capacity was 5,784 MW, up by 41.6%. You can see the sales capacity of WTG below 4 MW totaled at 29 MW, taking 0.5% of the total sales capacity. The WTG, 4 MW include to 6 MW totaled at 4,222 MW, taking 73% of the total sales capacity. The WTG above 6 MW has already taken 26.5% of the total sales capacity. You see, on slide 10, show you the order backlog.
By the end of June, the total order backlog was 30.0 GW, external order 28.2 GW, including 6.6 GW of successful bid and 21.6 GW of the signed contract. On the right side, we show you the external order mix . 57% of the order are actually for the WTG between 4 MW to 6 MW. We are also extending our global footprint. You can see that our installations in North America, Australia, Asia, and South America has already exceed 1 GW. By the end of June, the order backlog in overseas market has already totaled more than 4,601 MW, operating capacity totaled 554 MW.
As of the end of June, June, the company's attributable grid-connected wind power projects totaled 6,922 MW, of which 28 are in northeast part region, 25 in Eastern China, 25 in Northern China, 10 in southern region, 4% in northeast region, 8% in overseas market. The company added 585 MW to attributable grid-connected wind power. As you can see, at the end of the June, company's attributable under construction wind capacity at home totaled at 3,203 MW. 48% are in northeast part of China, 23 in Eastern China, 21% in Northern China, and 8% in southern part of the region. On the right side, we actually show you the data.
If we are taking a look at the utilization hours in H1 of this year, actually our utilization is 1,244 hours, and 107 hours higher than the national average. We also maintain very high quality growth. You can see by the end of June, for our installed fleet, actually the under-operated capacity totaled 29.6 GW, up by 6.5%. Coming next, I'm going to welcome Wang Hongyan to walk you through the financials. Dear investors, ladies and gentlemen, good afternoon. Please allow me to walk you through the 2023 interim results. I'm going to walk you through four financial indicators. First of all, let's talk about the overall financials, and then the financial indicators. Then I will talk about solvency along with cash flows.
You can see this is actually the first part of our financial performance, increasing profitability index. On the left side, that is our revenue. You can see revenue in H1 of 2023 was RMB 90,000 billion and up a lot. A big reason is because we have very good sales for WTG and around RMB 432 million increase for other business. You can see WTG revenue increase is because we continue to improve the capacity. It was being grown by 41%, but as for the price perspective, WTG price still being truly distressed. You can also see in Q2 for a single quarter performance, no matter from a YoY or LLM perspective, we do see upward movement.
The reason is because, for the wind turbines, actually the semi-direct drive product started to go up. On the right side, we show you the profit margin as a group. You can see in H1 of 2023, the profit margin was 17.27%, down by 7.87%. That's the reason our total profit margin has been down by RMB 900 million. I think the key reason is because the WTG price actually reduced much higher than the cost reduction. For the low, especially the price of the WTG continued to go down. Talking about the Q2 performance, the price was going down. The reason still because the WTG price go down and the delivery period also been somewhat impacted. This is actually showing you the revenue and the profit margin of the group.
Coming next, I'm going to show you the net profit attributable to the owners of the company. In H1 of 2023, this number stood at RMB 1,251 million and down by RMB 696 million. The reason is because the WTG business, because the market price went down a lot, the cost reduction is not as what we expected. That's the reason the GP margin was down by RMB 900 million, where at the same time, we actually started to see narrow down the losses, which can help us to further improve our financial performance. On the right side, that is our weighted average return on equity. It was 3.38%. The first point is because of the return changes and also net asset changes.
You can also see that in H1 of this year, we have less dividend and, the assets being somewhat impacted. This is actually showing you the results. Let's also take a look at the next slide regarding the segment results. You can see WTG manufacturing and the sales, the GP margin, and, was 3.51%. That used to be 12.43% in last year. It was down by more than 9%. Where for other three business, they are actually in line with our expectation. For example, like wind farm development, and we have more utilization hours, and which will actually help to meet the criteria for revenue and profit growth. On the left down corner, we show you the wind power service. Just now, Ma Jinru shows you that actually, we continue to further improve our capacity.
That's the reason our wind power service is further extended. The GP margin has been down due to a special reason. You see that, the global EPC projects, we do have some disputes with the project owner, and that's the reason we made the provisions over those projects. If we just deduct this special reason, actually, wind power service, the GP margin was actually 23.98%, in line with our expectation. On the right side, I show you the other business. Other business, including environmental protection business, revenue, and is in line with our expectation. The growth margin was being reduced, and we are in the hydropower plant validation stage. Some facilities already being certified by the local authority.
We're still waiting for the government to show us the further notice, the gross profit margin would be further improved for the other business. Well, let me also show you the solvency position. On the left side, I show you Current and Quick Ratio. You can see by the end of June of 2023, our Current Ratio was 1.11. It's been elevated. Quick Ratio was 0.72, stabilized in line with our expectation. You can also see that by the end of June, actually, our assets actually close to six billion. From 2019 to now, we used to have a negative number, starting from 2022 H2R, actually, the net, the assets started to be seeing some positive movement. In other words, our short-term debt solvency capacity has been further improved.
On the right side, it show you Asset-Liability Ratio, 69.96%, which is very stabilized. In other words, we are safe. The final part show you cash flows. On the left side, you can see this is our cash flow status. For Goldwind, we are continue to actually take care of our liquidities and continue to leverage our total cash to total assets. Then you can see actually, cash to total assets would be stabilized. By the end of June of this year, the ratio of the cash to total assets was 7.91%, in line with our expectation. On the right side, we show you the Net Operating Cash Flow from January to June of this year.
The total operating cash flow was RMB 8,071 million, and we need to make further improvement on this number. We have already formulated multiple measures, making sure that for the full year, actually, our net operating cash flow should be no less than the profit attributable to the owner of the company. Thank you. Thank you very much. Thank you.