You attend the Xinjiang Goldwind Science & Technology 2021 interim results announcement. All the participants are muted. Right after the presentation, we're going to have the Q&A. Let's welcome the moderator, please.
Distinguished investors, good afternoon. I would like to welcome you to attend the Xinjiang Goldwind Science & Technology 2021 interim results announcement. Today we are very happy to welcome our management team to join you guys for the discussion. Let me introduce them one by one. They are President, Mr. Cao Zhigang, the VP and Board Secretary, Ms. Ma Jinru, and also VP, Xu Zeliqi, and our CFO, Mr. [Lee Kong] . First of all, we are going to have Ms. Ma Jinru to walk you through the 2021 interim results, the financials, operations, and the industrial development. Then we have Mr. [Liu Chun] to introduce the financials.
We get into the Q&A session. I would like to remind all the audience, please pay attention how to press the button to raise a question so that it can queue for the Q&A. Let's welcome Ms. Ma, please.
Okay. Distinguished investors, good afternoon. It's my turn to introduce you the 2021 interim results. We go to the slide three, over the past 10 years, we see the milestone events. The average annual rate of the global wind power accumulated installation was 15.3%. By the end of 2020, global installation wind power reached 733.3 GW. China represents 38.5%, U.S. 16.1%, and Germany 8.5%, followed by France and U.K. One of the driving forces for the global wind power to flourish is the cost reduction. Please take a look at the right side.
According to IRENA statistics, in the past 10 years, the LCOE was down by 56% from $ 0.089 per kilowatt hour in 2020 to $ 0.039 kilowatt in 2020. The LCOE of the offshore wind power declined by 48%, from $ 0.162 kilowatt hour in 2010 to $ 0.08 per kilowatt hour in 2020. On the left side, you can see in the first half of 2021, China reached 10.84 GW new grid connection, increased by 71.5% year-over-year. By the end of June, cumulative grid connections of the wind power totaled 291.9 GW, up by 34.7% year-over-year. Wind power took 12.9% in China's power mix. From the product in H1, China total power consumption was 3,933.9 billion kWh and increased by 60.2% YOY.
244.2 billion kWh wind power production represent an increase of 44.6%, the penetration ratio is 8.7%. In H1 of this year, the wind average utilization rate is 1,212 hours, increased by 89 hours. On slide five, it shows you the Chinese public tender market. In H1 of this year, domestic public tender market totaled 31.5 GW, up by 168% year-over-year, all were onshore public tenders. 69 of the public tender from in northern part of China, up by 90 PPAs. Which tells that the public tender is coming back to the south of the China. On the right side, the average bidding price for full actual turbine was RMB 2,660 kilowatt in June. The full actual turbine was RMB 2,473 per kilowatt. On the next slide, we show you the policy review.
Some of them are the National Development and Reform Commission notice on the financial solutions to issue the subsidy to back the debt, and also the penetration ratio increased number, and also the grid connection price, and also the subsidies and the market reform policies and regulations. In one way, it will help to promote the healthy development and to promote the green consumption of the electricity. On the right side, it shows the non-hydro renewable power consumption diversity quota by the National Energy Administration. Among the 30 provinces in 2020, 4 provinces penetration ratio of the non-hydro renewable power exceed more than 20%, of which 15 provinces reached 10%-20%, NINE provinces reached 5%-10%, and two provinces under 5%. In 2022, and we can see that 31.4 is the maximum increase where the minimum target in 2021 is exceeding up to a certain value.
There are five provinces where the minimum target value in 2022 increased by more than 20% of the 2021, which shows the determination and confidence of improving the penetration ratio. Let me just review the business of the company. Please go to slide eight. It shows our segmental results. According to accounting rules in H1 of this year, for the WTG manufacturing sales, the revenue is RMB 1,872 billion. We can see for the wind power service is RMB 1,645 billion. On the right side, the wind power investment and development was also taking up. For the other business, you can see with the power service, the profitability also become a positive number, where other business represents 2.1%. On slide nine, it shows you the sales capacity of the wind power. From January to July, the total WTGS is 2,966 million MW .
Especially 2S represents 170 MW. 3S and 4S projects totaled 1,152 MW, up by 260.8%, taking 38.8% of the total cell capacity, up by 32 PPAs. 6S and 8S cells and book the cell as 795 MW, up by 279.4%, accounting 26.8% of the total cell capacity, up by 22.8 PPAs. On slide 10, we show you the order backlog. By the end of June, company's order backlog totaled 60.4 GW. Around 50 GW are the external orders, including 2.1 GW of successful bids and 30 GW of signed contracts. Addition overseas backlog takes 12% of the total order mix. Offshore turbines took 6% of the external order mix. You can see that 3S and 4S sales turbines record 8.6 GW from 33%-58% of the total external order. 2S sales turbines took 36% of the total external order.
6S and 8S sales took 8% of the total external order. On the next slide, we show you foreign business expansion. By the end of June, company's overseas external order backlog is 1,871 MW, mainly scattered in Vietnam, Chile, Kazakhstan, Pakistan, and the Philippines, with an increase of 80% year-over-year. Overseas under consumption and the pipeline capacity total 893 MW scattering in Australia. Let me also share with you the power generation business. By the end of first H1, company's attributable grid-connected wind power projects totaled 5,600 MW, with 31% are in Northeast China, 30% are in East and the South China. Company added 404 MW of attributable grid-connected wind power capacity at home and abroad in H1, of which 199 MW in domestic China and disposed of 273 MW.
By the end of H1 this year, our attributable under-construction wind power capacity at home and abroad totaled 2,031 MW, of which 29 are in North China and the southern region, 29 are in North China, 11 are in northeastern China, 8 in northeast, and 23 are overseas market. On the right side, you can see that generally speaking, the grid connected by region also being improved greatly. In H1 of this year, company's self-run wind farms recorded 1,932 hour utilization, increased by 8.7% year-over-year, 180 hour higher than the national average. By the end of July 30th, the company's total operating capacity in China and abroad totaled 17.2 GW, up by 69.4%. In the near future, the company will further extend the wind power service. Coming up, let's welcome Mr. [Liu] to walk us through financials, please.
Good afternoon, investors.
Please allow me to introduce you the financial performance of the company. On the slide, we show you some key indicators. Revenue compared the same period last year was down by 7.8%, and GP margin was up by 80.2%. Net profit was up by 45% year-over-year. Because you can see that our onshore business was improving, and you can see that the net attributable profit was also improving. You can see that because our onshore wind power installation was improved by more than 300%, it also contributed to the GP margin. Also, it also provided more profitability from the generation. Our GP margin was up by 48%. Even if within the reporting period, our revenue was down by 30% year-over-year. Also we have the credit impairment and asset impairment, which overall improved compared with the last year.
The net profit was up by 45% compared with the same period of last year. Net profit was up by 3% compared with last year. Coming next, let's talk about the corporate financial results. Within this reporting period, and compared with the same reporting period last year, and it already did organic growth. I'm not going to elaborate on that at all. Go to the next page, we show you the operating cash flow and the working capital. Let's take a look at operating cash flow. In our interim results, we see that And the net operating cash flow of the first year was RMB 4.08 billion, and because of the rush to build and the company's operating cash flow was being further improved, and we also see some great improvement.
For example, our turnover and the payables and the receivable turnovers are all being shortened compared with the same period last year. Go to the next page, showing you the financial indicators. There are some very important financial indexes. The trends with the current ratio, the quick ratio, and asset liability ratio are all stabilized compared with the same period last year. Let's take a look at the capital structures and leverage. Within the reporting period, you can see prolonged stabilities are not bad. Net gearing ratio is 63%, up by 20%, which shows a robust financial performance. Now let's take a look at the outlook of the wind power industry. Please go to page 27. As of 23rd April 2021, 44 countries in the European Union have pledged to meet net zero emission targets. In total, they account for around 70% of the global carbon dioxide emissions and GDP.
10 countries already meet their net zero targets, a legal obligation. Eight countries are proposing to make it a legal obligation, the reminders are making their pledge in official public policy documents. According to the UNESCO Climate Change Passport, they already proposed that 1.5 degree pathway. IRENA launched the global carbon reduction way, which means that for all countries, we'd like to integrate the renewable energy through direct supply, electrification, energy efficiency, green hydrogen, and bioenergy combined for carbon capture and storage. We can say that by having those new strategies, we will be able to make sure that IRENA analysis means that by 2050, because of the 1.5 degree pathway, by the year 2050, electricity will be an energy carrier, increasing from 21% of the share in the total final energy consumption in 2018 to over 50% in 2050.
IEA predicts that by 2050, the share of the renewables in total global penetration generation from 29 in 2020 to over 60 in 2030 and nearly 90 in 2050. Solar PV and wind have become a leading source of electricity worldwide, it's going to lead to at least 390 GW annual installations between 2021-2030. We also, Goldwind, are proactive to take care of the new products and technologies. In 2020, we already proposed and completed the first wind power development project with that revelation. Also, we're working with our international peers. The data shows that by using our product, GW 1.5, 4.5 MW turbine, the result demonstrates a carbon emission of 7.25 g/ kWh electricity generated.
We also finished the first carbon neutral demonstration park in China for Yizhuang Smart Park in 2020 and completed the China carbon utilization demonstration park in Zhaotong Park in Yunnan Province, providing a typical model for the future market of the carbon neutral economy. Because of our good performance in ESG, the company is also being constituted as the ISS ESG Index, the SynTao Green Finance, and the China Alliance of Social Value Investment, and also be included in the MSCI ESG Leaders Index, the Hang Seng Corporate Sustainability Index, and FTSE4Good Index Series, as well as other ESG ratings. That's all for our H1 interim result announcement.