The decision comes at a difficult time for Hong Kong's Hang Seng Index, which has been badly affected by the economic downturn and the debt crisis in Europe. It has fallen 10% since April 9.
Goldwind had planned to release the equivalent of a 15% stake in the company. The majority of these funds were earmarked to be spent on new manufacturing plants and overseas expansion.
In March, Goldwind confirmed it planned a listing on the Hong Kong stock exchange after a shareholders meeting in September 2009. It is worth CNY28.78 billion (US$4.2 billion).
Speaking in March, Goldwind president Wu Gang said the company's bid to go public is a major component of its global expansion strategy.
"Issuing shares is a first step in our international market-oriented change," Wu says. "Entering the Hong Kong market will improve our management level and corporate governance at a faster rate."