Group 1: Market Performance - The liquidity of the Rare Earth ETF managed by Jiashi has a turnover rate of 1.61%, with a transaction volume of 1.74 billion yuan [2] - The latest scale of the Rare Earth ETF reached 108.04 billion yuan, marking a new high since its establishment and ranking first among comparable funds [2] - The latest share count of the Rare Earth ETF is 6.034 billion shares, also a new high since its inception, and ranks first among comparable funds [2] - Over the past 7 days, the Rare Earth ETF has seen continuous net inflows, with a maximum single-day net inflow of 1.184 billion yuan, totaling 3.405 billion yuan [2] - As of October 20, the net value of the Rare Earth ETF has increased by 88.93% over the past two years, ranking 59th out of 2358 index equity funds, placing it in the top 2.50% [2] - The highest monthly return since the establishment of the Rare Earth ETF is 41.25%, with the longest consecutive monthly increase being 4 months and the longest increase percentage being 83.89% [2] Group 2: Industry Developments - On October 19, Tianhe Magnetic Materials announced plans to invest 850 million yuan in a project for high-performance rare earth permanent magnets and related equipment in Baotou City [3] - Northern Rare Earth and Baotou Steel announced an increase in rare earth prices for the fourth quarter of 2025 [3] - In September, the export of rare earths and related products reached 10,538 tons, a year-on-year increase of 7.6%, with a cumulative export of 95,875 tons from January to September, up 3.1% year-on-year [3] - The Ministry of Commerce of China issued two announcements on October 9 regarding rare earth export controls, indicating that products containing Chinese-origin rare earths valued at 0.1% or more may be subject to export restrictions [3] - The new regulations on rare earths are seen as a necessary response in the context of global supply chain competition, following similar measures for gallium and germanium [3] - It is recommended to focus on investment opportunities along the "resources + growth" dual lines, considering the potential impact of regional politics and export policies from major resource countries [3]

每经AI快讯，金风科技(02208.HK)涨超3%，截至发稿，涨3.13%，报13.2港元，成交额3088.01万港元。 （文章来源：每日经济新闻） ...

Core Viewpoint - The wind power industry in China is poised for significant growth, with the recent Beijing International Wind Energy Conference highlighting ambitious installation targets and market reforms that will enhance profitability and operational efficiency in the sector [1] Industry Summary - The 2025 Beijing International Wind Energy Conference has set a new target for annual installed capacity of no less than 120 million kilowatts during the 14th Five-Year Plan, doubling the previous goal set in 2020 [1] - Analysts suggest that the wind power sector is benefiting from market-oriented reforms, which will facilitate a transition from rapid growth to high-quality development, laying a solid foundation for the start of the 14th Five-Year Plan [1] - The upcoming peak season for offshore wind power bidding is expected to improve industry profitability, with the third quarter marking a busy period for wind power project commencements, indicating a potential acceleration in industry prosperity [1] Company Summary - Goldwind Technology (金风科技) has seen its stock price increase by over 3%, reaching HKD 13.2, with a trading volume of HKD 30.88 million, reflecting positive market sentiment towards the company amid favorable industry developments [1]

Core Viewpoint - The wind energy sector in China is poised for significant growth, with the 2025 Beijing International Wind Energy Conference highlighting ambitious installation targets and a shift towards high-quality development in the industry [1] Industry Summary - The 2025 Beijing International Wind Energy Conference has commenced, unveiling the "Beijing Wind Energy Declaration 2.0," which sets a target of adding no less than 120 million kilowatts of new installed capacity during the 14th Five-Year Plan period, doubling the annual installation goal from 2020 [1] - Analysts suggest that the wind power industry is benefiting from market-oriented reforms, which are expected to enhance the sector's growth trajectory, transitioning from rapid expansion to high-quality development [1] - The upcoming third-quarter reports are anticipated to reflect the industry's successful transition and solidify the foundation for the 14th Five-Year Plan [1] Company Summary - Goldwind Technology (金风科技) has seen its stock price increase by over 3%, reaching HKD 13.2, with a trading volume of HKD 30.88 million [1] - Industry insiders indicate that the domestic offshore wind power sector is entering a peak bidding season, which is likely to improve profitability across the industry [1] - The third quarter is expected to mark the beginning of a prosperous phase for wind power projects, with performance improvements across the entire supply chain, including manufacturers of complete systems and components [1]

Group 1: Event Overview - The 2025 Beijing International Wind Energy Conference and Exhibition was held from October 20 to 22, focusing on "Promoting Global Energy Transition and Achieving Sustainable Development" [1] - The event showcased innovations in wind power technology and attracted global industry professionals, experts, and investors [1] Group 2: Offshore Wind Energy Development - China has abundant offshore wind energy resources, making its development crucial for energy security and green low-carbon transition [2] - The floating wind turbine developed by Goldwind Technology and the Three Gorges Group was successfully installed, enabling the exploration of deep-sea wind energy resources [2] - The floating wind turbine can reduce development costs and optimize economic indicators for offshore wind projects [2] Group 3: Innovations in Maintenance and Monitoring - Nanjing Saturn Vision Technology introduced a product for early warning of internal cracks in wind turbine blades, enhancing fault diagnosis and prevention [3] - The shift towards digitalization in maintenance allows for proactive monitoring and timely repairs, moving away from reactive maintenance models [3] Group 4: High-Quality Development and New Technologies - The "Three North" regions are accelerating onshore wind power development, with significant increases in installed capacity [4] - New technologies, such as low-temperature startup lubrication systems, are being developed for extreme environments in desert and arid regions [4] Group 5: AI and Smart Operations - Artificial intelligence is transforming the wind power industry, enabling predictive maintenance and improved operational efficiency [5] - The "Wind Power + Rural Areas" initiative is promoting distributed wind power projects in rural areas, enhancing local economic development [5] Group 6: Industry Trends - The wind power industry is evolving towards larger, more intelligent, and marine-oriented systems, facing challenges in reliability and efficiency [6] - Innovation and technology are driving the industry's contribution to global energy transition and sustainable development [6]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 GOLDWIND SCIENCE&TECHNOLOGY CO., LTD.* 金風科技股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司 ) (Stock Code: 02208) 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲載列金風科技股份有限公司在深圳證券交易所網站刊登的《金風科技股份有限 公司關於為全資子公司金風澳洲提供擔保的公告》，僅供參閱。 承董事會命 金風科技股份有限公司 馬金儒 公司秘書 北京，2025年10月20日 於本公告日期，公司執行董事為武鋼先生及曹志剛先生；公司非執行董事為高建軍先生、楊 麗迎女士及張旭東先生；公司獨立非執行董事為曾憲芬先生、劉登清先生及苗兆光先生；及 公司職工代表董事為余寧女士。 *僅供識別 股票代码：002202 股票简称：金风科技 公告编号：2025-090 金风科技股份有限公司 关于为全资子公司金风澳洲 ...

股票代码：002202 股票简称：金风科技 公告编号：2025-090 金风科技股份有限公司 特别提示： 本次拟担保的被担保对象 Goldwind Australia Pty Ltd 的资产负债 率超过 70%，请投资者充分关注担保风险。 一、担保情况概述 关于为全资子公司金风澳洲提供担保的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 金风科技（以下简称"公司"）的全资子公司金风国际控股（香港） 有限公司（以下简称"金风国际"）的全资子公司 Goldwind Australia Pty Ltd（以下简称"金风澳洲"）与 Zenith Energy Operations Pty Ltd 签署 《质保、运营和维护协议》，由金风澳洲为其提供风机的质保、运营 和维护。 金风科技与 Zenith Energy Operations Pty Ltd 签署《母公司担保协 议》，为金风澳洲在上述《质保、运营和维护协议》项下的履约责任 和义务提供担保，担保金额为 13,345,995.62 澳元（折合人民币约 61,707,879.95 元），担保期限自《母公司担保协议 ...

Core Viewpoint - The company has announced a guarantee for its wholly-owned subsidiary, Goldwind Australia, in relation to an operational maintenance agreement with Zenith Energy, indicating a strategic move to support its international operations [1] Group 1: Guarantee Details - Goldwind Australia has signed an operational maintenance agreement with Zenith Energy, with Goldwind providing a parent company guarantee [1] - The guarantee amount is 13,345,995.62 AUD, approximately 61,707,879.95 CNY, with a projected term from 2025 to 2043 [1] - The guarantee falls within the approved limits of the shareholders' meeting and does not require board approval [1] Group 2: Financial Position - As of August 31, 2025, Goldwind Australia's total assets are 1,898,593,100 CNY, and total liabilities are 1,726,281,200 CNY [1] - After this guarantee, the company's total external guarantee balance stands at 1,054,000,000 CNY, with no overdue guarantees reported [1]

Core Viewpoint - The wind power equipment sector experienced a strong opening on October 20, with notable gains in stock prices for several companies, indicating positive market sentiment in the industry [2] Company Performance - Feiwo Technology saw its stock price increase by over 6% [2] - Guangda Special Materials reported a stock price rise of over 5% [2] - Other companies in the sector, such as Electric Wind Power and Goldwind Technology, also experienced upward movement in their stock prices [2]

Investment Rating - The report maintains a "Positive" investment rating for the wind power industry [15]. Core Insights - The offshore wind installation is expected to experience explosive growth by 2026, coupled with tight local supply, creating opportunities for domestic wind power companies to expand internationally. Domestic companies have already begun to realize overseas performance, which is anticipated to continue to release growth potential [7][25]. - Recent financial disclosures from overseas companies indicate a strong investment willingness from power operators, with capital expenditures continuing to expand and offshore wind projects at historical highs in terms of construction and Final Investment Decision (FID) scale [4][11]. Summary by Sections Introduction - The report emphasizes the anticipated explosive growth in offshore wind installations and the tight supply situation, which provides a broad space for domestic companies to venture abroad. It also highlights the recent performance of overseas wind power companies [7][25]. Wind Turbines: Mixed Performance with Abundant Orders - In Q2 2025, major turbine manufacturers showed varied performance. Vestas reported a revenue increase of 14% year-on-year, while Nordex and Siemens Energy saw declines in revenue but improvements in profitability. The order backlog for these companies is robust, with Vestas and Nordex having orders equivalent to 2.3 and 1.4 times their 2024 revenue, respectively [8][26][37]. Submarine Cables: Revenue and Profit Growth with Historical High Orders - Submarine cable companies reported revenue growth in Q2 2025, with Prysmian, Nexans, and NKT achieving year-on-year increases of 15.8%, 5.2%, and 19.5%, respectively. Their order backlogs are at historical highs, with Prysmian's backlog being 6.4 times its 2024 revenue [9][44][55]. Piles: Temporary Profit Pressure with Record Order Scale - Sif, a major player in the pile segment, reported a 2% increase in revenue for Q2 2025, despite a decline in production volume. The company’s order backlog reached approximately 625,000 tons, indicating strong future delivery potential [10][63][75]. Operators: Expanding Capital Expenditures with High Construction and FID Scale - Key operators Ørsted, RWE, and Vattenfall reported significant revenue growth in their offshore wind segments, with Ørsted's capital expenditures at historical highs. Their projects under construction and FID are also at record levels, indicating a strong commitment to offshore wind development [11][78][97]. Contractors: Accelerating Business Growth with Record High Orders - Cadeler, a contractor in the offshore wind sector, reported a remarkable 269% increase in revenue for Q2 2025, driven by growth in vessel leasing and installation services. The company’s order backlog reached approximately €2.492 billion, marking a historical high [12][106][110].