债券代码：524606 证券简称：25 运达 GY01 运达能源科技集团股份有限公司 2025 年面向专业投资者公开发行绿 色可续期公司债券（第一期）票面利率公告 运达能源科技集团股份有限公司（以下简称"公司"）发行面值不超过 25 亿 元人民币绿色可续期公司债券已获得的中国证券监督管理委员会《关于同意运达 能源科技集团股份有限公司向专业投资者公开发行绿色可续期公司债券注册的 批复》（证监许可〔2025〕2690 号）。本次债券分期发行，运达能源科技集团股份 有限公司 2025 年面向专业投资者公开发行绿色可续期公司债券（第一期）（以下 简称"本期债券"）为第一期发行。本期债券发行规模为不超过（含）人民币 15 亿 元。 2025 年 12 月 22 日，发行人和主承销商在网下向专业机构投资者进行了票 面利率询价，利率询价区间为 2.00%-3.00%。根据网下向专业机构投资者询价结 果，经发行人和主承销商充分协商和审慎判断，最终确定本期债券票面利率为 2.49%。 发行人将按上述票面利率于 2025 年 12 月 23 日面向专业机构投资者网下发 行。具体认购方法请参考 2025 年 12 月 18 日刊登 ...

Group 1 - The core project involves the procurement of wind turbine generators (including towers and box transformers) for the Xinjiang Huadian Tacheng and Bole County 1.05 million kW wind power project [1][8] - The project is divided into two bidding sections: Section One for 560 MW with a bid price of 1,063.53495 million yuan and Section Two for 490 MW with a bid price of 988.958 million yuan [2][9] - The specifications for Section One include wind turbine models with capacities between 6 MW and 8 MW, with a maximum of 77 turbines, while Section Two requires turbines with capacities from 8.0 MW to 8.99 MW, with a maximum of 61 turbines [10] Group 2 - The China Power Construction Corporation announced the procurement of wind turbine generators for a 350 MW wind farm project associated with the advanced computing cluster project in Xinjiang [4][13] - The successful bidder for this project is SANY Heavy Energy, with a bid price of 667.163 million yuan [4][15] - The quality of the bid from SANY Heavy Energy is classified as qualified [15]

Group 1: Order and Market Performance - In the first nine months of 2025, the company secured new orders totaling 18,131.12 MW, with a cumulative order backlog of 46,868.05 MW by the end of September 2025 [2] - The order backlog includes 993.70 MW of 2-4 MW wind turbines, 8,366.02 MW of wind turbines between 4-6 MW, and 37,508.33 MW of turbines 6 MW and above [2] Group 2: Pricing Trends and Market Dynamics - The increase in wind turbine bidding prices this year is attributed to several factors, including the signing of a self-regulatory agreement to address unfair competition and the emphasis on preventing "involution" in competition by national meetings [3] - There is a growing preference among clients for high-quality, high-performance turbines, leading to a slight rebound in bidding prices [3] Group 3: International Business Expansion - The company’s overseas bidding capacity has more than doubled year-on-year, with a growth rate exceeding 100% in 2024, marking significant breakthroughs in markets such as the Middle East and North Africa [3] - The company aims to accelerate its global strategy and increase the scale of overseas orders to enhance future profitability [3] Group 4: Offshore Wind Power Development - The company is focusing on the offshore wind power market, particularly in Zhejiang and other coastal provinces, aiming to establish a leading position in the industry [4] - Investments have been made in offshore wind power bases in Dalian and Wenzhou, creating a strategic layout for offshore wind power [4] Group 5: Future Growth Drivers - Key drivers for future growth include ongoing policy support for the renewable energy sector, technological advancements enhancing the strategic position of wind power, rapid expansion in international markets, increasing industry recognition, and growth in other business segments [4]

因簿记当日市场波动，经发行人、簿记管理人协商一致，现将簿记建档结束 时间由 2025 年 12 月 22 日 17：00 延长至 19：00。 关于延长运达能源科技集团股份有限公司 2025 年面向专业投资者公 开发行绿色可续期公司债券（第一期）簿记建档时间的公告 运达能源科技集团股份有限公司（以下简称"发行人"）向专业投资者公开 发行面值总额不超过 25 亿元的绿色可续期公司债券已获得中国证券监督管理委 员会同意注册的批复（证监许可〔2025〕2690 号）。 根据《运达能源科技集团股份有限公司 2025 年面向专业投资者公开发行绿 色可续期公司债券（第一期）发行公告》，发行人和簿记管理人定于 2025 年 12 月 22 日 15：00 至 17：00 以簿记建档的方式向网下投资者进行利率询价，并根 据簿记建档结果确定本期债券的最终票面利率。 （本页无正文，为《关于延长运达能源科技集团股份有限公司 2025 年面向专业 投资者公开发行绿色可续期公司债券（第一期）簿记建档时间的公告》之盖章 页） 牵头主承销商、簿记管理人：财通证券股份有限公司 年 月 日 特此公告。 （本页无正文，为《关于延长运达能源科技集 ...

Core Viewpoint - The report highlights a decline in China's wind power generation in October 2025, with a year-on-year decrease of 11.9%, while the cumulative production from January to October 2025 shows a growth of 7.6% compared to the previous year [1]. Group 1: Industry Overview - In October 2025, China's wind power generation reached 73.3 billion kilowatt-hours, marking an 11.9% decrease year-on-year [1]. - The cumulative wind power generation from January to October 2025 totaled 841.67 billion kilowatt-hours, reflecting a 7.6% increase compared to the same period last year [1]. Group 2: Companies Involved - Listed companies in the wind power sector include Jinlun Technology (002202), Mingyang Smart Energy (601615), Yunda Co., Ltd. (300772), Shanghai Electric (601727), and others [1].

Core Viewpoint - The wind turbine bidding prices have slightly rebounded this year due to a focus on quality and reliability in the industry, alongside efforts to combat unhealthy competition [2] Industry Summary - In October 2024, 12 domestic turbine manufacturers signed the "Self-Regulation Convention for Maintaining Fair Competition in the Chinese Wind Power Industry" at the Beijing Wind Energy Exhibition, addressing issues like vicious low-price competition and unfair contract terms [2] - National-level meetings have repeatedly emphasized the need to prevent and comprehensively rectify "involution-style" competition, with some owners actively responding by adjusting their bidding rules [2] - There is an increasing emphasis on the quality and reliability of wind turbines within the industry, leading more owners to prefer high-quality, high-performance units with optimal cost per kilowatt-hour [2]

证券日报网12月19日讯运达股份（300772）在12月19日回答调研者提问时表示，公司未来增长的主要驱 动因素包括但不限于：一是政策持续推动新能源行业发展；二是技术进步促进风电在新能源中的战略地 位提升；三是海上海外市场的快速扩展；四是公司的行业认可度不断提升，市场份额提升；五是公司其 他业务板块的增长。 ...

证券日报网12月19日讯运达股份（300772）在12月19日回答调研者提问时表示，公司深耕浙江并积极布 局沿海省份市场，力争海上风电排名行业领先，形成海风品牌优势及核心竞争力，具体为：一是先后在 大连太平湾、温州洞头两地投资建设海上风电总装基地，形成"一南一北"海上风电基地布局；二是充分 发挥浙江省内资源禀赋优势及省属国企优势，在省内实施谋划一批近、远海风电项目；三是积极关注大 连、广东等地的深远海市场。2025年公司已中标浙江部分深远海项目订单。 ...

证券日报网12月19日讯运达股份（300772）在12月19日回答调研者提问时表示，公司通过提高技术研发 能力、提升产品性能、开发有竞争力的新产品等多方面改善公司盈利能力。一是公司通过风电机组产品 关键参数迭代优化、LAC系统降载，桨叶优化统型、超高扭矩密度齿轮箱应用等新技术应用和设计优 化，不断提高主力机组的成本竞争力。二是公司基于前期积累的设备运营数据，将研发和设计延伸到了 部分核心部件(如桨叶等)，从核心零部件自研入手提升公司毛利率。 ...

证券日报网12月19日讯运达股份（300772）在12月19日回答调研者提问时表示，中国的陆上风电无论在 技术水平还是供应链保障能力上均处于世界一流水平，在成本端的优势愈加明显，国际竞争力持续增 强，未来全球很多区域的中国风电机组占比将持续提升。2024年公司海外中标容量同比增长超100%， 连续两年保持翻倍增长，并在中东、北非等市场实现突破，首次获取项目订单。公司未来将加速全球战 略布局，加大海外新业主开拓力度，提升海外订单规模，打造公司未来盈利增长点。 ...