Core Viewpoint - Morgan Stanley upgraded the rating of China's wind power industry, suggesting that the sector may experience a recovery following efforts to combat internal competition [1] Group 1: Market Performance - Wind power stocks rose in early trading, with Goldwind Technology (02208) up 7.64% at HKD 13.81, Datang New Energy (01798) up 6.11% at HKD 2.78, China High-Speed Transmission (00658) up 5.45% at HKD 1.74, and Longyuan Power (00916) up 5.56% at HKD 8.17 [1] Group 2: Industry Outlook - After nearly three years of a downturn, the Chinese wind power value chain has successfully achieved self-regulation, reversing the trend of unhealthy competition [1] - Morgan Stanley expects domestic wind power installation demand to remain resilient, with key component suppliers and submarine cable companies presenting investment opportunities [1] - The report indicates that during the 14th Five-Year Plan period, the average annual new installed capacity will exceed 110 GW, potentially reaching around 120 GW during 2028-2030 [1]

Core Viewpoint - Goldwind Technology (金风科技) has seen a stock price increase of over 6%, currently trading at 13.47 HKD with a transaction volume of 1.44 billion HKD, following the announcement of a significant investment in a wind-hydrogen-ammonia integrated project in Urat Qianqi, with a total investment of approximately 18.92 billion CNY [1][1][1] Group 1 - The company plans to develop a 3GW wind power project, with over 80% of the generated electricity used for electrolysis to produce green hydrogen, alongside the production of 600,000 tons of green methanol and 400,000 tons of green ammonia annually [1][1][1] - Ping An Securities highlights that the hydrogen-ammonia-methanol business is essentially an extension of the power station business, alleviating market concerns regarding the future of wind turbine companies' power station operations due to supportive policies for green liquid fuels [1][1][1] - The current environment presents a threefold resonance for wind turbine companies, including an upward turning point in domestic wind turbine manufacturing profitability, upcoming performance realization from overseas markets, and the incremental growth of hydrogen-ammonia business in power station operations, indicating a positive investment outlook for wind power equipment manufacturers [1][1][1]

Core Viewpoint - Goldwind Technology (02208) has seen a significant stock price increase, with a recent rise of over 6%, currently trading at 13.47 HKD, with a transaction volume of 1.44 billion HKD [1] Group 1: Project Announcement - Goldwind Technology announced plans to initiate a 3GW wind-hydrogen-ammonia integrated project in Urat Qianqi, with a total investment of approximately 18.92 billion RMB [1] - The project aims to construct 3GW of wind power, with over 80% of the generated electricity used for electrolysis to produce green hydrogen, resulting in the production of 600,000 tons of green methanol and 400,000 tons of green ammonia annually [1] Group 2: Market Analysis - According to Ping An Securities, the hydrogen-ammonia-methanol business is essentially an extension of the power station business [1] - In light of the implementation of Document No. 136, there were initial concerns regarding the development prospects of wind turbine companies' power station businesses; however, with policy support for green liquid fuels and increased investments in hydrogen-ammonia-methanol, the outlook for wind turbine companies' power station businesses has improved [1] - The firm believes that wind turbine manufacturers are currently experiencing a turning point in profitability for domestic wind turbine manufacturing, are about to realize performance gains from overseas expansion, and are benefiting from the incremental growth in hydrogen-ammonia-methanol within the power station business, creating a favorable investment opportunity for wind power equipment manufacturers [1]

格隆汇9月25日丨金风科技(002202.SZ)公布，收到股东和谐健康保险股份有限公司-万能产品（简称"和 谐健康"）出具的《关于减持股份触及1%整数倍的告知函》，和谐健康于2025年9月22日至2025年9月24 日期间通过集中竞价方式累计减持公司股份57,141,854股，占公司总股本的比例为1.352448%，占剔除 公司回购专用账户中的股份数量后总股本的比例为1.353354%。本次权益变动后，和谐健康持有公司股 份数量由422,506,671股减少至365,364,817股，占公司总股本的比例由9.999998%减少至8.647550%，占 剔除公司回购专用账户中股份数量后总股本的比例由10.006696%减少至8.653342%，权益变动触及1%的 整数倍。 ...

Core Viewpoint - The company, Goldwind Technology, reported a significant reduction in shareholding by Harmony Health Insurance Co., Ltd., which has implications for the company's ownership structure and potential market perception [1] Group 1: Shareholding Changes - Harmony Health reduced its shareholding in Goldwind Technology by 57,141,854 shares, representing 1.352448% of the total share capital [1] - Following this reduction, Harmony Health's total shareholding decreased from 422,506,671 shares to 365,364,817 shares, lowering its ownership percentage from 9.999998% to 8.647550% [1] - The reduction also affected the percentage of shares held after excluding the company's repurchase account, changing from 10.006696% to 8.653342% [1]

智通财经APP讯，金风科技(02208)公布，2025年9月25日，公司收到股东和谐健康保险股份有限公司-万 能产品(以下简称"和谐健康")出具的《关于减持股份触及1%整数倍的告知函》，和谐健康于2025年9月 22日至 2025年9月24日期间通过集中竞价方式累计减持公司股份57,141,854 股，占公司总股本的比例为 1.352448%，占剔除公司回购专用账户中的股份数量后总股本的比例为1.353354%。 本次权益变动后，和谐健康持有公司股份数量由422,506,671股减少至365,364,817股，占公司总股本的比 例由9.999998%减少至8.647550%，占剔除公司回购专用账户中股份数量后总股本的比例由10.006696% 减少至8.653342%，权益变动触及1%的整数倍。 ...

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 公司關於持股 5%以上股東權益變動觸及 1%整數倍的公告》，僅供參閱。 ( 於中華人民共和國註冊成立的股份有限公司 ) (Stock Code: 02208) 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 海外監管公告 公司股东和谐健康保险股份有限公司-万能产品保证向本公司 提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述 或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提 供的信息一致。 2025年9月25日，金风科技（以下简称"公司"）收到股东和谐健 康保险股份有限公司-万能产品（以下简称"和谐健康"）出具的《关 于减持股份触及1%整数倍的告知函》，和谐健康于2025年9月22 ...

特此公告。 本公司及董事会全体成员保证公告内容与信息披露义务人提 供的信息一致。 2025年9月25日，金风科技（以下简称"公司"）收到股东和谐健 康保险股份有限公司-万能产品（以下简称"和谐健康"）出具的《关 于减持股份触及1%整数倍的告知函》，和谐健康于2025年9月22日至 2025年9月24日期间通过集中竞价方式累计减持公司股份57,141,854 股，占公司总股本的比例为1.352448%，占剔除公司回购专用账户中 的股份数量后总股本的比例为1.353354%。本次权益变动后，和谐健 康持有公司股份数量由422,506,671股减少至365,364,817股，占公司总 股本的比例由9.999998%减少至8.647550%，占剔除公司回购专用账 户中股份数量后总股本的比例由10.006696%减少至8.653342%，权益 变动触及1%的整数倍。具体情况如下： | 1.基本情况 | | | | | | --- | --- | --- | --- | --- | | 信息披露义务人 | 和谐健康保险股份有限公司-万能产品 | | | | | 住所 | 中国（四川）自由贸易试验区成都高新区天府大道北段 ...

Core Viewpoint - Harmony Health Insurance Co., Ltd. reduced its stake in Goldwind Technology (002202.SZ) by selling 57,141,854 shares, representing 1.352448% of the company's total share capital, which indicates a significant change in shareholder structure [1] Summary by Relevant Sections - **Shareholder Action** - Harmony Health Insurance sold a total of 57,141,854 shares of Goldwind Technology from September 22 to September 24, 2025 [1] - Following this transaction, Harmony Health's shareholding decreased to 365,364,817 shares, which now constitutes 8.647550% of the total share capital [1]

Core Viewpoint - Jinpeng Technology's stock rose by 5.15% on September 25, reaching 14.10 CNY per share, with a trading volume of 1.977 billion CNY and a turnover rate of 4.31%, resulting in a total market capitalization of 59.573 billion CNY [1] Group 1: Company Overview - Jinpeng Technology Co., Ltd. is located in Beijing and was established on March 26, 2001, with its listing date on December 26, 2007 [1] - The company's main business includes the development, manufacturing, and sales of wind turbines, wind power services, investment and development of wind farms, and water services [1] - The revenue composition of the main business is as follows: sales of wind turbines and components account for 76.58%, wind farm development 11.12%, wind power services 10.15%, and others 2.16% [1] Group 2: Shareholder Information - Among the top ten circulating shareholders of Jinpeng Technology, a fund under Southern Fund holds a significant position [2] - The Southern CSI 500 ETF (510500) reduced its holdings by 4.743 million shares in the second quarter, now holding 30.7289 million shares, which represents 0.74% of the circulating shares [2] - The estimated floating profit from this position is approximately 21.2029 million CNY [2] Group 3: Fund Manager Profile - The fund manager of Southern CSI 500 ETF (510500) is Luo Wenjie, who has been in the position for 12 years and 160 days [3] - The total asset size of the fund is 138.999 billion CNY, with the best fund return during his tenure being 145.85% and the worst being -47.6% [3]