MYSE(SH:601615) Zheng Quan Shi Bao Wang·2025-04-25 14:58Core Insights - Mingyang Smart Energy reported a stable overall performance in 2024, achieving an operating revenue of 27.158 billion yuan and a net profit attributable to shareholders of 346 million yuan. In Q1 2025, the company saw a significant year-on-year increase of 51.78% in operating revenue, reaching 7.704 billion yuan, with a net profit of 302 million yuan [1] Group 1: Business Performance - The company achieved sales of wind turbines and related components amounting to 20.833 billion yuan, with new wind turbine orders totaling 27.11 GW and external sales of 10.82 GW, reflecting a year-on-year growth of 11.66% [3] - The average operating hours of the company's renewable energy plants reached 2,057 hours, generating revenue of 1.729 billion yuan from power generation. The installed capacity of operational renewable energy plants stood at 2.05 GW, with 4.69 GW under construction [4] Group 2: Innovation and Technology - Mingyang Smart Energy focuses on technological innovation in offshore wind power, developing large-scale and deep-sea wind power solutions. The company launched the world's first "Mingyu No. 1" integrated wind-fishing intelligent equipment, achieving breakthroughs in deep-sea "green electricity direct supply + ecological aquaculture" [2] - The company has developed a range of wind turbine products, including onshore turbines from 2.5 to 15 MW and offshore turbines from 5.5 to 25 MW, along with innovative floating turbines [2] Group 3: Market Expansion - The company is actively expanding its global presence, with operations in over 10 countries across Asia, Europe, and America. It has initiated projects in Northeast Asia, Southeast Asia, and Europe, including a collaboration with BASF for a Sino-German offshore wind farm project [5] - Mingyang Smart Energy has received multiple global awards for its wind turbine products, highlighting international recognition and the company's commitment to sustainable development [5] Group 4: Future Outlook - The global wind power market is expected to grow significantly, with GWEC predicting an increase in global wind power installed capacity from 117 GW in 2023 to 182 GW by 2028, with offshore wind capacity growing at a compound annual growth rate of approximately 27.5% [6] - The company aims to leverage its comprehensive renewable energy strategy, focusing on integrated solutions in wind, solar, storage, and hydrogen, to drive innovation and transition towards a comprehensive energy supplier model [8]