Core Viewpoint - The company, specializing in the research, production, and sales of wind power gearboxes and speed increasers, continues to maintain a leading position in the domestic market while expanding its international presence in the renewable energy sector [4][6][9]. Company Overview - The company focuses on the development of wind power-specific gearboxes, including yaw gearboxes, pitch gearboxes, and speed increasers, providing precision transmission solutions for the renewable energy industry [4]. - The company has over 20 years of experience in the precision transmission field, accumulating rich experience and technology, and has developed various models of wind power gearboxes to adapt to different wind resources and environmental conditions [4][6]. Industry Development - The wind power gearbox and speed increaser industry is a crucial part of the renewable energy sector, with a continuous increase in installed capacity driven by the growing global demand for renewable energy [6]. - According to BNEF, China's new wind power installation capacity is expected to reach 86 GW in 2024, an increase of 11% compared to 2023, while global new wind power installation capacity is projected to be 121.6 GW, up 3.05% from 2023 [7]. Business Model - The company employs a direct sales model, customizing products for wind turbine manufacturers, with sales orders primarily obtained through bidding or business negotiations [8]. - The production model is based on "sales-driven production," where production plans are organized according to customer procurement plans [8]. - The procurement model follows "production-driven purchasing," ensuring compliance, traceability, and quality of materials while controlling costs [9]. Performance Drivers - The company aims to maintain existing customer relationships while actively exploring new customer resources, focusing on core business areas to ensure industry position and promote business growth [9]. - The company is also advancing its international strategy to expand into overseas markets, achieving initial success [9].
银川威力传动技术股份有限公司2024年年度报告摘要