“风电+算力”双轮驱动驶入快车道恒润股份上半年营收激增223%

Core Insights - Hengrun Co., Ltd. reported a significant increase in revenue and net profit for the first half of 2025, with revenue reaching 2.073 billion yuan, a year-on-year growth of 223.44%, and a net profit of 40.1665 million yuan, reversing losses from the previous year [1] Revenue and Profit Performance - The company benefited from a recovery in global wind power installations, leading to a full order book in its wind power segment [1] - The revenue from the AI computing power services of its subsidiary, Shanghai Runliushi, surged to 1.039 billion yuan, accounting for over 50% of total revenue for the first time [1] Technological Advancements - Hengrun Co., Ltd. is recognized as one of the first companies in China to mass-produce 12MW offshore wind turbine tower flanges, expanding its technological moat [1] - The product diameter range covers a full series from DN15 to 11.5 meters, indicating a comprehensive product offering [1] Research and Development - The company invested 41.8965 million yuan in R&D during the reporting period, marking a 62.5% increase, focusing on precision components for wind turbine gearboxes and AI server liquid cooling technology [1] - A project for an annual production of 2,000 sets of wind turbine gearbox components has been initiated by its wholly-owned subsidiary, Hengrun Transmission [1] Future Plans - The company aims to enhance its high-end manufacturing and digital computing power strategies over the next three years, with plans to increase the proportion of computing power business to 60% and achieve over 80% localization rate for wind power components [1]