Core Viewpoint - The report from Zheshang Securities highlights that Yaxing Anchor Chain is a core supporting enterprise in "deep-sea technology," benefiting from the rising demand in the shipping and offshore oil and gas sectors, as well as the growth potential in floating wind power [1] Group 1: Project Overview - Currently, there are five connected floating offshore wind power projects, including the Three Gorges Leading No. 1, China Shipbuilding Fuyun No. 1, CNOOC Guanquan No. 1, State Power Sharing No. 1, and Mingyang Tiancai No. 1, all of which are demonstration projects [1] - Three actively promoted domestic projects include the Hainan Wanning commercial project (100MW), CNOOC Lufeng Oilfield Group clean energy power supply transformation demonstration project (16MW), and the Three Gorges 16MW floating offshore wind power project [1] Group 2: Market Potential - According to the Global Wind Energy Council, it is estimated that by 2030, the global installed capacity of floating wind power will increase by 1.03GW, with a CAGR of 70% from 2024 to 2030; by 2034, the new installed capacity will reach 5.724GW, with a CAGR of 63% from 2024 to 2034 [1] - The estimated market space for new mooring chains corresponding to the new installed capacity of floating wind power in 2034 is approximately 14.3 billion [1] Group 3: Company Outlook - Previously, the company's performance was mainly reliant on the contributions from ship anchor chains and offshore oil service mooring chains, which had limited market space; however, with the active expansion into the floating wind power sector and product matrix, the market space has opened up [1] - The company is positioned as a key player in the shipping sector and is recognized as a strong alpha logic stock among wind power component companies, with positive prospects in shipping, offshore engineering, and floating wind power [1]
研报掘金丨浙商证券:维持亚星锚链“买入”评级,船舶、海上油气景气上行