DHI(SZ:002487) Zhi Tong Cai Jing·2025-09-29 13:12Core Viewpoint - Daikin Heavy Industries has submitted an application for listing on the Hong Kong Stock Exchange, aiming to leverage its leading position in the offshore wind power equipment market, particularly in Europe, where its market share is projected to grow significantly by 2025 [1][3]. Company Overview - Founded in 2000 and listed on the Shenzhen Stock Exchange in 2010, Daikin Heavy Industries has a total market capitalization of RMB 30.153 billion as of September 29, making it the first wind power tower company listed in China's A-shares [3]. - The company is recognized as a global leader in offshore wind power core equipment, providing a comprehensive "construction + transportation + delivery" solution for major offshore wind developers [3]. - Daikin Heavy Industries has transitioned from a product supplier to a system service provider, expanding its offerings to include specialized transportation, ship design and construction, and wind power port operations [3]. Market Position and Strategy - According to Frost & Sullivan, Daikin Heavy Industries is the top supplier of offshore wind power foundation equipment in Europe, with its market share expected to rise from 18.5% in 2024 to 29.1% in the first half of 2025 [1][3]. - The company has upgraded its "Two Seas Strategy" to a "New Two Seas Strategy," resulting in a significant increase in overseas revenue from 16.4% of total revenue in 2022 to 79.0% in the first half of 2025 [3]. - Daikin Heavy Industries has established a global marketing network with permanent offices in Europe and Japan, aiming to expand into emerging markets such as Australia and Southeast Asia [4]. Financial Performance - For the six months ending June 30, 2025, Daikin Heavy Industries reported a revenue of RMB 2.841 billion, a year-on-year increase of 109.5%, and a net profit of RMB 546.515 million, up 214.3% [6]. - The company achieved its best historical performance in the second quarter of 2025, benefiting from the growth of high-quality overseas project deliveries and maintaining a robust cash flow [6].