大金重工冲刺“A+H”，欧洲成“摇钱树”并手握百亿订单

Core Viewpoint - The offshore wind power sector is experiencing significant growth, with companies like Daikin Heavy Industries and others in the Hong Kong and A-share markets showing impressive stock performance and market positioning. Group 1: Company Performance - Daikin Heavy Industries has seen its stock price increase by nearly 130% this year, leading the A-share wind power sector [2] - The company has established itself as a key player in the European offshore wind market, becoming a major supplier for various projects since entering the market in 2019 [5][6] - In the first half of 2025, Daikin Heavy Industries is projected to hold a market share of 29.1% in the European offshore wind foundation equipment sector, up from 18.5% in 2024 [6] Group 2: Financial Performance - Daikin Heavy Industries' revenue surged from 7.58 billion RMB in the same period last year to 22.43 billion RMB, resulting in a total revenue of 28.41 billion RMB for the first half of 2025, more than doubling year-on-year [6] - The company's net profit for the same period increased over twofold to 5.47 billion RMB [6] - The gross profit margin for overseas business reached 30.7%, significantly higher than the 18.7% margin for domestic operations [6] Group 3: Market Dynamics - The global offshore wind auction volume is expected to reach a record high of 56.3 GW in 2024, with Europe contributing 23.2 GW [8] - Daikin Heavy Industries has over 10 billion RMB in hand overseas orders, primarily focused on projects in the North Sea and the Baltic Sea [10] - The company is planning to establish a local production base in Europe to enhance service capabilities and mitigate trade risks [11] Group 4: Strategic Outlook - The upcoming "A+H" dual listing is anticipated to strengthen Daikin Heavy Industries' position in the global wind power equipment sector [12] - Despite geopolitical and trade uncertainties, the company's substantial order backlog and localization strategy provide a solid foundation for future growth [12]