Zhi Tong Cai Jing·2025-10-22 00:58Industry Overview - As of now, the newly installed wind power capacity in China exceeds 57.84 million kilowatts, with a cumulative installed capacity of 580 million kilowatts, accounting for 15.7% of the national power generation capacity [1] - The wind power installed capacity in China has ranked first in the world for 15 consecutive years and is entering a new era of annual new installations exceeding 10 million kilowatts [1] - In the first eight months of 2025, the national wind power installed capacity reached 58 GW, a year-on-year increase of 72%, with Q3 showing continued growth in both onshore and offshore wind deliveries [1] - From January to September 2025, onshore wind turbine bidding reached 79 GW, a year-on-year increase of 7%, while offshore wind bidding reached 8.3 GW, a year-on-year increase of 9% [1] - The 2025 Beijing International Wind Energy Conference and Exhibition, known as a "barometer" for China's wind power industry, opened on October 20, where the "Beijing Wind Energy Declaration 2.0" was released, aiming for an annual new installed capacity of no less than 12 million kilowatts during the 14th Five-Year Plan period [1] Company Insights - Longyuan Power (001289) is a listed company under the State Energy Group, rapidly developing its offshore wind power business with multiple large offshore wind farms in Jiangsu and Fujian [2] - Longyuan Power is expected to benefit from VAT tax refund policies, enhancing cash flow and overall performance, having won a bid for a 1 million kilowatt offshore wind power project in Jiangsu, a key project for 2025 [2] - Goldwind Technology (002202) is a leading player in the domestic wind power industry, heavily investing in offshore wind power technology research and product manufacturing [2] - The new policies are anticipated to further promote the offshore wind power market, providing a favorable market environment for Goldwind's offshore wind equipment sales, with projected revenue from self-owned wind farms reaching 10.8 billion RMB in 2024 [2] - In the first half of 2025, Goldwind's new signed orders in the offshore wind market reached 6 GW, and the company secured over 43% of the bidding volume in the 675 MW wind power project by Huadian in October 2025, showcasing its strong competitive edge [2] - Goldwind plans to invest 6 billion RMB in building a zero-carbon wind power industrial base in the Beibu Gulf, further enhancing its competitiveness in the offshore wind market [2] - Goldwind's cumulative delivery of wind power mixed towers has surpassed 3,000 units, serving over 240 wind power projects across 21 provinces, with a cumulative delivery capacity exceeding 15 GW [2]