政策驱动风电设备走强！新强联前三季净利大增1939％，价值重估窗口已打开？｜掘金百分百

Core Viewpoint - The wind power equipment leader, Xin Qiang Lian, has attracted significant market attention due to its outstanding performance in the first three quarters of 2025, with revenue and net profit showing substantial year-on-year growth [3][4]. Financial Performance - Xin Qiang Lian reported a revenue of 3.618 billion yuan and a net profit of 664 million yuan for the first three quarters of 2025, representing year-on-year increases of 84.10% and 1939.50%, respectively [3][4]. - The company's gross margin was 28.88% and net margin was 18.94%, both showing improvements compared to the previous year [4]. Stock Performance - As of October 30, 2025, Xin Qiang Lian's stock price closed at 53.89 yuan per share, with a monthly increase of approximately 24% and an annual increase exceeding 180% [3][6]. - The stock experienced a notable rise of nearly 30% from October 20 to 24, 2025, following a five-day consecutive increase [6]. Market Dynamics - The growth of Xin Qiang Lian's stock is supported by favorable policies in the wind power sector, such as the "Wind Energy Beijing Declaration 2.0," which sets ambitious installation targets for wind power during the 14th Five-Year Plan [6][8]. - The wind power equipment sector has seen multiple stocks doubling in value this year, reflecting a broader market trend driven by policy incentives [7][8]. Operational Insights - Xin Qiang Lian has a robust order book for wind power bearings and is progressing with its production plans while remaining flexible to market changes [5]. - The company is enhancing its production capacity through equipment upgrades and process optimizations, aiming to improve delivery capabilities [5]. Research and Development - Xin Qiang Lian's R&D expenditures have been increasing, with 130 million yuan spent in the first three quarters of 2025, contributing to its technological advancements and patent portfolio [10]. - The company has achieved significant milestones in developing large-scale bearings for shield tunneling machines, filling domestic gaps and reaching international standards [10].