SCS(SH:601555) 智通财经网·2025-12-15 02:13Group 1: Domestic Wind Power Market - In 2025, China's offshore wind installation is expected to reach 8-10 GW, with a growth of over 30% in 2026, reaching 11-13 GW [1] - Onshore wind installations are projected to exceed 100 GW in 2025, with a year-on-year increase of over 25% [1] - The average annual installation during the 14th Five-Year Plan period is expected to be over 20 GW for offshore wind [1] Group 2: European Offshore Wind Market - European offshore wind auctions are set to increase significantly, with 20 GW planned for 2024, a 46% increase [2] - The average annual compound growth rate for European offshore wind installations from 2025 to 2030 is projected to be 21% [2] - A new round of offshore wind Final Investment Decisions (FID) is expected to start in 2023-2024, indicating accelerated installation in the coming years [2] Group 3: Submarine Cable Market - The submarine cable market is expected to reach 10.7 billion yuan in 2025, with a year-on-year growth of 62% [3] - The market is projected to grow to 34.3 billion yuan by 2030, with a compound annual growth rate of 26% from 2025 to 2030 [3] - The profit margins for 220 kV submarine cables are stable at 35-40%, while higher voltage cables show margins of 45-55% [3] Group 4: Tower and Pile Market - Domestic production capacity utilization has rapidly increased since Q2 2025, indicating a profitability turning point for related companies [4] - Internationally, companies are expanding rapidly, with significant profit margins and recognition from overseas clients [4] Group 5: Wind Turbine Market - Wind turbine prices have stabilized and are expected to rebound by over 5%, improving profitability for domestic companies in 2026 [5] - Overseas orders and deliveries for wind turbine companies are significantly increasing, with profit margins 5-10 percentage points higher than domestic [5]