Sou Hu Cai Jing·2026-02-06 09:16Core Viewpoint - The article discusses the recent investigation by the European Union (EU) into Goldwind Technology, a leading Chinese wind turbine manufacturer, which has caused significant market volatility and raised concerns about protectionism against Chinese companies in Europe [2][10]. Group 1: Company Overview - Goldwind Technology's total market capitalization, combining A-shares and H-shares, is approximately 103.6 billion yuan [2]. - The company has maintained its position as the top domestic wind turbine installer for 14 consecutive years and has been the global leader for three years [4]. - In the first half of 2025, Goldwind's gross profit margin abroad reached nearly 19%, compared to less than 14% domestically, indicating higher profitability in European markets [8]. Group 2: Industry Context - Wind energy is projected to be 53% cheaper than coal and oil by the end of 2024, making it a crucial component of energy transition strategies [4]. - China dominates the global wind turbine market, producing over two-thirds of the world's turbines, and is expected to see a nearly 50% increase in wind turbine exports by 2025, with exports to the EU rising by over 60% [4]. - The EU aims for renewable energy to account for 45% of its energy mix by 2030, relying heavily on Chinese equipment to achieve this goal [4]. Group 3: Market Reactions and Implications - The EU's investigation is perceived as a discriminatory measure that could harm its own image and deter Chinese investment in Europe [2]. - European companies, particularly Siemens, have expressed concerns about competition from Chinese firms, claiming that without intervention, the European wind sector may follow the path of the solar industry [6]. - The article suggests that if the EU continues to use unfair practices against Chinese companies, it could hinder its own energy transition efforts and violate free trade principles [10]. Group 4: Strategic Recommendations - Chinese companies are advised to adapt by localizing operations in Europe, such as establishing factories and forming joint ventures with local firms, to mitigate risks associated with political tensions [10]. - Despite the current challenges, the article reassures investors that companies with core technologies, like Goldwind, are unlikely to be significantly impacted by investigations [10].