风电行业周报：8月风电装机增速稳健，海风项目建设持续推进

Investment Rating - The industry investment rating is maintained as "Overweight" [1]. Core Viewpoints - The construction of offshore wind projects is accelerating, driven by government policies aimed at promoting non-fossil energy sources. By 2030, the share of non-fossil energy consumption is expected to reach around 25% [1][30]. - As of the end of August 2024, the cumulative installed power generation capacity in China reached approximately 3.13 billion kilowatts, with wind power capacity at about 470 million kilowatts, reflecting a year-on-year growth of 14.0% and 19.9% respectively [1][16]. - The bidding situation for wind power projects shows a total of 1,912.7 MW of wind power units were tendered this week, with the average winning bid price for land-based wind power including towers at 1,798 yuan/kW [1][23]. Summary by Sections 1. Wind Power Sector Market Review - The power equipment sector saw a weekly increase of 14.46%, ranking 11th among 31 sectors. The wind power equipment sector increased by 14.42% [8]. - Key stocks in the wind power equipment sector, such as Xinqianglian and Hengrui, saw significant gains, with increases of 21.89% and 20.62% respectively [8]. 2. Wind Power Industry Chain Tracking 2.1 Installed Capacity Data - By the end of August 2024, the total installed wind power capacity in China was approximately 470 million kilowatts, with a year-on-year increase of 19.9% [16]. - In the first eight months of 2024, new wind power installations totaled 33.61 GW, an increase of 4.69 GW compared to the same period in 2023 [16]. 2.2 Wind Power Unit Bidding Data - This week, 1,912.7 MW of wind power units were tendered, including 19 land-based and 2 offshore projects. The average winning bid price for land-based wind power was 1,798 yuan/kW [21][23]. 2.3 Upstream Raw Material Price Tracking - The average price of medium and thick plates was 3,441.33 yuan/ton, up 2.82% from the previous week. Prices for ductile iron, cast iron, and scrap steel also saw slight increases [25]. 3. Investment Recommendations - The report suggests focusing on three main lines of investment: 1. Growth stocks benefiting from offshore wind demand, such as Dongfang Cable and Haili Wind Power [1][30]. 2. Companies with strong overseas market capabilities, like Daikin Heavy Industries and Taisheng Wind Power [1][30]. 3. Main machine stocks with stabilizing profitability, including Goldwind Technology and Mingyang Smart Energy [1][30].