碳中和领域动态追踪（一百四十九）：帆石一风机中标结果公示，国内海风建设持续加速

Investment Rating - The report maintains a "Buy" rating for the industry, indicating an expected investment return exceeding 15% over the next 6-12 months [4][7]. Core Insights - The procurement results for the Fan Stone I offshore wind project indicate a significant acceleration in domestic offshore wind construction, with key projects overcoming previous regulatory hurdles [3]. - The average winning bid price for the Fan Stone I wind turbine procurement has increased significantly, suggesting a potential recovery in wind turbine pricing, which could catalyze the wind power market [3]. - The approval process for offshore wind projects in China is speeding up, with many nearshore projects expected to commence construction and grid connection by 2025 and 2026, indicating a positive outlook for the offshore wind sector [3]. Summary by Sections Industry Overview - The report highlights the recent public announcement of procurement results for the Fan Stone I offshore wind project, marking a critical advancement after a two-year hiatus [3]. - The report notes that the average winning bid price for the turbines is 4014 CNY/kW, a significant increase from the previous average of 2687 CNY/kW for the Fan Stone II project [3]. Market Dynamics - The report emphasizes that the competitive landscape among wind turbine manufacturers has led to price wars, but the leading companies are expected to stabilize and improve profitability as prices rise [4]. - The report suggests that the market remains optimistic about the growth potential of offshore wind projects, driven by regulatory progress and policy expectations [4]. Investment Recommendations - The report recommends focusing on leading wind turbine manufacturers such as Mingyang Smart Energy, Yunda Co., and Goldwind Technology, as their profitability is expected to improve with rising prices [4]. - It also advises monitoring the construction progress of offshore wind projects and suggests investing in stable cable companies like Orient Cable [4]. - The report anticipates a strong demand for wind power in 2025, recommending attention to companies involved in large-scale components like Jinlei Co., Riyue Co., and China National Materials [4].