风电行业周报：江门川岛一、二海上风电集中送出工程项目获核准

Investment Rating - The report maintains an "Accumulate" rating for the electric power equipment industry [7]. Core Viewpoints - The offshore wind power sector is accelerating its construction pace, with significant projects receiving approval and equipment procurement announcements [4][5]. - Wind power installations in China have seen substantial growth, with a 22.76% year-on-year increase in new installations from January to October 2024 [5][40]. - The report highlights the importance of monitoring raw material prices, which have shown slight increases, impacting overall project costs [57]. Summary by Sections 1. Market Performance Review - The electric power equipment sector experienced a decline of 1.73% in the week of December 9-13, 2024, ranking 30th among 31 sectors [5][23]. - The wind power equipment sub-sector saw a decrease of 0.71% during the same period, with a year-to-date increase of 0.53% [19][23]. 2. Wind Power Industry Tracking 2.1 Wind Power Installation Data - In the first ten months of 2024, China added 45.80 GW of wind power capacity, marking a 22.76% increase year-on-year [5][40]. - October 2024 alone saw an impressive addition of 6.68 GW, a 74.41% increase compared to the same month last year [5][40]. 2.2 Wind Power Approval Data - A total of 89.39 GW of wind power projects were approved in China from January to November 2024, including 73.49 GW of onshore projects and 14.89 GW of offshore projects [48]. 2.3 Wind Turbine Bidding Data - In the week of December 9-13, 2024, 20 wind power projects initiated bidding, totaling 2637.25 MW [50]. - The average winning bid for offshore wind projects was reported at 3240 CNY/kW [5][72]. 2.4 Raw Material Price Tracking - The average price of medium and heavy plates was 3711.80 CNY/ton, reflecting a slight increase of 0.39% week-on-week [57]. - The average price of scrap steel was 2218.00 CNY/ton, also showing a minor increase of 0.45% [57]. 3. Investment Recommendations - The report suggests focusing on companies benefiting from the growing offshore wind demand, such as Dongfang Cable and Tienshun Wind Energy [5][72]. - Companies with strong overseas market expansion capabilities, like Dajin Heavy Industry and Taisen Wind Energy, are also highlighted [5][72]. - Wind turbine manufacturers showing recovery in profitability, such as Mingyang Smart Energy and Goldwind Technology, are recommended for investment [5][72].