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风电行业周报：福建2.4GW海风竞配结果公示，江苏启动7.65GW海风竞配
Yong Xing Zheng Quan·2024-12-25 00:53

Investment Rating - The report maintains an "Overweight" rating for the electric power equipment industry [9]. Core Viewpoints - The report highlights the growth potential of offshore wind power, with various provinces initiating competitive allocation for offshore wind projects, indicating a positive outlook for the sector [9][68]. - It suggests focusing on companies benefiting from the demand for offshore wind power, those expanding into overseas markets, and wind turbine manufacturers with recovering profitability [4][69]. Summary by Sections 1. Market Performance Review - The electric power equipment sector experienced a decline of 2.25% from December 16 to December 20, 2024, ranking 7th among 31 sectors [18]. - Year-to-date, the sector has seen a growth of 2.56%, ranking 25th among the same sectors [20]. - The wind power equipment sub-sector declined by 4.59% during the same week and has a year-to-date decline of 4.27% [20][21]. 2. Wind Power Installation Data - In the first 11 months of 2024, China added 51.75 GW of new wind power installations, a year-on-year increase of 25.03% [38]. - In November 2024 alone, 5.95 GW of new installations were added, marking a 45.83% year-on-year increase [38]. 3. 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 [44]. 4. Wind Power Equipment Bidding Data - Six wind power projects initiated bidding this week, totaling 735 MW [46]. - The average winning bid for onshore wind projects (including towers) was 1900 CNY/kW, while for projects excluding towers, it was 1600 CNY/kW [58]. 5. Investment Recommendations - The report recommends focusing on companies that will benefit from the offshore wind demand, such as Dongfang Cable, Haili Wind Power, and Qifan Cable [4][69]. - It also highlights companies with strong overseas market expansion capabilities, such as Dajin Heavy Industry and Taisheng Wind Power [4][69]. - Wind turbine manufacturers with recovering profitability, including Mingyang Smart Energy and Goldwind Technology, are also recommended [4][69].