海上风电专题研究：国内外海风需求共振，看好国内厂商出海机会

Investment Rating - The report suggests a positive outlook for the offshore wind industry, indicating a potential high growth in installed capacity by 2025 [6][37]. Core Insights - The domestic offshore wind development is at a turning point, with accelerated bidding and construction processes [6]. - Rapid growth in overseas offshore wind, particularly in Europe, is highlighted as a key area for future development [6][14]. - The demand for offshore wind energy is expected to increase significantly, with a forecasted high growth in installed capacity by 2025 [6][37]. - Wind turbine prices have bottomed out and are expected to recover, leading to an acceleration in gross margin recovery [6][20]. - The report emphasizes the advantages of domestic companies in the offshore wind supply chain, particularly in cable and foundation production [6][28]. Summary by Sections 1. Domestic and International Offshore Wind Resonance - Domestic offshore wind development is accelerating with faster bidding and construction processes [6]. - Internationally, Europe is identified as a key region for future offshore wind growth, with significant budget allocations for projects [14][15]. 2. Wind Turbine Prices and Profit Margins - The industry is experiencing a recovery in wind turbine prices due to self-regulation and optimized bidding processes [20]. - The decline in raw material prices, particularly steel, is expected to lower offshore wind system costs [20]. 3. Offshore Cable and Foundation Production - There is a limited high-end capacity for offshore cables overseas, which presents opportunities for leading domestic companies [28]. - A supply-demand gap for offshore foundations is anticipated, with domestic companies having a cost advantage [28][36]. 4. Investment Recommendations - The report recommends focusing on specific companies: Goldwind Technology and Mingyang Smart Energy for wind turbines; Oriental Cable for cables; and Dajin Heavy Industry and Haili Wind Power for foundations [37].