Investment Rating - The industry investment rating is maintained as "Add" [6] Core Viewpoints - The Ministry of Natural Resources issued a notification on December 30, 2024, to enhance the management of offshore wind power projects, encouraging concentrated and clustered development to optimize the approval process and promote deep-sea wind power development [1][54][55]. Summary by Sections 1. Market Performance Review - The electric equipment sector experienced a decline of 9.02% during the week of December 30, 2024, to January 3, 2025, ranking 24th among 31 Shenwan first-level industries [2][11]. - The wind power equipment sub-sector saw a decrease of 7.59%, leading the declines among sub-sectors [2][14]. 2. Wind Power Installation Data - From January to November 2024, China added 51.75 GW of wind power capacity, a year-on-year increase of 25.03%. In November 2024 alone, 5.95 GW was added, marking a 45.83% year-on-year growth [2][23]. 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 [34]. 4. Wind Turbine Bidding Data - During the week, five wind power projects initiated bidding with a total scale of 221.1 MW. The average winning bid for onshore projects (including towers) was 1,892 CNY/kW, while for offshore projects, it was 2,389 CNY/kW [3][40][44]. 5. Investment Recommendations - Companies to watch include: 1. Beneficiaries of offshore wind power demand and deep-sea project development: Dongfang Cable, Haili Wind Power, Yaxing Anchor Chain, and Qifan Cable [4][56]. 2. Companies with strong order acquisition capabilities expanding into overseas markets: Dajin Heavy Industry, Taisheng Wind Power, and Zhenjiang Co., Ltd. [4][56]. 3. Wind turbine manufacturers expected to see improved profitability: Mingyang Smart Energy, Goldwind Technology, Sany Heavy Energy, and Yunda Co., Ltd. [4][56].
风电行业周报：自然资源部出台用海管理政策，海风建设有望加速
Yong Xing Zheng Quan·2025-01-23 01:36