风电行业周报（20250421-20250425）：周内陆风招标5.8GW，海风中标1GW-20250428

Investment Rating - The report maintains a "Recommended" investment rating for the wind power industry, expecting the industry index to outperform the benchmark index by more than 5% in the next 3-6 months [6][35]. Core Insights - The report highlights significant bidding activity in the wind power sector, with 5.8GW of onshore wind turbines bid this week, contributing to a total of 31.3GW bid so far in 2025, with offshore and onshore projects accounting for 3.1GW and 28.2GW respectively [12][20]. - The report notes that the average winning bid price for onshore wind turbines is 1373 CNY/kW, while for offshore wind turbines it is 2626 CNY/kW, indicating competitive pricing in the market [16][20]. - The report emphasizes three main investment themes in the wind power sector: high domestic offshore wind project reserves, robust onshore wind bidding activity, and regional growth in overseas installations [20]. Summary by Sections Wind Turbine Data - This week saw a total of 5.8GW of onshore wind turbine bids, with major contributions from various companies [12]. - Year-to-date, a total of 31.3GW has been bid, with offshore projects at 3.1GW and onshore at 28.2GW [12]. Offshore Wind Progress - As of April 25, 2025, there are 30GW of offshore wind projects in various stages, including competitive bidding, approval, and construction [17]. - The report highlights that Guangdong, Shandong, and Fujian have the highest number of existing projects, with 30GW, 16GW, and 13GW respectively [17]. Investment Recommendations - The report suggests focusing on three investment lines: high reserves of domestic offshore wind projects, increased bidding activity for onshore wind, and growth in overseas installations [20]. - Companies to watch include Mingyang Smart Energy, Dongfang Cable, Zhongtian Technology, and others [20].