Investment Rating - The report maintains a "Recommend" rating for the wind power industry, indicating an expectation of growth exceeding the benchmark index by more than 5% in the next 3-6 months [3][35]. Core Insights - The report highlights significant developments in offshore wind projects, with Guangdong's offshore wind project winning a bid of 0.8GW at an average price of 2506 CNY/kW [1][9]. - The total bidding for wind power in 2025 has reached 43.2GW, with offshore and onshore projects accounting for 3.6GW and 39.7GW respectively [9][11]. - The report emphasizes three main investment themes: high domestic offshore wind project reserves, robust onshore wind bidding in 2024, and regional growth in overseas installations [18][21]. Summary by Sections Industry Basic Data - The industry comprises 301 listed companies with a total market capitalization of 49,118.76 billion CNY and a circulating market value of 42,780.41 billion CNY [4]. Company Profit Forecasts and Valuations - Key companies and their investment ratings include: - Dongfang Cable: EPS forecast of 2.29 CNY for 2025, PE of 21.21, rated "Recommend" [3]. - Zhongtian Technology: EPS forecast of 1.04 CNY for 2025, PE of 13.00, rated "Recommend" [3]. - Mingyang Smart Energy: EPS forecast of 0.71 CNY for 2025, PE of 15.01, rated "Strong Recommend" [3]. - Times New Material: EPS forecast of 0.92 CNY for 2025, PE of 13.65, rated "Recommend" [3]. Wind Power Bidding Data - The report details the bidding activity for wind power, with 4.2GW awarded this week, including 0.8GW offshore and 3.4GW onshore [11][14]. - The average bidding price for offshore wind was 2506 CNY/kW, while onshore wind averaged 1552 CNY/kW [14]. Investment Recommendations - The report suggests focusing on companies involved in offshore wind projects, onshore wind manufacturing, and those expanding into international markets [18][21].
风电行业周报（20250616-20250622）：周内广东海风中标0.8GW，均价为2506元/kW-20250623
Huachuang Securities·2025-06-23 02:23