风电行业周报（20260202-20260206）：本周风电设备（申万）指数表现

Investment Rating - The report maintains a "Positive" outlook for the wind power industry, expecting the industry index to outperform the market index by over 5% in the next six months [8]. Core Insights - The wind power industry is experiencing a recovery in profitability and an optimization of its structure, driven by stabilizing wind turbine prices, accelerated onshore wind installations, and favorable offshore wind policies. Long-term benefits are anticipated from breakthroughs in deep-sea technology and global expansion [3]. - The first quarter of 2025 saw a public tender capacity for wind power units in China reach 28.6 GW, representing a year-on-year increase of 22.7%. The average bidding price for 3MW wind turbines was 1610 RMB/KW, up 9.2% year-on-year [20]. Summary by Sections 1. Weekly Market Review - During the week of February 2 to February 6, 2026, the Shanghai Composite Index decreased by 1.13%, while the power equipment index increased by 2.20%, outperforming the index by 3.53 percentage points. The wind power equipment index fell by 0.88% [13][14]. - Notable performers in the wind power equipment sector included companies like Zhenjiang Co., Zhonghuan Hailu, and Tiensun Wind Energy, while companies such as Times New Material and Yunda Co. experienced significant declines [17] 2. Raw Material Prices - The report notes fluctuations in raw material prices, with iron ore futures closing at 760.5 RMB/ton, down 31 RMB/ton. The prices for casting pig iron and medium-thick plates remained stable, while copper and aluminum prices saw declines of 4.0% and 2.1%, respectively [23]. 3. Company and Industry Events - The Shaanxi province has initiated a 2.45 GW wind and solar application, with individual projects not exceeding 50 MW, targeting high-energy-consuming industries such as electrolytic aluminum and steel [31]. - Guangdong province is pushing for the development of offshore wind power, promoting large-scale projects and the application of new technologies [34]. - The Fujian province has approved a 300 MW offshore wind project, with a total investment of 4.053 billion RMB, indicating ongoing growth in the sector [36].