证券代码：000035 证券简称：中国天楹 答：首先，公司具备显著的先发优势。在国家双碳战略有序推进、 能耗双控逐步转向碳排放双控的大背景下，公司较早地以前瞻性视野 布局氢基能源产业，成为国内该领域的第一梯队成员。这一远见使公 司率先把握了行业发展的战略机遇，并通过多年积累的环保项目经验、 成熟的研发制造体系及稳健的现金流，为快速切入和引领氢能新赛道 奠定了坚实基础。 其次，公司在核心技术工艺上构建了差异化的竞争壁垒。公司项 目采用成熟的碱性电解水 ALK 四拖一制氢工艺，融合柔性化工合成设 计理念，耦合多元生物质制碳的绿醇绿烷工艺，同时匹配"荷随源动" 与"源随荷动"智慧能源管理系统。总体上兼顾工艺成熟度与技术创新 性，确保新能源直供模式下系统稳定运行，从源头保障氢基产品的绿 色属性。 氢基能源核心产品--绿色甲醇聚焦绿电制氢耦合 CO2 捕集路线， 新型催化剂优化与 AI 智能化综合能源调控技术突破，实现二氧化碳转 化率超 98%，核心装备与系统集成水平达国际先进。为氢基能源产品 的规模化、低成本生产奠定了坚实的技术基础。 最后，公司具备的资源优势体现在项目落地与全产业链闭环能力 上。公司已成功在吉林辽源 ...

该等合同聚焦规模化氢醇生产系统的整体交付与实施，通过构建"氢醇工艺融合+核心装备自研+辅控协 同智管"三位一体解决方案，实现从风电制氢及绿色甲醇合成系统核心装备研发制造、系统集成、氢醇 储运一体化服务的全流程覆盖，彰显公司在氢基能源领域"全链条覆盖、一体化服务"的综合服务能力。 格隆汇12月19日丨华电科工(601226.SH)公布,近日，公司及控股子公司河南华电金源管道有限公司与中 国华电科工集团有限公司就辽宁华电调兵山45 万千瓦风电制氢耦合绿色甲醇一体化示范项目签署了涵 盖制氢、制醇及其储运环节的系列合同，合同总金额约为8.15亿元人民币(含税)。 ...

该等合同聚焦规模化氢醇生产系统的整体交付与实施，通过构建"氢醇工艺融合+核心装备自研+辅控协 同智管"三位一体解决方案，实现从风电制氢及绿色甲醇合成系统核心装备研发制造、系统集成、氢醇 储运一体化服务的全流程覆盖，彰显公司在氢基能源领域"全链条覆盖、一体化服务"的综合服务能力。 智通财经APP讯，华电科工(601226.SH)发布公告，近日，公司及控股子公司河南华电金源管道有限公 司(简称"华电金源")与中国华电科工集团有限公司(简称"华电科工集团")就辽宁华电调兵山45万千瓦风 电制氢耦合绿色甲醇一体化示范项目签署了涵盖制氢、制醇及其储运环节的系列合同，合同总金额约为 8.15亿元(含税)。 ...

该等合同聚焦规模化氢醇生产系统的整体交付与实施，通过构建"氢醇工艺融合+核心装备自研+辅控协 同智管"三位一体解决方案，实现从风电制氢及绿色甲醇合成系统核心装备研发制造、系统集成、氢醇 储运一体化服务的全流程覆盖，彰显公司在氢基能源领域"全链条覆盖、一体化服务"的综合服务能力。 智通财经APP讯，华电科工(601226.SH)发布公告，近日，公司及控股子公司河南华电金源管道有限公 司(简称"华电金源")与中国华电科工集团有限公司(简称"华电科工集团")就辽宁华电调兵山45万千瓦风 电制氢耦合绿色甲醇一体化示范项目签署了涵盖制氢、制醇及其储运环节的系列合同，合同总金额约为 8.15亿元(含税)。 ...

Summary of Wind Power Industry Conference Call Industry Overview - The wind power industry in China is showing strong performance, with domestic bidding data indicating a potential total of 130-140 GW for 2024, possibly reaching 160 GW, which is on par or higher than last year [1][2] - The offshore wind power sector is particularly robust, with bidding volumes around 10 GW, primarily concentrated in Guangdong and Zhejiang [2][13] Key Insights and Arguments - **Bidding Data**: As of December 10, 2024, bidding data is close to 120 GW, with a significant increase in bidding activity in early December, suggesting that the total installed capacity for the year may exceed 103 GW [1][2] - **Wind Turbine Prices**: Wind turbine prices have been on the rise, with average bidding prices reaching 1,857 RMB/kW (excluding towers) for certain projects. The average price for 5-7 MW turbines was over 1,770 RMB, while 10 MW projects averaged 1,280 RMB [4] - **Future Installations**: The expected installed capacity for 2025 is around 120 GW, showing significant growth compared to 2024. The market consensus indicates that total installations will be higher than this year [5][10] - **Component Prices**: There is a low probability of significant price increases for components, although some core components like bearings and gearboxes are experiencing tight demand [6][7] - **Hydrogen and Ammonia Policies**: New policies promoting green fuels, including hydrogen and ammonia, are expected to positively impact the wind power sector, enhancing future installation expectations [12] Additional Important Points - **Offshore Wind Power Trends**: From 2026, more than half of the projects will utilize jacket foundations instead of monopiles, indicating a shift in demand dynamics [14][16] - **European Market Outlook**: The European offshore wind market is optimistic, with several projects entering construction phases and new bidding rounds expected to bring more opportunities for Chinese companies [15][18][19][20] - **Southeast Asia Opportunities**: Countries like the Philippines and Vietnam are initiating offshore wind projects, which could provide significant opportunities for Chinese firms [21] - **Competitive Landscape**: Companies like Goldwind, Haizhuang Wind Power, and Tianjun Wind Power are well-positioned in the foundational pile segment, while smaller firms like Taisheng may also capture market share [22] This summary encapsulates the key points from the conference call regarding the wind power industry, highlighting both current performance and future expectations.

Group 1: Environmental Business Development - The company adheres to a "dual-driven" strategy of "environmental protection + new energy," focusing on three core businesses: waste incineration power generation, urban and rural sanitation services, and environmental equipment manufacturing [2][3] - The Hanoi project in Vietnam has expanded its capacity from 75MW to 90MW, marking it as the largest waste incineration power plant invested by a Chinese company overseas [3] - The company is actively expanding into Southeast Asia and Europe, leveraging its technological advantages to secure more BOT and EPC project orders [3][4] Group 2: International Expansion and Strategic Contracts - The company signed a €56 million contract for a waste incineration power project in Toulouse, France, enhancing its recognition in the European environmental market [3][4] - Collaboration with Suez Group strengthens the company's position in the core equipment sector of waste incineration power generation, supporting its transition to a comprehensive environmental service provider [4] Group 3: Hydrogen Energy Sector Outlook - The company is optimistic about the hydrogen energy sector, supported by strong policies, technology, and market demand [5][6] - It has received a total of ¥280 million in policy-based financial support for its Liao Yuan and An Da projects [5] - The company aims to produce green methanol with a CO2 conversion rate exceeding 98%, utilizing advanced technology and AI for energy management [6] Group 4: Project Plans and Production Capacity - The Liao Yuan project includes 514.8MW of grid-connected wind power and aims to achieve green methanol production capacity by the end of Q2 2026 [7][8] - The company plans to reach an annual production capacity of 200,000 tons of green methanol by 2026, with a long-term goal of increasing this to 1 million tons by 2030 [8]

Core Viewpoint - The company is strategically transitioning to a "dual-wheel drive" model of "environmental protection + new energy," aiming to become a leading international operator in environmental and hydrogen-based energy products [2][4]. Group 1: Business Operations - The company's core business is built on three pillars: waste-to-energy incineration, urban and rural sanitation services, and environmental equipment manufacturing [2]. - The company has developed a full range of new high-efficiency waste incineration power generation equipment, maintaining a leading position in the national market [2]. Group 2: Energy Utilization and Growth - The company has explored an energy cascading utilization model, achieving a steam sales volume of 1.16 million tons from 10 domestic projects by mid-2025, representing a year-on-year increase of 59.6% [3]. - The traditional waste incineration business is viewed as an energy production process, facilitating the transition into the new energy sector [4]. Group 3: International Expansion - The company has expanded its waste incineration power project in Hanoi, Vietnam, increasing its total installed capacity from 75 MW to 90 MW, marking it as one of the largest overseas projects by a Chinese enterprise [5]. - The company has successfully exported waste incineration equipment to multiple countries, including Vietnam, Singapore, India, Maldives, and France [5]. Group 4: New Energy Market Position - The global hydrogen-based energy market is experiencing explosive growth, particularly in sectors like shipping, aviation, and steel, where decarbonization is challenging [6]. - The company plans to achieve an annual production capacity of 200,000 tons of EU-certified methanol by 2026, with a goal to increase this to 1 million tons by 2030 [6]. - The company has obtained ISCC EU certification, allowing its products to meet EU market entry standards, facilitating access to the European market [6].

Core Viewpoint - China Tianying is advancing its "environmental protection + new energy" dual-driven strategy, focusing on both traditional environmental services and emerging hydrogen energy sectors [1][4]. Group 1: Environmental Protection and International Expansion - China Tianying has over 20 years of experience in the environmental sector, with core businesses in waste incineration power generation, urban sanitation services, and environmental equipment manufacturing [2]. - The company is optimizing operational efficiency through refined management and smart operations, which lowers energy costs and enhances operational effectiveness [2]. - The international expansion strategy includes acquisitions like Urbaser in Spain, establishing a global waste management network, and focusing on countries along the Belt and Road Initiative [2][3]. - The company is transitioning from a single project operator to a comprehensive environmental service provider by extending its overseas business into sanitation services [2]. Group 2: Project Achievements and Innovations - In August, the Hanoi Shoushan waste incineration power project in Vietnam increased its total installed capacity from 75MW to 90MW, solidifying the company's leading position in the Vietnamese environmental energy market [3]. - China Tianying is integrating traditional environmental services with new business models, such as combined heat and power, collaborative disposal, and "waste incineration + IDC" [3]. Group 3: Hydrogen Energy Development - The company is accelerating its layout in the hydrogen energy sector, aligning with national strategies and benefiting from strong policy support [4]. - Major projects like the Liao Yuan and An Da are being developed, with Liao Yuan's first phase including 514.8 MW of grid-connected wind power and 443 MW of off-grid wind power [4]. - China Tianying has established a strategic partnership with China Shipbuilding Fuel Co., becoming a global green supply chain partner, and has received ISCC EU certification for its biomass supply chain [5]. Group 4: Future Outlook and Market Position - The company is positioned to benefit from the accelerating decarbonization process in international shipping, with expected explosive growth in demand for hydrogen-based green fuels [5]. - With a comprehensive industrial chain layout and core technological advantages, China Tianying aims to lead the commercialization of hydrogen energy and capture a significant share of the global green energy market [5].

证券日报网12月10日讯中国天楹在12月10日回答调研者提问时表示，政策上，我国已将多种氢基能源 （绿色甲醇等）纳入氢能产业中长期规划与绿色液体燃料目录，明确其为新能源培育重点方向，中央给 予核定总投资20%的资金支持，地方配套土地优惠与新能源指标倾斜，《船用绿色燃料发展路线图》设 定2030年船舶氢基能源占比超15%的硬性目标，多部门协同完善产业链标准，启动绿色液体燃料技术攻 关与产业化试点。技术上，氢基能源核心产品——绿色甲醇聚焦绿电制氢耦合CO捕集路线，新型催化 剂优化与AI智能化综合能源调控技术突破，实现二氧化碳转化率超98%，核心装备与系统集成水平达国 际先进。市场端，国际国内航运领域氢基能源需求因脱碳政策快速增长，化工领域需求日渐显露；欧洲 受FuelEUMaritime法规与碳关税驱动，港口加注需求激增。未来氢基能源将依托风光基地扩产，拓展至 多场景，中国有望成为全球核心生产与消费国。 （文章来源：证券日报） ...

Core Viewpoint - The company is accelerating its entry into the hydrogen energy sector driven by the "dual carbon" goals and supportive policies for new energy systems [2] Group 1: Company Initiatives - The company is investing in green methanol and methane projects in Liao Yuan and An Da, aiming to build a complete industrial chain ecosystem covering "wind and solar power generation - energy storage - hydrogen production - hydrogen-based derivatives" [2] - The Liao Yuan project includes a first phase with 514.8 MW of grid-connected wind power, 443 MW of off-grid wind power, water electrolysis for hydrogen production, biomass waste heat utilization, and a 170,000 tons/year electro-methanol production facility, which is currently in the construction and installation phase [2] - The An Da project’s first phase encompasses 400 MW of grid-connected wind power, 400 MW of off-grid wind power, water electrolysis for hydrogen production, biomass waste heat utilization, and a 170,000 tons/year electro-methanol production facility, with all approvals completed and construction underway for both chemical and wind power components [2]