Investment Rating - The report rates the wind power industry as "Overweight" indicating a positive outlook for the sector [3][10]. Core Insights - Wind turbine bidding prices are on the rise, with the average bidding price for wind turbine units reaching 1,616 RMB/kW in June 2025, a year-on-year increase of approximately 10.3%, which is expected to significantly enhance profit margins for manufacturers [3]. - The anticipated growth in offshore wind capacity, projected to reach 8.7 GW in 2026 (a year-on-year increase of 107%), is expected to drive a valuation shift in the sector, particularly as market expectations for profit elasticity in turbine manufacturing strengthen [3]. - Key investment recommendations include focusing on companies benefiting from price increases and strong profit elasticity, such as Goldwind Technology, Yunda Co., Sany Heavy Energy, and Dongfang Cable, as well as companies with scarce capacity and significant growth potential like Jinlei Co. and Haili Wind Power [3]. Summary by Sections Wind Power Equipment - The wind power equipment sector is experiencing a recovery phase with increasing bidding prices and profit potential [3]. - The establishment of industry self-regulation mechanisms is contributing to the positive price trend [3]. Market Expectations - The report highlights the synchronization of domestic and global offshore wind expectations, which is likely to enhance market sentiment and valuation for the sector [3]. - The report anticipates that the upcoming quarterly disclosures will further bolster market expectations regarding profit elasticity [3]. Key Companies - The report identifies several key companies for investment consideration, including: - Goldwind Technology - Yunda Co. - Sany Heavy Energy - Dongfang Cable - Jinlei Co. - Haili Wind Power - Other notable mentions include Dajin Heavy Industry, Zhongtian Technology, and Guoda Special Materials [3].

Group 1 - The company Hengrun Co., Ltd. announced a significant reduction in shareholding by major shareholders, with a total of 8,214,663 shares being sold between August 4 and September 26, 2025 [1] - The revenue composition for Hengrun Co., Ltd. in 2024 is as follows: wind power tower flanges account for 37.26%, wind power bearings 16.43%, other businesses 13.34%, computing industry 11.45%, mechanical industry support 11.22%, and other industries 10.27% [1] Group 2 - The current market capitalization of Hengrun Co., Ltd. is 7.6 billion yuan [2]

Core Viewpoint - Jixin Technology (601218) experienced a trading halt today with a daily turnover rate of 17.50% and a transaction volume of 1.047 billion yuan, indicating strong market interest and activity [2] Trading Activity - The stock was listed on the Shanghai Stock Exchange's "Dragon and Tiger List" due to a price deviation of 9.15%, with a net buying amount of 113 million yuan from brokerage seats [2] - The top five brokerage seats accounted for a total transaction volume of 283 million yuan, with a buying amount of 198 million yuan and a selling amount of 85.125 million yuan, resulting in a net buying of 113 million yuan [2] - The largest buying brokerage was Guolian Minsheng Securities, which purchased 109 million yuan, while the largest selling brokerage was Guotai Junan Securities, which sold 26.206 million yuan [2][3] Fund Flow - The stock saw a net inflow of 16.2293 million yuan from major funds today, with a significant inflow of 122 million yuan from large orders, while large orders saw a net outflow of 106 million yuan [3] - Over the past five days, the stock has experienced a net inflow of 282 million yuan [3] Margin Trading Data - As of September 26, the margin trading balance for the stock was 230 million yuan, with a financing balance of 230 million yuan and a securities lending balance of 53,300 yuan [3] - Over the past five days, the financing balance decreased by 39.3028 million yuan, a decline of 14.60%, while the securities lending balance increased by 0.0094 million yuan, an increase of 21.45% [3] Financial Performance - According to the semi-annual report released on August 29, the company achieved an operating income of 715 million yuan in the first half of the year, representing a year-on-year growth of 23.20%, and a net profit of 81.5617 million yuan, reflecting a year-on-year increase of 143.18% [3]

Market Performance - The wind power equipment sector increased by 1.35% on September 29, with Jixin Technology leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Top Gainers in Wind Power Equipment - Jixin Technology (601218) closed at 6.24, up 10.05% with a trading volume of 1.6958 million shares and a transaction value of 1.047 billion [1] - Weili Transmission (300904) closed at 85.80, up 8.24% with a trading volume of 69,600 shares and a transaction value of 599 million [1] - Haili Wind Power (301155) closed at 98.38, up 5.92% with a trading volume of 59,600 shares and a transaction value of 568 million [1] Other Notable Performers - Mingyang Smart Energy (601615) closed at 16.19, up 4.25% with a trading volume of 1.7145 million shares and a transaction value of 2.735 billion [1] - New Strong Union (300850) closed at 42.40, up 4.10% with a trading volume of 365,400 shares and a transaction value of 1.536 billion [1] Decliners in Wind Power Equipment - Tianneng Heavy Industry (300569) closed at 6.42, down 3.89% with a trading volume of 977,100 shares and a transaction value of 632 million [2] - Electric Wind Power (688660) closed at 22.66, down 3.00% with a trading volume of 484,900 shares and a transaction value of 1.117 billion [2] Capital Flow Analysis - The wind power equipment sector experienced a net outflow of 560 million from main funds, while retail investors saw a net inflow of 498 million [2] - The sector's overall capital flow indicates a mixed sentiment among institutional and retail investors [2] Individual Stock Capital Flow - Hewa Electric (603063) had a main fund net inflow of 70.41 million, while retail investors had a net outflow of 18.48 million [3] - Zhenjiang Co. (603507) saw a main fund net inflow of 57.84 million, with a significant retail outflow of 46.41 million [3]

Core Viewpoint - Haili Wind Power has seen a significant stock price increase of 5.37% on September 29, reaching 97.87 CNY per share, with a total market capitalization of 21.276 billion CNY, indicating a cumulative increase of 6.45% over the past four days [1] Company Overview - Jiangsu Haili Wind Power Equipment Technology Co., Ltd. was established on August 18, 2009, and listed on November 24, 2021. The company specializes in the research, production, and sales of wind power equipment components, agricultural machinery, port machinery, and environmental protection machinery [1] - The main revenue composition of the company includes: 77.04% from foundations, 14.38% from wind power towers, 6.72% from guide frames, and 1.85% from other sources [1] Fund Holdings - According to data, one fund under ICBC Credit Suisse holds Haili Wind Power as a significant position. The ICBC Lingdong Value Mixed A Fund (010744) held 161,900 shares in the second quarter, accounting for 2.13% of the fund's net value, ranking as the eighth largest holding [2] - The fund has generated a floating profit of approximately 807,900 CNY today and 911,500 CNY during the four-day increase [2] - The ICBC Lingdong Value Mixed A Fund was established on December 25, 2020, with a current size of 498 million CNY and a year-to-date return of 20.4%, ranking 4365 out of 8244 in its category [2]

Market Overview - The A-share market is experiencing short-term fluctuations as the National Day holiday approaches, with a cautious sentiment among investors leading to profit-taking and adjustments in positions [1][2][16] - The technology sector has shown signs of a temporary pullback, while financial and consumer sectors demonstrate resilience, indicating a short-term style switch in the market [1][2][16] Short-term Strategy - For short-term investors, it is advisable to take profits on stocks that have seen significant gains recently to mitigate holding risks [2][16] - Long-term investors should remain patient with quality companies that have solid fundamentals and clear industry prospects, particularly in the technology sector [2][16] Sector Analysis Technology Sector - The technology sector, particularly AI, semiconductors, and robotics, is highlighted as a long-term investment opportunity, especially during the current market correction [2][16] - The semiconductor industry is expected to continue its upward trajectory, supported by national policies and increasing global demand for AI and high-performance computing [10] New Energy Sector - The new energy sector remains a focus for investors, with leading companies expected to benefit from both valuation recovery and performance growth [3][9][17] - The demand for lithium batteries, photovoltaics, and wind energy is projected to persist as global efforts to achieve carbon neutrality continue [9][17] Real Estate Sector - The real estate sector is showing signs of recovery, with new policies in major cities aimed at boosting market demand and improving the financial health of real estate companies [11] - Investors are encouraged to look for opportunities in quality companies with strong land reserves and stable growth prospects [11] Precious Metals - The precious metals sector has seen price increases driven by expectations of interest rate cuts and rising geopolitical tensions, making gold an attractive investment [12][13] Gaming Sector - The gaming sector has experienced volatility, with recent advancements in AI technology providing growth opportunities in content production and interactive entertainment [14] Banking Sector - The banking sector is stabilizing, with high dividend yield stocks continuing to attract investor interest, particularly in a low-interest-rate environment [15]

Market Overview - On September 26, the market continued its recent trend of low-volume consolidation, with the Shanghai Composite Index down 0.65%, the Shenzhen Component down 1.76%, and the ChiNext Index down 2.60%[3] - Since reaching a new high of 3899 on September 18, the market has been consolidating around the 5-day moving average, indicating a potential choice of direction ahead[1] Sector Performance - The sectors that saw the most significant inflows on September 26 were passenger cars, auto parts, and wind power equipment, while the largest outflows were from consumer electronics, IT services, and communication equipment[4] - The shipbuilding industry, which has experienced a significant pullback, is highlighted as a potential short-term rebound opportunity[1] Economic Indicators - The petrochemical industry is projected to achieve an average annual growth of over 5% in value added from 2025 to 2026, as per a plan issued by seven government departments[5] - China's digital service trade reached 1.5 trillion yuan in the first half of 2025, marking a year-on-year growth of 6%[9] Fund Dynamics - The stock private equity position index reached a year-to-date high of 78.41%, reflecting a 0.37 percentage point increase from the previous week, indicating a growing optimism among private equity firms[12] - A new private equity fund with a total scale of 20 billion yuan was established in Qingdao, marking a significant development in the insurance private equity sector[11]

南方财经9月29日电，风电设备板块反复活跃，吉鑫科技3连板，威力传动涨超10%，通裕重工、金风科 技、明阳智能、新强联、泰胜风能跟涨。 ...

风电设备板块反复活跃，吉鑫科技3连板，威力传动涨超10%，通裕重工、金风科技、明阳智能、新强 联、泰胜风能跟涨。 ...

Market Overview - The A-share market is currently experiencing cautious trading, with the Shanghai Composite Index fluctuating between 3800 and 3850 points, indicating a critical support level at 3800 points where significant northbound capital has accumulated [3] - The market is expected to see increased volatility due to the A50 options expiration, which historically averages a decline of 1.8% on this day, as foreign capital often adjusts their positions [3] Capital Movement - Major funds are actively investing in the technology sector, particularly in semiconductors and AI computing, with over 13 billion yuan invested in these areas in just one week [3] - The financing balance has surged by 50.7 billion yuan in the four days leading up to the holiday, reminiscent of the market conditions prior to the 2023 technology rally [3] Sector Performance - The technology growth stocks, especially in semiconductors and AI, have seen significant gains, with the STAR 50 Index rising by 6.47% in a week [4] - Conversely, consumer and tourism sectors are underperforming as investors adopt a risk-averse stance ahead of the holiday [4] Investment Strategy - It is advised to maintain a cautious position with no more than 50% total holdings before the holiday, and to consider accumulating positions in technology stocks that have strong fundamentals [4][5] - Focus should be on sectors benefiting from policy support, such as new energy and storage, which are expected to emerge as potential growth stocks in the fourth quarter [4][5] - Post-holiday, attention should be directed towards hard technology leaders with expected earnings growth, especially if trading volume exceeds 2.3 trillion yuan [5]