Core Viewpoint - Hengrun Co., Ltd. has reported significant growth in its performance for the first three quarters of 2025, driven by its dual focus on wind power components and high-end computing equipment [1][2]. Group 1: Company Performance - The company achieved an operating revenue of 3.126 billion yuan, representing a substantial year-on-year increase of 193.53% [1]. - Hengrun Co., Ltd. turned a profit with a net profit of 64.31 million yuan, marking a turnaround from previous losses [1]. Group 2: Business Strategy - The company adheres to a "wind power + computing" dual-driven development strategy, actively participating in the localization of high-end wind power components and the construction of national computing infrastructure [1][3]. - Hengrun is one of the few manufacturers globally capable of producing tower flanges for offshore wind turbines of 12MW and above, indicating its strong position in the market [1]. Group 3: Industry Context - The wind power industry has seen a significant increase in installed capacity in 2025, with both offshore and onshore projects showing upward trends in the third quarter [2]. - The overall recovery in the wind power sector is expected to improve profitability across the supply chain, benefiting leading companies like Hengrun [2]. Group 4: Computing Business Growth - Hengrun's computing business has emerged as a second growth curve, with its subsidiary Shanghai Runliuch focusing on intelligent computing services, including the sale of new intelligent servers and the construction of computing centers [2][3]. - The rapid growth of the computing business is attributed to the booming digital economy in China, with increasing demand for computing power driven by initiatives like "East Data West Computing" and the implementation of "Artificial Intelligence +" actions [3]. Group 5: Future Outlook - The synergy between Hengrun's wind power and computing sectors is expected to create a virtuous growth cycle, leading to sustained and healthy growth in overall business performance [3].

Core Viewpoint - Hengrun Co., Ltd. reported a significant improvement in its performance for the first half of 2025, driven by the recovery in the wind power industry and the continuous growth of its computing power business, showcasing the effectiveness of its "wind power + computing power" dual-drive strategy [1] Group 1: Wind Power Business Performance - The global wind power industry continued to show resilience, with strong demand for high-specification components, leading to a robust recovery in Hengrun's wind power segment [2] - The company's wind power orders and sales gross profit increased simultaneously, with its subsidiaries achieving higher capacity utilization, effectively reducing unit production costs [2] - Hengrun's high-value products, such as large megawatt flanges and main shaft bearings, have begun mass production, contributing to improved profitability [2] - Hengrun is one of the few companies capable of manufacturing offshore wind turbine flanges of 12MW and above, solidifying its competitive advantage in high-end wind power components [2] - The company plans to invest 1.2 billion yuan in a new project to produce wind power gearbox components, enhancing its core product matrix and supporting long-term development [3] - The global wind energy council predicts that the global wind power installed capacity will reach 138GW in 2025, with an annual growth rate of 8.8% from 2025 to 2030, indicating a growing demand for high-precision wind power components [3] Group 2: Computing Power Business Development - Hengrun's computing power business has emerged as a second growth curve, with its subsidiary Shanghai Runliuchu Technology Co., Ltd. showing improved performance and contributing significantly to profits [4] - Shanghai Runliuchu focuses on the intelligent computing industry, including the sale of new intelligent computing servers and the construction and operation of computing centers, with rapid business growth [4] - The demand for computing power is increasing exponentially due to the deepening of China's digital economy strategy and the implementation of initiatives like "East Data West Computing" [4][5] - The company aims to accelerate its response to national policies supporting the digital economy and deepen strategic cooperation with major computing server manufacturers [5] Group 3: Future Outlook - With the acceleration of global energy transition and the deepening of the digital economy, Hengrun's two business segments are expected to form a synergistic growth pattern, driving sustainable and healthy growth in overall performance [6]