1月24日，中国可再生能源学会风能专业委员会秘书长秦海岩在2026年中国风能新春茶话会上预测， 2026年中国风电新增装机容量约为1.2亿千瓦(120GW)。秦海岩还表示，算力与绿色电力融合是大势所 趋，数据中心未来用电需求巨大。2025年中国数据中心数量超过900万架，到2030年中国数据中心数量 将超过3300万架，未来5年新增年用电量超过3800亿千瓦时，需要175GW风电装机的发电量。 德力佳：海上大兆瓦齿轮箱业务正处于加速放量的阶段，公司已实现8.5MW至18MW海上大兆瓦齿轮箱 的批量交付，产品在实际运行中表现稳定。 *免责声明：文章内容仅供参考，不构成投资建议 *风险提示：股市有风险，入市需谨慎 国盛证券认为，2026-2027年风电需求有望持续高增。风电出力曲线与负荷需求匹配度较高、市场化竞 争电价波动性小，"十五五"风电在新能源装机占比有望从25%提升至50%。预计"十五五"风电增量重点 向海发展，海风规划有望加速。 公司方面，据上证报表示， 大金重工：公司是海上风电基础结构及塔筒解决方案领域的全球领先企业,预计2025年归母净利润10.5亿 至12亿，同比增长121.58%至153.23% ...

Core Viewpoint - Daikin Heavy Industries has achieved significant growth in overseas expansion, with impressive financial results in Q1 2025, indicating a strong position in the offshore wind market [2][3]. Financial Performance - In Q1 2025, Daikin Heavy Industries reported revenue of 1.14 billion yuan, a year-on-year increase of 146.36% [2]. - The net profit attributable to shareholders reached 231 million yuan, up 335.91% year-on-year, while the net profit excluding non-recurring items was 246 million yuan, reflecting a 448.47% increase [2]. - The company's gross margin and net margin for Q1 2025 were 30.95% and 20.25%, respectively, both reaching record highs [3]. Export and Market Position - The company experienced a significant increase in the shipment volume of offshore engineering products, achieving the highest level for the same period in history [3]. - Daikin Heavy Industries has been actively expanding its overseas market share since entering the European offshore wind market in 2019, positioning itself among the top tier of global wind power equipment manufacturers [3]. Yearly Overview - In 2024, Daikin Heavy Industries reported total revenue of 3.78 billion yuan, a decrease of 12.61% year-on-year, while net profit and net profit excluding non-recurring items were 474 million yuan and 433 million yuan, showing increases of 11.46% and 17.7%, respectively [4]. - The company's gross margin and net margin for 2024 were 29.83% and 12.54%, with year-on-year increases of 6.59 and 2.71 percentage points [4]. Domestic vs. Export Business - In 2024, the domestic business segment generated revenue of 2.047 billion yuan, down 21.6%, while export revenue was 1.733 billion yuan, up 1.07% [4]. - The proportion of domestic revenue decreased from 60.36% to 54.15%, while export revenue's share increased from 39.64% to 45.85% [4]. Cash Flow and Assets - The gross margins for domestic and export businesses were 22.5% and 38.48%, respectively, with year-on-year increases of 1.85 and 11.28 percentage points [5]. - Operating cash flow for 2024 was 1.083 billion yuan, a year-on-year increase of 33.97% [5]. - As of the end of Q1 2025, total assets reached 12.746 billion yuan, a 10.24% increase from the previous year, while equity attributable to shareholders was 7.503 billion yuan, up 3.17% [5].