截至2025年6月30日，大金重工是亚太地区唯一实现向欧洲批量交付单桩的供应商。公司业务已从海上 风电基础装备研发制造延伸至远洋特种运输、船舶设计与建造、风电母港运营等领域，并布局新能源开 发与运营。 大金重工（002487）向香港交易所主板提交上市申请，华泰国际和招商证券国际为其联席保荐人。 根据弗若斯特沙利文报告，按2025年上半年单桩销售金额计算，大金重工是欧洲市场排名第一的海上风 电基础装备供应商，市场份额大幅提升。 公司成立于2000年，2010年在深交所上市，是中国A股首家风电塔桩上市公司。大金重工致力于为全球 大型海上风电开发商提供"建造+运输+交付"一站式解决方案。 2022年至2025年上半年，海外收入占总收入比例从16.4%提升至79.0%，显示"新两海战略"的成功实 施。 欧洲海上风电市场的高壁垒和高附加值是驱动公司盈利能力提升的主要因素，公司已构建全球战略营销 体系。 ...

Core Viewpoint - 大金重工 is a leading supplier of offshore wind power core equipment, focusing on providing comprehensive solutions in the renewable energy sector, with significant growth in overseas markets, particularly in Europe [1] Company Overview - Founded in 2000 and listed on the Shenzhen Stock Exchange in 2010, 大金重工 is the first company in China's A-share market to list wind power tower foundations [1] - As of September 29, the total market capitalization of 大金重工 is 30.153 billion RMB [1] - The company has been deeply involved in the renewable energy industry for nearly two decades, offering a one-stop solution for construction, transportation, and delivery of wind power infrastructure [1] Market Position - According to Frost & Sullivan, by June 30, 2025, 大金重工 will be the only supplier in the Asia-Pacific region capable of delivering single piles in bulk to Europe [1] - The company has expanded its product and service offerings from offshore wind power equipment to include specialized ocean transportation, ship design and construction, and wind power port operations [1] Strategic Developments - In 2023, the company upgraded its "Two Seas Strategy" to a "New Two Seas Strategy" to better meet diverse customer needs [1] - From 2022 to the first half of 2025, the company's overseas business has seen rapid growth, with overseas revenue accounting for a significant portion of total revenue [1] Financial Performance - For the six months ending June 30, 2025, the company achieved operating revenue of 2.841 billion RMB, a year-on-year increase of 109.5%, and a net profit of 546.515 million RMB, up 214.3% [1] - The gross profit margin has improved, with gross profit reaching 800.339 million RMB, representing 28.2% of total revenue for the same period [1] - The company has established a strong international brand reputation in the European offshore wind market, which is a key driver of its profitability [1]

Core Viewpoint - Daikin Heavy Industries has submitted an application for listing on the Hong Kong Stock Exchange, aiming to leverage its leading position in the offshore wind power equipment market, particularly in Europe, where its market share is projected to grow significantly by 2025 [1][3]. Company Overview - Founded in 2000 and listed on the Shenzhen Stock Exchange in 2010, Daikin Heavy Industries has a total market capitalization of RMB 30.153 billion as of September 29, making it the first wind power tower company listed in China's A-shares [3]. - The company is recognized as a global leader in offshore wind power core equipment, providing a comprehensive "construction + transportation + delivery" solution for major offshore wind developers [3]. - Daikin Heavy Industries has transitioned from a product supplier to a system service provider, expanding its offerings to include specialized transportation, ship design and construction, and wind power port operations [3]. Market Position and Strategy - According to Frost & Sullivan, Daikin Heavy Industries is the top supplier of offshore wind power foundation equipment in Europe, with its market share expected to rise from 18.5% in 2024 to 29.1% in the first half of 2025 [1][3]. - The company has upgraded its "Two Seas Strategy" to a "New Two Seas Strategy," resulting in a significant increase in overseas revenue from 16.4% of total revenue in 2022 to 79.0% in the first half of 2025 [3]. - Daikin Heavy Industries has established a global marketing network with permanent offices in Europe and Japan, aiming to expand into emerging markets such as Australia and Southeast Asia [4]. Financial Performance - For the six months ending June 30, 2025, Daikin Heavy Industries reported a revenue of RMB 2.841 billion, a year-on-year increase of 109.5%, and a net profit of RMB 546.515 million, up 214.3% [6]. - The company achieved its best historical performance in the second quarter of 2025, benefiting from the growth of high-quality overseas project deliveries and maintaining a robust cash flow [6].

Core Viewpoint - The company, Dajin Heavy Industry, reported significant growth in its 2025 semi-annual results, with a notable increase in revenue and net profit, driven by its strong performance in the offshore engineering sector and strategic focus on high-quality development in the global offshore wind power market [1][2]. Financial Performance - The company achieved an operating income of 2.841 billion yuan, a year-on-year increase of 109.48% [1] - Net profit reached 547 million yuan, up 214.32% year-on-year [1] - The net profit attributable to the parent company, excluding non-recurring gains and losses, was 563 million yuan, reflecting a 250.48% increase year-on-year [1] - In the second quarter, net profit was 316 million yuan, a quarter-on-quarter increase of 36.63% [1] - The company plans to distribute a cash dividend of 2.80 yuan per 10 shares (tax included) [1]. Business Growth and Strategy - The company has seen a rapid increase in the scale and profitability of its offshore engineering business, leading to overall performance growth [2] - The strategic focus includes transitioning from a product supplier to a system service provider, enhancing its competitive edge in the global offshore wind power equipment sector [2][3]. - The company has secured nearly 3 billion yuan in new orders since the beginning of the year, with total overseas offshore engineering orders exceeding 10 billion yuan [2]. Export and Delivery - The export volume of offshore engineering products doubled year-on-year, with export business revenue accounting for nearly 80% of total revenue, an increase of 23 percentage points compared to the same period last year [3]. - The company adopted a DAP (Delivered at Place) delivery model for all offshore wind foundation equipment products delivered overseas in the first half of the year [3]. Shipbuilding and Logistics - The company’s self-developed special heavy transport ship has entered the preparation phase for launching, with plans for its maiden voyage in the first half of 2026 [4]. - A contract was signed with a South Korean shipping company for the construction of a 23,000 DWT heavy wind power deck transport ship, valued at approximately 300 million yuan [4]. Renewable Energy Projects - The company’s renewable energy projects include a 250 MW fish-solar complementary project that achieved full capacity grid connection [5]. - As of the report date, the company has 500 MW of self-owned renewable energy projects in operation and 950 MW of onshore wind projects under construction, expected to be operational by the second half of 2026 [5]. - The renewable energy segment contributed 125 million yuan in revenue, a year-on-year increase of 5.56% [5].