September 23, 2025 02:47 PM GMT China – Wind | Asia Pacific Segment Turnaround after Anti- involution Effort We expect robust demand and ongoing margin recovery along the value chain to follow years of anti-involution. We reiterate our preference for key WTG component suppliers and submarine cable plays compared to WTG OEMs. Key Takeaways After a down-cycle of almost three years, China's wind value chain countered involution from within: It achieved price and broad profitability turnaround entering 2025, wi ...