中国风电：强劲盈利增长下的复苏-ANCHOR REPORT_ China wind_ Turnaround with strong earnings growth

ANCHOR REPORT Global Markets Research 14 October 2025 Eyes on margin recovery and offshore wind We believe China's wind power sector has turned a corner after years of price competition, as evidenced by the YTD recovery of wind turbine prices. We expect the demand for wind power to stay resilient over 2026-27F, as we believe the returns for wind power projects are likely to be relatively less impacted by the new power tariff policy due to better utilization rates. We believe the key supply-chain players are ...