Windey(SZ:300772)2025-12-19 09:08Group 1: Wind Power Market Trends - The bidding prices for wind turbine units have increased in 2024 due to several factors, including the signing of a self-discipline agreement by 12 domestic manufacturers to address unfair competition and contract issues [2] - National meetings have emphasized the need to prevent "involution" competition, leading some owners to adjust their bidding rules [2] - There is a growing emphasis on the quality and reliability of wind turbines, with more owners preferring high-quality, high-performance units, contributing to a slight increase in bidding prices this year [2] Group 2: Cost Reduction and Profitability Improvement - The company is enhancing profitability through improved R&D capabilities, product performance, and the development of competitive new products [3] - Key technical optimizations include iterative improvements in turbine parameters, load reduction in LAC systems, and the application of high-torque density gearboxes, which enhance cost competitiveness [3] - The company is also focusing on self-research of core components, such as blades, to improve gross margins [3] Group 3: International Business Expansion - The company’s international competitiveness is increasing, with a more than 100% year-on-year growth in overseas bidding capacity in 2024, marking two consecutive years of doubling growth [3] - The company has made breakthroughs in markets such as the Middle East and North Africa, securing project orders for the first time [3] - Future plans include accelerating global strategic layout and expanding overseas client acquisition to enhance order scale and create new profit growth points [3] Group 4: Offshore Wind Power Development - The company is focusing on the offshore wind power market, aiming to achieve industry leadership and establish a strong brand advantage [4] - Investments have been made in offshore wind power assembly bases in Dalian and Wenzhou, creating a dual-base layout [4] - The company is actively pursuing near and far offshore projects in Zhejiang and is monitoring deep-sea markets in Dalian and Guangdong [4] Group 5: Future Growth Drivers - Key growth drivers for the company include ongoing policy support for the renewable energy sector, technological advancements enhancing the strategic position of wind power, rapid expansion in domestic and international markets, increasing industry recognition, and growth in other business segments [4]