Titan Wind(SZ:002531)2026-02-11 02:20Summary of Conference Call for TianShun Wind Energy Company Overview - Company: TianShun Wind Energy - Industry: Wind Energy Key Points 1. Business Recovery - The company has completely resolved its historical burdens related to land-based wind turbine production, marking a turnaround in its fundamental operations. By the end of 2025, TianShun has closed down most of its land-based wind capacity and recognized an impairment of approximately 250-300 million yuan, which has now been fully addressed [1][1][1]. 2. Domestic Offshore Wind Orders - There is an expectation for a significant acceleration in domestic offshore wind orders, with the company likely to win bids for several projects including those in Guangdong, Hainan, and others. This is anticipated to lead to a substantial increase in order volume [1][1][1]. 3. Overseas Order Progress - The company has exceeded expectations in overseas orders, with about half of its projects in the UK AR7 offshore wind competition (approximately 8.3 GW) entering the supplier list. The BB jacket project is expected to win a bid by mid-year [2][2][2]. - TianShun is also advancing the construction of its offshore wind base in Germany, having placed equipment orders and completed preliminary factory inspections to obtain bidding qualifications, which opens up long-term growth opportunities [2][2][2]. - The company is actively expanding its presence in other overseas bases as well [2][2][2]. 4. Future Performance Outlook - The company anticipates that its performance in 2026 and 2027 will continue to release significantly, supported by its current production capacities of over 1 million tons in Jiangsu and Guangdong, and 500,000 tons in Germany, indicating substantial potential for revenue growth and operational flexibility [2][2][2]. 5. Continued Recommendation - The company remains a strong recommendation for investors, with ongoing updates and discussions encouraged for further insights into its operational status and market positioning [3][3][3].