天顺风能(002531) - 投资者关系活动记录表（2026年03月31日）

Group 1: Financial Performance - In 2025, the total revenue reached 5.38 billion, a year-on-year increase of 10.9% [2] - The company reported a net profit attributable to shareholders of -250 million, a decline of 228.78% year-on-year [2] - Major losses were attributed to asset impairment losses totaling 320 million, including long-term equity investment impairment of 102 million and fixed asset impairment losses of 159 million [2] Group 2: Operational Developments - The company has established four main production bases in China, all of which are now operational [3] - The Yangjiang base is expected to commence production in Q2 2026 after completing equipment debugging [3] - The company has delivered several projects in the wind power marine equipment sector, including the successful completion of the PTSC FSO project in Vietnam [2] Group 3: Wind Power Development - The company’s installed capacity of grid-connected power stations reached 1.8 GW, with ongoing projects totaling 1,030 MW [3] - The first phase of the 200 MW wind farm in Puyang, Henan, has been connected to the grid [3] - Future projects include a 100 MW project in collaboration with Datang, which is currently under construction [4] Group 4: Market Outlook - The European offshore wind industry is expected to see significant growth, with a high certainty of demand increase from 2028 to 2032 [4] - Domestic offshore wind power is entering a new cycle, with nearly 40 GW of approved but unconstructed projects [4] - The company maintains a positive outlook on the offshore wind sector for the next three to five years [4] Group 5: Strategic Focus - The company is focusing on manufacturing fixed and floating foundation products for offshore wind power, which require significant resources and land [5] - There are currently no plans to export onshore or conventional offshore towers, as the domestic supply is sufficient [5] - The company aims to build specialized and efficient production lines for offshore wind power equipment and traditional marine engineering [5]