TSP(SZ:300129)2022-11-23 06:58Group 1: Industry Outlook - The wind power industry has significant development potential both domestically and globally, with a positive outlook for 2021 [2] - The company anticipates a strong demand for onshore wind power and expects rapid growth in offshore wind power due to the "抢装年" (rush installation year) [2] - The company is optimistic about the domestic wind power market during the "14th Five-Year Plan" period, supported by government policies on carbon emissions [2] Group 2: Product Offerings - The company manufactures a wide range of products for both onshore and offshore wind power, including large diameter segmented towers and various offshore components [2] - Offshore wind power products require higher corrosion resistance and larger structures compared to onshore towers [2] - The company is actively exploring emerging markets in Southeast Asia, Central Asia, Australia, Africa, and South America [2] Group 3: Market Dynamics - Recent price fluctuations in raw materials have impacted the pricing of onshore wind towers, with a recent decline in prices due to stable steel prices and lower costs for flanges and internal components [2] - The company employs a cost-plus pricing model, allowing it to manage risks associated with raw material price volatility effectively [2] - The company is considering expanding production capacity in response to market demands, particularly in regions with higher electricity prices [3] Group 4: Production Strategy - The company is seeking suitable production bases in the Guangdong and Fujian regions for offshore wind power, while also establishing new partnerships in Zhejiang and Jiangsu to meet current market demands [3] - Entry barriers for manufacturers in the offshore wind power sector include the need for suitable assets, technical expertise, and project management experience [3]