通裕重工(300185) - 通裕重工调研活动信息

Group 1: Wind Power Main Shaft Production - The production capacity of wind power main shafts has been increasing annually, with a production volume exceeding 150,000 tons in 2020 [1] - The company prioritizes the production of wind power main shafts, which has led to a decrease in production capacity for other forged products due to high demand [1] - Major clients for the wind power main shafts include GE (USA), Vestas (Denmark), and several domestic manufacturers [1] Group 2: Market Competition and Trends - The production of wind power main shafts is primarily concentrated in China, with major competitors being Tongyu Heavy Industry and Jinlei Co., Ltd. [2] - The market competition for wind power main shafts is expected to remain stable due to high entry barriers for suppliers [2] - The company plans to enhance its production efficiency and reduce costs through technological upgrades and process improvements [2] Group 3: Production Capacity Expansion Plans - The company aims to improve production efficiency and reduce costs by implementing a project to upgrade forging technology, which is expected to take two years [2] - The project will involve the construction of a new workshop and the installation of large-scale forging equipment [2] - This upgrade is anticipated to increase the overall production capacity for forged products [2] Group 4: Profit Margin and Sales Trends - The gross profit margin for wind power main shafts has remained stable, but there has been a decline in orders and profit margins in 2021 due to various market pressures [3] - The company has experienced increased production costs due to rising raw material prices, impacting profit margins [3] - The gross profit margin for exported and domestically sold wind power main shafts is similar, primarily influenced by the megawatt rating of the shafts [3] Group 5: Future Development Plans - The company is focusing on expanding its product offerings in clean energy sectors, including hydropower and solar energy [3] - Plans are in place to enhance the production capacity for offshore wind power components, which are expected to see increased demand [4] - The company has initiated a project to improve the production capabilities for large offshore wind power components, addressing transportation challenges and reducing costs [4]