HK Stock Market Move | Wind power stocks rose during trading, with a significant increase in domestic wind power bidding volumes in the first three quarters. Overseas demand also showed a steady increase.

In the stock market, wind power stocks rose during the trading session. As of the time of writing, Goldwind Science & Technology (02208) rose by 4.35% to HK $6.24; China Longyuan Power Group Corporation (00916) rose by 3% to HK $6.87; CHINA SUNTIEN (00956) rose by 2.68% to HK $3.45; DATANG RENEW (01798) rose by 1.99% to HK $2.05. On the news front, recently, according to market reports, China's offshore wind power installed capacity is expected to exceed 45 million kilowatts this year, ranking first in the world for the fourth consecutive year. In the first three quarters of this year, offshore wind power added 2.47 million kilowatts, with a cumulative grid-connected capacity reaching 39.1 million kilowatts. As of the third quarter of this year, China's cumulative installed capacity of offshore wind power has been the world's number one for three consecutive years, surpassing the combined grid-connected capacity of the second to fifth-ranked countries in offshore wind power. Sinolink believes that with domestic and overseas demand resonating, there are clear signals of a surge in the wind power industry and continued improvement in overall profitability. Q3 offshore wind power installations are rebounding, and onshore wind power installations are steadily increasing; wind turbine bidding is in a high-demand phase, with stable bidding prices, and there are expectations for improvement in industry prices. Zhongtai International research report points out that recently, the UK's East Anglia 2 offshore wind project has completed the procurement of core equipment such as offshore wind turbines and single pile foundations. The UK Prime Minister has proposed temporary subsidies for offshore wind developers investing in industrial centers, coastal areas, and oil and gas communities in the UK. Turkey has introduced a 5GW offshore wind development roadmap for 2035, with the offshore wind industry thriving overseas. Domestic offshore wind key projects are gradually starting construction, and the outlook for next year is promising. The 2.65GW project in Jiangsu has made significant progress and clear information on the start of construction this year, with the Hengtong 500kV offshore cable for the Fanship Project 1 and 2 projects have been awarded, the environmental impact assessment for the Fanship Project 2 has been approved recently, and the bidding for tower sections in Qingzhou has started. Coupled with the orderly bidding and construction of other key projects, the delivery volume over the next 25 years is expected to increase significantly, so it is recommended to pay attention to Goldwind Science & Technology, among others.