Hong Kong stock concept tracking | Offshore wind power welcomes good news. Domestic offshore wind projects continue to advance. Wind power equipment companies enter profitability recovery phase (with concept stocks)

Recently, the Ministry of Natural Resources, National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Finance, Chinese Academy of Sciences, and National Energy Administration jointly issued the "Guidance on Promoting the Large-scale Utilization of Marine Energy". Pan Huimin, Deputy Director of the New Energy and Renewable Energy Department of the National Energy Administration, stated on February 24 that the National Energy Administration will work with relevant departments to solidly promote pilot area marine energy resource surveys, and promote them in coastal areas nationwide in a timely manner; actively promote the joint development of offshore wind power and wave energy to improve the efficiency of marine resource development. In recent years, China's offshore wind power industry has developed rapidly. Currently, the maximum unit capacity of offshore wind turbines has reached 20 megawatts. The cumulative installed capacity was less than 5 million kilowatts in 2018, and is expected to exceed 45 million kilowatts by the end of 2024. It is predicted that by 2030, the total installed capacity of offshore wind power in China will reach 200 million kilowatts, with a total investment of approximately 2.6 trillion yuan, driving the total value of the industry chain to exceed 20 trillion yuan. According to the data from the National Energy Administration, in the first three quarters of 2024, China's newly added and grid-connected offshore wind power capacity was 2.47 million kilowatts, and the cumulative grid-connected capacity reached 39.1 million kilowatts. The "China Marine Energy Development Report 2024" predicts that in 2024, the newly added grid-connected capacity of offshore wind power will reach 8 million kilowatts, and the cumulative grid-connected capacity will reach 45.21 million kilowatts, with an annual growth rate of 21.5%, accounting for over 50% of the global market share; in 2025, China's newly added offshore wind power installation capacity will exceed 14 million kilowatts. Compared to the onshore wind market, the offshore wind power market will show even stronger growth potential in 2025. From a global perspective, by 2025, the domestic market for the wind power industry will show strong growth momentum, and the overseas market will also usher in new development opportunities. Europe, as a leader in the global wind power industry, has particularly significant growth in its offshore wind power market. According to GWEC's forecast, by the end of 2025, Europe's offshore wind power installed capacity will begin to increase, and the newly added installed capacity in 2026-2027 is expected to exceed 8GW, with a cumulative installed capacity reaching over 150GW by 2030. The "2024 China Wind Power Hoisting Capacity Statistics Brief" released by the Wind Energy Committee of the Chinese Renewable Energy Society shows that in 2024, there were 13 manufacturers of wind power equipment with newly installed capacity in China, with the top 5 companies together accounting for 75% of the market share, and the top 10 companies accounting for 98.6%. The top 5 manufacturers of wind power installations in 2024 were Goldwind Science & Technology, Envision Energy, Ming Yang Smart Energy, Windey Energy Technology Group, and Sany Renewable Energy, with installed capacities of 18.67 million kilowatts, 13.63 million kilowatts, 12.29 million kilowatts, 11.51 million kilowatts, and 9.15 million kilowatts respectively. The top 10 manufacturers also include Dongfang Electric Corporation, CRRC Corporation, Shanghai Electric Wind Power Group, China Shipbuilding Industry Corporation, and United Power. The brief also shows that in 2024, 7 manufacturers of wind power equipment had new offshore wind power installations, with Ming Yang Smart Energy installing 185 units with a capacity of 1.757 million kilowatts, accounting for 31.3%. This was followed by Goldwind Science & Technology, Dongfang Electric Corporation, Shanghai Electric Wind Power Group, China Shipbuilding Industry Corporation, Envision Energy, and Windey Energy Technology Group. In terms of exports, in 2024, 5 manufacturers of wind power equipment exported to 23 countries, with Goldwind Science & Technology exporting 2478.4MW, Envision Energy 2284.8MW, Windey Energy Technology Group 240MW, Ming Yang Smart Energy 143.6MW, and Shanghai Electric Wind Power Group 47MW. Tianfeng indicates that with high demand growth, improving supply structure, turning points in wind turbine prices are emerging, driving the recovery of wind turbine and component profitability; with insufficient overseas production capacity, price elasticity and profit elasticity are better than domestic, under industry inflation, wind power equipment companies' performance is seeing continuous recovery. Western points out that in 2025, domestic offshore wind projects continue to progress, and the long-term growth potential of offshore wind power is promising. Recommended stocks in the wind power sector include Ningbo Orient Wires & Cables, Jiangsu Zhongtian Technology, Ming Yang Smart Energy, Goldwind Science & Technology, and suggested watching Jiangsu Haili Wind Power Equipment Technology and Dajin Heavy Industry. Related concept stocks: Goldwind Science & Technology (02208): Since 2024, the company has achieved business breakthroughs in markets such as Morocco, the Philippines, and Georgia, with business presence on all continents of the world and in 42 countries. As of the end of the third quarter of 2024, the company's international business cumulative installed capacity was 8,051MW, with installed capacities exceeding 1GW in North America, Oceania, and South America, and 2GW in the Asian region (excluding China). As of September 30, 2024, the company's overseas external orders totaled.The translation of "5536MW" is "calculated as 5536 megawatts" in English.Dongfang Electric Corporation (01072): In January 2025, the largest single-unit capacity mountain wind power project in China - Dongfang Electric Corporation's Xinjiang Mulei 1 million kilowatt wind power project was connected to the grid for the first time. After the project is completed, the annual power generation can reach 2.7 billion kilowatt hours, which can meet the electricity demand of 7 counties in Mulei, or meet the annual electricity consumption of 2 million households, effectively improving the local power supply capacity. DATANG RENEW (01798): In January 2025, the group completed a power generation of 3,107,319 megawatt hours according to the consolidated financial statements, an increase of 2.61% compared to the same period in 2024. Among them, the wind power generation reached 2,801,130 megawatt hours, an increase of 0.42% compared to 2024; photovoltaic power generation reached 306,189 megawatt hours, an increase of 28.13% compared to 2024.