HK Stock Market Move | Goldwind Science & Technology (02208) rose by over 10% at one point, with its stock price doubling over the year. Bank of America Merrill Lynch said the wind power industry profitability is continuing to recover.

Goldwind Science & Technology (02208) rose by over 10% at one point, with its stock price doubling in the year. As of the time of writing, it has increased by 5.48%, reaching 16.35 Hong Kong dollars, with a turnover of 4.23 billion Hong Kong dollars. On the news front, on October 13, the National Development and Reform Commission issued a notice seeking public opinions on the implementation measures of the Lowest Proportion Target for Renewable Energy Consumption and Responsibility Weights for Renewable Energy Power Consumption (Draft for Solicitation of Comments). According to the document, the lowest proportion target for renewable energy consumption is divided into two categories: the lowest proportion target for renewable energy power consumption and the lowest proportion target for non-power consumption, including all types of renewable energy power generation. Non-power consumption includes various types of renewable energy non-electric utilization such as renewable energy heating (cooling), renewable energy hydrogen and alcohol, and biofuels. Bank of America Securities research report pointed out that it maintains a positive view on the onshore wind power industry chain in the mainland. Driven by the resilience of wind power installation demand, the recovery of wind turbine prices, and the increase in the proportion of high gross profit business, the industry's profitability is continuing to recover. Huaan indicated that Goldwind Science & Technology is a global leader in the wind power industry, with its business covering the entire industry chain, demonstrating integrated competitive advantages. The company's power generation business has outstanding profitability, with the gross profit margin of the 25H1 sector restored to 57%, and an additional net installed capacity of 709 MW. With the introduction of green electricity pricing mechanism, the profit stability of the company's existing and newly developed wind power operation assets is guaranteed.