Western: The wind power industry maintains high prosperity outlook, optimistic about opportunities in wind turbines and components, as well as investments in Shenhai.

Western released a research report stating that the wind power industry remains highly prosperous. There are two main investment themes: (1) Wind turbine bidding prices are performing well, with the potential for wind turbine profits to recover. There is also potential for higher-than-expected future installation capacity, as overseas demand for wind power continues to grow, opening up further growth opportunities. It is recommended to focus on investment opportunities in wind turbines and components. (2) Both domestic and international offshore wind demand are resonating, and the growth prospects for offshore wind are promising. Smooth progress is expected in domestic offshore wind projects, with high installation capacity expected by 2025-2026 and prospects for deeper offshore wind projects to open up growth opportunities. Key points of Western's analysis include: - Wind turbine bidding prices are continuing to rise, with sales profits of wind turbines expected to recover by 2026. - Domestic wind turbine shipments are expected to exceed expectations in 2026, opening up growth opportunities for offshore wind installations. - Smooth progress is being made in nearshore domestic projects, and there is vast potential for deeper offshore wind projects. - Overseas offshore wind construction is accelerating, with multiple stages presenting export opportunities for offshore wind projects. Based on these key points, Western recommends focusing on investment opportunities in wind turbines, components, and offshore wind projects. Specific companies recommended for investment include Goldwind Science & Technology, Ming Yang Smart Energy, Sany Renewable Energy, Windey Energy Technology Group, Riyue Heavy Industry, JinLei Technology, Yinchuan Weili Transmission Technology, Luoyang Xinqianglian Slewing Bearing, and others. Risk factors to consider include policy risks, market competition risks, and economic and exchange rate fluctuations.