HK Stock Market Move | Goldwind Science & Technology (02208) rose nearly 5% as domestic wind turbine bid prices rebounded. Institutions are optimistic about the profitability recovery of wind turbine manufacturers.

Goldwind Science & Technology (02208) rose nearly 5%, rising 4.47% at the time of publication, reporting HK$13.79, with a turnover of HK$75.6629 million. In terms of news, Zheshang Research Report pointed out that according to Wind Energy, the cumulative tender volume of wind turbine units in 2025 Q1-Q3 reached 127.3GW, an increase of 16% year-on-year. The rebound in tender prices combined with the expansion of export scale is driving the wind turbine unit gross profit margin back into an upward channel. It usually takes 4-8 quarters from winning the bid to actual receipt of the wind turbines. The third and fourth quarters of this year are important windows to observe profit recovery. With the rapid increase in export capacity of whole machine enterprises, the profitability is expected to further increase. According to Wind Energy statistics, Chinese whole machine enterprises won overseas orders totaling 34.3GW in 2024, and reached 19.28GW in the first three quarters of 2025. Guosen stated that looking forward to 2026, domestic wind power newly installed capacity is expected to maintain a growth rate of 10%-20%, with orders and saturated prices providing good support. The profitability of main machines is gradually increasing, export volume is boosting performance, and a prosperous resonance trend is emerging at home and abroad. Components are expected to achieve "quantity increase and price stability" in 2026, and long-term growth potential is worth looking forward to. Against the background of significant growth in offshore wind power installation and tendering, companies in the offshore cable and pile segments are expected to see a resonance in orders and performance.