China Securities Co.,Ltd. published the investment outlook for the Wind Turbine Industry in 2025, indicating that 2025 will be a relatively rare year of resonance in the wind turbine mainframe, component, and offshore wind sectors, with strongly determined demand: (1) Mainframe: In 2025, the gross margin of the mainframe will continue to recover, and overseas Orders will increase, thus reversing the industry's difficulties; (2) Components: As the year-end price negotiation stage approaches, the strong bargaining power of components amid active bidding in 2024 indicates that some components have a basis for price increases. In 2025, both 'volume & profit' will be flexible, with attention suggested for Blades and cast-forged segments; (3) Offshore Wind: The issues in Jiangsu and Guangdong have gradually become clear, with an expected addition of 12-15GW of new installations in 2025, doubling year-on-year, indicating a highly prosperous demand, with attention suggested for submarine cables and tower sections. Additionally, in the short to medium term, the industry will see continuous changes and catalysts in the next six months; in the long term, the proportion of wind power installations in the New energy Fund is expected to continue increasing, and this has not been fully anticipated by the market.