The "Star Daily" reported on September 27th (Reporter Qiu Siyu) "The wind turbine manufacturing sector is expected to achieve 'increased quantity and stable prices' in the second half of the year." Zhou Likai, the secretary of the board of directors of Sany Heavy Industry, stated in the 2024 semi-annual earnings conference with the "Star Daily" reporter.

In terms of the "increased quantity," according to industry practice, the second half of the year, especially the fourth quarter, is the peak period for wind turbine installations. Generally, the installation volume in the second half of the year accounts for about 60%-70% of the whole year, with the fourth quarter accounting for around 40%-50% of the entire year.

In the first half of this year, Sany Heavy Industry had already sold 3.3GW of capacity internationally. "The delivery pace of the company in the second half of the year is in line with the industry, and the shipment volume will maintain rapid growth compared to the first half of the year."

Regarding the "stable prices," Zhou Likai stated that most deliveries in the second half of the year are from projects awarded last year, and wind turbine prices will remain stable. "Due to a significant improvement in the gross margin of the main 6MW models this year, we will strive to increase the year-on-year gross margin of wind turbines in the second half of the year compared to last year."

The "Star Daily" reporter noted that in the first half of this year, due to fewer wind farm sales, Sany Heavy Industry increased revenue but not profits. During the reporting period, it achieved revenue of 5.28 billion yuan, a 34.88% year-on-year increase; net income attributable to shareholders was 0.434 billion yuan, a 46.92% year-on-year decrease.

Zhou Likai mentioned in the earnings conference with the "Star Daily" reporter that by the end of the first half of the year, the company's existing wind farm scale had further increased from the beginning of the year, with construction of self-built wind farms exceeding 2GW currently underway. Due to weather conditions, the progress of wind farm construction and transfers was affected in the first half of this year. The company only announced the sale of a wind farm in February. The second half of the year will see acceleration in wind farm construction, and relative to the first half of the year, the company will expedite grid connection and transfer pace.

It is worth mentioning that overseas business is a key focus for Sany Heavy Industry.

"This year, overseas project orders are expected to maintain high-speed growth, laying the foundation for the batch delivery of overseas orders in subsequent years and the high-speed growth of overseas revenue." Zhou Likai frankly stated at the earnings conference: "Currently, overseas orders are mainly from neighboring countries along the belt and road initiative concept, and there are also numerous project negotiations in progress, with hopes of making breakthroughs in more countries in the future."

It is reported that Sany Heavy Industry has already established subsidiaries in Brazil, the United Arab Emirates, the Philippines, South Africa, and other places. The company is accelerating the construction of overseas production capacity, promoting the expansion of the India factory, and preparing for the construction of the factory in Kazakhstan. Currently, it has completed the access work of many major clients in overseas markets and completed the installation and power generation of the first project in India.