The world's first wind power industry 'lighthouse factory' certification settled in China's Shaoshan·Sany Heavy Industry Blade Factory, achieving a breakthrough from 0 to 1 for the wind power industry 'lighthouse factory,' marking the official entry of China's wind power blade 'smart manufacturing' into a new era.

The 'lighthouse factory' is praised as the 'world's most advanced factory', selected by the World Economic Forum (WEF) in collaboration with McKinsey, it represents the highest level of intelligent manufacturing and digitalization in the current global manufacturing sector, showcasing 'digital manufacturing' and 'globalization 4.0'.

citic sec's research report points out that the wind power industry's prosperity has gradually improved recently, and is expected to see a bottom reversal within the year.

It analyzes several aspects such as domestic and foreign demand, changes in the industry chain, and changes in raw material prices.

On the domestic and foreign demand side, the decrease in wind turbine prices highlights the economic viability of wind farms and demonstrates a certain degree of self-adjustment capability. Domestic installation material will continue to grow; influenced by various factors such as electricity consumption growth, energy transition, and interest rate cuts, it is expected that overseas bidding and installations will also maintain stable growth.

At the industry chain end, the models are basically fixed and price competition is slowing down, with product quality becoming a more important factor; various factors such as component large-scale production and profit pressure lead to marginal production capacity exit; it is expected that the export scale of wind power complete machines and components will increase.

From the raw material side, the decline in raw material prices is conducive to improving the profitability of components. It is recommended to pay attention to the investment opportunities of wind power equipment and related component companies.

Wind power equipment-related companies:

Goldwind Science & Technology (02208): In the 2023 global wind power complete equipment ranking, Chinese wind power enterprises were far ahead, with four of the top five seats. Among them, Goldwind Science & Technology ranked first, with last year's new installed capacity accounting for 13.9% of the global market share. In the first quarter of this year, Goldwind Science & Technology's net income growth rate once dropped significantly, with a net income of only 0.333 billion yuan. The net income attributable to the parent company's shareholders in the semi-annual report was 1.387 billion yuan, a year-on-year increase of 10.83%. This means that the company made a significant effort in the second quarter. As of June 30, 2024, Goldwind Science & Technology's total order volume was 38.4GW, of which external orders totaled 35.6GW, a year-on-year increase of 26.40%. Among these, the vast majority of the company's outstanding orders are for specifications of over 6MW, with corresponding orders of 23.17GW, accounting for 65%.

China High-speed Transmission (00658) is a conglomerate specializing in the research, development, and manufacturing of high-speed, heavy-duty, and precision gear transmission devices. Its business covers the fields of wind turbine gearboxes, rail vehicle gearboxes, industrial gearboxes, robot reducers, and new energy vehicle gearboxes. In 2023, the company's sales revenue from wind turbine gear transmission equipment business increased by 12.2% to 14.89 billion yuan compared to the previous year. From the customer perspective, the company has significant advantages in customer resources in 2023. Its customers for wind turbine gear transmission equipment products include not only major wind turbine complete set businesses in China, but also internationally renowned wind turbine complete set businesses.