goldwind science& technology (02208) is now up more than 8%, as of the time of publication, up 8.45%, at Hong Kong $6.29, with a turnover of 67.3066 million Hong Kong dollars.
According to the Securities Times app, goldwind science& technology (02208) is now up more than 8%, as of the time of publication, up 8.45%, at Hong Kong $6.29, with a turnover of 67.3066 million Hong Kong dollars.
Zhongtai pointed out that recently, the French Sea Breeze A09 tender project has entered the qualification approval stage, with 12 developers shortlisted. Azerbaijan plans to develop a 3.5GW offshore wind power project, and overseas wind power is on the rise. Domestic offshore wind key projects are gradually starting construction, with promising prospects for next year. Jiangsu's 2.65GW project has made significant progress, clear information on commencement expected this year. Fanshi 1-2 has won the bid for a 500kV offshore cable, Fanshi 2's environmental assessment has recently been approved, Qingzhou 5-7 has won the bid for a 500kV direct current offshore cable. In addition to other key projects being tendered and constructed in an orderly manner, the expected delivery volume by 2025 is expected to increase significantly.
Citi recently released a research report stating that Chinese wind turbine generator (WTG) manufacturers will significantly benefit from sales growth in 2024. With the continued growth of China's wind power installation capacity, a year-on-year growth of 19-32% is expected in 2024. In addition, the market price of Chinese WTGs has bottomed out. Citi specifically recommends goldwind science& technology, expecting its WTG sales volume and profit margin to increase between 2024-2025, thanks to a higher mix of offshore and export sales. It is expected that by 2025, export volume will double year-on-year to reach 4GW. Citi believes that the valuation of goldwind science& technology is attractive.