Changes in Hong Kong stocks | Goldwind Technology (02208) rose by more than 4%, optimized fan evaluation rules boosted price recovery, and companies' profits are expected to continue to improve

The Zhitong Finance App learned that Goldwind Technology (02208) rose by more than 4%. As of press release, it had risen 4.65% to HK$6.53, with a turnover of HK$54.5044 million.

According to the news, CITIC Securities pointed out that China Power Investment has optimized the fan bidding and rating rules to help promote a recovery in fan prices, put an end to excessive “internal circulation” in the industry, and drive price stabilization and manufacturer profit recovery in the wind power industry chain. In addition, according to the daily wind power WeChat account statistics, the domestic fan market will win 126 GW (+65% YoY) from January to October 2024. The bank is expected to win about 145 GW of bids throughout the year, laying the foundation for a significant recovery in domestic wind power installations in 2025. Furthermore, offshore wind power is expected to speed up installation and officially enter a high growth stage as various approvals are gradually completed and policy support continues to increase.

At the same time, benefiting from the increase in overseas wind power demand, leading domestic machine manufacturers will also enter the centralized acceptance phase of overseas projects starting in 2025, when the scale of overseas bid wins has increased markedly since 2022. Therefore, in a situation where domestic installed demand and the share of “double seas” have increased markedly, the profits of wind power manufacturers are expected to continue to improve as the price of complete machines is expected to rise steadily.