China targets 100 GW offshore wind by 2030, boosting equipment stocks 3.05%
On September 24, 2024, Chinese wind power equipment stocks surged after the Ministry of Natural Resources reiterated a target to double offshore wind capacity to 100 GW by 2030 under the 15th Five-Year Plan. The sector index rose 3.05%. Overseas catalysts included Germany approving a draft amendment to its Offshore Wind Energy Act, extending operating periods to 35 years. Dajin Heavy Industry signed a contract for a new offshore installation vessel at the Hamburg Wind Energy Expo. Analysts forecast improved profitability in the second half of 2024.
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China Wind Power Stocks Surge on Policy Boost; Top Performers and Margin Buying Revealed
On September 24, Chinese wind power equipment stocks rallied against a broader market decline, driven by policy catalysts and overseas developments. The Ministry of Natural Resources reiterated a target to double offshore wind capacity to 100 GW by 2030 under the '15th Five-Year Plan'. Germany approved a draft amendment to its Offshore Wind Energy Act, extending standard operating periods to 35 years and introducing a contract-for-difference mechanism. At the Hamburg International Wind Energy Exhibition, Dajin Heavy Industry signed a contract for a new offshore foundation installation vessel. Analysts from Jianghai Securities, Guojin Securities, and Industrial Securities forecast that domestic and European demand will drive sector revenue and profit recovery in the second half of the year, citing easing raw material costs and high tender volumes. Among 32 A-share wind equipment stocks, 14 posted profit growth in the first half of 2024, with 10 seeing increased margin buying in September, including Dajin Heavy Industry (3.60 billion yuan) and Luozhou Bearing (1.12 billion yuan).
Read sourceChina Offshore Wind Capacity Target Doubles; Stocks Rally on Policy and Overseas Orders
On September 24, Chinese wind power equipment stocks surged after the Ministry of Natural Resources reiterated a target to double offshore wind capacity to 100 GW by 2030 under the 15th Five-Year Plan. Overseas catalysts also emerged: Germany's cabinet approved a draft amendment to the Offshore Wind Energy Act, introducing a contract-for-difference mechanism and extending standard operating periods to 35 years. At the Hamburg International Wind Energy Expo, Dajin Heavy Industry signed a contract with Norwegian firm Ulstein for a new offshore foundation installation vessel. Analysts at Jianghai Securities and Guojin Securities forecast accelerated domestic offshore wind construction and improved profitability in the second half of 2024 due to seasonal demand and easing raw material costs. According to East Money Choice data, 14 wind equipment stocks posted net profit growth in the first half of 2024, with 10 of them receiving net margin buying in September, including Dajin Heavy Industry (3.60 billion yuan) and Luozhou Bearing (1.12 billion yuan). The article attributes these views to the named analysts and data providers.
Read sourceChina Wind Power Equipment Stocks Surge on Policy Target of 100 GW Offshore Capacity by 2030
On September 24, Chinese wind power equipment stocks rose sharply, with the sector index gaining 3.05%. The move followed a Chinese government announcement that during the 15th Five-Year Plan period, offshore wind power installed capacity will double to 100 GW by 2030. The policy was unveiled at a State Council Information Office press conference on natural resource security. Separately, a research report from Caitong Securities forecast that mechanism electricity prices could rebound by 10-25% by the first half of 2027, and that improving renewable energy absorption conditions will gradually restore wind project profitability, marking a clear bottom for the industry. The article highlights several related stocks: Jixin Technology (601218), a leading wind turbine casting manufacturer; Weili Transmission (300904), a producer of precision wind power transmission equipment; Xihua Technology (603248), a global leader in wind gearbox key castings; and Hezhan Energy (000809), which focuses on integrated source-grid-load-storage projects. The article includes a disclaimer that the content is for reference only and does not constitute investment advice.
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Capital Flows Back into Green Power: Wind Equipment Stocks Surge on Offshore and Export Growth
Wind power equipment stocks are experiencing a sustained rally, with capital flowing into the sector. Jixin Technology and Luozhou Bearing hit their daily price limits, while other stocks like Zhenhong, Weili Transmission, Xihua Technology, Xin Qiang Lian, and Dajin Heavy Industry also rose. After years of price wars, the industry is seeing improved profitability expectations due to the acceleration of domestic offshore wind projects and the gradual release of overseas orders. According to the Chinese government's renewable energy plan, offshore wind development will continue through the '15th Five-Year Plan' period, expanding deep-sea wind power and supporting infrastructure. Overseas, European offshore wind tenders are increasing, creating a supply-demand gap that benefits Chinese equipment exports, as noted by Caixin. Tianfeng Securities research indicates that irrational low-price competition has eased, with wind turbine prices stabilizing and recovering, allowing for profit margin improvements for component suppliers. Analysts expect offshore wind engineering equipment and composite materials to benefit from increased installation and larger turbine blades.
Read sourceChina Offshore Wind Capacity to Double to 100 GW by 2030, Boosting Equipment Stocks
On September 24, 2024, wind power equipment stocks in China strengthened during trading, according to a report from Southern Finance citing market data. The positive movement was driven by a policy announcement from the State Council Information Office, which held a press conference on the '15th Five-Year Plan' period. The government stated that China will strengthen marine development and protection, projecting that by 2030, the national offshore wind power installed capacity will double to reach 100 gigawatts (1 billion kilowatts). Additionally, the total marine economy output value is expected to exceed 13 trillion yuan by the same year. The report also mentions a note from Caitong Securities on the new energy sector. The news was originally sourced from Southern Finance Network and published on East Money's company reports section.