Brokerage morning meeting highlights: It is recommended to pay attention to companies in the humanoid robot industry that have the capability for low stock price bulk supply of components.
In today's Brokerage morning meeting, China Securities Co.,Ltd. suggested focusing on companies in the humanoid robot Industry that have the capacity for low stock price mass supply of components; Tianfeng stated that the wind turbine Sector will undergo a value reassessment; Galaxy Securities believes that the peak season de-stocking turning point in the non-ferrous Industry is emerging, and the spring market is expected to unfold.
Tianfeng: The wind turbine Sector is set to undergo a value reassessment.
Tianfeng states that in the context of demand for wind power exceeding expectations, the current logic of the wind turbine industry has undergone significant changes, and the wind turbine sector will face a revaluation of its value.
Tianfeng: Price stabilization combined with profits bottoming out creates a resonance in domestic and foreign wind turbine demand.
The recovery of profitability in the wind turbine Business is a lengthy process, and it's expected that 2025 will be the year when the Industry turns a profit, with domestic demand expected to grow beyond expectations.
Zhangjiagang Guangda Special Material (688186.SH): Signed a contract worth 1.505 billion yuan with Ming Yang Smart Energy.
Glonhui reported on March 11 that Zhangjiagang Guangda Special Material (688186.SH) announced that the company recently signed a "Framework Procurement Contract for Wind Turbine Components for 2025" with Ming Yang Smart Energy Group Co., Ltd. (referred to as "Ming Yang Smart Energy"), with a contract amount of 1.505 billion yuan (including tax).
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GF SEC: The restrictions on offshore wind have been lifted + high bidding, the wind power Industry may see a bottom reversal and valuation switch in 2025.
Since Q3 of 2024, the constraints on offshore wind have gradually been lifted, and the domestic offshore wind sector is experiencing multiple catalysts, with a promising recovery in industry demand expected; moreover, under the 14th Five-Year Plan, the offshore wind development goals of various provinces and cities are firm, making it bullish on significant increases in offshore wind bidding and installation in 2025, with installed capacity expected to reach 12-15 GW by 2025.
Guosheng Securities' strategy for the wind power Industry in 2025: A new round of high demand for wind power, with dual seas, complete machines, and large MW as the main focus.
After experiencing intense competition, the current host prices are expected to stabilize and rebound in terms of price and profitability, and overseas wind power demand is increasing. The high profitability overseas is expected to improve the profit structure of the domestic wind turbine Industry Chain.
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Ming Yang Smart Energy (601615.SH): Overseas corporate Bonds have completed principal and interest payments.
Glory Network on December 16th丨Ming Yang Smart Energy (601615.SH) announced that its wholly-owned overseas subsidiary Ming Yang Smart Energy (BVI) Ltd. acted as the issuer of the overseas corporate bonds and completed the issuance of 0.2 billion USD corporate bonds (hereinafter referred to as "this USD bond") on December 14, 2021. This USD bond has a coupon rate of 1.60%, pays interest semi-annually, has a maturity period of 3 years, and the bond maturity date is December 16, 2024 (the original principal and interest repayment date was December 14, 2024, but it was postponed to December 16, 2024 due to holidays). As of 2024,
Soochow Securities: The demand for onshore and offshore wind installations will resonate in 2025, bullish on the growth potential of offshore wind.
In 2025, offshore wind power installation will experience rapid growth, showing long-term growth potential; onshore wind power installation will benefit from improved demand, and the wind turbine sector will gain from stable prices and cost optimization to achieve a profit reversal. The casting sector and others have the basis for price increases and enjoy significant profit elasticity.
ubs group: Maintains a "buy" rating for goldwind science& technology, with the target price raised to 9.5 Hong Kong dollars.
UBS Group released a research report stating an optimistic outlook for China's turbine original equipment manufacturers. Their analysis shows that considering various factors, including supply and demand dynamics, returns on wind power projects, and geopolitical risks, the Middle East and Africa as well as the ASEAN region are the most favorable markets for China's turbine manufacturers. The preference for turbine manufacturers is ranked as follows: Goldwind Science & Technology (02208), Ming Yang Smart Energy (601615.SH), and SANY Heavy Energy (688349.SH). The target price for Goldwind Science & Technology is raised from 6 HKD to 9.5 HKD, maintaining a 'buy' rating. The bank explained.
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Huachuang Securities: The tender volume for wind turbines in Q1-3 increased significantly year-on-year. Q3 saw a surge in submarine cable and complete machine delivery, leading to profit improvement.
The wind power prosperity continues to rebound, with an additional wind power installed capacity of 39.1GW in 2024 Q1-3, a year-on-year increase of +16.8%, of which offshore/onshore increased by 2.5/36.7GW respectively, with year-on-year growth of +72.7%/+14.4%.
Mingyang Intelligence: Third Quarter Report 2024
Third Quarter Report 2024
Ming Yang Smart Energy (601615.SH): The net income for the first three quarters was 0.809 billion yuan, a decrease of 34.58% year-on-year.
Ming Yang Smart Energy (601615.SH) announced on October 30th that it achieved revenue of 20.237 billion yuan in the first three quarters of 2024, a decrease of 4.14% year-on-year; net income attributable to shareholders of the listed company was 0.809 billion yuan, a decrease of 34.58% year-on-year, with basic earnings per share of 0.36 yuan. In the third quarter of 2024, revenue reached 8.441 billion yuan, a decrease of 19.39% year-on-year; net income attributable to shareholders of the listed company was 0.148 billion yuan, a decrease of 74.57% year-on-year, with basic earnings per share of 0.07 yuan.