Wind Power "Takes Off"! Triple Benefits of Capacity, Profitability, and Exports Resonating ( Stock Pick )

On Thursday, March 12th, the wind power sector surged against the trend, with Double One Technology hitting the 20% daily limit, Haili Wind Power and Sany Heavy Energy rising over 11%, and multiple stocks like Dajin Heavy Industry, Deli Jia, and Zhenjiang Shares hitting the daily limit.

Internal and external positive factors resonate

The recent strength in the wind power sector is driven by both external catalysts and internal factors.

According to the Economic Observer, amid turbulence in Europe’s energy markets, Chinese wind power companies quietly secured large orders. Recently, Dajin Heavy Industry signed an agreement with the Polish state-owned Szczecin Wulkan Shipyard to supply 40 core foundation components for the Nordseecluster B offshore wind project in the North Sea, demonstrating the overseas expansion capabilities of domestic offshore wind companies.

Additionally, according to Cailian Press, starting April 1, the UK will eliminate 33 import tariffs on wind turbine components, reducing tariffs on blades, cables, and other core parts from 6% and 2% to 0%. This move aims to unlock £22 billion in investments and accelerate offshore wind installations in the North Sea. Domestic wind component manufacturers will directly benefit from lower export costs.

Domestically, according to Securities Times, daily wind power statistics show that from January to February 2026, 81 wind power projects completed full-machine bidding, with a total capacity of 12.335 GW (excluding framework bidding, including international projects), involving 10 mainstream turbine manufacturers. Among them, electrical wind turbines performed notably, with a winning bid of 2,558 MW and a 20.74% market share, showcasing the operational strength and core competitiveness of leading companies and becoming a key highlight at the start of the year.

Regarding industry development patterns, the trend of increasing concentration continues, with the Matthew effect among top companies becoming more evident. Besides electrical wind turbines, companies like Goldwind, Envision, Yunda, and Mingyang Smart are following closely. The top five turbine manufacturers hold over 75% of the market share, with industry resources increasingly concentrated in leading firms with technological, financial, and delivery advantages, gradually stabilizing the competitive landscape.

Leverage funds: net purchases of these stocks

Data from Eastmoney Choice shows that since January this year, leveraged funds have net bought several wind power stocks, with Goldwind ranking first, with net financing exceeding 1.3 billion yuan; TianShun Wind Power ranks second, with net financing of 480 million yuan.

Stocks such as Taisun Wind, Xinqiang Lian, Hewang Electric, Zhonghuan Hailu, Jixin Technology, Tongyu Heavy Industry, Sany Heavy Energy, Haili Wind Power, and Zhenjiang Shares have net financing ranging from 424 million yuan to 30 million yuan.

Institutions: optimistic about profit recovery in turbine manufacturers and offshore wind exports

Huatai Securities released a research report on March 4, estimating that by 2026, new domestic wind power installations will reach 130 GW, including 120 GW onshore and 10 GW offshore. This forecast is based on high bidding volumes for wind turbines in 2025 and nearly 9 GW of offshore wind projects that have started construction but are not yet connected to the grid.

Huatai Securities stated that looking ahead, under the support of new demands such as direct green power connection and old-for-new upgrades, combined with the gradual increase in deep-sea wind capacity, domestic wind power installations are expected to maintain steady growth during the 14th Five-Year Plan. They remain optimistic about profit recovery in turbine manufacturers, offshore wind exports, and the operational leverage of core component manufacturers: 1. Profit recovery in turbine manufacturers: rising delivery ratios of onshore wind orders, coupled with increased offshore and export shares, are expected to support profit recovery, with hydrogen ammonia business opening a second growth curve. 2. Offshore wind exports: recent geopolitical conflicts have disrupted energy supply in Europe, and offshore wind, as a high-quality local resource, benefits from government subsidies and support, likely accelerating demand release; Europe’s local monopile capacity is tight, and demand may spill over to domestic manufacturers. 3. Operational leverage of core component manufacturers: our estimates suggest tight supply-demand for main shaft bearings, casting main shafts, and other components, with capacity releases from leading component companies supporting sustained performance growth.

Guojin Securities data shows that global wind power installations are expected to reach 196 GW in 2026, an 18% year-on-year increase, with 132 GW domestically and 64 GW overseas (up 37%). From 2025 to 2030, the overseas market is projected to grow at a compound annual rate of 14%. As a core offshore wind equipment, submarine cables will benefit directly from industry expansion, with industry leader Oriental Cable poised to benefit.

Guangfa Securities research reports indicate that domestic energy transition and the full market entry of new energy have shifted capital expenditure focus from photovoltaics to wind power. The overseas offshore wind market is also entering a rapid development phase. With the accelerated construction of large-scale bases like “Sago Desert,” deep-sea wind development, and upgrades of old turbines, combined with the ongoing offshore wind export efforts, the industry market space will further expand. Huatai Securities also pointed out that considering the high bidding volume for wind turbines in 2025 and nearly 9 GW of offshore wind projects under construction but not yet connected, domestic new installations are expected to reach 130 GW in 2026, with 120 GW onshore and 10 GW offshore. Looking ahead, supported by new demands such as direct green power connection and old-for-new upgrades, along with the gradual increase in deep-sea wind capacity, domestic wind power installations are expected to maintain steady growth during the 14th Five-Year Plan.

(Source: Eastmoney Research Center)