On October 22, wind power stocks showed strong performance against market trends. By the close, <002080>中材科技 surged nearly 12% and <300850>新強聯 climbed 8.49%. Other stocks including <002202>金風科技, <002487>大金重工, <300772>運達股份, <301155>海力風電, and <002669>康達新材 also saw gains. In the Hong Kong market, <02208>金風科技 and others recorded upward movements as well.

Latest data reveals that the national newly added wind power grid capacity has exceeded 57.84 million kilowatts, accumulating to 580 million kilowatts, which accounts for 15.7% of the country's total installed power generation capacity. The power generation from scale enterprises in the wind sector represents 10.1% of the total electricity consumption.

China has maintained the world’s largest wind power installation scale for 15 consecutive years and is entering a new era with an annual increase in installed capacity exceeding 10 million kilowatts. Recently, during the 2025 Beijing International Wind Energy Conference and Exhibition, a joint declaration titled “Wind Energy Beijing Declaration 2.0” was released by representatives of over 1,000 global wind energy companies. This declaration outlines mid- to long-term development goals and necessary actions for the wind power industry.

It mentions that during the "14th Five-Year Plan" period, China's annual newly added installed capacity should not be less than 12 million kilowatts (doubling the targets set in 2020). Among these, the annual increase in offshore wind power capacity should be no less than 1.5 million kilowatts, ensuring that by 2030, the cumulative installed capacity of wind power in China reaches 1.3 billion kilowatts, and by 2035, it will be no less than 2 billion kilowatts, reaching 5 billion kilowatts by 2060.

Fueled by these positive developments, the domestic wind power industry chain has strengthened, with capital market expectations rising. Additionally, many publicly listed wind power companies have recently reported impressive Q3 performance, boosting sector confidence. <300850>新強聯 reported revenue of 3.618 billion yuan in the first three quarters, a year-on-year increase of 84.10%, achieving a net profit attributable to shareholders of 664 million yuan, soaring 1939.50% compared to the previous year. The company's profitability remains high, with a gross margin of 28.88% and a net margin of 18.94%, significantly exceeding last year’s levels.

As a player in the bearing industry, <300850>新強聯 has focused its products on wind power bearings. The company attributed its growth to a recovery in industry demand and effective market share expansion driven by its technological advantages. Meanwhile, its capacity utilization rate remains high, with optimized cost control measures resulting in increased gross margins for high-value-added products.

<002080>中材科技 reported revenues of 21.701 billion yuan in Q3, a year-on-year growth of 29.09%, with net profits attributable to shareholders soaring 143.24% to 1.48 billion yuan. Additionally, companies like <002669>康達新材 and <300850>廣達特材 have also disclosed improved Q3 performance forecasts. <300850>廣達特材 noted the gradual release of production capacity for wind turbine gearbox components, significantly enhancing processing equipment utilization and contributing to profitability through reduced fixed costs.

According to a recent research report from Caixin Securities, the wind equipment industry is expected to see significant performance realizations towards the end of the "14th Five-Year Plan," with notable improvements among listed companies. The firm believes that the "Two Seas" strategy is progressing well, as capacity expansion overseas may help domestic wind equipment firms gain a larger share of international markets.

Looking ahead, analysts suggest that, like other new energy sectors, the wind power industry is expected to gradually emerge from the current competitive phase, with outdated capacities being eliminated, which will further facilitate the recovery of performance across the industry chain. Zhou Likai, board secretary of Sany Heavy Energy, also stated that the worst price conditions for wind power have already passed, and profitability in the wind power sector is expected to improve significantly next year. Although performance may differ among companies, it is anticipated to be a relatively good year for the industry.