毛利率改善叠加海外扩张 风电板块盈利修复逻辑强化

金证研
Sep 26, 2025

今年以来,在“反内卷”背景下,风电行业通过行业自律和招标制度改革,风机价格维持上涨态势。随着风电行业中报披露,市场对风电盈利改善周期的认知逐步增强。预计风机盈利有望在三季度开始全面企稳回升,毛利率预计持续改善。同时,海外和海上风机的放量,有望打造风机的第二成长曲线。Wind 数据显示,上半年风电板块实现营业收入1926亿元,同比增长27.75%。其中,风机板块收入678亿元,同比增长43.94%;...

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