金吾财讯 | 华泰证券表示，11月17日，工信部发布《风电装备行业规范条件》《风电装备行业规范公告管理办法》，鼓励风电装备企业提升绿色化、智能化水平，积极推进国际化战略布局，强化质量安全管控，优化招投标体系，实现行业持续健康有序发展。该机构看好涨价订单交付、海外海上出货占比提升以及生产成本优化驱动风机制造盈利能力持续改善。该机构提到，价格端，25年以来陆风中标价提升10%+，且上下游已形成自律共识，本次工信部亦鼓励业主避免“唯价格论”+优化招投标规则，看好后续风机价格稳中向好。成本端，生铁废钢价格处于低位背景下，26年零部件价格有望保持稳定，叠加风机平台化+结构优化，或驱动整体成本下降。盈利端，Q3头部企业风机制造毛利率环比改善，随着Q4涨价订单陆续交付，叠加海外海上出货结构优化，以及经营效率提升带来单位费用下降，该机构看好26-27年风机制造毛利率持续改善。
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