What we are sharing today is: Sany Renewable Energy-688349-Sany Renewable Energy In-depth Report: Wind turbines are cutting-edge, and Shuanghai continues to break through

Report total: 32 pages

Sany Renewable Energy is a wind power company, and the following is a summary of its core contents:

1. Financial overview: In 2023, the operating income will reach 14.939 billion yuan, with a revenue growth rate of 21.21%, the net profit attributable to the parent company will be 2.007 billion yuan, the profit growth rate will be 21.78%, the gross profit margin will be 17.03%, the EPS will be 1.64 yuan, and the PE will be 18.04. It is expected that operating income and net profit attributable to the parent company will continue to grow from 2024 to 2026.

2. Business scope: The main business includes wind turbine products, wind turbine blades, operation and maintenance services, intelligent motors, RPC general contracting business, and new energy power station business (wind farm design and construction, operation and management, external power sales, transfer, etc.).

3. Technology and products: It has a variety of wind power generation system technologies, and its new models are on the same platform as sea and land12. X-16.XMW series, using doubly-fed + semi-direct drive route, single machine capacity 12. X&16.XMW, wind turbine diameter 270m, suitable for onshore and offshore.

4. Market position and development: Compete with Goldwind Technology, Mingyang Intelligent and other enterprises in the wind power industry. Since 2024, the company has won many bids, such as wind power projects in Shanxi, Hebei, Shaanxi, Inner Mongolia, Jilin and other places, with a capacity of 1,400MW, showing its market expansion achievements. At the same time, the company also participates in overseas market expansion and carries out business cooperation in many countries and regions, such as cooperation with Uzbekistan, Kazakhstan and other countries.

The following is an excerpt from the report