The semi-annual report of the wind power industry is not very good-looking. According to the statistics of the reporters, most wind power companies have limited growth in their operating income and profit margins, and some have even declined sharply. Only very few companies have seen significant growth.
The wind power company's fear of the worst decline in performance is probably Huarui wind power. According to its semi-annual report, the company achieved operating income of 3.09 billion yuan in the first half of the year, a year-on-year drop of 42.04%; net profit attributable to shareholders of listed companies was 25 million yuan, a year-on-year decrease of 96.25%. Prior to 2011, the company's net profit fell by about 73%. As a result, the company's stock price has fallen to less than 30% of the listing.
In the first half of 2012, Dongfang Electric achieved a total operating revenue of 20.011 billion yuan, an increase of 1.28% over the same period of the previous year. In the first half of 2012, the company achieved a net profit attributable to shareholders of the listed company of 1.244 billion yuan, a decrease of 19.11% over the same period of the previous year.
For the major reason for the sharp decline in net profit, Sinovel said that the slowdown in global economic growth has affected the overall investment in the wind power industry; the strengthening of grid management and the elimination of power grid problems have affected the profitability of wind farms and the adjustment of project approval policies. The scale and speed of the implementation of wind farm construction have declined.
Dongfang Electric Group believes that in the first half of this year, on the one hand, market demand continued to be sluggish, thermal power demand continued to shrink, the nuclear power market was still not substantively started, wind power market competition became fiercer, and international market demand dropped steeply, which brought about extreme market development for the company. Big difficulties and challenges. On the other hand, due to factors such as national policies and lack of funds from owners of power projects, the progress of construction of some power projects has become uncertain, which has made it more difficult for companies to plan for the recovery and scheduling of loans.
Lin Boqiang, deputy dean of Xinhua Business School, thinks that the overall situation of China’s wind power companies is worrying. In an interview with the China Economic Times, he said: “There are two reasons for the decline in the 2012 interim earnings of China’s wind power companies. The dominant factor is the downturn in China’s economy. The impact of the situation, followed by the U.S. 'double reverse' and the European Union investigations have all aggravated the deterioration of the wind power market."
The growth of individual companies highlights the reporter's discovery that from January to June, Tianshun Wind's total operating revenue increased by 65.11% over the same period of last year, operating profit increased by 90.21% over the same period of last year, and total profit increased by 85.79%. It is one of the few wind power companies with outstanding growth. One of the companies.
A person close to Tianshun Wind Energy's board of directors said in an interview with this reporter: “The operating profit, total profit, and return attributable to parent company of Tianshun Wind Power reported a substantial increase, which was mainly due to the company's international development strategy. The company is currently the world's leading manufacturer of wind tower equipment and one of the largest wind tower providers in the world. Wind tower products are of high quality and conform to international certification standards and are very popular overseas. In 2012, the company's production efficiency and production capacity are significant. As a result, overseas business development has reached a higher level."
When the reporter checked the report, it was discovered that during the first six months of 2012, Tianshun Wind's sales revenue from overseas sales increased by 181.77% over the same period of last year, while domestic sales revenue decreased by 85% from the same period of last year.
In response to the dramatic increase in the annual performance of individual wind power enterprises, Lin Boqiang told this reporter: “The emergence of this situation is more accidental. China’s wind power industry has been exhausted, and with the entry into force of the double counter- agreement, the second half of this year, China The wind power industry may fall into the bottom."
For the follow-up development of Tianshun Wind Power, the above-mentioned personages said: “The company pays great attention to strategic planning and layout. First, in June 2012, Tianshun Wind Energy successfully acquired all operating assets of Vestas’ Varde Wind Tower factory in Denmark, September 1st. After the assets are delivered, they can be put into production directly, which is an important step for Tianshun in the layout of the international wind farm base.Second, the company focuses on the development theme of clean energy, looks at the future development goals of the company, and actively promotes the construction of offshore wind tower projects. The company's offshore wind power projects will be completed and put into operation next year. Third, the company will also continue to expand its industrial chain around the main industry. Currently, three subsidiaries in Beijing, Guangxi, and Baicheng have been established to actively promote the development of wind farm projects."
Countermeasures In the face of the decline in the performance of the interim report, wind power companies have sought to cope with it. The development of overseas markets has become a choice.
Wind power tower companies, Taisheng Wind Power and Tianshun Wind Power, which were directly under “double reverse†sanctions, chose to build plants in Canada and Denmark.
Goldwind Technology's largest overseas project, the 109.5MW Shady Oaks wind farm in Illinois, has been successfully connected to the grid and received the first 2.5MW unit sales project in the United States in the first half of the year. In Australia, Goldwind completed the transfer of the first wind power project Mortons Lane Wind Farm as planned to create value for customers in expanding overseas markets; the company’s first project in the African continent has been successfully connected to the Ethiopian wind farm; the first project in South America is Ecuador. Altitude project is under construction.
Dongfang Electric also stated that in the second half of 2012, it will go all out to open up domestic and foreign markets, and will continue to improve its product competitiveness to achieve the company's sustained and stable development.
Lin Boqiang suggested that the wind power enterprises should shrink strategically. In his opinion, companies can ensure the smoothness of the capital chain through layoffs, restructuring, and so on. In addition, the government needs to rescue the market and support the development of wind power companies through financial subsidies and tax incentives.
The above-mentioned Tianshun wind energy people told this reporter that there are two voices for the development of wind power in China: First, due to the rapid development of previous years, the overcapacity in the wind power industry, coupled with the “double opposition†of the United States and the European Union, China Wind power began to decline, and now it can be said that the lowest valley. Second, some people believe that the gross profit margin of China's wind power equipment has begun to rebound, and the development of wind power in China has improved. "However, the domestic wind power market should enter the industry consolidation period. In the future, the survival of the fittest will surely win. A group of strong wind power companies will win, and some weaker companies will be eliminated."
The wind power company's fear of the worst decline in performance is probably Huarui wind power. According to its semi-annual report, the company achieved operating income of 3.09 billion yuan in the first half of the year, a year-on-year drop of 42.04%; net profit attributable to shareholders of listed companies was 25 million yuan, a year-on-year decrease of 96.25%. Prior to 2011, the company's net profit fell by about 73%. As a result, the company's stock price has fallen to less than 30% of the listing.
In the first half of 2012, Dongfang Electric achieved a total operating revenue of 20.011 billion yuan, an increase of 1.28% over the same period of the previous year. In the first half of 2012, the company achieved a net profit attributable to shareholders of the listed company of 1.244 billion yuan, a decrease of 19.11% over the same period of the previous year.
For the major reason for the sharp decline in net profit, Sinovel said that the slowdown in global economic growth has affected the overall investment in the wind power industry; the strengthening of grid management and the elimination of power grid problems have affected the profitability of wind farms and the adjustment of project approval policies. The scale and speed of the implementation of wind farm construction have declined.
Dongfang Electric Group believes that in the first half of this year, on the one hand, market demand continued to be sluggish, thermal power demand continued to shrink, the nuclear power market was still not substantively started, wind power market competition became fiercer, and international market demand dropped steeply, which brought about extreme market development for the company. Big difficulties and challenges. On the other hand, due to factors such as national policies and lack of funds from owners of power projects, the progress of construction of some power projects has become uncertain, which has made it more difficult for companies to plan for the recovery and scheduling of loans.
Lin Boqiang, deputy dean of Xinhua Business School, thinks that the overall situation of China’s wind power companies is worrying. In an interview with the China Economic Times, he said: “There are two reasons for the decline in the 2012 interim earnings of China’s wind power companies. The dominant factor is the downturn in China’s economy. The impact of the situation, followed by the U.S. 'double reverse' and the European Union investigations have all aggravated the deterioration of the wind power market."
The growth of individual companies highlights the reporter's discovery that from January to June, Tianshun Wind's total operating revenue increased by 65.11% over the same period of last year, operating profit increased by 90.21% over the same period of last year, and total profit increased by 85.79%. It is one of the few wind power companies with outstanding growth. One of the companies.
A person close to Tianshun Wind Energy's board of directors said in an interview with this reporter: “The operating profit, total profit, and return attributable to parent company of Tianshun Wind Power reported a substantial increase, which was mainly due to the company's international development strategy. The company is currently the world's leading manufacturer of wind tower equipment and one of the largest wind tower providers in the world. Wind tower products are of high quality and conform to international certification standards and are very popular overseas. In 2012, the company's production efficiency and production capacity are significant. As a result, overseas business development has reached a higher level."
When the reporter checked the report, it was discovered that during the first six months of 2012, Tianshun Wind's sales revenue from overseas sales increased by 181.77% over the same period of last year, while domestic sales revenue decreased by 85% from the same period of last year.
In response to the dramatic increase in the annual performance of individual wind power enterprises, Lin Boqiang told this reporter: “The emergence of this situation is more accidental. China’s wind power industry has been exhausted, and with the entry into force of the double counter- agreement, the second half of this year, China The wind power industry may fall into the bottom."
For the follow-up development of Tianshun Wind Power, the above-mentioned personages said: “The company pays great attention to strategic planning and layout. First, in June 2012, Tianshun Wind Energy successfully acquired all operating assets of Vestas’ Varde Wind Tower factory in Denmark, September 1st. After the assets are delivered, they can be put into production directly, which is an important step for Tianshun in the layout of the international wind farm base.Second, the company focuses on the development theme of clean energy, looks at the future development goals of the company, and actively promotes the construction of offshore wind tower projects. The company's offshore wind power projects will be completed and put into operation next year. Third, the company will also continue to expand its industrial chain around the main industry. Currently, three subsidiaries in Beijing, Guangxi, and Baicheng have been established to actively promote the development of wind farm projects."
Countermeasures In the face of the decline in the performance of the interim report, wind power companies have sought to cope with it. The development of overseas markets has become a choice.
Wind power tower companies, Taisheng Wind Power and Tianshun Wind Power, which were directly under “double reverse†sanctions, chose to build plants in Canada and Denmark.
Goldwind Technology's largest overseas project, the 109.5MW Shady Oaks wind farm in Illinois, has been successfully connected to the grid and received the first 2.5MW unit sales project in the United States in the first half of the year. In Australia, Goldwind completed the transfer of the first wind power project Mortons Lane Wind Farm as planned to create value for customers in expanding overseas markets; the company’s first project in the African continent has been successfully connected to the Ethiopian wind farm; the first project in South America is Ecuador. Altitude project is under construction.
Dongfang Electric also stated that in the second half of 2012, it will go all out to open up domestic and foreign markets, and will continue to improve its product competitiveness to achieve the company's sustained and stable development.
Lin Boqiang suggested that the wind power enterprises should shrink strategically. In his opinion, companies can ensure the smoothness of the capital chain through layoffs, restructuring, and so on. In addition, the government needs to rescue the market and support the development of wind power companies through financial subsidies and tax incentives.
The above-mentioned Tianshun wind energy people told this reporter that there are two voices for the development of wind power in China: First, due to the rapid development of previous years, the overcapacity in the wind power industry, coupled with the “double opposition†of the United States and the European Union, China Wind power began to decline, and now it can be said that the lowest valley. Second, some people believe that the gross profit margin of China's wind power equipment has begun to rebound, and the development of wind power in China has improved. "However, the domestic wind power market should enter the industry consolidation period. In the future, the survival of the fittest will surely win. A group of strong wind power companies will win, and some weaker companies will be eliminated."
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