Wind power manufacturing weak "cold wind" covering parts industry

In the past few days, many wind power component manufacturers, including Sinoma Technology, Tianqi, Tianma, Tianshun Wind Power, etc., released the 2011 interim report. According to the data, the profitability of parts and components manufacturers, including wind turbine blades, bearings, and towers, which accounted for more than half of the total cost of typhoon generators, generally declined during the first half of the year.

Since the beginning of this year, the domestic wind power equipment manufacturing industry has been affected by many factors such as equipment quality, downstream project approval and grid connection, and the entire industry has experienced a weak trend. From the current poor performance of parts and components companies in the first half of the year, it can be seen that the “cold stream” that the industry has caused has spread to the wind power component manufacturing industry. In the future, the competition in the wind power component market will be even fiercer, and this will also increase the concerns of the industry about the decline in the quality of wind power equipment.

Reduction of profitability of major companies The components of wind turbines consist mainly of towers, hubs, nacelles, generators, blades, gearboxes, and electronic control systems. Among them, the total cost of the three parts of the blade, tower, and gear box accounted for more than half of the total cost of the entire machine. The performance of the major listed companies involved in these three major links during the first half of the year was not satisfactory.

For the blades, Sinoma Technology, one of the leading companies, reported that the company’s net profit fell 12.82% year-on-year in the first half of the year. Xinmao science and technology due to wind power blade is difficult to form a large-scale sales, the company's first-half net profit loss of 49.92 million yuan.

In respect of towers, Tianshun Wind Power, which has grown rapidly in recent years, saw revenues from towers and related products increase by 45.48% year-on-year in the first half of the year, but its gross profit margin decreased by 6.73% to 22.24%. Another company, Taisheng Wind Energy, also forecasted earlier. In the first half of the year, the company's net profit fell by 58% to 61%, mainly due to fierce competition in the tower product market and lower prices.

In terms of gearboxes, China High Speed ​​Transmission Co., Ltd., the largest domestic wind power gearbox listed company, had previously announced that it expects net profit for the first half of 2011 to be significantly lower than RMB 5.6349 million in the same period of last year, mainly due to the average selling price of wind power gearbox products. Fell.

The relevant market analysis pointed out that due to the conduction effect between the upstream and downstream industries of wind power, the upstream parts and components suppliers in the first half of the year were generally affected by factors such as “consequent construction capital bottleneck” and “blade market expansion bottleneck” of wind power, and profitability was reduced. Inevitably.

The industry is faced with a disorderly competition situation The above-mentioned companies in the mid-year report almost all agreed that the main reason for the decline in the company's product gross margin and profitability was the product prices caused by fierce competition in the product market. It is understood that at present, there are as many as hundreds of companies engaged in the production of wind power components in China, of which more than 100 companies have only involved in the wind turbine tower business.

Tyson Wind Energy disclosed in its initial prospectus issued in September 2010 that there are currently fewer professional wind turbine tower builders, and that non-specialized wind turbine tower manufacturers do not require special licenses or authorizations for the wind turbine towers, and the technical threshold is also Not high, many newcomers bid for and compete at lower prices, and the industry is faced with a disorderly competition.

In the field of wind power blades, this disorderly competition has caused some companies to retreat. In May of this year, Xinmao Technology announced in June that it planned to transfer 62.04% equity of Xinmao Wind Energy Co., Ltd. held by the company for 33,451,200 yuan. The company stated that it has been unable to bear the continuous loss of wind power performance. In recent years, Tianqi shares, in which the blade business has continued to deteriorate, said that it will focus on developing products outside the wind power industry.

Experts pointed out that low-cost disorderly competition in the wind power equipment industry has always been a chronic problem in the industry, but more before it was in the field of wind power machine manufacturing, and now wind power components industry also appeared in this clue, it really caused concern. In recent years, the quality problems continuously exposed by wind power equipment have become one of the limiting factors in the development of the industry. With the looming development of the price war in the components and parts sector, it may increase the decline in the quality of wind power equipment.

A report previously issued by the Renewable Energy Special Committee of the China Comprehensive Resources Utilization Association pointed out that it is expected that after 2012, domestic wind power equipment will usher in the major examination period. In response to this, the industry has been calling for policy and technology to introduce wind power equipment, including parts and components, technology and market access threshold as soon as possible.