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Soochow: In Q3 2024, downstream delivery is gradually increasing, and the wind turbine gross margin is improving compared to the previous period.
It is estimated that the offshore wind power will install 7-8GW in 2024 and 13-15GW in 2025, with year-on-year increases of 25% and 100% respectively.
Express News | Shanghai Qifan Cable has invested to establish a new wire and cable company.
Qifan Cable\'s 2024 Third Quarter Report
Shanghai Qifan Cable (605222): Performance in the first half of the year is under pressure, looking forward to an acceleration in the delivery of submarine cable orders in the second half of the year.
Event: The company has released its 2024 semi-annual report, achieving revenue of 10.288 billion yuan in the first half of 2024, a decrease of 3.55% year-on-year; net income attributable to the parent company was 0.187 billion yuan, a decrease of 24.45% year-on-year; after deducting non-recurring items
Guosheng Securities: Significant improvement in wind turbine profitability, bullish on the growth of the offshore cable tower performance driven by the increase in offshore wind power generation in the second half of the year.
The offshore wind power bidding in the first half of 2024 is almost the same as that in the first half of 2023, while the onshore wind power bidding is impressive. The offshore wind power projects will gradually start in the second half of the year, and the bidding is expected to exceed expectations. Bullish on wind power construction in 2025.
Qifan Cable 2024 Semi-Annual Report
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