On the evening of April 14th,Mingyang IntelligencePublished the 2021 annual report. 2021,Mingyang IntelligenceaccomplishOperating income27.158 billion yuan, a year-on-year increase of 20.93%; attributable to the parent companyshareholderofnet profit3.101 billion yuan, a year-on-year increase of 125.69%;interest rate21.43%, a year-on-year increase of 2.86 percentage points.
Mingyang IntelligenceIn the annual report, it was pointed out that during the reporting period, the company was based on the main business of wind turbine manufacturing, and further deepened the semi-direct drive technology route, leading the global process of large-scale units. In terms of offshore wind power technology, we actively consolidated our competitive advantages and achieved the successful grid connection of China’s first floating wind turbine. At the same time, the company strives to explore wind power aftermarket services and overseas markets, and achieve large-scale sales in overseas markets such as Europe and Southeast Asia. In addition, the company has promoted the further iteration of the business model of “rolling development” of the company’s power station assets by placing equal emphasis on industry and capital. Through continuous digging in the wind power industry and the coordinated layout of the entire industry chain of wind, solar, storage and hydrogen, Mingyang Intelligence has continuously strengthened its leading position in the field of intelligent new energy.
Industry “capacity expansion” boosts high-quality growth
Stimulated by both demand and economic benefits, as China’s onshore wind power enters the first year of full parity, the scale of new tenders for my country’s onshore wind power will increase significantly in 2021. According to incomplete statistics, in 2021, the new tender scale of my country’s onshore wind power will exceed 57.85GW, making it the year with the highest tender scale in the history of China’s wind power development.
In terms of offshore wind power, according to statistics from the National Energy Administration, China will add 16.9GW of offshore wind power capacity in 2021, a year-on-year increase of more than 161%. Statistics from Bloomberg show that in 2021, 80.02% of global offshore wind power additions will come from China. By the end of 2021, the cumulative installed capacity of my country’s offshore wind power reached 26.39GW, ranking first in the world in terms of cumulative installed capacity.
Relying on leading technological advantages and good customer service capabilities, the service capabilities and levels of Mingyang Intelligent’s intelligent new energy overall solutions have been continuously improved, and continued to achieve industrial growth opportunities and the company’sperformanceThe effective transformation between steady growth has created a sample of high-quality development for the entire wind power field.
Looking back at the performance of Mingyang Intelligence from 2019 to 2021, it can be found that the company’s operating income reached 10.493 billion yuan, 22.457 billion yuan and 27.273 billion yuan respectively, with an average annual compound growth rate of 60%.
In addition, on the evening of April 7, Mingyang Intelligence disclosed its performance forecast for the first quarter of 2022. The company expects to achieve a net profit of 1.3 billion to 1.55 billion yuan in the first quarter, a year-on-year increase of 408.02% to 505.72%; 1.29 billion yuan to 1.54 billion yuan, a year-on-year increase of 440.93% to 545.76%. On the basis of the high increase in the shipment of Haifeng wind turbines brought about by the rapid installation of Haifeng in 2021, the delivery scale of wind turbines in the first quarter of 2022 will continue to increase at a high proportion, and will continue to maintain a leading position in the industry.
Sinolink SecuritiesResearch reportAccording to the analysis, through technological innovation and business model innovation, Mingyang Intelligence has gradually developed into a leading domestic and globally influential smart energy enterprise group.
Continuous R&D investment
In the process of fully implementing the “dual carbon” goal, in the face of a new market environment, Mingyang Intelligent fully utilizes the advantages of the leading and semi-direct drive technology developed by the company, continuously increases research and development investment, and promotes the large-scale unit. Onshore and offshore windmotorGroup innovation and the upgrade of the intelligent power plant management platform, etc., continue to lead the development of China’s wind power industry.
During the reporting period, Mingyang Intelligent’s R&D investment reached 1.054 billion yuan, a year-on-year increase of 42.28%, and this investment accounted for 31.76% of the annual net profit. In the previous 2019 and 2020, the company’s R&D investment has reached 467 million yuan and 741 million yuan respectively.
In 2021, Mingyang Intelligent will focus on the technical route of compact semi-direct drive fans,motorThe large-scale group further reduces the kWh cost of wind power generation and enhances the competitiveness of the wind power industry. Mingyang Intelligent has successively completed the full-power grid-connected operation of the MySE8.3-180 semi-direct drive offshore anti-typhoon unit in Xinghua Bay, Fujian.Launched MySE7.0-200, the world‘s largest onshore wind turbinemotorGroup and MySE16.0-242, the world‘s largest offshore wind turbine, further lead the wave of large-scale wind turbines. In particular, on December 7, 2021, the “Three Gorges Leader” installed with Mingyang’s intelligent MySE5.5 floating wind turbines was officially connected to the grid for power generation. This is the first national-level floating demonstration project. At the same time, this breakthrough also made Mingyang Smart has the first floating wind turbine to be put into commercial operation in the Asia-Pacific region.
(Article source: ChinasecuritiesReport · China Securities Network)