Yunda Holdings: On March 24, it received institutional research, with multiple institutions including Guosen Securities and China International Capital Corporation participating.

According to Securities Star, on March 26, 2026, Yunda Co., Ltd. (300772) announced that the company accepted institutional research on March 24, 2026. Participating institutions include Guosen Securities, China International Capital Corporation, Guohai Securities, Guojin Securities, Great Wall Securities, Yangtze Securities, Tianfeng Securities, Caitong Securities, and Morgan Stanley.

The specific content is as follows:

Q: Could you introduce the company’s order situation for 2025?

A: In 2025, the company added orders totaling 24,600.27 MW; as of December 31, 2025, the cumulative orders on hand are 45,475.84 MW, including projects with signed contracts that have not yet been executed and projects that have been bid but for which contracts have not yet been signed. Among these, 2MW-4MW (excluding 4MW) wind turbine units account for 967.30 MW, 4MW-6MW (excluding 6MW) wind turbine units account for 8,089.10 MW, and wind turbine units above 6MW account for 36,419.44 MW.

Q: The bidding price for wind turbine units increased in 2025; could you explain the reasons?

A: First, at the Beijing Wind Energy Exhibition in October 2024, 12 domestic manufacturers signed the “Self-Regulatory Convention for Maintaining a Fair Competitive Environment in the Chinese Wind Power Industry,” focusing on addressing issues like vicious low-price competition and unfair contract terms. Second, important national meetings have repeatedly emphasized the need to prevent and comprehensively rectify “involution-style” competition, leading some owners to actively respond and adjust bidding rules. Third, as the industry’s emphasis on the quality and reliability of wind turbines continues to rise, more owners tend to prefer high-quality, high-performance units with optimal cost per kilowatt-hour. Considering these factors, the bidding prices for wind turbines saw a slight increase in 2025.

Q: Could you provide an update on the development of the industry and the company’s overseas business?

A: Currently, the global consensus on energy transition has deepened, especially with escalating overseas conflicts raising energy security concerns, significantly enhancing the strategic position of renewable energy in the energy structure. In 2025, China’s wind power going overseas is accelerating, with leading domestic wind turbine manufacturers continuously securing overseas wind power project orders due to their rich applicable scenarios, efficient power generation capabilities, and stable operational performance. According to Bloomberg New Energy Finance statistics, Chinese companies occupy eight of the top ten global wind turbine manufacturers and have claimed the top six spots for the first time. Moreover, as Chinese brands, technologies, and standards expand their international influence with the growth of overseas installation capacity, the recognition of domestic manufacturers by overseas clients and financing institutions like foreign banks is increasing. The prospects for the overseas wind turbine market are promising. The company will accelerate its global strategic layout, intensify efforts to develop new overseas clients, and enhance the scale of overseas orders, creating future growth points for the company.

Q: Could you describe the company’s clean energy operations and EPC (Engineering, Procurement, and Construction) business situation for 2025?

A: In 2025, the company added approved/registered capacity for new energy (wind/solar) projects reaching 3118.26 MW. As of December 2025, the company has a cumulative grid-connected capacity of 1463.14 MW. The company’s subsidiary, Energy Construction Company, focuses on its core EPC business, coordinating market expansion, project performance, and operational management, striving to optimize its business structure, covering multiple sectors including EPC, construction management, and design, forming a more balanced business portfolio to steadily enhance market scale. In 2025, the total revenue from new energy EPC contracting reached 1.454 billion yuan.

Q: Could you provide an update on the company’s new energy consumption business development?

A: The company is focusing on local green electricity conversion in areas rich in wind and solar resources, continuously promoting diverse application scenarios such as “green electricity chemicals and green electricity fuel.” The business model is gradually transitioning from initial exploration to industrialization. The company is accelerating the layout of green methanol and related green fuel projects, enhancing its ability to coordinate the industrial chain from renewable energy supply, biomass raw material assurance to downstream consumption, and actively expanding international shipping and energy client resources, with the commercialization path for green fuels gradually being validated. In the future, the company is expected to establish a dual-driven development pattern of “new energy equipment manufacturing + green fuel solutions,” further enhancing its long-term growth potential and market recognition.

Yunda Co., Ltd. (300772) focuses on six main business segments: wind turbine equipment manufacturing, investment development and operation of new energy power plants, comprehensive energy services, energy storage system solutions, new energy EPC, and new energy consumption.

Yunda Co., Ltd.'s 2025 annual report indicates that the company’s main revenue for the year was 29.402 billion yuan, an increase of 32.45% year-on-year; the net profit attributable to the parent company was 340 million yuan, a decrease of 26.87% year-on-year; the net profit excluding non-recurring items was 293 million yuan, a decrease of 16.88% year-on-year. In the fourth quarter of 2025, the company’s single-quarter main revenue was 10.916 billion yuan, an increase of 32.01% year-on-year; the single-quarter net profit attributable to the parent company was 88.5035 million yuan, a decrease of 55.31% year-on-year; the single-quarter net profit excluding non-recurring items was 71.3232 million yuan, a decrease of 61.53% year-on-year; the debt ratio was 84.4%, investment income was 73.8574 million yuan, financial expenses were 12.859 million yuan, and the gross profit margin was 7.56%.

In the past 90 days, four institutions have given ratings on this stock, three with “buy” ratings and one with an “increase” rating; the average target price set by institutions in the past 90 days is 23.43.

The following is detailed profit forecast information:

Margin trading and securities lending data show that this stock has seen a net outflow of financing of 33.2453 million yuan in the past three months, with the financing balance decreasing; the net inflow of securities lending was 1.3212 million yuan, with the securities lending balance increasing.

The above content is organized by Securities Star based on public information and generated by AI algorithms (Wangxin Algorithm Registration No. 310104345710301240019), and it does not constitute investment advice.