Market sources indicate that domestic wind turbine tenders by central state-owned enterprises have shown a robust recovery in July, with around 12.7 GW of projects launched since the start of the month. This represents a 256% increase compared to June 2025 and a 132% increase year-on-year.
Throughout July, several major power generation groups and energy companies initiated large-scale wind turbine procurement programs. Key actions include: China Energy Group starting its 2026 framework agreement for wind turbines, totaling approximately 15 GW; State Power Investment Corporation launching its second batch of scaled wind turbine procurement, with a capacity of 5.7325 GW; CGN recently issuing procurement notices for four wind power projects, with a total capacity of 2310 MW (2.31 GW); and Huaneng Group initiating centralized pre-procurement for wind turbine generators across 34 projects, totaling 4205.25 MW (about 4.2 GW).
In the week from July 20 to July 26 alone, total wind turbine tenders reached 4836 MW, involving seven developers. During the same period, the total capacity for opened wind turbine procurement bids was 550 MW. Furthermore, several large-scale projects saw concentrated bid openings from early to mid-July, for example, Shanghai Electric Wind Power won a near one million kW (993.3 MW) centralized procurement order from State Power Investment Corporation.
In a recent research report on the power equipment and new energy industry, Guojin Securities noted: against the backdrop of a strong recovery in tendering and owners actively accelerating supplier selection, the firm remains optimistic about leading wind turbine manufacturers whose current valuations are at relatively low levels and who are poised for a definite release of profitability elasticity in the future. This positive outlook extends to Hong Kong-listed companies in the wind power supply chain, including DAJIN (01081) and Goldwind Science & Technology (02208).
Market Outlook
US stock markets saw mixed performance overnight. The Dow Jones Industrial Average rose 537.24 points to close at 52,747.32, a gain of 1.03%. The S&P 500 index advanced 15.6 points to close at 7,428.78, up 0.21%. The Nasdaq Composite Index declined 55.17 points to close at 24,876.91, a decrease of 0.22%.
Most large-cap technology stocks moved higher, with Netflix, Alphabet, and SpaceX all gaining over 2%, Microsoft rising over 1%, and Nvidia edging up. Conversely, Tesla, Amazon, and Meta saw slight declines. Apple rose nearly 1%, hitting a new record high, bringing its total market capitalization to $4.99 trillion. The optical communication and memory storage sectors fell sharply, with Kioxia ADR and SanDisk both dropping over 14%, Corning down more than 12%, Coherent losing over 10%, and SK Hynix and Micron Technology falling nearly 9%.
Most popular Chinese concept stocks rose, with the Nasdaq China Golden Dragon Index climbing 1.08%. Autohome gained over 7%, while NetEase and JD.com rose over 2%. The Hang Seng Index ADR was up, translating to a closing level of 25,462.78 points, which is 151.93 points or 0.60% higher than the Hong Kong market close.
NYMEX WTI crude oil futures for the front-month contract fell $3.48 to settle at $79.13 per barrel, a decline of 4.21%. COMEX gold futures for the front-month contract dropped $48.20, or 1.18%, to settle at $4,028.8 per ounce.
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