Wind Power Giant Goldwind Surges Over 9% on Subsidiary's IPO Progress and Sector Optimism

Shares of Goldwind Science&Technology Co.,Ltd. (ASX: 02208) have surged more than 9% in Hong Kong trading.

At the time of writing, the stock was up 9.13% to HK$10.64, with a trading turnover of HK$279 million.

The upward move follows recent developments regarding its investee company, LandSpace. On June 29, the Shanghai Stock Exchange website indicated that LandSpace has updated and submitted relevant financial materials, with the status of its STAR Market IPO review restored to "under inquiry."

On the same day, LandSpace announced via its official WeChat account that the static fire test for the Zhuque-3 reusable launch vehicle was successfully completed at the Dongfeng Commercial Aerospace Innovation Test Zone. The test team will proceed with launch preparations according to the established plan, making full preparations for the upcoming flight test mission.

It is reported that Goldwind holds a 4.14% stake in LandSpace through a subsidiary.

Analysts at Guojin Securities express a positive outlook for the wind power sector in the second half of the year, citing potential alignment across three key dimensions: earnings, overseas orders, and tender demand.

Regarding sector earnings, the industry's installation pace is expected to return to a pattern of slower first half followed by stronger second half. Combined with declining raw material prices and an increasing proportion of high-value turbine order deliveries, the firm anticipates a potential inflection point for sector earnings in the third quarter.

Concerning overseas orders, the brokerage believes the lower-than-expected offshore wind orders from Europe in the first half were primarily due to project owners' pacing issues, with the underlying demand logic remaining sound. It expects order volumes to pick up significantly in the latter part of the year.

In terms of tender demand, approval data for domestic projects across various provinces from January to May remains at a favorable level. The firm is optimistic about a recovery in tender demand during the second half.