Daily Investment Strategy
Daily focus：Goldwind Technology（2208）
Goldwind Technology expects significant growth in its core wind turbine business in 2025, with a target shipment of 28GW, up 75% YoY from 16GW in 2024. Management expects the gross profit margin of domestic onshore wind power to improve by about 2 percentage points, mainly due to the maturity of hybrid drive technology and the effect of scaled production. The overall gross profit margin of turbines is expected to rise to 7% (5% in 2024). The overseas order target exceeds 6GW (about 4GW in 2024), with a focus on emerging markets. The wind farm development segment plans to add 2.5GW of grid-connected capacity and dispose of 1.5-2.0GW of assets to optimize cash flow. The related capital expenditure is expected to be about RMB10bn, with a net capital requirement of RMB6.4bn.
Reports suggest Trump may impose a 20% tariff on most imported goods
According to media reports on Tuesday, the Trump administration is considering imposing a 20% tariff on most U.S. imported goods. However, the report, citing three informed sources, stated that Trump has not yet made a final decision, but the news has once again raised market uncertainty concerns. In terms of economic data, the ISM Manufacturing Index was announced at 49, below the market expectation of 49.5 and the previous value of 50.3, indicating the index has fallen back into contraction territory. Among the details, the new orders index further contracted to 45.2, and new export orders fell from 51.4 to 49.6.
On Tuesday, the Hong Kong Stock Connect recorded a net inflow of HKD 19.9 billion, with the Tracker Fund of Hong Kong (2800) recording the highest net inflow of HKD 8.29 billion, followed by the Hang Seng China Enterprises Index (2828). Xiaomi Corporation (1810) recorded the highest net outflow of HKD 612 million, followed by Akeso, Inc. (9926).
Cheung Cho Shing, Joseph is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to:https://apps.sfc.hk/publicregWeb/indi/ACQ030/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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