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    Electric wind power performance presentation meeting in the third quarter of 2022


    December 1, 2022 - OrbitFin Earnings Transcripts

     

      Start Time: 2022-11-29 06:00:00

      End Time: 2022-11-29 07:00:00

      Statement: distinguished guests ,Investors,Dear netizens,hello everyone! Welcome to the third quarter performance briefing of Electric Wind Power in 2022. This event is hosted by Shanghai Electric Wind Power Group Co., Ltd,Shanghai Stock Exchange Information Network Co., Ltd. provides network platform support,Thank you for your attention and participation. October 27,Shanghai Electric Wind Power Group Co., Ltd. published the Third Quarter Report of 2022,Investors can visit the website of Shanghai Stock Exchange( http://www.sse.com.cn/ )Or this platform( http://roadshow.sseinfo.com/ ),Check relevant announcements. In order to facilitate investors to have a more comprehensive and in-depth understanding of the Company s operating results in the third quarter of 2022,Financial situation,The company decided to hold the third quarter of 2022 performance briefing of electric wind power,Major members of electric wind power management visited Shanghai Securities Roadshow Center,We will communicate with investors. You are welcome to participate actively. First of all, let s welcome guests from listed companies to make an opening speech

      Question: Please introduce the current technical route and respective advantages of the company

      Answer: Dear Investors,Hello. The company currently covers three technical routes: doubly fed,Direct drive,Semi direct drive, including direct drive,Semi direct driven wind turbines are the two mainstream technology routes for large offshore wind turbines,Both have their own characteristics and advantages. The direct drive unit has a simple drive structure,Low generator speed,Large volume,But it has high reliability,Advantages such as low operation and maintenance cost, high generator speed of semi direct drive unit,Small size,Compact structure,Compared with direct drive unit, it has more advantages in cost,However, it is necessary to focus on the design cooperation with other components such as the gearbox. Onshore wind power mainly pushes the doubly fed and semi direct drive routes according to the specific situation of the project,With the development of large-scale trend in the future,Semi direct drive will be the main direction. At present, offshore wind power is dominated by semi direct drive models in the middle and low wind speed areas,High wind speed area is dominated by direct drive models,With the improvement of technology and the capacity upgrade of semi direct drive models in the future,Considering the cost advantage,Marine products will also be mainly used for semi direct drive line models. Thank you

      Question: The company s supply chain management and future planning?

      Answer: Dear Investors,Hello. At present, most of the company s parts are purchased externally,And the company has long focused on cooperation with supply chain enterprises,And maintained a good partnership At the same time, in order to cope with the rise of materials,Pressure brought by the decline in the selling price of the complete machine,The company has taken measures to accelerate the penetration progress of core components and the layout of the supply chain. At present, the Blade Business Unit has been established,Drive Chain Business Department and Mixed Tower Business Department,It aims to achieve penetration and mastery of key core components from design technology and manufacturing process,And continuously penetrate into secondary materials,Enhance the company s ability to control the technology and cost of key core components. Thank you

      Question: Does the company have a plan for self production of parts?

      Answer: Dear Investors,Hello. The company has established Blade,Drive Chain and Mixed Tower Business Department,It aims to achieve penetration and mastery of key core components from design technology and manufacturing process,Enhance the company s ability to control the technology and supply chain of key core components. At the same time,The company plans to promote the self manufacture of some parts,In order to better achieve the goal of cost reduction and coordination with product development. Thank you

      Question: The company s blade R&D capability and whether carbon fiber technology has been used?

      Answer: Dear Investors,Hello. The company has mastered the key technologies of carbon fiber blade and glass fiber blade development at the same time,The selection of two technical paths is closely related to the development of the whole system. For example,Company SEW11.0-S102 blade for 208 model,EW8.5-S112 blade for 230 model,Carbon fiber technology has been applied. Thank you

      Question: Please,In the same market environment,Mingyang s performance is so good,Why are you so bad?

      Answer: Dear Investors,Hello. The reason for the decline of revenue scale in the third quarter,On the one hand, due to the influence of policies,The total installed capacity of offshore wind power in 2022 will decrease compared with that in 2021,So by the end of the third quarter,The delivery of offshore wind power of the Company decreased compared with the previous year; On the other hand, the order delivery progress in some market areas of the company in the first three quarters of this year is lagging behind,Failed to realize the product sales revenue as planned. The reason for the decline in profit is that the product sales revenue declined,At the same time, expenses still need to be paid,Make the net profit drop sharply,According to the periodic report disclosed by Mingyang,Part of the profits come from the power generation income and investment income of the wind farm. Thank you

      Question: Hello, Chairman,Several enterprises originally engaged in land breeze have entered into sea breeze with great momentum,Is it expected to maintain the first installed capacity of sea breeze this year

      Answer: Dear Investors,Hello. The company combines the technical accumulation of offshore wind power for many years,Good market reputation and brand effect,Relatively stable market position,In the future, efforts will be made to maintain the advantages of offshore wind power. The specific ranking of offshore installed capacity depends on the final installation this year. Thank you

      Question: Hello, Chairman,Does the company have any plans for mixed transformation?

      Answer: Dear Investors,Hello!,The Company conducts information disclosure in accordance with relevant laws and regulations,Matters that should be disclosed in accordance with relevant laws and regulations,The Company will perform its obligation of information disclosure in a timely manner. Thank you

      Question: The demand of wind turbine industry has increased significantly,But the price fell,The players inside earn a shout,No profit,When will the situation change?

      Answer: Dear Investors,Hello. After the full withdrawal of state subsidies,Lufeng from parity to low price,After a slight increase in the first half of the year,Recently, the bid winning price has declined again. After the peak of offshore wind power installation, the price has declined rapidly,At present, it is impossible to judge whether the price has reached the bottom. But I hope that the industry should remain rational,Oscillating downward in the midst of fluctuations,Finally, we will return to a level acceptable to all parties. Thank you

      Question: How many orders are in hand? How many orders for Haifeng? Some research reports that the company s orders in hand accumulated 9.9GW at the end of June,When will it be finished?

      Answer: Dear Investors,Hello. As of September 30, 2022,Cumulative orders in hand of the company 10,880.70 MW. According to historical data,The average lead time of wind turbine is 1-About 1.5 years. The actual delivery will be carried out as planned according to the contract signed with the owner. The domestic epidemic situation is repeated,Have a certain degree of impact on the project site construction and fan delivery,But each project is different. Thank you

      Question: How about the delayed completion of orders due to epidemic diseases? How much is the delay? How much is the plan?

      Answer: Dear Investors,Hello. In the first three quarters of this year, the order delivery progress in some market areas of the company is lagging behind,Failed to realize product sales revenue as planned. It is expected that some delayed delivery projects will be delivered in the fourth quarter and next year. Thank you

      Question: The new orders in the first three quarters of this year were 4.09GW,Accumulative orders in hand are 10.88GW. Domestic epidemic environment,How long is the expected delivery time of the original 6gw order,How long is the normal construction period of this year expected to be longer than that of previous years

      Answer: Dear Investors,Hello. Statistics based on historical data,The average lead time of wind turbine is 1-About 1.5 years. The actual delivery will be carried out as planned according to the contract signed with the owner. The domestic epidemic situation is repeated,Have a certain degree of impact on the project site construction and fan delivery,But each project is different. Thank you

      Question: What Mr. Miao said is the best. Does electric wind power have no profit? Look at the profit of Jinfeng in the Ming Dynasty

      Answer: Dear Investors,Hello. The reason for the decline of revenue scale in the third quarter,On the one hand, due to the influence of policies,The total installed capacity of offshore wind power in 2022 will decrease compared with that in 2021,So by the end of the third quarter,The delivery of offshore wind power of the Company decreased compared with the previous year; On the other hand, the order delivery progress in some market areas of the company in the first three quarters of this year is lagging behind,Failed to realize the product sales revenue as planned. The reason for the decline in profit is that the product sales revenue declined,At the same time, expenses still need to be paid,Make the net profit drop sharply accordingly The company will actively expand the market,Get more product orders,Take active measures to reduce the cost of the whole business chain,At the same time, continue to expand wind resource development business and service business,Strive to improve the profitability of the company Cost side: on the one hand, the company actively uses its technical advantages to promote the upgrading of mature products and the large-scale development of new products; On the other hand, actively promote the layout of technology penetration,From blade,Start with key core components such as drive chain,Penetrate and master the design technology and manufacturing process,Enhance the company s ability to control the technology and supply chain of key core components. At the same time,The company will also adopt lean manufacturing,Efficient logistics,Digital management and other measures to continuously optimize operation,Improve operational efficiency,Further cost control and cost reduction. For example,Actively explore ways to reduce blade transportation cost,Such as automatic blade lifting tooling,It can meet the lifting and transfer requirements of blades above 100m,The business side: the company continues to take the wind power business as the strategic fulcrum,Actively expand wind resource development business,Increase the share of post market service business,Seek more profit growth points

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