Freight. From January to April, national railways cumulatively completed freight volume of 1.727 billion mt, up 2.8% YoY; freight turnover reached 1,227.427 billion mt-km, up 5.4% YoY. In April, freight volume reached 446 million mt, up 4.3% YoY; freight turnover reached 320.623 billion mt-km, up 6.3% YoY. By commodity category, from January to April, national railways cumulatively transported coal (920 million mt), containers (349 million mt), and fertilizers & pesticides (21.15 million mt), up 3.4%, 9.1%, and 14.6% YoY respectively, with key commodity transportation effectively guaranteed. Fixed asset investment. From January to April, national railway fixed asset investment totaled 200.8 billion yuan, up 3.2% YoY, with railway construction advancing with high quality and efficiency.

US April PPI was up 6% YoY, the highest since December 2022, versus expectations of 4.9%, with the prior reading revised from 4.00% to 4.3%. April PPI was up 1.4% MoM, the highest since March 2022, versus expectations of 0.5%, with the prior reading revised from 0.50% to 0.7%.

On May 14-15, 2026, the SMM WCCE 2026 (4th) Wire & Cable Industry Development Conference and Industrial Exhibition will grandly open at the Suzhou International Conference Hotel, focusing on precise matchmaking across the cable industry chain. With full-chain resource integration and efficient supply-demand matching at its core, the exhibition builds a quality bridge for business negotiation and technical exchange among industry partners. Shaanxi Kunlan Cable Manufacturing Co., Ltd. has a team of professional technical personnel and workers, and has established a provincial-level enterprise technology R&D center, providing strong technical assurance for product quality control, improvement, and new product R&D. As a modern technology-oriented manufacturing enterprise integrating R&D, production, sales, and services, the company has always focused on wire and cable. It will showcase a variety of high-quality wire and cable products in multiple specifications at the exhibition, injecting new vitality into the industry. Shaanxi Kunlan Cable Manufacturing Co., Ltd. was established on April 19, 2016. It is a modern professional wire and cable manufacturing enterprise integrating R&D, production, sales, and technical services . Its production site is located in the provincial-level economic development zone in Linyou County, Baoji City, covering an area of approximately 50,000 m², with an annual capacity exceeding 2 billion yuan. With over a decade of deep cultivation in the cable field, the company has become a highly competitive and capable enterprise in China's cable sector, backed by its solid product quality, comprehensive qualification system, and customized service capabilities. The company possesses leading professional production equipment and detection instruments in and outside China, strictly manufactures in accordance with national standards and international organization standards, and has built a closed-loop quality system covering raw material selection, full production process control, and rigorous finished product inspection before delivery, establishing a complete and well-rounded product system. The company mainly sells household wiring cables, low/medium/high voltage power cables, control cables, mineral-insulated fireproof cables, coal mine cables, aerial insulated cables, aerial bundled cables, pre-branched cables, rubber-sheathed cables, flame-retardant cables, fire-resistant cables, low-smoke halogen-free cables, irradiation-crosslinked cables, etc. It can design and produce specialty cables according to client requirements . The sales network covers the entire country, and the company has established long-term strategic partnerships with key project entities including State Grid Corporation of China, China Railway Group, CNNC, China Energy Engineering, China Railway Construction, AVIC, China Minmetals, China National Chemical Engineering, China State Construction, Xi'an Metro, Shaanxi Construction Group, Shaanxi Coal Group, Yanchang Petroleum Group, China Resources Land, among others. Company Qualifications : The company has obtained the National Industrial Product Production License, National Compulsory Product CCC Certification, Quality/Environmental/Occupational Health and Safety Management System Certification, ECM Certification, CNNC Qualified Supplier Certification, State Grid Certificate of Compliance, Coal Mine Safety Certification, etc. The company has been recognized as a AAA Credit Enterprise in Shaanxi Province, an Advanced Enterprise for Honest Business Operations in Shaanxi Province, and a Trusted Consumer Unit in Shaanxi Province. It has received honors including "Growth Enterprise," "High-tech Enterprise," "Above-scale Enterprise," "Technology Little Giant Enterprise," "Specialized, Refined, Differentiated and Innovative Enterprise," and "Industrial Enterprise R&D Center." Adhering to the business philosophy of "Integrity, Pragmatism, Cooperation, and Win-win," Shaanxi Kuncable has always upheld its commitments of "Domestic Excellence, Technology and Environmental Protection," "National Standard Quality, Safe and Durable," and "Guaranteed Full Meters, Tenfold Compensation for Shortages," serving a broad range of users with the mission of "Quality Products and Satisfactory Service." Product Display Shaanxi Kuncable Cable Manufacturing Co., Ltd. will continue to focus on the wire and cable industry, driving product upgrades through technological innovation and building a solid foundation for development through rigorous quality control. The company is committed to becoming a benchmark enterprise in the wire and cable industry and realizing its vision of "Going Global, Facing the World"! May 14-15, 2026, Suzhou International Conference Hotel, Jiangsu , we welcome friends from all sectors to attend the conference in person and visit the booth of Shaanxi Kuncable Cable Manufacturing Co., Ltd. (E28-29) to experience up close the outstanding quality and technological strength of Shaanxi Kuncable, explore new cooperation opportunities, and open a new chapter for the industry together. SMM WCCE 2026 (4th) Wire and Cable Industry Development Conference & Industrial Exhibition May 14-15 Suzhou International Conference Hotel, Jiangsu Participating Enterprises: Qifan Cable, Kunyi Cable, Senyuan Cable, Sanwu Cable, Huili Cable, Wanma Co., Ltd., Xinhai High Conductivity, Chenfeng Yongliang, Xinhuang Group, Dongwu Futures, Guojia Conductor, Hongxing Meike, Dongfeng Cable, Qijia Industrial, Beijing Shougang Ferroalloy, Xinhongye, Yingtan Chaolong, Meichuangli, Jiuli Electric, Xinzi Nengke, Xindongang Electric, Aerospace Electric, Guochu Logistics, Jielüda, Jinhuijia, Xindian Aluminum Alloy, Gangwei Ultrasonic, Jinrui Qianyuan... Click to View ☛ ｜

Capacity side, the domestic alkaline electrolyzer market maintained at 43.77 GW, and the PEM electrolyzer market remained at 2.7 GW, with no new capacity added. No offline public delivery information was available this week. Electrolyzer project updates: Yulin Institute of Clean Energy Innovation, Chinese Academy of Sciences : The institute issued a tender for the procurement of megawatt-scale alkaline electrolyzers and hydrogen-oxygen separation and purification modules. The procurement includes megawatt-scale alkaline electrolyzers and hydrogen-oxygen separation and purification equipment, with a budget of 3.18 million yuan. The equipment will be used for a hydrogen production project from coal chemical wastewater coupled with freshwater production. It is understood that Dalian Chemical Engineering Design Institute Co., Ltd. previously won the bid for the project design. Inner Mongolia Green Hydrogen Steel Union Technology Co., Ltd.: The company announced the winning bidder for the civil engineering part of Sections 1 and 2 of the construction project for the full green steel production line integrating green electricity-green hydrogen shaft furnace reduction-electric furnace short process. It is understood that both sections were won by China Railway Construction Bridge Engineering Bureau Group Fourth Engineering Co., Ltd. (including consortium partner: Tianjin Tianhengda Environmental Protection Engineering Co., Ltd.). Shanghai Reshaping Energy Group Co., Ltd. : Reshaping Energy and China MCC5 Group Corp., Ltd. recently formally partnered by signing a cooperation agreement, establishing a comprehensive partnership. Additionally, both parties jointly signed a cooperation memorandum for the Ningxia Sun Mountain Integrated Wind-Solar-Hydrogen-Methanol Project. Moving forward, the two parties will collaborate to promote the construction of hydrogen production projects using wind and solar renewable energy, and coordinate with relevant parties to advance the construction of green methanol synthesis projects, aiming to create a benchmark "green electricity-green hydrogen-green methanol" industry chain project in north-west China. SPIC : The list of prospective winning bidders for the 99th centralized tender in 2025 (Jilin Power Share Lishu Wind-Solar Green Hydrogen Production and Biomass Coupled Green Methanol Project PEM Water Electrolysis Hydrogen Production Equipment) was announced. The first prospective winning bidder: Changchun Green Dynamic Hydrogen Energy Technology Co., Ltd., with a bid price of 30.88 million yuan; the second prospective winning bidder: Shaanxi Xingran Technology Co., Ltd., with a bid price of 36.4265 million yuan. It is understood that the Jilin Power Share Lishu Wind-Solar Green Hydrogen Production and Biomass Coupled Green Methanol Project is located in Siping City, Jilin Province, and plans to construct one set of 2000 Nm³/h PEM water electrolysis hydrogen production system, with a PEM hydrogen production scale of 2000 Nm³/h. The project is scheduled to start construction in August 2025, with a total planned duration of 22 months. The tender scope includes the PEM water electrolysis hydrogen production system and auxiliary systems, including but not limited to 4 PEM hydrogen production electrolyzers each with a measured hydrogen production rate of 500 Nm³/h under rated conditions, one set of 2000 Nm³/h hydrogen purification skid, and 4 sets of IGBT rectifiers. Windey Energy Technology Group Co., Ltd.: The tender for the biomass gasification process package and technical services for the first phase of the Handan Biomass Green Methanol Project was released. The project's main entity is Windey Energy Technology Group Co., Ltd. It is understood that the project primarily adopts the biomass pressurized bubbling fluidized bed gasification process. The scope of the process package extends from the atmospheric raw material receiving hopper of the gasification framework to the outlet of the syngas scrubber, includes the ash and slag discharge unit, and involves the discharge of wastewater after ammonia stripping treatment. Goldwind Green Chemical (Xing'an League) Co., Ltd.: The acceptance of the environmental impact assessment documents for the Goldwind Xing'an League Green Hydrogen to Green Methanol (Phase II) Project was announced. It is understood that the project has a total investment of 1.2 billion yuan, with a planned construction period from December 2025 to December 2027. The construction scale and content include primarily building main production facilities such as biomass gasification and methanol synthesis and distillation, along with supporting public and auxiliary utilities, aiming for an annual production of 600,000 mt of green methanol. Zhongneng Yida (Hebei) New Energy Co., Ltd.: The EPC general contracting tender announcement (second call) for the new 400,000 mt/year sustainable aviation fuel hydrogenation project. It is understood that the project covers an area of approximately 230 mu. The construction project includes a 400,000 mt/year sustainable aviation fuel hydrogenation unit, supporting hydrogen production facilities with a capacity of 30,000 Nm³/h, a sulfur recovery combined unit, and main supporting utilities. The primary raw materials are gutter oil, acidified oil, fatty acid methyl ester, and waste animal and vegetable oils, used to produce biodiesel, bio-naphtha, bio-jet fuel, and other products, with by-products including dry gas, bio-liquefied petroleum gas, and sulfur. The annual production volumes are bio-jet fuel (315,700 mt), bio-naphtha (21,000 mt), biodiesel (maximum daily production of 340,800 mt), and other by-products: dry gas (7,900 mt), bio-liquefied petroleum gas (19,500 mt), and sulfur (72 mt). Inner Mongolia Hydroelectric Technology Co., Ltd.: Its Dalad Banner Grid-Side (Incremental Distribution Network) Standalone Energy Storage Demonstration Project has completed the modification filing. The project construction content is now modified as follows: The total project investment is 153.332 million yuan, funded from two sources: self-owned funds of 45.9996 million yuan and a bank loan of 107.3324 million yuan. Regarding construction content and scale, the total energy storage capacity is set at 2 MW/4 MWh, adopting a pure hydrogen energy storage solution. Specifically, the hydrogen energy storage system encompasses three major segments: water electrolysis for hydrogen production, energy storage, and hydrogen fuel cell power generation. It is configured with 12 sets of 1,000 Nm³ alkaline electrolyzers, 2 sets of 1 MW hydrogen fuel cell power generation systems, and a 90,000 Nm³ hydrogen storage system. Each electrolyzer unit consists of the electrolyzer body, purification framework, gas-liquid separation device, and power supply and electrical control system. Each 1MW hydrogen fuel cell power generation system uses 16 proton exchange membrane fuel cell modules, each with a rated power of 100KW, as the core energy supply units. The hydrogen storage system comprises a spherical tank hydrogen storage system with a capacity of 2,000 cubic meters and a pressure of 1.6 MPa, requiring a total of three hydrogen storage tanks. Jinfeng Green Energy Chemical (Xing'an League) Co., Ltd. : Jinfeng Xing'an League Green Hydrogen to Green Methanol (Phase III) Project has been filed. Construction Location: Xing'an League - Ulanhot City - Xing'an League Economic and Technological Development Zone. Total Investment: 2.3 billion yuan, including self-owned funds: 460 million yuan, and bank loan application: 1.84 billion yuan. Planned Construction Period: May 2026 to May 2028. Construction Scale and Content: Mainly involves building key production facilities such as biomass gasification and methanol synthesis and distillation, along with supporting public and auxiliary facilities, with an annual output of 725,000 mt of green methanol. Shanghai Electric Power Station Group: Successfully won the bid for Section 1 of the EPC project for the Lanzhou New Area 100,000 mt/year Biomass Green Methanol Project (Phase I), and will provide key technologies, core equipment, and EPC turnkey services. Previously, Shanghai Electric had successfully verified its self-developed entire industry chain technology system for "green electricity coupled with biomass gasification to produce green methanol" in the Jilin Taonan Green Methanol Integrated Demonstration Project. Policy Review 1. The Gansu Provincial Development and Reform Commission, Gansu Provincial Department of Industry and Information Technology, and Gansu Provincial Energy Bureau issued the "Gansu Provincial Zero-Carbon Park Construction Plan." The document points out that organic integration of solar, wind, geothermal, and air energy should be used for direct building energy supply; relying on technologies such as wind and solar power plus energy storage and hydrogen microgrids, heat pumps, and molten salt thermal storage, the park's multi-energy conversion and mutual utilization of "electricity, heat, cooling, steam, and hydrogen" should be enhanced. Vigorously develop green and low-carbon emerging industries. Promote breakthroughs in core technologies for wind, solar, and energy storage equipment, improve the localization rate of new energy equipment, and build a new energy equipment industry chain driven by a "high proportion of green electricity." Support the construction of projects for the wind and solar power coupled green hydrogen production and hydrogen energy storage industry chain, advance the integrated development of "green hydrogen production, storage, transportation, refueling, and utilization," and create a "wind-solar-hydrogen-methanol-ammonia" zero-carbon industry chain. Guide the coordinated development of computing power projects and clean energy layout, increase the proportion of green electricity supply for data centers, and build a "computing power + green electricity" digital economy industry chain. 2. The Jilin Provincial Energy Bureau issued the "Jilin Province Green Electricity Direct Connection Project Development and Construction Implementation Plan (Trial)" (Draft for Comments).. The document indicates that new load projects can carry out green electricity direct connection, with key support for hydrogen-based green energy (green hydrogen, green hydrogen to green ammonia, green hydrogen to green methanol, green hydrogen to sustainable aviation fuel, etc.), steel metallurgy, computing (data) centers, automotive manufacturing, and other industries. Electricity consumption projects that have not been registered with the power grid enterprise (including expansion parts of existing loads), electricity consumption projects that have been registered but whose supporting power grid projects have not yet commenced construction, and existing projects agreed upon through consultation with the power grid enterprise are all considered as new loads. In principle, new loads (including expansion parts of existing loads) and existing loads should not establish direct electrical connections. 3. The European Commission approved a €4 billion special fund for electrolyzers, providing a 30% subsidy on equipment costs for projects with an annual capacity of ≥500 MW, and set a 2030 efficiency target for green hydrogen project electrolyzers of ≥60% (LHV basis). Enterprise Dynamics Shanghai Qingluan Energy Co., Ltd. : Shanghai Qingluan Energy Co., Ltd. was established, with legal representative Li Kun and registered capital of 5 million yuan. Its main business includes the manufacturing and sales of gas and liquid separation and purification equipment. The company is 100% owned by Shanghai Qingluan Technology Co., Ltd. Xinjiang Zhiling Hydrogen Equipment Manufacturing Co., Ltd. : The launch ceremony for the delivery and experience event of hydrogen energy buses, jointly organized with Skywell New Energy Automobile Group Co., Ltd., was held at the Guangbao Guangzhou Technology Park in Huangpu District, Guangzhou. Following the successive winning of related projects in November and December last year, HTWO Guangzhou, in collaboration with Skywell Group, delivered 249 hydrogen fuel cell buses in bulk to Guangzhou Bus Group. Shaanxi Hydrogen Energy Industry Development Co., Ltd. : Signed a strategic cooperation framework agreement with the Baoji Municipal Government. The Baoji Municipal Government will take this signing as an opportunity to provide comprehensive support for project construction, fully promote project implementation and effectiveness, and ensure smooth project advancement with high-quality services. Zhongtian Hua Hydrogen Co., Ltd.: Successfully won a bid for an overseas hydrogen valley project, achieving a "zero breakthrough" in overseas business, marking substantial progress in its internationalization strategy. Hubei Intelli Electric Co., Ltd. : Successfully delivered several sets of large containerized power supply systems, all of which will be used for a shore power project. HydrogenT Energy Group: Its "Fuel Cell Engine (TK-300)" project successfully passed the certification for Shanghai High-Tech Achievement Transformation Project and received an A-grade evaluation. Weishi Energy Technology Co., Ltd.: In collaboration with Yutong Light Truck, completed a series of multi-dimensional, complex working condition vehicle-level verifications, comprehensively validating the reliability and environmental adaptability of Weishi Energy's 80 kW hydrogen fuel cell system under complex environments such as low temperature, high altitude, transient load, emergency stop, and steep slopes. The Hong Kong and China Gas Company Limited (Towngas): Signed a memorandum of cooperation with Sinopec (Hong Kong) Limited (Sinopec Hong Kong) and Sinopec Star Petroleum Co., Ltd. (Sinopec Star), establishing a strategic partnership to engage in in-depth cooperation on clean energy, including hydrogen, green methanol, and sustainable aviation fuel (SAF). Patent Applications 1. Shanghai Institute of Ceramics, Chinese Academy of Sciences (China) disclosed patent CN2025110028, developing ceramic-based anion exchange membranes with a laboratory test lifespan reaching 80,000 hours. 2. Johnson Matthey (UK) filed patent WO2025109876, disclosing a Fe-Ni-Mo ternary non-precious metal catalyst formulation with activity close to that of platinum-based materials. Technology Footprints/Technical Specifications 1. The team led by Liu Qingju at Yunnan University constructed a superwetting Pt/NF@CF graded heterojunction electrocatalyst for low-energy, high-efficiency hydrogen production. 2. Hunan Normal University and Central South University's AM team revealed the compressive strain and oxygen vacancy effects of iridium oxide in proton exchange membrane water electrolyzers. 3. The relevant research team from the School of Electrical Engineering and the State Key Laboratory of Electrical Insulation and Electrical Engineering Materials at Xi’an Jiaotong University successfully developed a Ru/Ti3C2Ox@NF bifunctional seawater electrolysis electrocatalyst. 4. The group standard "Technical Specification for Wind and Solar Power Green Electricity Coupling Electrolysis Hydrogen Production" (No. T/CIEP 0272—2025) was released and implemented by the China Industrial Environmental Protection Promotion Association. Zhongneng Dayou Energy Technology Co., Ltd. successfully developed a 100kW-class PEM electrolyzer hydrogen production multi-field coupling test equipment. 5. GKN Powder Metallurgy announced the development of a new generation of high-performance, high-porosity, high-purity porous transport layers (HP-PTL) for proton exchange membrane (PEM) electrolysis.

Recently, African media reported that the cross-border, world-class iron ore resource of the Mbalam-Nabeba Iron Ore Project, located between Congo Republic and Cameroon in Africa, is expected to commence production in December 2025 , with the supporting railway construction to start simultaneously. The Mbalam-Nabeba Iron Ore Project is situated on the border between Cameroon and Congo Republic, with Mbalam located in Cameroon and Nabeba in Congo Republic. According to a 2015 exploration report, the iron ore reserves of this mine are estimated at 5.64 billion mt (mainly hematite, with a grade of 33.4%), including 805 million mt of high-grade iron ore (with a grade of 57.3%), making it a world-class large-scale high-quality open-pit iron ore mine. According to the latest information, the total iron ore resources of the entire Mbalam-Nabeba Project exceed 6.44 billion mt. Among them, the mining areas in Congo Republic cover three ore deposits: the Nabeba Iron Ore Mine, the Avima Iron Ore Mine, and the Badondo Iron Ore Mine , with estimated iron ore reserves of 1.5 billion mt, 1.4 billion mt, and 679 million mt, respectively. On August 17, 2022, Cameroon Mining Company Sarl (CMC) obtained the mining license for the Mbalam Iron Ore Mine. Bestway Finance, an investment vehicle headquartered in Singapore that shares the same parent company as CMC, and the Australian publicly listed firm AustSino Resources announced a joint development of this project. Behind these two shareholders is a large number of Chinese engineering, construction, infrastructure, or mining companies, including China Railway 20th Bureau Group Corporation, China Machinery Engineering Corporation, China Civil Engineering Construction Corporation, China National Chemical Engineering Heavy Machinery Co., Ltd., and China Construction Mining Group Co., Ltd., among others. On May 7, 2024, representatives from Bestway Finance and representatives from the Cameroonian government, including Professor Fuh Calistus Gentry, the interim Minister of Mines, Industry, and Technological Development, signed the development agreement for the Mbalam Iron Ore Mine. Driven by the upcoming production of the Simandou Project in Guinea, it may bring greater impetus and stimulation to this world-class project in Cameroon. Let's wait and see for the official commencement of production at the end of the year!

[2.54 billion! China Railway Construction Corporation to Build 800 Integrated PV ESS Charging-Discharging Supercharging Stations in Guangdong!] Recently, the Bridge Bureau of China Railway Construction Corporation successfully won the bid for the EPC general contracting of the Green Smart Supercharging Station Project. The total planned investment for Phase I of the project is approximately 2.54 billion yuan. The Green Smart Supercharging Station Project will involve the construction of 800 supercharging stations (including large-scale stations integrating PV, ESS, charging, and other related supporting facilities) within Guangdong Province. The supercharging station project that won the bid will adopt the world's leading integrated PV ESS charging-discharging technology and an all-liquid-cooled supercharging architecture to create an intelligent and comprehensive supercharging demonstration station that integrates PV, ESS, supercharging, and discharging, achieving a level where "only one second of charging is needed for one kilometer of driving range.

[Bid Opening Record of EPC for Ningxia Electric Power Investment's 300MW/600MWh ESS Power Station Released] The bid opening record of the EPC for the 300MW/600MWh ESS power station of the 3 million kW PV base project of Ningxia Electric Power Investment Yongli (Zhongwei) New Energy Co., Ltd. has been released. A total of 19 enterprises participated in the bidding, with 16 valid bids. The bid prices ranged from 0.549 to 0.633 yuan/Wh, with an average bid price of 0.5798 yuan/Wh. The participating enterprises included infrastructure companies of central state-owned enterprises such as China Energy Engineering Group, PowerChina, and China Railway Construction Corporation, as well as system integration enterprises such as CRRC Zhuzhou Institute, Xinyuan Zhichu, and Kehua Data. The lowest bid came from China Railway 14th Bureau Group Northwest Engineering Co., Ltd., while the highest bid came from PowerChina Shandong Electric Power Construction No.1 Engineering Co., Ltd.

[China Railway Construction Bridge Engineering Bureau Group Co., Ltd. Successfully Wins EPC Contract for Green Smart Supercharging Station Project] The total planned investment for Phase I of the project is approximately RMB 2.54 billion. The Green Smart Supercharging Station Project will involve the construction of 800 supercharging stations (including large-scale stations integrating PV, energy storage systems (ESS), charging, and related supporting facilities) across Guangdong Province. The supercharging station project that has been awarded the contract will adopt the world's leading integrated PV-ESS-charging-discharging technology and an all-liquid-cooled ultra-fast charging architecture to create an intelligent and comprehensive supercharging demonstration station that integrates PV, ESS, ultra-fast charging, and discharging, achieving a level where "one kilometer of driving range can be replenished with just one second of charging." During the project implementation, the construction of an intelligent charging service platform will be advanced in tandem with the development of charging infrastructure, integrating technologies such as the Internet, Internet of Things (IoT), intelligent transportation, and big data. Through the "Internet + charging infrastructure" approach, the project will actively promote energy and information interaction between EVs and the smart power grid, enhancing the intelligence level of charging services.

On May 27, China Railway Construction Network Information Technology Co., Ltd. issued a change announcement for the 2025 framework procurement tender for PV modules. Compared with the previous tender documents, the period for obtaining the tender documents has been changed from May 20, 2025 to May 26, 2025, to May 26, 2025 to May 30, 2025. The bid opening date has been changed from June 12 to June 16.

"The company has focused on its core business and optimized its industrial structure. Last year, through mergers and acquisitions of high-quality assets in the industry, it achieved horizontal industrial integration and a dual-region market layout in central and east China, driving the company's long-term development," Shen Peiliang, Chairman of Yongda Co., Ltd. (001239.SZ), stated at the 2024 Annual General Meeting on the afternoon of May 12. Yongda Co., Ltd.'s products are mainly applied in fields such as tunnel boring, construction machinery, and wind power generation. Financial reports show that in 2024, Yongda Co., Ltd. achieved operating revenue of 849 million yuan, up 3.48% YoY, and net profit attributable to shareholders of 79.0801 million yuan, down 13.31% YoY. In the first quarter of this year, the company achieved operating revenue of 471 million yuan, up 170.42% YoY, and net profit attributable to shareholders of 18.2532 million yuan, up 14.94% YoY. "Since the beginning of this year, the wind power industry has seen a significant improvement in market sentiment, with wind turbine prices stabilizing and rebounding. The industry is entering a period of intensive deliveries, and installations are expected to experience rapid growth." Regarding the company's rebound in performance in the first quarter of this year, a company official told a reporter from Cailian Press that the company's structural components for wind power equipment cover a variety of models and specifications ranging from 1.5MW to 18MW, encompassing multiple technical routes. The company possesses customized production capabilities, enabling it to meet various application needs for both offshore and onshore wind power. It has also established long-term cooperation with enterprises such as Mingyang Smart Energy and XEMC Wind Power Co., Ltd. Against the backdrop of a favorable outlook for the wind power business, Yongda Co., Ltd. previously extended its industry chain through external mergers and acquisitions. In 2024, the company acquired a 51% stake in Jiangsu Jinyuan High-end Equipment (hereinafter referred to as "Jinyuan Equipment"), which is primarily engaged in the research, production, and sales of high-speed heavy-duty gear forgings. Its products, as core components of gearboxes, are applied in multiple industries including wind power and construction machinery, with some products also applied in the robotics sector, though the business scale in this area remains small. After Jinyuan Equipment became a controlled subsidiary of the company, it was consolidated into the financial statements of the publicly listed firm starting from November 2024. "Jinyuan Equipment is located on Zhongguancun Avenue in Liyang City, Jiangsu Province, within the Yangtze River Delta region and close to core suppliers and customers," the aforementioned official said. Through this merger and acquisition, the company has horizontally extended its product lineup from metal structural components to metal forgings and entered the wind power gear sector. By integrating resources in their respective key industries, both parties have achieved bidirectional penetration in sales regions and customer bases. Before the acquisition, Yongda Co., Ltd. had four production sites, all located in the Jiuhua District of Xiangtan City, Hunan Province. The factory areas were adjacent to each other, with a total area of approximately 130,000 m². The company's core customers, including China Railway Construction Heavy Industry Co., Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd., SANY Group, and CRRC Corporation Limited, all have factories located near the company. According to the company's previous announcement, the performance commitment party of Jinyuan Equipment, the acquired company mentioned above, has committed to achieving a cumulative net profit of no less than 250 million yuan from 2025 to 2027. Shen Peiliang stated that this year, the company will continue to focus on its core business market, promote external mergers and acquisitions and integration, and build a leading enterprise in the integrated field of large, irregular, and high-end special equipment metal "structural parts and forgings."