Tianshun Wind Energy Wins Approximately 700 Million Yuan Offshore Engineering Order, Successfully Bids for Shanwei Red Sea Bay Phase 6 Offshore Wind Power Project

Securities Daily Reporter Chen Hong

On the evening of March 12, Tianshun Wind Energy (Suzhou) Co., Ltd. (hereinafter referred to as “Tianshun Wind Energy”) announced that its wholly-owned subsidiary in the offshore engineering sector recently won an order for the offshore transition piece of the Shenneng Shanwei Honghai Bay Six Offshore Wind Power Project, with an amount of about 700 million RMB (the specific amount is subject to the official contract).

The announcement shows that this offshore wind power project is being constructed by Shenneng Marine Energy (Shanwei) Co., Ltd., with a planned installed capacity of 500MW and 34 wind turbines to be installed. Tianshun Wind Energy successfully won the bids for the Project Section I and Section II, providing a total of 34 transition piece sets.

It is worth noting that this is another significant order recently secured by Tianshun Wind Energy in the offshore engineering field. The company previously announced on February 11, 2026, that since December 2025, its wholly-owned subsidiary in the offshore engineering sector has signed or won orders worth approximately 870 million RMB for offshore transition pieces, monopiles, and other components, involving key projects in offshore wind power and deep-sea aquaculture. The short-term offshore engineering order scale has exceeded 1.5 billion RMB.

Shen Meng, partner at Shanghai and Mei Management Consulting, told Securities Daily: “Winning offshore engineering orders consecutively within just a few months reflects that Tianshun Wind Energy’s offshore sector is entering a rapid growth phase. The continued ample order backlog provides solid business support for future performance growth, confirming that the company’s layout in the offshore equipment track is gradually entering a harvest period.”

Lin Xianping, Executive Deputy Secretary-General of the China Urban Expert Think Tank Committee, said to Securities Daily: “From an industry development perspective, this order is a microcosm of the rapid development of China’s offshore wind power industry. Driven by the ‘dual carbon’ goals, the pace of offshore wind development continues to accelerate domestically, with coastal provinces and cities actively promoting related project planning and construction. As a core part of the industry chain, offshore engineering equipment market demand is continuously released. Companies with core manufacturing capabilities and project experience will continue to benefit from industry growth dividends.”

Regarding this newly awarded order, Tianshun Wind Energy also issued multiple risk warnings. The announcement states that the current order has not yet signed a formal contract. Due to factors such as contract signing timing, specific implementation, and progress, the order’s impact on the company’s current and future performance is uncertain; if force majeure or other factors occur during execution, there is a risk that the order may be partially or fully unfulfilled or terminated. The announcement also clarifies that the data related to this order are internal statistics of the company, unaudited, and cannot be directly used to infer the company’s revenue, net profit, or other financial data. The company’s daily operations have not undergone significant changes.

Lin Xianping believes: “The production and delivery of offshore wind engineering equipment place high demands on supply chain integration, capacity scheduling, and offshore transportation and installation capabilities. The large-scale order for transition pieces that Tianshun Wind Energy has secured not only tests its existing capacity and delivery efficiency but also challenges the stability of its supply chain and cost control. The company needs to plan capacity and project schedules carefully to ensure smooth delivery and further strengthen its industry position.”

Additionally, Tianshun Wind Energy recently released its 2025 performance forecast, estimating a net loss attributable to shareholders of listed companies between 190 million and 250 million RMB, a decrease of 192.94% to 222.29% compared to the same period last year. The loss is due to the company’s strategic shift from “land to sea,” shrinking its onshore wind equipment business, and impairing assets related to the planned shutdown bases and some long-term equity investments. The specific impairment amount will be subject to annual audit.

Currently, Tianshun Wind Energy’s global offshore equipment manufacturing base layout has taken initial shape. The recent series of large offshore engineering orders marks an important achievement in its strategic transformation. The company will focus on expanding its core resources to develop offshore wind markets domestically and internationally, leveraging offshore engineering business growth to promote long-term profitability.