Analysis Report on Taisheng Wind Energy (300129)'s Strong Performance
I. Executive Summary
Taisheng Wind Energy (300129) surged to the daily limit today and entered the strong stock pool, closing at RMB 17.00 with a 10.68% increase, hitting a 52-week high [1]. The core driving forces for this round of rise are
hype around the commercial space concept
combined with the positive news of
completed private placement
: the controlling shareholder Guangzhou Kaide Investment Holding Co., Ltd. fully subscribed to 174 million shares at RMB 6.76 per share, increasing its shareholding ratio from 26.93% to 38.39% [2]; meanwhile, the company’s rocket tank project is expected to be put into operation in mid-2026, benefiting from the IPO expectation of LandSpace and the overall strength of the wind power sector [3]. However, the current P/E ratio reaches a significantly high 63.75 times, the short-term monthly increase of 88% has shown overbought signs, the capital is mainly driven by hot money speculation, the fundamental support is limited, so investors need to be alert to the risk of technical pullback [0].
II. Comprehensive Analysis
2.1 Analysis of Core Catalysts
Commercial space concept has become the core driver of this round of rise.
The company launched research on relevant processes of rocket tanks at the end of 2024, officially approved the tank production base project at the end of 2025, planning to transform the original Dongtai factory with a designed production capacity of 60 sets, which is expected to be put into operation in mid-2026 [2]. The value of a single tank is about RMB 2.5 million to RMB 5 million, and a single rocket may use 2-6 tanks, so the market has high expectations for the company’s second growth curve. In addition, LandSpace’s Sci-Tech Innovation Board IPO application was accepted on December 31, 2025, with a planned fundraising of about RMB 7.5 billion, and the market enthusiasm for the commercial space sector continues to rise [3].
Completed private placement demonstrates the controlling shareholder’s confidence.
On the evening of January 9, the company issued an announcement showing that the controlling shareholder Guangzhou Kaide Investment Holding Co., Ltd. fully subscribed to 174 million shares in cash at an issue price of RMB 6.76 per share, with a total fundraising amount of RMB 1.176 billion, and the net fundraising amount will be fully used to supplement working capital [2]. It is worth noting that the current share price of RMB 17.00 has a premium of over 150% compared to the private placement price of RMB 6.76, indicating that the controlling shareholder completed a large-scale increase at a relatively low level, and its shareholding ratio increased significantly from 26.93% to 38.39%, strengthening its control over the company.
Wind power sector forms a linkage effect.
On January 8, the wind power sector continued to strengthen, Taisheng Wind Energy surged by 20% in the afternoon, followed by gains from Goldwind Science & Technology, Zhonghuan Hailu, Tianshun Wind Energy, etc. [1]. As a wind power tower manufacturer, the company’s main business benefits from the recovery of the wind power industry’s prosperity, providing certain fundamental support for the share price.
2.2 Technical Analysis of Price and Trading Volume
From the price trend, Taisheng Wind Energy shows a typical strong short-squeeze trend [0]. Today’s increase is 10.68%, the 5-day increase reaches 49.12%, the monthly increase is 88.47%, the 3-month increase is 103.59%, and the annual increase is 154.11%. The share price has doubled from the 52-week low of RMB 5.75 to the 52-week high of RMB 17.80. The current price of RMB 17.00 has deviated significantly from various important moving averages: the 20-day moving average is RMB 10.50, the 50-day moving average is RMB 9.17, and the 200-day moving average is RMB 7.73, showing an obvious deviation from the upward trend technically.
In terms of trading volume, 208 million shares were traded today, which is
344%
of the average daily trading volume of 60.52 million shares, showing an abnormal expansion trend [0]. High trading volume combined with a sharp increase usually indicates extremely high market participation, but it should be noted that if subsequent buying demand is insufficient, a sharp increase with high trading volume at a high level may signal loose chips.
2.3 Evaluation of Fundamental Support
From the valuation perspective, the current P/E ratio reaches a significantly high 63.75 times, which is significantly higher than the average valuation level of Wind’s wind turbine components industry, and the risk of overvaluation cannot be ignored [0]. From the profit indicators, the ROE is only 5.54%, and the net profit margin is 4.46%, with the profitability at an average level. The asset-liability ratio of 55.25% is in a moderate range, and the current ratio of 1.55 shows robust short-term solvency. However, the company’s latest free cash flow is negative, and although the private placement to supplement working capital can ease the capital pressure, the substantial improvement of fundamentals still needs to wait for the commercial space business to be launched [2].
It is worth noting that the company clearly stated that the relevant plans in the commercial space field are currently in the “initial stage of business layout”. Since the production line is still under construction, no specific gross profit margin expectation has been given [2]. This means that before the production in mid-2026, this business will not contribute substantially to performance, and the current share price increase more reflects market expectations rather than fundamental improvement.
III. Key Insights
The cross-field concept superimposition effect is significant.
Taisheng Wind Energy is classified into two hot tracks of wind power equipment and commercial space by the market, enjoying valuation premiums from both tracks. A subsidiary of Goldwind Science & Technology holds 4.14% equity of LandSpace, and the market’s expectation for the “first stock” of commercial space has benefited the entire concept sector [3]. However, the company’s rocket tank business is significantly different from the existing tower business in terms of raw materials, welding processes, etc., and all production line equipment are newly configured, which means that the early investment is large and there is uncertainty in technical verification.
The capital is mainly driven by hot money speculation.
According to market insiders, the participation of long-term main funds is low, and the recent rise is mainly driven by hot money and quantitative funds [3]. The active presence of hot money can be seen from the Dragon and Tiger List data, and the abnormal fluctuation announcement of margin trading and short selling has been released, which may intensify share price volatility. This capital structure means that once the market sentiment turns, the share price may fall rapidly.
There is a huge arbitrage space between the private placement price and the current price.
The controlling shareholder’s private placement price of RMB 6.76 has a discount of about 60% compared to the current price of RMB 17.00. Although the increase has been completed and locked up, the huge floating profit may trigger the expectation of subsequent reduction, so it is necessary to pay attention to the unlocking time node of the restricted shares from the private placement.
IV. Risks and Opportunities
4.1 Main Risk Points
| Risk Type |
Specific Content |
Risk Level |
| Overvaluation Risk |
P/E ratio of 63.75 times is significantly high, with excessive short-term increase |
🔴 High |
| Pullback Risk |
Monthly increase of 88%, annual increase of 154%, serious technical overbought |
🔴 High |
| Hot Money Speculation Risk |
Main funds are mainly hot money and quantitative funds, with poor stability |
🔴 High |
| Performance Realization Risk |
The commercial space business will only be put into operation in mid-2026, with a long performance vacuum period |
🟠 Medium-High |
| Excessive Concept Hype Risk |
The company clearly stated that the business is in the “initial stage” [2] |
🟠 Medium-High |
4.2 Opportunity Window Analysis
Positive factors:
The controlling shareholder’s shareholding ratio increased to 38.39%, demonstrating long-term confidence; the RMB 1.176 billion private placement improved liquidity; the commercial space track has long-term positive prospects combined with expected policy support; the main wind power business provides stable cash flow support; the sector effect is expected to continue [2][3].
Negative factors:
The current valuation lacks performance support; the short-term increase has overdrawn future expectations; the capital structure dominated by hot money is unstable; the commercial space business has high uncertainty.
Time sensitivity:
In the short term (1-2 weeks), the share price is overheated, and the probability of technical pullback is high; in the medium term (1-3 months), it is necessary to pay attention to the construction progress of the rocket tank production line and the emotional changes of the commercial space sector; in the long term (more than 6 months), if the commercial space business is successfully launched and contributes to performance, there is room for valuation digestion.
V. Key Information Summary
The strong performance of Taisheng Wind Energy in this round is driven by the dual factors of
hype around the commercial space concept
and
completed private placement
, surging to the daily limit today and entering the strong stock pool, closing at a 52-week high of RMB 17.00 [1]. The core catalysts include: the controlling shareholder Guangzhou Kaide Investment Holding Co., Ltd. completed a RMB 1.176 billion private placement at RMB 6.76 per share, increasing its shareholding ratio to 38.39%; the company’s rocket tank project is expected to be put into operation in mid-2026, benefiting from the IPO expectation of LandSpace and the overall strength of the wind power sector [2][3].
However, the analysis reveals several noteworthy risk factors. The current P/E ratio reaches a significantly high 63.75 times, and the ROE is only 5.54%, showing average profitability, so the valuation lacks fundamental support [0]. The short-term monthly increase of 88% and annual increase of 154% have shown serious overbought signs, and the share price has deviated significantly from the 20-day/50-day/200-day moving averages, with a high risk of technical pullback. The capital is mainly driven by hot money speculation, with low participation of long-term main funds and poor stability. The commercial space business is clearly in the “initial stage” and will not contribute to performance before mid-2026, with a large component of concept hype [2].
From the key price reference, RMB 17.80 is the resistance level of the 52-week high, and RMB 18.50 is the psychological barrier; in terms of support levels, RMB 15.00 is an integer barrier, RMB 13.50 is close to the 10-day moving average, and RMB 10.50 is the strong support of the 20-day moving average [0]. Investors should pay attention to changes in trading volume and sector sentiment, and carefully evaluate the risk of chasing higher prices.
