Analysis of China XD Electric's Offshore Wind Power Booster Station Business Layout

Based on the latest information I have obtained, the details regarding China XD Electric (SH601179)'s offshore wind power booster station orders are as follows:

China XD Electric has formed a complete product system of booster station equipment in the offshore wind power sector:

• The company focuses on the deployment of 550kV DC GIS (Gas Insulated Switchgear) dedicated to offshore wind power
• As one of the core equipment of offshore wind power booster stations, it is used for voltage transformation and power transmission
• It has been successfully delivered and put into operation [1]

• The company is expanding into high-end markets such as wind power/photovoltaic booster transformers and converter transformers [2]
• It continues to make efforts in the new energy supporting sector, with offshore wind power being an important development direction

• According to industry information, China XD Electric successfully won the bid for the
  500kV Offshore Wind Power Booster Station Project
  in 2024 [3]
• The company and its 12 subsidiaries actively participate in equipment supply for offshore wind power projects
• The cumulative winning bid amount is significant, with the total winning bid amount for power grid equipment reaching approximately RMB 5.363 billion in 2024

• XD Xici, a subsidiary of the company, has successfully developed carbon ceramic resistors for 550kV circuit breakers
• It continues to promote the localization of offshore wind power equipment [4]

• China XD Electric is a leading domestic enterprise in UHV and power transmission and transformation equipment
• It ranks first in the winning bids for UHV equipment and power transmission and transformation equipment of State Grid
• Its leading position in primary power transmission and transformation equipment has been further consolidated [5]

• 1100kV GIS equipment is globally leading
• UHV DC converter valves have passed international certification
• The technology of 550kV DC GIS for offshore wind power has reached international advanced levels

The company’s continuous performance growth provides strong support for the development of its offshore wind power business:

• Net profit in the first three quarters of 2025 increased by nearly 20%
• Operating revenue has achieved steady growth
• Order books are full, with the cumulative winning bid amount for UHV-related projects exceeding RMB 6.1 billion in 2025 [6]

As a leading domestic power equipment enterprise, China XD Electric has actively deployed in the offshore wind power booster station sector. Through technological innovation and product R&D, the company has successfully developed core equipment such as the 550kV DC GIS and completed project delivery. With the continuous expansion of domestic offshore wind power installed capacity and the policy guidance of an annual new installed capacity target of no less than 15GW for offshore wind power during the 15th Five-Year Plan period, the company’s offshore wind power business is expected to gain sustained growth momentum.

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[1] China Electric Power News - Report on the Successful Delivery of the 550kV DC GIS Project for Offshore Wind Power (https://img.in-en.com/file/upload/202412/27/10084719262980.jpg)
[2] Minsheng Securities Research Report - Analysis of the Transformer Industry Competition Pattern (https://pdf.dfcfw.com/pdf/H3_AP202601131816986568_1.pdf)
[3] New Energy Network - Offshore Wind Power Project Winning Bid Information (https://www.ne21.com/file/upload/202412/16/1122107515951.png)
[4] Industry News - XD Electric Develops Carbon Ceramic Resistors for 550kV Circuit Breakers (https://www.4080848.com/sitemap/)
[5] East Money - Profile and Winning Bid Status of China XD Electric (https://caifuhao.eastmoney.com/news/20260112201229747273640)
[6] Corporate News - China XD Electric’s Net Profit Growth in the First Three Quarters (http://www.cnwep.com/nr.jsp?groupId=24&jpt=4)