Higher export deliveries lift Dajin’s profit by nearly 10%

Offshore wind power equipment maker Dajin Heavy Industry Co. Ltd. (1081.HK; 002487.SZ) announced last Friday that its revenue rose 14.48% year-on-year in the first half of 2026 to 3.25 billion yuan ($484 million), while its net profit increased 9.89% to 601 million yuan, the highest level for a first-half period in its history.

After deducting non-recurring gains and losses, the company’s net profit rose 4.57% to 589 million yuan in the first half of 2026. Its net cash generated from operating activities surged 544% to 1.53 billion yuan.

Dajin said the improvement was mainly driven by higher export deliveries of its offshore wind power equipment. Revenue from products delivered to overseas markets reached 2.68 billion yuan, accounting for 82.25% of its total, up 3.3 percentage points year on year. The export volume of its wind power equipment reached nearly 120,000 tons, also the highest level for a first-half period.

Dajin provides global offshore wind power developers with manufacturing, transportation and delivery services for wind foundation equipment. Its Hebei Tangshan Caofeidian deep-sea offshore facility commenced production in the first half of the year, with annual capacity of about 400,000 tons. The facility can produce extra-large monopiles, floating foundations and jackets supporting 15 MW to 25 MW large wind turbines.

The company said Europe remains its core market, with cumulative offshore wind installed capacity projected to reach about 73 GW by 2030 and average annual grid-connected capacity expected at around 7 GW to 8 GW over the next five years.

Dajin’s shares opened lower on Monday and traded at HK$29.22 by the midday break, down 10.86%. The stock is down about 56% since its listing in June.

By Lee Shih Ta

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