Recently, CMIC (00206.HK) has won two orders of high-end core equipment for offshore wind power, with a total sales contract amount of about RMB 200 million. The orders are for the jacking system of the new generation of 1,600-ton and 1,500-ton large offshore wind power installation vessels. The clients are China Merchants Institute of Marine Equipment and CIMC Raffles Offshore Engineering. This will continue to add value to the company's performance in providing core equipment in the field of offshore wind power, and profitability and core competitiveness are steadily improving.

Information shows that CIMC Raffles, as a member of the world's first echelon of offshore equipment EPC, has delivered nearly 100 various types of offshore equipment, including 11 deepwater semi-submersible drilling rigs, accounting for 80% of China's and 25% of the global market share in the same period. China Merchants Institute of Marine Equipment is a wholly-owned subsidiary of China Merchants Industry Holdings, which is a scientific and technological innovation research and development and achievement incubation institution in the field of marine equipment, relying on the complete industry chain of China Merchants Group in the field of transportation and logistics and the advantages of combining industry and finance in Shenzhen. Now, CMIC won two major orders from CIMC Raffles and China Merchants Institute of Marine Equipment, which shows the market's affirmation of the technical strength and product strength of CMIC.

In fact, since the transition to the offshore wind power field in 2019, CMIC has been grasping the window of opportunity for the development of offshore wind power, continuously increasing its investment in research and development in the field of large-scale offshore wind power installation and operation and maintenance, and has gradually formed the core equipment technology and manufacturing capabilities with independent intellectual property rights. It is reported that CMIC has a team of 100+ highly skilled personnel in scientific research, design, manufacturing and service, with more than 100 independent intellectual property rights technology and industry qualifications, and can provide a variety of independent intellectual property rights products such as heavy-duty pile winding crane and auxiliary crane, lifting system, full-ship electronic control system and platform pile leg prefabricated components for offshore wind power installation platform. With a long history of serving global mega energy companies, CMIC has been highly recognized and trusted by customers.

In 2021, CMIC and its shareholder company, China Merchants Industrial Holding, a leading shipbuilding company in China, and China Merchants Tong Shang Finance  Leasing, a leading investment institution in the new energy industry, will carry out in-depth cooperation to build China Merchants' first new generation 1600-ton offshore wind power platform with independent intellectual property rights through the mode of intelligent manufacturing + industry-financing combination. The vessel is the first new generation of offshore wind power installation platform with independent intellectual property rights, with a forward-looking layout of the market in the next 10 years. The ship meets the installation and operation and maintenance needs of the latest ultra-large offshore wind turbines, breaks the long-term monopoly of a few foreign enterprises, realizes the localization of large offshore wind power installation platform, and provides equipment support for China to accelerate the development of offshore wind power industry.

Industry sources said that with the continued growth of new energy demand and the "dual carbon goal" gradually promote, offshore wind power as one of the green clean energy, due to its abundant resources, easy to consume, the cost tends to parity and other advantages, is expected to maintain sustainable growth. According to the Global Wind Energy Council’s forecast, from 2021 to 2031, the global annual installed capacity of offshore wind power is expected to more than double, from 21.1 GW to 54.9 GW. With a large number of domestic and foreign offshore wind power projects into the construction phase, will further drive the development of large-scale offshore wind power installation vessel industry. From the beginning of 2021 to the beginning of April 2022, a total of 30 orders for new construction and modification of wind power installation vessels were signed worldwide.

In this backdrop, the transformation of CMIC into a green energy technology enterprise, the layout of offshore wind power, and strong cooperation with enterprises in the industry chain, won a number of orders, will lay a solid foundation for the subsequent release of performance, effectively as a global offshore wind power hard-core technology practitioners, towards high-quality new development.