On the evening of January 14, HNXQ Bearing Technology Group issued an announcement that the company intends to privately issue no more than 31.8 million shares and raise no more than 1.46 billion yuan. The net fundraising after deducting issuance costs is planned to be used for 3.0MW and above high power Wind power generation main engine supporting bearing production line construction project, R&D center construction project and supplementary working capital.
HNXQ is mainly engaged in the research and development, production and sales of large slewing bearings and industrial forgings. The company's main products include wind turbine main shaft bearings, yaw bearings, pitch bearings, shield machine bearings and key components, offshore equipment crane slewing bearings and forgings, etc. The products are mainly used in wind turbines, shield machines, offshore equipment, engineering machinery and other fields.
As one of the important new energy industries, the wind power industry has benefited from the support of national policies in recent years. The industrial chain has become more and more mature, and the technology has become more mature. The construction and installation areas have gradually spread from the original western area to the central and eastern areas, and the overall effect is seasonal The overissue is not obvious. The penetration rate of large-scale generating units in the industry has rapidly increased, and high-power generating units of 2.0MW and above have become a trend, and product reliability requirements have increased; offshore high-power wind power is developing rapidly, and global wind power will gradually enter the 4MW+ high-power era; the internationalization of the wind power component market Accelerated, the recognition of high-quality finished products in China has increased.
Especially since 2019, the wind power industry has entered a new round of rapid development cycle, newly installed capacity has increased rapidly, and the wind power industry has shown a rapid growth trend. According to data from the National Energy Administration and the China Electricity Council, as of the end of 2019, the cumulative installed capacity of wind power across the country was 210 million kilowatts, of which the cumulative installed capacity of onshore wind power was 204 million kilowatts, and the cumulative installed capacity of offshore wind power was 5.93 million kilowatts. The installed capacity accounts for 10.4% of the total installed capacity of power generation. According to statistics from the Wind Energy Specialized Committee (CWEA) of the Chinese Renewable Energy Society (CWEA), from 2017 to 2019, the new installed capacity of wind power nationwide was 19.66GW, 21.14GW, and 26.79GW.
The rapid growth of downstream industries has driven the rapid development of wind power equipment parts industries such as wind power bearings, and has played a very important role in supporting the performance growth of related companies including HNXQ.
With the rapid development of the wind power industry and the continuous improvement of wind power manufacturing technology, taking into account factors such as reducing the cost of wind farm construction, the single-unit power of wind turbines is also increasing, and wind turbines are showing a trend of large-scale development. This also indicates that the wind power equipment industry will face a good structural opportunity, which will directly drive the wind power components industry, including wind power bearings, to accelerate the industrialization of high-power components.
After years of development, HNXQ has strong independent innovation capabilities and competitive products with strong market competitiveness. It maintains long-term and stable cooperative relations with customers and has formed a brand effect. High-power wind power yaw pitch bearings and wind power spindles Bearings have reached the level of import substitution. Through this issuance, the company intends to continue to expand the production scale of wind power bearings, make full use of its operating experience and technological accumulation in the field of wind power undertaking, actively carry out technological upgrades and product upgrades, further consolidate the main business, increase the core business market share, and enhance the company's overall Profitability, enhance the company's core competitiveness.