Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ) Bundle
Founded on March 3, 2006 in Jiaozhou, Qingdao Tianneng Heavy Industries Co., Ltd. (listed on Shenzhen's Growth Enterprise Market as 300569.SZ since November 25, 2016) has grown from a wind power equipment manufacturer into an integrated renewables player backed by state-owned capital-Zhuhai Port Holding Group took control in December 2020 with the Zhuhai SASAC as actual controller-operating multiple production bases for onshore and offshore wind towers and foundations, producing towers, single piles, cages and anchors while also investing in, building and operating wind and photovoltaic farms; with a registered capital of 808,581,708 yuan (as of Sept 30, 2022), legal representative Ou Huisheng, board secretary Li Chunmei and securities affairs representative Yu Xinxiao, Tianneng leverages centralized procurement and state backing to sell domestically and export internationally, diversify revenue through equipment sales and project operation, and position itself as a major contributor to China's renewable and carbon neutrality ambitions as of late 2025.
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ): Intro
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ) is a Jiaozhou-based manufacturer and project developer focused on wind power equipment and related foundations. Founded on March 3, 2006, the company has evolved from conventional tower manufacturing into a vertically integrated wind and photovoltaic (PV) developer and operator.- Founded: March 3, 2006 (Jiaozhou, Qingdao)
- Listed: Shenzhen Stock Exchange Growth Enterprise Market, November 25, 2016 (300569)
- Controlling shareholder change: December 2020 - Zhuhai Port Holding Group Co., Ltd.; ultimate controller: Zhuhai SASAC
- Business scope: onshore & offshore wind towers, foundations (single pile, pile-cage), wind anchors, wind & PV project development, construction, O&M
| Item | Detail |
| Established | 2006-03-03 |
| Listing date | 2016-11-25 (300569.SZ) |
| Major shareholder (since) | Zhuhai Port Holding Group Co., Ltd. (Dec 2020) |
| Actual controller | Zhuhai State-owned Assets Supervision and Administration Commission |
| Core products | Onshore & offshore wind towers; foundations (single piles, pile-cage); onshore anchors |
| Vertical activities | Investment, construction, operation of wind & photovoltaic farms |
| Status (late 2025) | Significant player in China's wind equipment manufacturing sector |
- 2006-2015: Established as a tower manufacturer serving domestic turbine OEMs; capacity expansion in Qingdao/Jiaozhou.
- 2016: IPO on Shenzhen GEM (stock code 300569) to raise capital for capacity and technology upgrades.
- 2017-2019: Product diversification into foundations and larger-diameter towers to address offshore and high-capacity onshore turbines.
- Dec 2020: Strategic shift when Zhuhai Port Holding Group became the controlling shareholder, delivering enhanced balance-sheet support and state-backed procurement channels.
- 2021-2025: Vertical integration - moving from pure manufacturing to project development, EPC and asset operation of wind and PV farms.
- Controlling shareholder: Zhuhai Port Holding Group Co., Ltd. (state-owned); effective controller: Zhuhai SASAC - provides financial backing and potential preferential access to state-linked projects.
- Public float: Traded on Shenzhen GEM under 300569.SZ with institutional and retail holders; governance conforms to PRC listed-company rules and SASAC oversight influence.
- Manufacturing: Fabrication of steel tubular towers for onshore turbines, large-diameter towers for offshore use, and foundation components (single piles, pile-cage systems).
- Engineering & installation: EPC services for foundations and tower erection, including logistics for large components and port-based staging (leveraging Zhuhai/port relationships).
- Project development & asset ownership: Direct investment in wind and PV farms - land/sea rights acquisition, grid connection, commissioning, and long-term O&M.
- After-sales & O&M: Service contracts and performance-based maintenance for installed assets and third-party projects.
- Equipment sales: Towers and foundation sales to turbine OEMs and EPC general contractors - typically project-based contracts with scheduled deliveries.
- EPC and installation contracts: Margin on design, fabrication, transport and installation of foundation and tower systems.
- Project investment returns: Power generation revenues from company-owned wind and PV farms (PPA or merchant market), yielding long-term cash flows and asset appreciation.
- O&M services: Recurring service revenue and spare-parts sales for both self-owned and third-party assets.
| Metric | Typical/Representative Value |
| Year of IPO | 2016 |
| Controlling shareholder acquisition | Dec 2020 |
| Primary product categories | Towers, single piles, pile-cage foundations, anchors |
| Business segments | Manufacturing; EPC; Project investment & operation; O&M |
| Geographic focus | China (onshore & offshore), growing project footprint via state-backed channels |
- State-backed ownership provides capital, port/logistics advantages and preferential project access in domestic tenders.
- Product diversification (towers + foundations) and vertical integration (EPC + asset ownership) increase margin capture vs pure manufacturers.
- Exposure to Chinese wind market cycles: demand tied to national wind capacity targets, tender volumes, and offshore expansion plans.
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ): History
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ) was established as an industrial manufacturer focused on heavy equipment, leveraging Qingdao and Jiaozhou's coastal logistics and manufacturing clusters. Over time it transitioned from a regional heavy machinery maker into a publicly listed enterprise, expanding product lines, service offerings and partnership ties with state-owned port and logistics groups to capture offshore, port and infrastructure equipment demand.- Founded and scaled through local industrial investment and strategic state-linked partnerships.
- Listed on the Shenzhen Stock Exchange under code 300569, opening equity access to public investors.
- Integrated into broader logistics and port ecosystems via controlling shareholder relationships.
| Item | Detail |
|---|---|
| Stock code | 300569.SZ |
| Registered capital (as of 2022-09-30) | 808,581,708 yuan |
| Controlling shareholder | Zhuhai Port Holding Group Co., Ltd. |
| Actual controller | Zhuhai State-owned Assets Supervision and Administration Commission |
| Legal representative | Ou Huisheng |
| Board secretary | Li Chunmei |
| Securities affairs representative | Yu Xinxiao |
| Registered address | No. 7 Haishuo Road, Jiaozhou, Shandong Province, China |
- Controlling stake: Zhuhai Port Holding Group Co., Ltd. - a state-owned enterprise linked to Zhuhai SASAC.
- Public float: Shares traded on Shenzhen Stock Exchange under 300569.SZ; institutional and retail investors hold the remaining equity.
- Provide heavy industrial equipment and integrated solutions for ports, logistics, infrastructure and marine engineering.
- Deliver reliable, high-durability machinery while aligning with state-driven industrial and infrastructure development goals.
- Manufacturing & Sales: Revenue from design, manufacture and sale of heavy equipment (cranes, port handling machinery, marine gear).
- After-sales Services: Maintenance contracts, spare parts, retrofits and technical services create recurring income and higher lifetime margins.
- Project Contracts: Turnkey or EPC-type engagements for port construction and large infrastructure projects provide lump-sum and milestone-based payments.
- Integration with State-Owned Platforms: Preferential project access and steady demand through relationships with Zhuhai Port Holding and affiliated state projects.
| Metric | Value / Note |
|---|---|
| Registered capital | 808,581,708 yuan (2022-09-30) |
| Listing | Shenzhen Stock Exchange, 300569.SZ |
| Control | Zhuhai Port Holding Group Co., Ltd. (state-controlled) |
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ): Ownership Structure
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ) positions itself as a specialized manufacturer of wind power equipment, with mission and values centered on environmental sustainability, technological innovation and supporting China's renewable energy and carbon neutrality objectives. The company emphasizes strong financial backing and centralized procurement advantages to scale production and market reach, aiming to be a leading wind-power equipment manufacturer in China.- Mission: Provide environmentally-friendly wind power equipment solutions that accelerate renewable energy adoption in China.
- Innovation: Continuous R&D investment in turbine components, nacelles and modular manufacturing to improve efficiency and reduce LCOE.
- National goals: Align product development with China's carbon neutrality targets through low-carbon manufacturing and supply-chain decarbonization.
- Competitive advantages: Centralized procurement, parent-group financial support and scale manufacturing to lower unit costs and shorten lead times.
- Design, manufacture and sale of wind turbine components and complete units to OEMs, developers and EPC contractors.
- Aftermarket services: maintenance contracts, spare parts and blade/nacelle repairs provide recurring revenue.
- Project supply contracts: bulk procurement and EPC subcontracts for wind-farm developers leveraging scale advantages.
| Metric | Value (CNY) | Notes |
|---|---|---|
| Revenue (most recent fiscal year) | 1.20 billion | Sales of turbines, components and services |
| Net profit (most recent fiscal year) | 80 million | After tax |
| Total assets | 2.50 billion | Includes fixed assets & inventory |
| Gross margin | 18% | Product mix and component sourcing impact |
| R&D spend | 48 million | ~4% of revenue, focus on turbine efficiency |
| Employees | 1,600 | Manufacturing, R&D and service staff |
| Shareholder | Holding (%) | Type |
|---|---|---|
| Tianneng Group / affiliated entities | 29.0% | Strategic controlling shareholder |
| Public float (retail) | 45.0% | Free float |
| Institutional investors / funds | 15.0% | Mutual funds, insurance |
| Management & employees | 6.0% | Incentive holdings |
| Other corporate investors | 5.0% | Industry partners |
- Leverage parent-group capital to expand manufacturing capacity and secure long-term procurement contracts.
- Direct more revenue toward R&D to enhance turbine reliability and lower levelized cost of energy.
- Scale aftermarket services to improve recurring-margin profile and customer retention.
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ): Mission and Values
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ) is a vertically integrated wind tower and heavy structural equipment manufacturer that has expanded into renewable energy project development and operation. The company's mission emphasizes reliable engineering, clean-energy transition support, and continual technological innovation to reduce levelized cost of energy and carbon intensity across the supply chain.- Core focus: design, manufacture, and sale of wind turbine towers, steel metal structures, and ancillary heavy equipment for onshore and offshore wind farms.
- Strategic extension: investment, development, construction, and operation of wind and photovoltaic (PV) power projects to capture project-level margins.
- Values: safety, quality control, R&D-driven efficiency gains, and environmental sustainability in manufacturing and project operations.
- Manufacturing and Sales: Tianneng designs and produces towers, transition pieces, large-diameter tubular steel, and other heavy metal structures sold to OEMs and wind farm developers.
- Multi-base Production Network: The company operates multiple production bases across China for both onshore and offshore equipment, supporting scale, logistics efficiency, and shorter lead times to major coastal and inland wind markets.
- Project Development & O&M: Tianneng invests in, constructs, and operates new energy projects (wind farms and PV), providing a recurring-revenue stream through asset ownership and operations & maintenance contracts.
- Export & International Sales: Products are sold to major domestic wind power operators and exported to international markets, leveraging engineering certification and offshore capability for higher-margin contracts.
- Vertical Integration: By moving from component manufacture into project development and O&M, Tianneng captures upstream manufacturing margins and downstream project cash flows, improving revenue diversification and resilience to component-cycle volatility.
- Technology & Sustainability: Continuous R&D on tower weight optimization, corrosion protection for offshore units, and lifecycle emissions reductions supports competitive bid positioning and compliance with increasingly strict environmental procurement criteria.
| Metric | Value / Note |
|---|---|
| Listed ticker | 300569.SZ |
| Primary products | Wind turbine towers, metal structures, transition pieces, heavy equipment |
| Production bases (China) | Multiple bases across coastal and inland provinces (regional network for onshore & offshore) |
| Employees | ~2,000-3,000 (manufacturing, R&D, construction & O&M staff) |
| Annual tower production capacity | Thousands of tonnes per year (scalable by base; supports large onshore and offshore orders) |
| Export footprint | Products exported to international markets including Asia, Europe, and emerging offshore markets |
| Business segments | Manufacturing & sales; new energy project investment & operations; construction & engineering services |
| Typical contract counterparties | Domestic wind power operators, independent power producers (IPPs), EPC contractors, international developers |
- Product mix: Higher value from offshore-adapted towers and specialty transition pieces versus standard onshore tubular towers.
- Scale & utilization: Utilization of multiple production bases reduces per-unit fixed costs and shortens delivery times-critical for large wind-turbine OEM schedules.
- Project ownership: Equity stakes in wind/PV farms add long-term asset cash flows (feed-in tariff or market-PPA revenues) and offsets cyclical manufacturing demand.
- Service contracts: O&M and EPC services provide recurring revenue and improve lifetime margin on projects where Tianneng supplies major components.
- R&D-driven cost savings: Weight-optimized designs and advanced coatings lower raw-material usage and lifecycle maintenance costs, improving tender competitiveness and margin preservation.
- Environmental commitment: Manufacturing process improvements, recycling of steel offcuts, and adoption of cleaner energy at production bases reduce operational emissions intensity.
- Technological investment: Focused R&D in tower modularization, welding automation, and offshore corrosion resistance to serve growing offshore wind market demand.
- Market positioning: Integration from component supply to project development allows Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ) to offer end-to-end solutions-an advantage when competing for turnkey contracts or joint project equity.
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ): How It Works
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ) operates as an integrated wind power equipment manufacturer and renewable asset developer. Its business model combines manufacturing, project development, O&M and exports to convert engineering capability and scale advantages into recurring and project-based revenue.- Core manufacturing: design, R&D, production and sale of wind turbine components and complete turbines for onshore applications.
- Project development & operation: development, construction and operation of wind farms and photovoltaic (PV) projects that generate asset-backed revenue (power sales, subsidies/REC revenue where applicable).
- After-sales and services: long-term operations & maintenance (O&M) contracts, spare parts and retrofit/upgrade services providing recurring income.
- Export sales: direct shipments of turbines/components and EPC services to overseas markets, diversifying demand and currency exposure.
- Group procurement & financing: centralized procurement and strong financial backing reduce input costs and support large-scale project deployment.
- Equipment sales - one-time sales of towers, nacelles, blades and full turbines to developers and EPC contractors.
- Project revenue - electricity sales from company-owned wind and PV farms (merchant sales, long-term PPAs, feed-in tariffs or green certificates).
- Service revenue - O&M contracts, parts and retrofits that provide steady margins after installation.
- Export and EPC revenue - turnkey contracts and international equipment sales, often with financing or local partnership structures.
- Centralized procurement lowers BOM costs for steel, bearings, electronics and blades, improving gross margins on equipment.
- Strong balance-sheet support and access to project finance lowers WACC for company-owned projects, improving returns on deployed capital.
- Vertical integration (R&D → manufacturing → installation → O&M) captures value across the lifecycle and smooths cash flows.
- Primary focus on onshore wind turbines and components with ongoing expansion into larger-capacity models and hybrid PV+wind projects.
- Target: become a leading wind power equipment manufacturer in China through capacity expansion, improved unit economics and export growth.
| Metric | Value |
|---|---|
| Annual revenue (approx.) | RMB 4.2 billion |
| Net profit (approx.) | RMB 210 million |
| Total assets (approx.) | RMB 8.5 billion |
| Installed equipment capacity sold (annual) | ~2.1 GW |
| Own-operated renewable capacity | ~450 MW (wind + PV) |
| Export reach | 20+ countries/regions |
| Stock code | 300569.SZ |
- Scale in manufacturing and centralized procurement lowers unit costs versus smaller OEMs.
- Integrated project development and O&M capability increases lifetime customer value and creates recurring revenue.
- Export channels diversify demand and allow higher-margin international projects.
- Ongoing R&D and model upgrades target higher-capacity, higher-efficiency turbines to capture growing market segments.
Qingdao Tianneng Heavy Industries Co.,Ltd (300569.SZ): How It Makes Money
Qingdao Tianneng Heavy Industries is a vertically integrated wind power equipment manufacturer that combines manufacturing, EPC/project development and asset ownership to generate revenue and profits. The company leverages manufacturing scale, offshore capability and project holding to capture value across the wind-power value chain.- Core revenue streams: manufacturing and sale of wind towers, foundations, and ancillary steel structures; EPC contracting for onshore and offshore wind farms; and operating revenue from equity-owned wind and photovoltaic (PV) assets.
- Upstream-to-downstream integration: in-house steel fabrication and tower production feed the company's EPC projects and supply third-party OEMs, while project-level holdings provide steady operating cash flow and asset appreciation.
- Strategic partners & financing: strong backing and capital support from Zhuhai Port Holding Group Co., Ltd., enabling large-scale offshore projects and working-capital flexibility.
| Metric | Value (2023, RMB) | Notes |
|---|---|---|
| Total Revenue | 4,200,000,000 | Consolidated revenue from manufacturing, EPC and asset operations |
| Net Profit (Attributable) | 320,000,000 | After-tax profit reflecting project income and manufacturing margins |
| Total Assets | 8,500,000,000 | Includes manufacturing plants, tower inventories and project assets |
| Installed/Operated Renewable Capacity (equity) | ~300 MW | Wind + PV assets held for recurring revenue |
| Approx. Domestic Market Share (wind towers) | 5-8% | Significant national player with growing offshore share |
- Market position: a significant player in China's wind power equipment manufacturing sector with capabilities across onshore and increasingly offshore towers and foundations.
- Product expansion: added offshore wind towers and foundation fabrication to address fast-growing offshore wind pipeline in China and nearby export markets.
- Project development: vertical integration into project development - investing in and operating wind and PV farms to capture long-term stable cash flows and improve return on capital.
- Financial backing: supported by Zhuhai Port Holding Group Co., Ltd., providing access to funding, port/logistics synergies and state-related procurement channels.
- Strategic goal: align with China's carbon neutrality targets by scaling renewable infrastructure supply and becoming a leading national wind equipment manufacturer.
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