电新行业2025Q2前瞻及策略展望

长江证券股份有...2025-07-15

当前基本面展望：1、海风：Q2海风开工提速，业绩修复拐点明确，深远海、出海理顺中长期需求。短期，Q2国内海风建设加快，管桩企业出货交付同环比加速放量，海缆头部企业已开始排产，预计Q2开始海风产业链有望迎来业绩修复拐点。中长期看，从当前项目储备看，我们预计25-26年国内海风装机达11-12GW、15GW具备支撑，有望实现较快增长。同时，国内深远海积极推进，海外海风预计有望从2026年开始装机放量，...

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