On the evening of August 17, Power Transmission said it planned to build a wind power accelerator smart factory project in Yinchuan Economic Development Zone, with a planned total investment of about 5 billion yuan, of which 3.6 billion yuan of fixed assets.

On August 9, Power Transmission was listed on the GEM of the Shenzhen Stock Exchange and was regarded as the “first share of private wind power reducer”.

Statistics show that the top 5 enterprises with new hoisting capacity of wind power in the domestic market in 2022 (total market share of about 75%) have established business cooperation with Weil transmission and progressed to the batch supply stage; Nine of the top 10 companies (with a combined market share of about 93%) have established business cooperation with Weinig Drives, and eight of them (with a combined market share of about 91%) have progressed to the volume supply stage.

As one of the core components of wind turbine, wind power reducer has high industry barriers. Weinig’s share in the wind power reducer market increased from about 5% in 2019 to about 17% in 2021.

It is worth noting that Power transmission announced on June 28 that the company has successfully developed and tested the doubly-fed wind turbine turbocharger, and obtained the 5.5MW doubly-fed turbocharger design and manufacturing certification from Beijing Jianheng Certification Center, marking that the company has the advanced level of wind power turbocharger industry design and manufacturing. At present, the doubly-fed wind turbine speeder developed by the company has been put into production conditions; At the same time, the successful development of the company’s onshore high-power, high-power density semi-direct drive wind turbine speeder is imminent, and it is expected to produce a prototype and test in August 2023.

In the latest disclosure announcement, Power transmission said that the company intends to build the wind power accelerator smart factory project, after completion, will further expand the company’s productivity and profitability, and help continue to consolidate the company’s leading position in the field of wind power gear transmission equipment in China.