Daily Investment Strategy
Daily focus：Goldwind (2208)
Goldwind Science & Technology delivered strong performance in the third quarter of 2025, with net profit attributable to shareholders reaching RMB 1.097 billion, a 170.64% year-on-year increase. Revenue also increased by 25.40% to RMB 19.61 billion. For the first three quarters, the company's net profit reached RMB 2.584 billion, a 44.21% year-on-year increase; revenue increased by 34.34% year-on-year, primarily due to increased sales of wind turbines and components. Operationally, the core driver of performance growth came from wind turbine sales. In the first three quarters of 2025, the company's external sales capacity reached 18,449.70 MW, a year-on-year increase of 90.01%. The proportion of large-capacity units increased significantly, with sales of units 6 MW and above accounting for 86.06%. As of the end of September 2025, the company's external orders totaled 49,873.87 MW, of which 7,161.72 MW were overseas orders, providing strong support for future sales.
US-China trade talks reach "basic consensus"
The weekend's most concerning macroeconomic focus was the high-level US-China trade talks held in Kuala Lumpur. Reports indicate that US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng have reached a "basic consensus," finalizing the framework for the "Xi-Trump meeting" to be held during the Asia-Pacific Economic Cooperation (APEC) summit at the end of the month. This news had a positive immediate impact on the market, significantly reducing the risk of a sharp escalation in the trade war on November 1st, including the US's threat to impose 100% punitive tariffs and China's threat to expand rare earth export controls. This is expected to boost risk appetite at the Monday market opening. However, fundamental macroeconomic conflicts remain. The US also signed a critical minerals agreement with ASEAN countries, including Thailand and Malaysia, to diversify supply chains, demonstrating that Washington's long-term strategy of "de-risking" in strategic sectors such as rare earths remains unchanged.
Hong Kong Stock Connect recorded a net inflow of HK$3.41 billion on Friday, with Meituan-W (3690) receiving the largest net inflow of HK$655 million, followed by SMIC (981). On the other hand, Pop Mart (9992) recorded the largest net outflow of 629 million, followed by CSPC Pharmaceutical Group (1093).
Leung Kai Tong is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to https://apps.sfc.hk/publicregWeb/indi/ADU276/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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