Dajin Heavy Industry wins significant offshore wind monopile order

Dajin Heavy Industry Corporation announced that its wholly-owned subsidiary, Penglai Dajin Ocean Heavy Industry Co., Ltd., has signed its first offshore wind foundation supply contract under a long-term locked-production agreement with an overseas offshore wind power developer. This contract, valued at approximately RMB 1.25 bn, represents 33% of the company's 2024 audited operating revenue. Penglai Dajin will supply ultra-large offshore wind monopiles, transition pieces, and ancillary structures for an overseas offshore wind project.

This new agreement follows a prior long-term locked-production protocol signed in April 2024, where the client committed to locking in up to 400,000 tonnes of manufacturing capacity for offshore wind foundation structures with Penglai Dajin through the end of 2030, paying €14m in locked-production fees. The products under the new contract are expected to be delivered by 2026.

The company anticipates that the execution of this contract will positively impact its operating performance in 2026. However, Dajin Heavy Industry cautioned investors that the project’s long implementation cycle and settlement in foreign currency introduce uncertainty regarding the final revenue amount and timing.