Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ) Bundle
Born in 1995 and listed on the Shenzhen Stock Exchange in 2010 under ticker 300129, Shanghai Taisheng Wind Power Equipment Co., Ltd. - renamed TSP Wind Power Group Co., Ltd. in March 2025 - has grown into a global onshore and offshore wind and marine engineering equipment maker with more than 10 production facilities across China and a branch in Frankfurt, a registered capital of 934,899,232 yuan (as of 30 Sept 2024), a 2024 export sales jump of 0.889 billion yuan (+36.83% YoY) with a gross margin of 26.68%, and an order book of about 4.917 billion yuan late 2024; vertically integrated from design through after-sales, the company supplies towers, jackets, monopiles and substations to 40+ countries while advancing zero-carbon projects across Xinjiang, Guangxi, Heilongjiang, Inner Mongolia and Shaanxi set to begin construction in 2026, guided by a board led by President Tao Zou and CFO Hua Zhu and anchored in innovation, sustainability and expanding global market share.
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ): Intro
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ) - renamed TSP Wind Power Group Co., Ltd. in March 2025 - is a China-based designer and manufacturer of onshore and offshore wind power equipment and high-end marine engineering equipment. The company began operations in 1995 and was listed on the Shenzhen Stock Exchange in 2010 under ticker 300129. By 2024 it had expanded into a globally oriented supplier with more than 10 production facilities across China and an overseas branch office in Frankfurt, Germany. As of late 2025, TSP Wind Power Group remains an established participant in wind power equipment manufacturing.- Founded: 1995 (entry into wind power equipment manufacturing)
- Listing: 2010, Shenzhen Stock Exchange - 300129.SZ
- Corporate rename: March 2025 → TSP Wind Power Group Co., Ltd.
- Geographic footprint: >10 production facilities in China; Frankfurt branch (Germany)
- Business scope: onshore & offshore wind turbines and components; high-end marine engineering equipment
| Year / Milestone | Detail |
|---|---|
| 1995 | Company established; began manufacturing wind power equipment |
| 2010 | Listed on Shenzhen Stock Exchange (300129.SZ) |
| 2024 | Recognized as professional manufacturer of onshore/offshore wind and marine equipment; global clients |
| March 2025 | Renamed TSP Wind Power Group Co., Ltd. |
| Late 2025 | Continues as a significant player with >10 China production sites and Frankfurt branch |
- Share structure: publicly traded company on SZSE (ticker 300129.SZ) with institutional and retail investors.
- Major shareholders: combination of strategic industrial investors, institutional funds and management holdings (standard for listed Chinese manufacturers).
- Board & management focus: engineering R&D, industrialization of larger-capacity nacelles and offshore foundation systems, and international business development.
- Mission: to supply reliable, high-performance wind power and marine engineering equipment that supports global energy transition and offshore infrastructure.
- Strategic pillars:
- Product innovation - nacelles, blades, towers, and offshore foundations.
- Scale manufacturing - >10 domestic plants to lower unit costs and serve regional markets.
- Global expansion - Frankfurt branch to support European offshore and service operations.
- R&D and design: in-house engineering for turbine components, offshore foundations and marine equipment.
- Manufacturing: multiple production lines for nacelles, blade assembly, tower fabrication, and large steel structures.
- Supply chain: integration with suppliers of steel, bearings, gearboxes (where applicable), pitch/yaw systems, and electrical components.
- Testing & certification: type testing, prototype commissioning, and offshore qualification to meet international standards.
- After-sales & O&M services: parts, maintenance contracts, and on-site technical support, including European presence via Frankfurt.
- Product sales: one-time revenue from sale of turbines, nacelles, blades, towers and marine engineering equipment to developers and EPC contractors.
- Engineering & EPC contracts: turnkey supply and installation projects, especially for onshore and smaller offshore projects.
- After-sales services: spare parts, service agreements, and performance upgrades (recurring revenue and margin accretive).
- Component sales to OEMs: supplying large structural components to other turbine manufacturers and marine engineering firms.
- Export sales: orders from overseas developers and integrators, supported by the Frankfurt office for European projects.
- Manufacturing footprint: more than 10 production facilities across China to support both domestic utility-scale and export markets.
- International presence: Frankfurt branch serves as a hub for European sales, service and project coordination.
- Product range: covers onshore turbines and components, offshore foundations and high-end marine engineering equipment, enabling integrated project bids.
- Order backlog and new contracts (onshore vs offshore split)
- Capacity utilization across production facilities
- Gross margin by product line (nacelles, blades, towers, marine structures)
- Export revenue percentage and regional diversification
- R&D spend and new product certification milestones
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ): History
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ) was established to design, manufacture and supply wind-turbine components and balance-of-system equipment for onshore and offshore projects. Since listing on the Shenzhen Stock Exchange under ticker 300129, the company has expanded capacity, standardized corporate governance, and positioned itself to capture growth from China's renewable-energy buildout.- Listed: Shenzhen Stock Exchange (300129.SZ)
- Registered capital (as of 2024-09-30): 934,899,232 yuan
- Core business: manufacture of wind turbine components, nacelles, hubs, and related installation/maintenance services
- Primary customers: wind farm developers, EPC contractors, and aftermarket service providers
| Item | Data / Key People |
|---|---|
| Registered capital (2024-09-30) | 934,899,232 yuan |
| Exchange / Ticker | Shenzhen Stock Exchange / 300129.SZ |
| President & Non-Independent Director | Tao Zou |
| Chief Financial Officer | Hua Zhu |
| Vice President | Jian Min Zhao |
- Shareholder mix: a combination of institutional investors and individual shareholders; exact percentages fluctuate with market trades and disclosed block transactions.
- Board composition: includes executive management and non-independent directors intended to align operational control with shareholder oversight.
- Public disclosures: detailed shareholder lists, top-10 shareholders, and related-party transactions are available via Shenzhen Stock Exchange filings and company reports.
- R&D & design: develop turbine components and adapt designs for regional conditions (onshore/offshore).
- Manufacturing: factories produce hubs, nacelles, transmission parts and perform quality testing.
- Sales & contracts: revenue from product sales, long-term supply contracts with developers, and aftermarket service agreements.
- Installation & service: supplementary margins from installation supervision, commissioning, and O&M contracts.
- Equipment sales: one-time revenue from turbines, nacelles, and major components (largest share of revenue historically).
- Long-term supply contracts: multi-year orders provide predictable revenue and working-capital planning.
- Aftermarket services: maintenance, spare parts and performance upgrades yield recurring, higher-margin income over asset lifetimes.
- Project support & engineering services: fees for customization, installation supervision and commissioning.
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ): Ownership Structure
- Mission: Shanghai Taisheng Wind Power Equipment Co., Ltd. is committed to providing high‑quality wind power equipment and services to support the global transition to renewable energy.
- Innovation: the company continuously invests in research and development to enhance turbine component performance, reliability, and efficiency.
- Sustainability: a core principle - focusing on reducing environmental impact through production of clean‑energy solutions and lower‑carbon manufacturing processes.
- Customer satisfaction: prioritizes delivering reliable, cost‑effective products tailored to developers, EPCs, and service providers.
- Integrity & transparency: fosters ethical business practices and disclosure consistent with being a publicly listed Shenzhen A‑share (300129.SZ).
- Industry contribution: dedicated to advancing wind power technology and supporting global energy transition targets.
How ownership is typically structured for a Shenzhen‑listed manufacturing group like Shanghai Taisheng Wind Power Equipment Co., Ltd.:
- Major strategic shareholders (founders, corporate groups or state‑owned investors) commonly hold controlling blocks ranging from ~25%-50% of total equity in similar listed peers.
- Institutional investors (mutual funds, insurers, asset managers) and strategic industry partners often collectively represent a substantial free float component.
- Management and employee ownership is maintained via stock incentive plans to align interests with long‑term performance.
- Cross‑shareholdings with downstream or upstream suppliers (e.g., nacelle, blade or tower specialists) are possible to secure supply chains and integrated projects.
| Metric | Value (FY2023, indicative) |
|---|---|
| Revenue | RMB 1.2 billion |
| Net profit | RMB 120 million |
| R&D spending (% of revenue) | ≈5% |
| Employees | ~1,200 |
| Production footprint | Multiple facilities in Shanghai region + provincial workshops |
| Installed capacity supported (components supplied) | ~8 GW cumulative |
How the ownership structure influences strategy and operations:
- Major shareholders set long‑term capital allocation priorities (R&D, capacity expansion, overseas market entry).
- Institutional holders pressure for governance, profitability and dividend policies consistent with A‑share market norms.
- Employee/share incentive programs align operational performance with shareholder returns and support retention of technical talent.
For a concise company overview and extended history, see: Shanghai Taisheng Wind Power Equipment Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ): Mission and Values
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ) - now operating as TSP Wind Power Group Co., Ltd. since March 2025 - is a vertically integrated wind-tower and wind-equipment manufacturer focused on delivering full-chain solutions for onshore and nearshore wind-energy customers domestically and internationally. How It Works- Design: In-house R&D teams develop tower architectures, modular connections, and site-adapted solutions for varied turbine sizes and wind regimes.
- Manufacturing: More than 10 production facilities across China produce rolled steel plates, flange assemblies, painting/anti-corrosion systems and final tower assembly.
- Logistics & Export: A dedicated logistics function manages inland and port transport for domestic projects and international shipments (including an overseas branch office in Frankfurt, Germany).
- Sales & After-sales: Direct corporate sales to OEMs and EPCs plus lifecycle services (inspection, OEM spare parts, refurbishment and on-site support).
- Zero-carbon business development: Project development and operation of wind farms in Xinjiang, Guangxi, Heilongjiang, Inner Mongolia and Shaanxi; several projects are expected to begin construction in 2026.
| Item | Detail |
|---|---|
| Corporate listing | Shenzhen Stock Exchange, ticker 300129.SZ |
| Corporate name (post-Mar 2025) | TSP Wind Power Group Co., Ltd. |
| Production bases (selected) | Changji, Hebei, Guangxi, Inner Mongolia, Anhui, Yangzhou |
| Total production facilities | More than 10 facilities across China |
| Overseas presence | Branch office in Frankfurt, Germany |
| Business model | Vertically integrated: design → manufacturing → sales → after-sales & service |
| Zero-carbon projects (regions) | Xinjiang, Guangxi, Heilongjiang, Inner Mongolia, Shaanxi (construction starts expected 2026) |
- Primary revenue: Manufacturing and sale of wind towers and related steel structures to turbine OEMs and EPCs (domestic and export markets).
- Service revenue: After-sales maintenance, spare parts, retrofits and site services across the asset lifecycle.
- Project development revenue (growth area): Wind farm development, construction and operation anticipated to contribute annuity-like power sales and renewable energy certificates once projects enter operation.
- Export & international advisory: Engineering support and logistics for overseas projects through the Frankfurt office.
| Metric | Notes |
|---|---|
| Production coverage | Full tower fabrication process: plate rolling → welding → flange machining → coating → assembly |
| Integration | In-house R&D, production, quality control and lifecycle services reduce outsourcing and improve margin capture |
| Project pipeline (zero-carbon) | Multiple wind-farm projects across five provinces/regions with construction slated to start in 2026 |
| Export support | Frankfurt branch provides market intelligence, customer service and export logistics coordination for Europe |
- Scale and regional coverage: Multiple specialized bases allow load balancing, regional logistics optimization and capacity flexibility.
- Vertical integration: Controls key cost and quality levers across tower lifecycle, improving responsiveness to OEM/EPC specifications.
- Energy-transition expansion: Moving from component supplier toward wind-farm developer/operator to capture long-term cashflows from power generation.
- International expansion: Frankfurt office and export capability to serve European and other overseas customers directly.
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ): How It Works
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ) generates revenue and delivers value through an integrated wind-power-equipment manufacturing, export, and project-operations model that targets utility-scale onshore and offshore wind markets worldwide.- Core product sales: onshore and offshore wind towers (steel and concrete), rotor sail support towers, jackets, monopiles, and substations with jacket platforms.
- Project-level services: development, EPC, and operation of wind farms (zero-carbon business) providing recurring electricity and O&M income streams.
- After-sales services and spare parts, installation support, and long-term service agreements for tower and substation assets.
- Export-driven international sales: established customer base in more than 40 countries and regions, supporting geographic diversification.
| Item | 2024 / Late‑2024 Value | Notes |
|---|---|---|
| Export sales revenue | 0.889 billion yuan | Increased 36.83% year‑on‑year in 2024 |
| Export gross margin | 26.68% | Gross margin for export sales in 2024 |
| Order book (ongoing & pending) | 4.917 billion yuan | Figures stated as of late 2024 |
| Global markets served | More than 40 countries/regions | Export footprint across multiple continents |
| Primary revenue channels | Equipment sales, project development & operation, services | Includes zero‑carbon business activities |
- Manufacturing & supply chain: in‑house fabrication of tower sections, foundation structures (monopiles, jackets), and substation jacket platforms; scale and vertical capabilities reduce unit costs and improve delivery lead times.
- Order-to-revenue flow: tendering → contract award → fabrication → delivery & installation → commissioning → O&M revenue (for projects where the company retains operating rights).
- Export economics: higher margin and volume growth internationally (export sales up 36.83% in 2024) while maintaining a 26.68% gross margin on exported products.
- Balance sheet & backlog support: a ~4.917 billion yuan order book underpins near‑term revenue visibility and production planning.
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ): How It Makes Money
Shanghai Taisheng Wind Power Equipment Co., Ltd. (300129.SZ) monetizes its wind-energy expertise through manufacturing, project development, and services - leveraging more than two decades of industry experience and a growing global footprint.
- Core manufacturing: design and production of wind turbine components (nacelles, gearboxes, generators), blades, and tower systems, including promotion of mixed-tower production capacity.
- Project development: wind farm development and equity participation across China (Xinjiang, Guangxi, Heilongjiang, Inner Mongolia, Shaanxi) with new projects expected to begin construction in 2026, targeting zero‑carbon business models.
- Exports and overseas sales: direct sales of complete units and components to international OEMs and EPC contractors, with a rapidly expanding export presence.
- After-sales & O&M services: long-term maintenance contracts, spare parts supply, and lifecycle service agreements that provide recurring revenue.
- Technology & capacity upgrades: revenue uplift via higher-value products (larger-capacity turbines, mixed-tower solutions) as new production bases come online.
| Metric | Value / Note |
|---|---|
| Industry tenure | Over 20 years (one of China's earliest wind power manufacturers) |
| Export sales revenue (2024) | 0.889 billion yuan |
| Export sales YoY growth (2024) | +36.83% |
| Global recognition | Ranked among top 500 global new energy enterprises for consecutive years |
| Planned project construction | Wind farm projects across Xinjiang, Guangxi, Heilongjiang, Inner Mongolia, Shaanxi - expected start 2026 |
| Strategic investments | New production bases and mixed-tower capacity expansion; R&D and technology upgrades |
Market position and future outlook: as a pioneer in China's wind sector, the company's continuous ranking among the top 500 global new energy enterprises, accelerating export growth (+36.83% YoY to 0.889 billion yuan in 2024) and investments in capacity and zero-carbon projects position it to capture rising global demand for renewables and secure diversified, recurring revenue streams.
Related reading: Shanghai Taisheng Wind Power Equipment Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
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