Analysis of Goldwind's Direct-Drive Permanent Magnet Technology Supporting Overseas Market Expansion

Based on the obtained data of Goldwind Technology (002202.SZ) and its technical characteristics, I will analyze in detail how direct-drive permanent magnet technology supports the improvement of its overseas market share:

Goldwind Technology, as a leading Chinese wind power equipment enterprise, shows the following data as of December 31, 2025 [0]:

• Market Capitalization
  : $861.2 billion
• Stock Price Performance
  : Up 103.80% for the full year 2025, with a 98.83% increase in the past 6 months
• Current Stock Price
  : $20.40, in the historical high range

Direct-drive permanent magnet technology is Goldwind’s core competitiveness. Compared with traditional doubly-fed wind turbines, this technology has the following significant advantages:

• Eliminates the gearbox, a traditional high-failure component, significantly reducing mechanical failure rates
• Reduces the lubricating oil circuit system, lowering maintenance frequency and costs
• Labor costs in overseas markets are high, so the low-maintenance feature is particularly important

• Permanent magnet generators are more efficient and perform excellently under low wind speed conditions
• Adapt to complex wind resource conditions and expand developable areas
• Direct drive design reduces energy conversion losses

• Simplifies the transmission system, improving overall equipment reliability
• Suitable for difficult operation and maintenance scenarios such as offshore wind power
• Longer service life and better whole-life cycle economy

• Mature markets such as Europe and the US value Levelized Cost of Electricity (LCOE), and Goldwind’s technology meets this demand
• The proportion of offshore wind power projects is increasing, and direct-drive technology has strong applicability at sea
• Operation and maintenance convenience meets the needs of overseas project development

• China has abundant rare earth resources, ensuring stable supply of permanent magnet materials [0]
• Large-scale production brings cost competitiveness
• Improved technology maturity, and product quality has gained international recognition

• Sustained stock price growth reflects market recognition of the company’s internationalization strategy
• Has project layouts in Southeast Asia, the Middle East, Europe, and other regions
• Secures orders with technology cost-performance advantages

• Uncertainties in the international trade environment may affect overseas expansion
• Some markets have localization protection policies

• International giants are accelerating technology iteration
• Growth of local enterprises brings competitive pressure

• Overseas project settlements involve multiple currencies
• Exchange rate fluctuations affect profit stability

Goldwind Technology has significant advantages in overseas market expansion with its core competitiveness built on direct-drive permanent magnet technology. The low operation and maintenance costs and high reliability brought by the technology make it highly competitive in the era of grid parity. It is recommended to pay attention to the company’s overseas order acquisition and capacity layout progress, and seize the opportunity for valuation improvement.