In-depth Analysis Report on Private Placement of Taisheng Wind Energy (300129)

According to the latest announcement,

, the controlling shareholder of Taisheng Wind Energy, fully subscribed 173,954,013 shares issued by the company in cash at a price of , with a total subscription amount of approximately [1]. After the completion of this issuance, Guangzhou Kaide’s shareholding ratio increased significantly from [2], further consolidating its status as the controlling shareholder.

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Indicator	Value	Analysis
Private Placement Price	RMB 6.76	Historical pricing benchmark
Current Share Price	RMB 15.36 (2026-01-09)	127% premium over the private placement price
20-day Moving Average	RMB 10.10	Short-term cost center
50-day Moving Average	RMB 9.01	Mid-term cost center
Historical High	RMB 16.79	Recent resistance level

• The current share price is approximately
  127% higher
  than the private placement price, indicating that the privately placed shares are in a state of deep unrealized profit[0]
• The share price is much higher than all moving average systems, showing an obvious bullish alignment technically
• The private placement price provides
  strong downside support
  for the current share price

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Impact Dimension	Specific Performance
Confidence Endorsement	The controlling shareholder’s large-scale cash subscription demonstrates strong confidence in the company’s future development
Share Concentration	The shareholding ratio increased from 26.93% to 38.39%, which helps with the consistency of the company’s strategic execution
Capital Support	Approximately RMB 1.176 billion in cash injection enhances the company’s capital strength and supports core business development
Structure Optimization	Optimizes the shareholding structure and improves the company’s risk resistance and long-term stability[2]

Consideration	Explanation
Dilution Effect	The newly added share capital will dilute earnings per share, and attention should be paid to whether future performance can match it
Lock-up Period	The controlling shareholder cannot reduce its holdings during the lock-up period, locking up a considerable proportion of tradable shares
Pricing Timing	The private placement price is a historical benchmark price, and the current price has deviated significantly, so attention should be paid to the risk of correction

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┌─────────────────────────────────────────────────────────────┐
│  Safety Margin Hierarchy Analysis                          │
├─────────────────────────────────────────────────────────────┤
│  🥇 1st Support: Private Placement Price RMB 6.76 ← Absolute Bottom Support │
│  🥈 2nd Support: 50-day Moving Average RMB 9.01 ← Mid-term Trend Support │
│  🥉 3rd Support: 20-day Moving Average RMB 10.10 ← Short-term Trend Support │
├─────────────────────────────────────────────────────────────┤
│  🔴 Risk Zone: Current Share Price RMB 15.36 ← Short-term Overbought, Needs Consolidation │
│  🟠 Resistance Zone: Previous High RMB 16.79 ← Short-term Pressure Level │
└─────────────────────────────────────────────────────────────┘

Assessment Dimension	Score	Explanation
Private Placement Price Support	⭐⭐⭐⭐⭐	RMB 6.76 is anchored at the historical bottom, with extremely strong support
Fundamental Support	⭐⭐⭐⭐	P/E ratio of 57.6x is at the upper-mid level in the industry, but performance growth is good
Technical Support	⭐⭐⭐	Short-term overbought, with demand for technical correction
Capital Support	⭐⭐⭐⭐⭐	The controlling shareholder’s large-scale subscription provides strong capital confidence

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Based on technical analysis indicators[0]:

• Trend Judgment
  : In an upward trend (pending confirmation)
• Buy Signal
  : Triggered on December 25
• KDJ Indicator
  : K=85.9, D=81.4, J=95.0 →
  In the overbought zone
• MACD Indicator
  : Bullish alignment, no death cross appears
• Key Levels
  : Support level at RMB 11.43, resistance level at RMB 16.79, next target at RMB 17.75

: The current share price deviates far from the moving average, and there is a need for a pullback confirmation[0]

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Assessment Item	Conclusion
Private Placement Price Safety Margin	Available — The private placement price of RMB 6.76 provides a downside safety margin of approximately 56% for the current share price
Controlling Shareholder Confidence	Positive — Full cash subscription shows high recognition of the company’s long-term development
Short-term Risk	Medium — Technical overbought + 127% deviation of share price from private placement price, need to be alert to short-term correction
Mid-to-Long-term Value	Promising — Capital injection + shareholding optimization is conducive to the company’s sustainable development

1. Conservative Investors
   : Wait for the share price to pull back to the
   RMB 10-11 range
   (near the 20-day/50-day moving average) before positioning
2. Aggressive Investors
   : Consider building positions in batches near
   RMB 12-13
   and set stop-losses
3. Private Placement Price of RMB 6.76
   can be regarded as an
   absolute support level
   , with a low probability of breaking below

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• The share price has risen too much in the short term (86% increase in 3 months), with the risk of technical correction[0]
• Privately placed shares cannot be traded during the lock-up period, so attention should be paid to liquidity changes
• Policy changes in the wind power industry may affect the company’s performance expectations
• The P/E valuation of 57.6x is relatively high, and performance growth is needed to digest the valuation

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[1] Eastmoney - Taisheng Wind Energy: Controlling Shareholder Guangzhou Kaide Subscribes 174 Million Shares of the Company at RMB 6.76 per Share (https://finance.eastmoney.com/a/202601093614401524.html)

[2] StockStar - Tender Offer Report of Taisheng Wind Energy Group Co., Ltd. (https://stock.stockstar.com/notice/SN2026010900036596.shtml)

[0] Jinling AI Financial Database - Taisheng Wind Energy Market Data and Technical Analysis