A research report from SinoLink Securities reveals that by 2025, economies of scale are anticipated to drive down costs, setting the stage for substantial growth in the gross profit margin elasticity of wind turbine manufacturing in 2026. Although the overall average price of wind turbines experienced a modest rebound in 2024, leading to a relatively minor increase in gross profit margin elasticity for manufacturers in 2025, the industry installation rate is projected to surge by 30%. Against this backdrop, SinoLink Securities expects the sales and management expense ratios of leading wind turbine manufacturers to decline by 1-2 percentage points. With the gradual fulfillment and confirmation of price-increased orders in the fourth quarter of 2024 and throughout the fiscal year of 2025, SinoLink Securities holds a firm belief in a notable enhancement of the gross profit margin for wind turbine manufacturers in 2026.