> 数据图表如何解释塔筒： 25Q2出货景气度提升，盈利能力进入拐点2025-9-3塔筒： 25Q2出货景气度提升，盈利能力进入拐点3塔筒板块龙头主营业务盈利对比公司项目23Q123Q223Q323Q424Q124Q224Q324Q425Q125Q2泰胜风能天顺风能大金重工营业收入（亿元）出货量（万吨）其中：出口陆风7.79.34.58.412.816.96.310.617.132024.612.89849.9812.7612.915.2518.920.55.37.99.44.515--毛利率（%）22.13% 16.07% 20.18% 15.77% 20.12% 19.87% 12.17% 9.59% 13.94% 12.32%营业收入（亿元）出货量（万吨）其中：海风5.99.5017.118.5813.914.73.710.314.50.53.14.50125.40.9131310.533.732.39.36.2-12.6152.5毛利率（%）26.23% 21.39% 20.27% 26.49% 30.39% 23.54% 22.77% 3.76% 23.48% 18.95%营业收入（亿元）出货量（万吨）其中：出口海风8.410111.613.83.4121439.5122.5451.28.21039.512.31.814.714.13.211.4178.93.911.44.2毛利率（%）19.00% 27.47% 24.58% 20.88% 31.60% 27.00% 25.22% 33.96% 30.95% 26.30%营业收入（亿元）海力风电出货量（万吨）5.46.36.46.96.36.411.411.392.13.179.52.93.014.44.715.916.8毛利率（%）15.48% 15.20% 6.57% -21.80% 5.05%0.22%8.15% 13.64% 15.05% 17.59%66数据来源：Wind、东吴证券研究所东吴证券能源矿产
