Chinese thermosetting resin and wind turbine blade materials manufacturer Daosheng Tianhe Materials Technology (Shanghai) (Shanghai Stock Exchange: 601026) confirmed the ongoing foundation construction of its $30 million Moroccan production facility in August 2026. The strategic North African hub is designed to accelerate supply chains and capture high-margin orders across European and American markets.
The Bottom Line
- Capital Expenditure: The Moroccan base represents a $30 million investment, with current construction focused on warehouse and administrative foundations.
- Volume Expansion: International sales of wind blade materials climbed 54.7% year-over-year to 22,088.6 tonnes during the first half of 2026.
- Financial Performance: Total H1 revenue reached 1.8 billion yuan, with net income attributable to shareholders rising 3.6% to 89.4 million yuan.
Building Out North African Manufacturing Infrastructure
Following the acquisition of essential Chinese outbound direct investment certificates in late 2025, the company advanced foundation work on its Moroccan warehouse and administrative spaces in August 2026. This $30 million project forms the bedrock of the firm’s broader international strategy.
Here is the math. During the first six months of 2026, Daosheng Tianhe posted total revenues of 1.8 billion yuan, representing a modest 0.8% increase year-over-year. However, profitability metrics exhibited stronger expansion. Net income attributable to shareholders rose 3.6% to 89.4 million yuan, while normalized net profit—excluding exceptional items—grew 14% to 85.3 million yuan.
H1 2026 Financial and Operational Metrics
| Metric | H1 2026 Figure | YoY Change |
|---|---|---|
| Operating Revenue | 1.8 billion yuan | +0.8% |
| Net Income (Shareholders) | 89.4 million yuan | +3.6% |
| Normalized Net Profit | 85.3 million yuan | +14% |
| International Blade Material Sales | 22,088.6 tonnes | +54.7% |
| R&D Expenditure | 46 million yuan | +4.5% |
Capturing Western Renewable Energy Supply Chains
But the balance sheet tells a clearer story when looking at export volumes. Foreign sales of wind turbine blade materials surged 54.7% on an annual basis, reaching 22,088.6 tonnes in H1 2026. Management attributes this acceleration to established delivery channels that will soon be augmented by the Moroccan operational base.
By establishing manufacturing capacity outside mainland China, Daosheng Tianhe aims to insulate its margins from localized pricing wars while meeting the stringent supply chain requirements of Western original equipment manufacturers. The company’s historic growth trajectory underlines this ambition; between 2022 and 2025, attributable net profit expanded from 110 million yuan to 203 million yuan, reflecting a compound annual growth rate of 22.4%.
Diversification Beyond Wind Power
Beyond traditional wind energy components, the firm maintains heavy capital commitments to advanced material sciences. R&D expenditures reached 46 million yuan in the first half of the year, marking a 4.5% increase from the prior-year period. By June 30, the enterprise held 72 registered patents—including 45 invention patents—securing proprietary positions in high-tenacity resins for electric vertical takeoff and landing (eVTOL) aircraft, high-frequency solid-state transformers, and ultra-high-voltage grid insulation materials.
Execution risks remain visible. The company’s semiannual filing highlights potential headwinds, including regulatory shifts, geopolitical friction, and construction timelines that could impact the scheduled activation of the Moroccan facility. Yet, with its Shanghai listing secured in October 2025, Daosheng Tianhe has positioned itself with public equity backing to complete its cross-border infrastructure buildout.
