Texas wind power industry leader's chief engineer resigns; "Post-90s" Shi Honglu takes over

Ask AI · What new breakthroughs could the handoff on Shihong Road bring to technological iteration at Shuangyi Technology?

On March 24, Shandong Shuangyi Technology Co., Ltd. (abbreviated as “Shuangyi Technology” 300690.SZ) released an announcement. Due to a work transfer, Mr. Cui Haijun is no longer the position of Chief Technology Officer, but he will still serve as a director and in related roles on special committees of the board of directors. The Chief Technology Officer position will be taken over by Shihong Road, a younger generation of technical talent.

According to available information, Cui Haijun was born on November 23, 1969, holds a bachelor’s degree; has the title of senior engineer. From 1993 to 1997, he worked at China Hydropower Tenth-Third Bureau; from 1997 to 2003, he served as a technician and later the technical director of Dezhou Glass Fiber Reinforced Plastics Products General Factory; since 2003, he has served as Chief Technology Officer of Shuangyi Technology. Currently, he directly holds 504.815 shares of the company, accounting for 0.3053% of the company’s total share capital.

According to the disclosure in the 2024 annual report, Cui Haijun’s originally scheduled termination date for his term in office was May 2027. His 2024 compensation was 593,500 yuan, ranking toward the top among directors and executives of Shuangyi Technology.

The successor, Shihong Road, was born in October 1990, graduated from Shandong Agricultural University, and holds a bachelor’s degree. From July 2012 to March 2016, he worked at China Water Resources and Hydropower Thirteenth Bureau Co., Ltd., serving as a contract manager. From March 2016 to May 2017, he worked at Shandong Hengyun Group, serving as a foreign trade business manager. He joined the company in May 2017 and held roles including technician, acting deputy head of the Technology Department, and head of Technology Unit I.

Shuangyi Technology is a global leader in wind power blade molds, with deep technical barriers and a broad customer base that covers multiple well-known global original equipment manufacturers (OEMs). The company was established in Dezhou in March 2000. Its registered capital is 165 million yuan, and it was listed on the Shenzhen Stock Exchange in August 2017.

From the perspective of equity relationships, all of the company’s major shareholders are natural persons. Among them, Wang Qinghua holds 36.67%, and serves as the company’s chairman, the controlling large shareholder, and the actual controller.

It is understood that since wind power blade molds belong to an industry with triple barriers—technology, capital, and certification—Shuangyi Technology’s subdivision track in the wind power industry chain requires relatively high levels of R&D capability and production processes. The company has also entered the supply chains for unmanned aerial vehicles and electric vertical takeoff and landing aircraft, and through carbon-fiber products it is actively expanding into the new energy vehicle sector. To a certain extent, one of the company’s core competitive advantages is its ability to iterate technologically.

In terms of performance, in the first three quarters of 2025, Shuangyi Technology’s net profit was 145 million yuan, a year-over-year increase of 125.25%. Its gross sales margin remained stable at around 27%, while its net sales profit margin was 19.78%, reaching the highest level in nearly two years. During the reporting period, inventory turnover days were 107 days, up from 100.87 days as of December 31, 2024. Accounts receivable turnover days were 160.1 days, up by 15 days from 145 days at the end of last year.

At present, Shuangyi Technology is advancing overseas asset acquisition matters. In May 2025, Shuangyi Technology plans to use newly established subsidiary Australia Shuangyi to acquire Marky Industries Pty Ltd, as well as the related land and factory buildings, by paying an equity-involved consideration adjusted to 18 million Australian dollars in self-raised funds.

Shuangyi Technology said that the acquisition aligns with the company’s internationalization development strategy, which will help improve the layout of its overseas production bases, broaden its overseas sales channels, and further enhance the company’s core competitiveness. In December last year, the company announced that it had already paid 1.800 million Australian dollars as the transaction price.

Source: Taishan Finance