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Ming Yang Smart Energy (601615.SS) is a Shanghai-listed Chinese wind-turbine OEM.
FY2025 annual report (cninfo, filed 2026-04-29, p.90-91 and p.241) names Ming Yang New Energy Investment Holding Group Co., Ltd. (能投集团, Zhongshan) as the sole controlling shareholder (唯一控股股东), with 8.81% of shares held directly (p.90 states 8.85%) and 25.56% of voting rights via voting-delegation agreements from related shareholders (Wiser Tyson, First Base, Keycorp, Hainan Boyun, Zhongshan Ruixin, Beihai Ruiyue); ultimate controllers are Zhang Chuanwei, Wu Ling and Zhang Rui. This CORRECTS the earlier note that no controlling shareholder exists and that Zhang Chuanwei personally holds about 14.9%: the filing shows Zhang directly holding only 1,909,600 shares, and the top-ten table lists Wiser Tyson 6.95%, First Base 5.28%, Ming Yang New Energy Investment 5.02% direct plus 2.24% and 1.58% in exchangeable-bond pledge accounts. No parent dossier exists in this corpus for the holding company, so parent_slug is not set. GLEIF LEI 300300W76R6UJHEZL847 reports no parent.
Named counterparties identified by open-source research and written only where a primary source states the relationship — never inferred from sector or co-mention. 25 suppliers, 25 customer-side. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
Gearboxes, yaw drives. Appears in every disclosed period FY2015-H1-2018 — Ming Yang's largest single supplier throughout.
Epoxy resin for turbine blades.
Generators.
Generators.
Fiberglass for blades.
Gearboxes, yaw drives.
Generators.
Busbar, power cable.
Epoxy resin for turbine blades.
Generators.
Gearboxes, yaw drives.
Generators.
Epoxy resin for turbine blades.
Offshore jacket foundations.
Fiberglass for blades.
Gearboxes, yaw drives.
Generators.
Epoxy resin for turbine blades.
Main shaft bearings — a German supplier named in a Chinese OEM's own IPO prospectus, one of the rare places a Western industrial vendor's role in this supply chain gets a filed, quantified figure.
Busbar, power cable.
Filing (FY2024 annual report, p.21-22) anonymizes by rank only — 单位一, no entity identifier — so a slot cannot be assumed to hold the same counterparty in any other year; FY2025 discloses no per-entity rows at all, so this is a point observation, not a joinable series. Listed under the filing's 'new entrants or heavy dependence' box, which the filing ticked 适用 without stating which of its conditions applied; no single customer exceeds 50%.
Rank-anonymized label; see the rank-1 customer row's note on cross-year identity.
Rank-anonymized label; see the rank-1 customer row's note on cross-year identity.
Rank-anonymized label; see the rank-1 customer row's note on cross-year identity.
Rank-anonymized label; see the rank-1 customer row's note on cross-year identity.
Filing (FY2024 annual report, p.21-22) anonymizes by rank only — 单位一, no entity identifier — so a slot cannot be assumed to hold the same counterparty in any other year; FY2025 discloses no per-entity rows at all, so this is a point observation, not a joinable series. Listed under the filing's 'new entrants or heavy dependence' box, which the filing ticked 适用 without stating which of its conditions applied; no single supplier exceeds 50%.
Rank-anonymized label; see the rank-1 supplier row's note on cross-year identity.
Rank-anonymized label; see the rank-1 supplier row's note on cross-year identity.
Rank-anonymized label; see the rank-1 supplier row's note on cross-year identity.
Rank-anonymized label; see the rank-1 supplier row's note on cross-year identity.
Scope. Absence of a counterparty here is not evidence that none exists — most commercial sourcing is confidential and never becomes public. Rows without a share figure mean no share was disclosed, not that the relationship is small.
Every exposure is read as a buyer dependency; the top 3 are its binding chokepoints.
Dossier discloses a dysprosium, terbium or samarium material exposure directly — A61 §1(2) names Dy/Tb-containing NdFeB and SmCo magnets by element.
A61's suspension (Announcement 70) lapses 10 Nov 2026 — on the plain text, controls revive automatically. The US DoD CN/RU/IR/KP sourcing bar follows 1 Jan 2027. See the underlying extraterritorial export-control action. We supply the provenance file; we never compute your ratio for you.
As a buyer, policy pressure across its consumed materials is rising.
Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.
No actions in the register have named or swept this company in the last 24 months.