The invention provides a winding machine. The winding machine comprises a speed reducer, a rotating joint and an encoder. A collapsible drum is arranged at one end of an output shaft of the speed reducer, and a collapsible oil cylinder for driving the collapsible drum is arranged at the other end of the output shaft of the speed reducer. An internal oil way of the rotating joint communicates with a piston cavity of the collapsible oil cylinder. A supporting frame is connected to a box body of the speed reducer. A drum swing arm is hinged to the supporting frame and provided with a supporting sleeve. The supporting sleeve is matched with the free end of the collapsible drum. A swing arm oil cylinder is arranged between the drum swing arm and the supporting frame. The encoder receives a composite plate head signal, a drum swing arm supporting mechanism is controlled to fall, the supporting sleeve supports the free end of the collapsible drum, and then winding is completed through the collapsible drum. During unwinding, the supporting sleeve can be automatically retracted to the standby state along with the drum swing arm, and the automation degree and the winding efficiency are high.