Group 1: Research Overview - The research object is Binglun Environment, belonging to the general equipment industry, and the reception time was on September 26, 2025. The listed company's reception staff was the board secretary, Sun Xiuxin [17] Group 2: Detailed Research Institutions - The institutions participating in the research include China Bank Fund (a fund management company with relevant personnel such as Li Jian, Huang Jun, Yan Anqi, Zhang Xinyi, Zhang Jingyan, and Hua Xuqiao) and Industrial Securities (a securities company with relevant personnel Guo Ya'nan) [18] Group 3: Company Business and Product Information - The company is committed to providing advanced system solutions and full - life - cycle services in the energy and power fields. Its main products are compressors and heat exchange devices, covering a temperature range from - 271°C to 200°C. Specific products include various types of compressors, industrial heat pumps, energy storage devices, etc. It has created a full - series magnetic levitation compressor product matrix with significant technical advantages and market performance [21] - The company's products are widely used in commercial refrigeration systems, industrial refrigeration systems, commercial comfort air - conditioning, industrial special air - conditioning, and other fields, as well as in energy utilization, casting, and intelligent control [22] - The company's subsidiary Dunham - Bush and Binglun Heat Exchange Technology Company provide cooling equipment such as primary cold source equipment and heat exchange devices for data centers and liquid - cooling systems. Dunham - Bush's two products are on the list of advanced and applicable technology products for national green data centers. The company has served many domestic and overseas data center projects [24] - In July 2024, the company launched upgraded IDC - specific ACM magnetic levitation and air - suspension series new products and IDC - specific FanWal wind walls, further enhancing its competitiveness. Binglun Heat Exchange Technology Company offers various heat exchange products, and some of its technologies and products have won national honors [25] - The company's overseas manufacturing bases are expanding production, and domestic manufacturing bases have started to support overseas markets [26] Group 4: Company's Nuclear Power Products - Recently, the construction of nuclear power plants in China has shown signs of accelerating. The company focuses on core scenarios such as nuclear island cooling and nuclear energy heating, and has developed a series of innovative technologies [27] - The company's subsidiary Heat Exchange Technology Company has developed a non - powered air cooler for the containment shielding cooling water system. Dunham - Bush is a global nuclear island chiller service provider with 20 years of nuclear power service experience and is the main drafter of relevant nuclear standards. Huayuan Taimeng Company has developed technologies such as co - production and co - delivery of water and heat, which have been applied in nuclear energy heating projects [28][29]

1. Report Industry - The report focuses on the general equipment industry [2] 2. Core Viewpoints - The report analyzes the business and product application scenarios of Binglun Environment, highlighting its technical strength and market performance in multiple fields [22][23][26] 3. Summary by Directory 3.1. Research Basic Situation - The research object is Binglun Environment, belonging to the general equipment industry, with a reception time of September 1, 2025, and the listed company's reception staff is the board secretary, Sun Xiuxin [17] 3.2. Detailed Research Institutions - The research institutions include Panjing Investment (represented by Chang Yile) and Huachuang Securities (represented by Ding Yi and Chen Hongyang) [18] 3.3. Main Content Data 3.3.1. Business and Industrial Sector - Binglun Environment provides advanced system solutions and full - life - cycle services in the energy and power fields, with main products such as compressors and heat exchange devices, covering a temperature range from - 271°C to 200°C. It has a full - series magnetic levitation compressor product matrix and participates in national standard drafting [22] - The company's products are widely used in various industries, including commercial refrigeration, industrial freezing, commercial air - conditioning, industrial special air - conditioning, energy utilization, casting, and intelligent control [23] 3.3.2. Product Application and Production Capacity in Data Centers - Dunham - Bush and Binglun Heat Exchange Technology provide cooling equipment for data centers and liquid - cooling systems. Two products of Dunham - Bush are on the national green data center list. The company has served many domestic and overseas data centers [23][24] - In 2024, new products were launched, and some technologies of Binglun Heat Exchange Technology were recognized. There are thresholds in the IDC cold - water unit market, and overseas manufacturing bases are expanding production [24][25] 3.3.3. Industrial Thermal Management Business - Guided by the national dual - carbon strategy, the company launched the "Industrial Full - domain Thermal Control Comprehensive Solution", which benefits from urban heat network transformation [26] 3.3.4. Products Applied in the Nuclear Power Industry - The company has developed a series of innovative technologies for nuclear power, serving many domestic nuclear power plants. Different subsidiaries have unique technologies and rich experience in the nuclear power field [26][27]