- The report constructs an equal-weighted index based on the stocks investigated by fund managers over the past six months, with the "Research Stock-All Sample Index" achieving a cumulative return of 21.0%, outperforming the Shanghai Composite Index's 15.2% during the same period[5][13][14] - The "Research Stock-Growth Index" achieved a cumulative return of 20.5% over the past six months, surpassing the Shanghai Composite Index's 15.2% during the same period. Additionally, the representative fund's equal-weighted net value growth rate reached 29.2%, outperforming both the Growth Index and the Shanghai Composite Index[25][26][27] - The "Research Stock-Balanced Index" recorded a cumulative return of 25.7% over the past six months, exceeding the Shanghai Composite Index's 15.2%. The representative fund's equal-weighted net value growth rate was 19.8%, which is lower than the Balanced Index but higher than the Shanghai Composite Index[32][33][34] - The "Research Stock-Value Index" achieved a cumulative return of 18.3% over the past six months, outperforming the Shanghai Composite Index's 15.2%. The representative fund's equal-weighted net value growth rate was 8.8%, which is lower than both the Value Index and the Shanghai Composite Index[39][40][42] - The "Research Stock-Large Cap Index" achieved a cumulative return of 23.8% over the past six months, surpassing the Shanghai Composite Index's 15.2%. The representative fund's equal-weighted net value growth rate reached 28.4%, outperforming both the Large Cap Index and the Shanghai Composite Index[51][52][54] - The "Research Stock-Mid Cap Index" recorded a cumulative return of 23.9% over the past six months, exceeding the Shanghai Composite Index's 15.2%. The representative fund's equal-weighted net value growth rate was 23.0%, which is close to the Mid Cap Index and higher than the Shanghai Composite Index[61][62][61] - The "Research Stock-Small Cap Index" achieved a cumulative return of 19.2% over the past six months, outperforming the Shanghai Composite Index's 15.2%. The representative fund's equal-weighted net value growth rate was 17.5%, which is lower than the Small Cap Index but higher than the Shanghai Composite Index[68][69][71] - The "Research Stock-TMT Index" achieved a cumulative return of 23.9% over the past six months, surpassing the Shanghai Composite Index's 15.2%. The representative fund's equal-weighted net value growth rate reached 38.8%, outperforming both the TMT Index and the Shanghai Composite Index[79][80][79] - The "Research Stock-Manufacturing Index" recorded a cumulative return of 23.4% over the past six months, exceeding the Shanghai Composite Index's 15.2%. The representative fund's equal-weighted net value growth rate was 29.4%, outperforming both the Manufacturing Index and the Shanghai Composite Index[87][88][87] - The "Research Stock-Consumer Index" achieved a cumulative return of 7.5% over the past six months, slightly outperforming the Shanghai Composite Index's 15.2%. The representative fund's equal-weighted net value growth rate was 1.9%, which is lower than both the Consumer Index and the Shanghai Composite Index[94][95][94] - The "Research Stock-Cycle Index" recorded a cumulative return of 21.3% over the past six months, exceeding the Shanghai Composite Index's 15.2%. The representative fund's equal-weighted net value growth rate was 29.2%, outperforming both the Cycle Index and the Shanghai Composite Index[100][101][100] - The "Research Stock-Financial Real Estate Index" achieved a cumulative return of 33.2% over the past six months, significantly outperforming the Shanghai Composite Index's 15.2%. The representative fund's equal-weighted net value growth rate was 7.7%, which is lower than both the Financial Real Estate Index and the Shanghai Composite Index[107][108][107]

Core Viewpoint - The structural growth in electricity demand in the U.S. is driving the market fundamentals for Heat Recovery Steam Generators (HRSG) [1] Group 1: Market Demand - The expansion of data center clusters and the return of manufacturing to the U.S. are increasing industrial electricity loads, leading to a new high in U.S. grid load [1] - There is a significant increase in the demand for gas turbines in the U.S. market, which is positively impacting the demand for HRSG as a core heat exchange device [1] Group 2: Pricing Strategy - The company adopts a "sales-driven production" approach, where product pricing is determined by material costs, labor costs, other expenses, and a set net profit margin [1] - HRSG prices will be adjusted in a timely manner based on market supply and demand conditions [1]

Group 1: Company Overview and Business Growth - The company maintains steady growth, with significant achievements in traditional business overseas expansion, rapid growth in HRSG business, and the oil and gas composite pipe business poised for development [1] - The company has established a production capacity of 12 HRSG production lines in Vietnam, with 4 lines already at full capacity and 8 lines under construction, expected to be operational in 2026 [3] - The new production base in Vietnam has begun to take shape, with plans for the Daou production base to commence operations this year [1][2] Group 2: Market Demand and Pricing Strategy - The demand for HRSG is increasing due to structural growth in U.S. electricity demand, driven by the expansion of AI data centers and the return of manufacturing [3] - The pricing of HRSG products will be adjusted based on market supply and demand, with recent orders reflecting price increases compared to earlier contracts [4] Group 3: North American Market Entry - To enter the North American HRSG market, the company must obtain certifications from the American Society of Mechanical Engineers and pass the production system certifications of major manufacturers [6] - The company has already secured ASME certification and is in the process of obtaining additional certifications from potential clients [6] Group 4: Project Management and Coordination - The company employs a project manager responsible system to oversee project execution, ensuring coordination among various departments to meet client requirements [6] - The management team has extensive industry experience, enabling the company to handle large-scale projects effectively [6] Group 5: Production Coordination and Quality Control - Resource allocation for orders is managed centrally by the headquarters, which coordinates production across different bases to optimize costs and meet client demands [7] - The company implements standardized time management and process-oriented manufacturing to ensure product quality and timely delivery [7]

证券日报网讯 1月15日，博盈特焊在互动平台回答投资者提问时表示，截至目前，公司尚未收到股东的 减持完成告知函。公司高度重视合规经营和信息披露工作，持续关注股东减持计划实施进展，督促股东 依法履行信息披露义务，确保其行为的合规性。公司严格按照监管要求履行信息披露义务，股东减持的 相关信息以公司在巨潮资讯网发布的公告为准。 （文章来源：证券日报） ...

Core Viewpoint - The company, Boying Special Welding, focuses on products and technologies applicable in energy-saving and environmental protection, power, energy, chemical, metallurgy, and paper industries, particularly in anti-corrosion and anti-wear fields [2] Group 1: Company Applications - The company's products are utilized in various industrial sectors, including energy-saving and environmental protection, power, energy, chemical, metallurgy, and paper [2] - The technology involves special alloys and high-temperature alloys used in controlled nuclear fusion equipment, which are essential for temperature control and cooling heat exchange devices [2] Group 2: Manufacturing Techniques - The company employs welding or additive manufacturing as key processes in metal composite processing, which are crucial for its anti-corrosion and anti-wear welding technology [2] - This welding technology can be applied to special welding equipment or components in the nuclear power and nuclear energy sectors [2]

每经头条（nbdtoutiao）——不到20万元，就能买特斯拉了？"廉价版"Model 3或进入中国市场，续航里 程480公里！关于自动驾驶，美国市场也有大调整 每经AI快讯，博盈特焊发布公告称，2026年1月15日，博盈特焊接受广州市慧创蚨祥私募基金管理有限 公司等投资者调研，公司董事、副总经理、董事会秘书刘一宁，投资者关系管理专员谭静怡参与接待， 并回答了投资者提出的问题。 （记者 曾健辉） ...

Group 1: Company Overview and Growth - The company maintains steady growth, with significant achievements in overseas expansion, rapid business growth in HRSG, and the oil and gas composite pipe business poised for development [1] - The traditional waste incineration sector shows strong overseas market demand, driven by policy support in developing countries and the need for energy transition [1] - The company has established a production capacity for HRSG and is in the process of connecting with leading international clients [1] Group 2: Production Capacity and Facilities - The new production base in Vietnam has begun to ramp up production, with the first phase of HRSG production lines already operational [2] - Each HRSG production line in Vietnam can produce approximately 2 units per year, depending on production scheduling and resource availability [4] - The construction of the new production base in Daqiao is progressing as planned, with production expected to commence this year [1] Group 3: Market Potential and Demand - The overseas market for waste incineration boilers is expanding, particularly in Southeast Asia, Central Asia, and Latin America, where urbanization is increasing waste generation [5] - Countries like Vietnam, Thailand, and Indonesia are prioritizing waste incineration as a national strategy, supported by government policies [5] - In developed regions like Europe and North America, there is a growing demand for upgrading existing waste incineration facilities [5] Group 4: HRSG Business and Market Entry - The HRSG business is positioned as a reliable technology choice for meeting electricity demands in the U.S., with ongoing production and certification processes [3] - The company has obtained ASME certification and is progressing through customer production system certifications, with orders entering the production phase [7] - The verification process for entering the North American HRSG market involves stringent international certifications and customer approvals [7]

Core Viewpoint - The company is strategically investing in Vietnam to capture market opportunities in gas turbines by establishing a production base for HRSG devices, enhancing its competitiveness and profitability [2] Group 1: Investment and Expansion - The company has invested in a production base in Vietnam to produce HRSG devices that complement heavy gas turbines [2] - The first phase of the Vietnam production base has commenced operations, while the second phase is under construction and expected to start production in the second quarter of this year [2] - Recent investments have been made to acquire land and construct a third-phase factory at the Vietnam site [2] Group 2: Market Demand and Growth - The company aims to accelerate the construction of new production lines to meet increasing customer demand [2] - The expansion into overseas markets is intended to further develop the company's international business [2] - The overall goal is to enhance the company's competitiveness and profitability through these strategic investments [2]

Core Viewpoint - The company has successfully launched its first phase of production at its Vietnam base, with four HRSG units now operating at full capacity [2] Group 1: Production and Operations - The company’s Vietnam production base has commenced operations with four HRSG units fully operational [2] - The company has received production system certifications from some clients and secured corresponding orders from the United States [2] - The company is in the process of completing factory audits for potential clients, leading to upcoming order negotiations [2]

Company News - WuXi AppTec launched a voluntary conditional cash offer for Dongyao Pharmaceutical at HKD 4 per share, representing a premium of approximately 99% over the unaffected closing price, with a maximum consideration of about HKD 2.79 billion, and expects revenue, gross profit, and adjusted net profit for FY2025 to grow by over 45%, 70%, and 45% year-on-year, respectively, with currency impact excluded showing over 65% growth [1] - Alibaba's Qianwen App has fully integrated with Taobao Flash Purchase and Alipay AI Payment, allowing users to complete ordering and payment within the app's chat interface, and launched "Qianwen Classroom" to support instant grading, error analysis, and free video lessons from real teachers [1] - Zhongtai Automobile elected Han Biwen as the chairman of the ninth board of directors and he will continue to serve as the president [1] - Dinglong Co., Ltd. plans to issue H-shares for listing in Hong Kong to accelerate the expansion of its innovative materials business in overseas markets [1] - Henghui Security's robotic flexible joint protective components and other protective products have completed commercialization and achieved small batch deliveries [1] - Fenglong Co., Ltd. intends to permanently supplement working capital with approximately CNY 138 million of surplus raised funds [1] - Boying Special Welding's Vietnam production base has put into operation four HRSGs in the first phase, currently operating at full capacity [1] Industry News - The Ministry of Finance revised the "Key Ecological Protection and Restoration Fund Management Measures," increasing support for integrated protection and restoration projects for mountains, rivers, forests, fields, lakes, grass, and sand, with the maximum central financial subsidy ratio set at 75% for intra-provincial projects (up to CNY 2 billion) and 80% for inter-provincial projects (up to CNY 2.5 billion), and for the first time clarifying support for cross-provincial joint application projects [1] - The Ministry of Transport and the Ministry of Emergency Management jointly issued regulations to provide free passage for vehicles executing emergency rescue tasks, ensuring full coverage of such vehicles, and allowing for "pay first, refund later" for vehicles that fail to report in time [1] - The Ministry of Human Resources and Social Security, the Central Cyberspace Administration, the Ministry of Industry and Information Technology, the Ministry of Public Security, and the Financial Regulatory Bureau jointly issued a notice to standardize the release of recruitment information on online platforms, emphasizing the responsibility of platforms to protect job seekers' legal rights [1] - The market supervision departments of Jiangsu, Zhejiang, Anhui, and Shanghai released the 2.0 version of the "Regulations on Not Punishing and Mitigating Penalties for Minor Violations in the Yangtze River Delta Market Supervision Field," which will take effect on February 1 [1] - The Ministry of Agriculture and Rural Affairs approved the establishment of a key laboratory for intelligent harvesting robots in Nanjing, led by Jiangsu Jicui Intelligent Manufacturing Technology Research Institute, with participation from Jiangsu Academy of Agricultural Sciences and Nanjing Agricultural Mechanization Research Institute [1]