DORIGHT(SZ:300950) Xin Lang Cai Jing·2025-09-24 09:04Core Viewpoint - The company, 德固特, is experiencing a slight increase in stock price and has a market capitalization of 4.728 billion yuan, with a focus on energy-saving and environmental protection equipment [1]. Group 1: Company Overview - 德固特 is located in Qingdao, Shandong Province, and was established on April 5, 2004, with its stock listed on March 3, 2021 [9]. - The company's main business involves the design, manufacturing, and sales of energy-saving and environmental protection equipment, with revenue composition as follows: 76.84% from energy-saving heat exchange equipment, 8.40% from equipment maintenance and modification, 5.27% from powder and other environmental protection equipment, 4.44% from equipment parts, 4.27% from specialized custom equipment, and 0.78% from other sources [10]. Group 2: Financial Performance - For the first half of 2025, 德固特 reported revenue of 250 million yuan, a year-on-year decrease of 8.66%, and a net profit attributable to shareholders of 49.03 million yuan, down 28.23% year-on-year [10]. - The company has distributed a total of 87.668 million yuan in dividends since its A-share listing, with 67.668 million yuan distributed over the past three years [11]. Group 3: Market Position and Recognition - 德固特 has been recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise, which is a prestigious title for small and medium-sized enterprises in China, indicating its strong market position and innovation capabilities [2]. - The company benefits from the depreciation of the RMB, with overseas revenue accounting for 59.28% of total revenue [4]. Group 4: Technological Innovations - The company has developed a high-temperature air preheater for gasification, which utilizes heat energy released during the cooling of high-temperature gas to significantly increase production and reduce fuel consumption, achieving a 30% increase in raw material input and a 9.3%-13.2% reduction in fuel usage [4]. - 德固特 has previously produced containers for storing spent fuel rods from the Fukushima nuclear power plant, showcasing its capabilities in the nuclear energy sector [5].