Niutech(SH:688309) Zhong Guo Zheng Quan Bao·2025-10-26 21:10Core Insights - The company, Hengyu Environmental Protection, has successfully expanded its overseas operations, signing a contract worth $14 million (approximately 99.7 million RMB, including tax) for an industrial continuous waste tire pyrolysis production line with a long-term European client [1] - This contract marks the second collaboration this year and the fourth overall with this client, adding to a previous order of $8.5 million (approximately 60.5 million RMB, including tax), bringing the total to over 160 million RMB [1] Overseas Expansion - Hengyu Environmental Protection's success in exporting its pyrolysis equipment is evident through multiple contracts, including a significant order worth 198 million RMB from a UK client and successful projects in countries like Germany, Brazil, and South Korea [2] - The company has established benchmark projects in various overseas markets, enhancing its brand recognition and demonstrating its technological capabilities [2] - A notable case includes a Danish waste plastic pyrolysis plant supported by Hengyu, which received investment from global chemical giant BASF, showcasing the company's technical strength [2] Technological Advantages - The continuous recognition and repeat orders from overseas clients stem from Hengyu's nearly 40 years of expertise in the pyrolysis field, along with its strong technical capabilities and comprehensive service advantages [3] - The company has developed proprietary "industrial continuous technology and complete equipment," which has won national science and technology advancement awards, addressing critical challenges in safety and long-term operational stability [3] - Hengyu's pyrolysis equipment offers multiple advantages, including strong material adaptability, low disposal costs, high resource recovery rates, and significant environmental benefits, establishing a solid technological barrier in various waste treatment sectors [3] Market Opportunities - The global push for carbon neutrality is driving a surge in demand for waste resource utilization, positioning pyrolysis technology as a key solution for waste tire and plastic treatment [4] - With ongoing technological innovation, extensive overseas project experience, and an established global customer base, Hengyu is well-positioned to capitalize on the growing demand for green low-carbon technology and equipment [4] - The company is expected to secure more high-quality orders, further enhancing its performance and demonstrating the effectiveness of its overseas expansion strategy [4]