Xin Lang Cai Jing·2025-12-19 09:15Core Viewpoint - Dongfang Electric's performance continues to improve, supported by a robust order backlog that underpins future growth [1] Financial Performance - In the first three quarters, the company achieved a net profit attributable to shareholders of 2.966 billion yuan, representing a year-on-year increase of 13.02% [1] - New effective orders amounted to 88.583 billion yuan, reflecting a year-on-year growth of 9.0% [1] Market Opportunities - The demand for gas turbines is surging, presenting overseas opportunities for the company [1] - Chinese gas turbine manufacturers are expected to benefit from technological accumulation, cost advantages, and industrial chain synergy, potentially entering a strategic window in overseas markets [1] Product Development - The company successfully achieved an overseas breakthrough with its self-developed F-class heavy gas turbine G50, securing a core equipment order for a 50 MW combined cycle power project in Kazakhstan [1] - This marks the first time that domestically produced heavy gas turbines have achieved complete machine exports [1] Future Outlook - The company has a sufficient order backlog and is expected to experience a peak in deliveries in the coal power and nuclear power sectors [1] - The overseas expansion of gas turbines is a key area to watch, with a "buy" investment rating recommended [1]