燃气轮机行业重点事件跟踪：杭汽轮自主燃机获取商业化合同，B转A加速推进

Investment Rating - The report assigns an "Overweight" rating for the industry, indicating a potential increase of over 15% relative to the CSI 300 index [9]. Core Insights - The report highlights that Hangzhou Steam Turbine's self-developed gas turbine has secured its first commercial contract, marking a significant step towards industrial application [2][4]. - The "B to A" transition process for Hangzhou Steam Turbine is accelerating, which is expected to expand its financing channels to support high-investment R&D projects like the self-developed gas turbine [2][4]. - The report emphasizes the opportunity for Chinese self-developed gas turbines to expand internationally, driven by global electricity shortages and the acceleration of domestic gas turbine localization [4]. Summary by Sections - Commercial Contract Achievement: Hangzhou Steam Turbine signed its first commercial contract for the 50MW HGT51F heavy-duty gas turbine on January 16, 2026, marking a successful transition from development to market application [4]. - B to A Transition: On February 2, 2026, Hangzhou Steam Turbine announced the submission of an application for additional A-share stock, which is expected to broaden financing avenues, particularly for high-investment R&D projects [4]. - International Expansion Potential: The report cites the example of Dongfang Electric, which is providing self-developed 50MW heavy-duty gas turbines for a project in Kazakhstan, illustrating the potential for Chinese gas turbines to enter international markets [4].