Industry Overview - The global welding and cutting equipment market is dominated by manufacturers from developed countries, accounting for over 50% of the market share, with the largest three manufacturers being Lincoln, Miller, and ESAB [2][3] - The domestic welding industry has many players with low concentration, leading to increased competition and potential market consolidation as weaker companies are phased out [3] Company Positioning - The company has a strong competitive position in the domestic welding equipment industry, backed by significant technical expertise and industry experience [3] - The company aims to continuously develop new technologies and products with independent intellectual property rights to drive growth [3] Future Trends - The welding equipment industry is trending towards digital control, intelligent process control, network integration, and automation [4] Competitive Advantages - **Innovation Advantage**: The company has a strong track record of innovation, having developed the first domestic inverter welding machine and holding over 200 national patents [5][10] - **Brand and Channel Advantage**: The company has established a robust distribution network with nearly 400 primary dealers and over 2000 secondary dealers in China, and over 100 dealers in more than 60 countries globally [6][14] - **Quality and Cost-Effectiveness**: The company’s products are known for high reliability, low failure rates, and competitive pricing, providing a strong value proposition [6] Sales and Marketing Strategy - The company employs a dealer sales model, with a focus on digital marketing and online sales through platforms like Douyin and Kuaishou [7] - The company actively participates in industry exhibitions and holds dealer communication meetings to enhance market presence [7] Digital and Automation Development - The company has been developing digital welding machines for many years and has established a digital welding laboratory in collaboration with a national key laboratory [8] - The company offers a range of automated welding products, including welding robots and large-scale automated production lines [9] Product Applications - The company’s products are widely used in various industries, including new energy vehicles, marine engineering, military, aerospace, and construction [13] International Sales - Approximately one-third of the company’s inverter welding products are sold overseas, with significant markets in Southeast Asia, Australia, and the Middle East [14] Future Development Plans - The company is constructing an intelligent manufacturing industrial park to enhance production capabilities and competitiveness [15] - The company is exploring strategic partnerships and acquisition opportunities in related fields to expand its industry scale [17] Shareholder Returns - The company has a stable profit distribution policy and has outlined a shareholder return plan for 2024-2026 [18]