Group 1: Company Overview and Business Growth - The company maintains steady growth, with significant achievements in traditional business overseas expansion, rapid growth in HRSG business, and the oil and gas composite pipe business poised for development [1] - The company has established a production capacity of 12 HRSG production lines in Vietnam, with 4 lines already at full capacity and 8 lines under construction, expected to be operational in 2026 [3] - The new production base in Vietnam has begun to take shape, with plans for the Daou production base to commence operations this year [1][2] Group 2: Market Demand and Pricing Strategy - The demand for HRSG is increasing due to structural growth in U.S. electricity demand, driven by the expansion of AI data centers and the return of manufacturing [3] - The pricing of HRSG products will be adjusted based on market supply and demand, with recent orders reflecting price increases compared to earlier contracts [4] Group 3: North American Market Entry - To enter the North American HRSG market, the company must obtain certifications from the American Society of Mechanical Engineers and pass the production system certifications of major manufacturers [6] - The company has already secured ASME certification and is in the process of obtaining additional certifications from potential clients [6] Group 4: Project Management and Coordination - The company employs a project manager responsible system to oversee project execution, ensuring coordination among various departments to meet client requirements [6] - The management team has extensive industry experience, enabling the company to handle large-scale projects effectively [6] Group 5: Production Coordination and Quality Control - Resource allocation for orders is managed centrally by the headquarters, which coordinates production across different bases to optimize costs and meet client demands [7] - The company implements standardized time management and process-oriented manufacturing to ensure product quality and timely delivery [7]

Group 1: Company Overview and Core Competencies - The company focuses on anti-corrosion and wear-resistant welding equipment, specializing in the manufacturing of special equipment for various industrial sectors, including energy, chemical, metallurgy, and papermaking [1] - Key competitive advantages include mastery of critical technologies across materials, processes, and equipment, as well as comprehensive production qualifications such as national special equipment production licenses and international certifications [1] - The management team has extensive industry experience and stability, contributing to strong R&D capabilities and practical experience [1] Group 2: Market Opportunities and Strategic Expansion - The company is actively expanding into international markets while maintaining its leading position in the domestic market, with a focus on global strategic layout [2] - The garbage incineration market shows significant demand, with a projected increase in penetration rates due to downstream industry upgrades [2] - The company has strategically positioned itself in the HRSG and composite pipe businesses, with HRSG already achieving a certain scale of production [2] Group 3: Revenue Breakdown and Industry Applications - As of September 30, 2025, 58.99% of the company's revenue comes from the waste incineration power generation sector, with significant contributions also from the chemical, papermaking, and coal-fired power sectors [3] - The domestic coal-fired boiler market remains crucial, driven by increasing electricity demand and the need for upgrades in response to environmental policies [6] Group 4: International Market Dynamics - The domestic market for garbage incineration has slowed, but overseas markets, particularly in Southeast Asia and Latin America, present substantial growth opportunities due to rapid urbanization and increasing waste management pressures [5] - Developed regions like Europe and North America have mature waste incineration industries, creating demand for upgrades and renovations of existing facilities [5] Group 5: Future Production and Strategic Initiatives - The company has laid out plans for two HRSG production lines in the Dayaow base, expected to be operational by 2026, primarily serving non-North American markets [7] - The company is expanding its overseas presence with a production base in Vietnam, which has already commenced operations, and plans for further development to capture North American market opportunities [8]

Group 1: Company Overview - The company focuses on anti-corrosion and wear-resistant welding equipment, continuously expanding into industrial equipment manufacturing and high-end structural components [1] - Key technologies include material, process, and equipment, with certifications such as the National Special Equipment Production License and ASME certification [1] - The management team has extensive industry experience and a stable core technical staff, enhancing the company's competitive edge [1] Group 2: Market Opportunities - The waste incineration market is expanding, driven by urbanization in developing countries, with countries like Vietnam and Thailand prioritizing waste-to-energy solutions [3][4] - The coal-fired power generation sector shows significant growth potential, with increasing demand for upgrades in developed regions [2] - The company has strategically positioned itself in HRSG and composite pipe businesses, with HRSG already achieving substantial production capacity [2] Group 3: International Expansion - As of September 30, 2025, overseas revenue reached approximately 200 million, accounting for about 54.28% of total revenue, with exports primarily to Asia, the US, South America, and Europe [5] - The company has established a factory in Vietnam, which has commenced operations, and is expanding into the Middle East oil and gas pipeline market [2] Group 4: Competitive Landscape - In the Vietnamese market, competitors include manufacturers from South Korea, Thailand, and Vietnam, but the company holds advantages in production costs and established customer relationships [6][8] - The company plans to expand its HRSG production lines in Vietnam from 4 to a total of 12, depending on market demand [8] Group 5: Pricing and Future Outlook - HRSG pricing is determined by material and labor costs, with adjustments based on market demand and production capacity [9] - The global oil and gas pipeline market is expected to grow due to increasing natural gas demand and the need for infrastructure upgrades, with the company adapting its production strategy to align with market needs [9]

Group 1: Company Overview and Core Competencies - The company focuses on anti-corrosion and wear-resistant welding equipment, specializing in the manufacturing of special equipment and expanding into industrial equipment and high-end structural components [1] - Key competitive advantages include mastery of critical core technologies, comprehensive special equipment production qualifications, and a stable management team with extensive industry experience [1] - The company has established a strong market position with a scalable production capacity and efficient management, supported by a rich portfolio of well-known domestic and international clients [1] Group 2: Market Opportunities and Global Strategy - The company is committed to both domestic and international markets, maintaining a leading position in China while actively exploring overseas opportunities [2] - Significant market demand exists in the waste incineration sector, with potential growth in the coal-fired power generation industry and other applications in chemicals, metallurgy, and papermaking [2] - The company has strategically positioned itself in HRSG and composite pipe businesses, with HRSG already achieving a certain scale of production [2] Group 3: Product Development and Innovation - The company continuously innovates in welding technologies, including digital pulse MIG and laser welding, to enhance efficiency and stability in complex environments [4] - The application range of the company's welding technologies spans various industries, including energy, chemicals, and environmental protection [4] Group 4: Order Status and Production Cycle - The company currently has a sufficient order backlog, with a production cycle of approximately 3 months for custom large equipment [5] - For products requiring installation, the sales cycle can extend to 9-12 months, while non-installation sales typically take about 4 months [5] Group 5: Market Trends and Future Expansion - The domestic waste incineration market is driven by national strategies for ecological civilization and waste reduction, creating a demand for upgrading existing facilities [6] - The company has four HRSG production lines in Vietnam, with plans to expand to a total of 12 lines based on market demand [7] - The company is actively pursuing customer certifications and has entered production processes for existing orders, with potential clients undergoing preliminary audits [8]