证券代码：301468 证券简称：博盈特焊 编号：2025-027 广东博盈特焊技术股份有限公司投资者关系活动记录表 | ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | ☑ | 线上调研 | | 参与单位名称及 | 华安基金：花超 周丹 蒋璆 | | 人员姓名 | 万家基金：张希晨 刘洋 李杨 况晓 刘宏达 王霄音 崔逸凡、冯 | | 哲 | | | 时间 2025 | 年 11 月 25 日 | | 地点 | 腾讯会议：882-166-774 | | | 腾讯会议：299-851-087 | | 上市公司接待人 | 刘一宁 1、董事、副总经理、董事会秘书 | | 员姓名 | 2、投资者关系管理专员 谭静怡 一、董事会秘书刘一宁先生简单介绍公司情况 | | | 公司以防腐防磨堆焊装备为核心，长期专注于特种装备制 造，不断向工业设备整体制造、高端结构件制造及其他大型装备 制造等方向延伸与拓展。公司的产品和技术主要应用于节能环 | | | 保、电力、能源、化工、 ...

证券日报网讯博盈特焊（301468）11月24日发布公告，在公司回答调研者提问时表示，越南基地主要针 对的是北美市场，竞争对手主要是韩国、泰国、越南的几家HRSG制造企业。公司已在能源等特种装备 领域深耕多年，客户群体涵盖北美市场燃气轮机主要供应商，同时公司具备齐全的特种设备生产资质， 拥有丰富的海外客户对接经验，并且在越南已形成生产线，满足客户对供应商的选择要求，公司生产的 HRSG产品相较于海外竞争对手，在生产成本上具有优势。 ...

Market Overview - The A-share market experienced a slight pullback during the week of November 10-14, with the Shanghai Composite Index down 0.18% to 3990.49 points, the Shenzhen Component Index down 1.4%, and the ChiNext Index down 3.01% [1] - Institutional research enthusiasm remained high, with 344 listed companies disclosing institutional investor research summaries during the week, and approximately 50% of the researched stocks achieved positive returns [1] Company Highlights Huasheng Lithium Battery - Huasheng Lithium Battery led the gains with a 79.6% increase, marking a cumulative deviation of 200% over 30 consecutive trading days [1] Boying Special Welding - Boying Special Welding (301468) was one of the most researched companies, receiving 4 institutional visits with 79 participating investors, focusing on its capacity expansion for HRSG (Heat Recovery Steam Generator) and progress on its Vietnam production base [2][3] - The company has officially launched the first phase of its Vietnam base with 4 HRSG production lines and plans to build a total of 12 lines by 2026 to enhance overseas supply capabilities [2] Anbotong - Anbotong received the highest number of institutional visits, with 95 participating investors, focusing on its AI + intelligent computing business, which is a core future direction for the company [4] - The company is actively seeking common scenarios with strong demand in sectors like water conservancy and real estate leasing, and has established subsidiaries in Shanghai and Nanjing for GPU resource management [4][5] Opto - Opto hosted 75 institutional visits, discussing machine vision technology applications and industry opportunities, emphasizing its collaboration with Yujiang Technology to enhance logistics automation solutions [6][7] - The collaboration achieved a sorting capacity of over 1500 items per hour with an accuracy rate exceeding 99% [7] Obi Zhongguang - Obi Zhongguang received 64 institutional visits, focusing on its self-developed chips and 3D vision sensor technology for robotics and AI applications, having completed over 10 chip tape-outs [8] - The company aims to integrate more visual ecological products into NVIDIA's platform as a partner in its global digital ecosystem [8]

Market Overview - The A-share market experienced a slight pullback during the week of November 10-14, with the Shanghai Composite Index falling by 0.18% to close at 3990.49 points, the Shenzhen Component Index down by 1.4%, and the ChiNext Index decreasing by 3.01% [1] Institutional Research - A total of 344 listed companies disclosed institutional investor research memos during the week, with approximately 50% of the researched stocks achieving positive returns [1] - Huasheng Lithium Electric led the gains with a 79.6% increase, while Fuxiang Pharmaceutical rose by 46.66%, Fangyuan Co. by 34.59%, and Yongtai Technology by nearly 34% [1] Company Highlights Boying Special Welding - Boying Special Welding (301468) was one of the most researched companies, receiving 4 institutional visits with participation from 79 institutions [1] - The focus of the inquiries included the company's capacity expansion for HRSG (Heat Recovery Steam Generator), progress on its Vietnam production base, and overseas expansion plans [1] - Boying indicated that the global oil and gas pipeline market is experiencing structural growth driven by increased natural gas demand in the Asia-Pacific and emerging markets, energy construction projects due to geopolitical conflicts, and the need for upgrades to aging pipelines in Europe and the U.S. [1] Anbotong - Anbotong received the highest number of institutional visits, with 95 institutions participating [1] - The company is focusing on AI and intelligent computing as a core direction, identifying common scenarios with strong demand in sectors like water conservancy and real estate leasing [1] - Anbotong's chairman emphasized the need for AI to defend against AI attacks, leveraging the company's long-term experience in network security [1] OptoTech - OptoTech hosted 75 institutional visits, focusing on machine vision technology applications and industry opportunities [1] - The company has been deeply involved in industrial automation for 20 years and has partnered with Yujiang Technology to enhance 3D vision systems for collaborative robots [1] Obit Optical - Obit Optical received 64 institutional visits, with inquiries about its self-developed chip progress [1] - The company has completed over 10 chip tape-outs, covering iToF, dToF photonic chips, and dedicated ASIC computing chips [1] - Obit Optical's 3D vision technology enables precise capture of spatial information, enhancing AI smart terminals with capabilities like environmental perception and intelligent interaction [1] Other Companies - Anke Biological, Dekeli, and World also received attention from over 50 institutions each during the week [1]

Market Overview - The A-share market experienced a slight pullback from November 10 to November 14, with the Shanghai Composite Index down 0.18% to 3990.49 points, the Shenzhen Component Index down 1.4%, and the ChiNext Index down 3.01% [1] Institutional Research Highlights - A total of 344 listed companies disclosed institutional investor research memos during the week, with approximately 50% of the researched stocks achieving positive returns [1] - Huasheng Lithium Battery led with a 79.6% increase, followed by Fuxiang Pharmaceutical at 46.66%, Fangyuan Co. at 34.59%, and Yongtai Technology at nearly 34% [1] - Notable stocks such as Zhongsheng Pharmaceutical and Fengyuan Co. achieved consecutive gains, with several others surpassing a 20% increase [1] Company Focus: Boying Special Welding - Boying Special Welding (301468) was one of the most researched companies, receiving 4 institutional visits with participation from 79 institutions [2] - The company focuses on anti-corrosion and wear-resistant welding equipment, with applications in energy, chemical, metallurgy, and other industries [2] - Key topics of inquiry included capacity expansion for HRSG (Heat Recovery Steam Generator), progress on the Vietnam production base, and overseas expansion plans [2] Boying Special Welding's Expansion Plans - The Vietnam base has officially commenced production with 4 HRSG production lines, and a second phase is expected to be operational by Q2 2026 [2] - The company plans to establish a total of 12 HRSG production lines in Vietnam to enhance overseas supply capabilities [2] - In domestic production, Boying has set up 2 HRSG production lines to support non-U.S. market demand [2] Global Market Trends - The global oil and gas pipeline market is experiencing structural growth driven by increased natural gas demand in the Asia-Pacific and emerging markets, energy construction projects due to geopolitical conflicts, and the need to upgrade aging networks in Europe and the U.S. [2] - Boying Special Welding is leveraging its technological advantages and is in discussions with leading international clients to establish a solid commercial relationship [2] Company Focus: Anbotong - Anbotong received the highest number of institutional visits, with 95 institutions participating [3] - The company specializes in core software for network security and is focusing on AI and intelligent computing as a core future direction [3] - Anbotong is actively seeking common scenarios with broad demand for enterprise-level applications, particularly in water conservancy and real estate leasing [3] Anbotong's Competitive Edge - The company emphasizes the need to combine traditional security expertise with AI algorithms and computing power to effectively counter AI-driven attacks [4] - Anbotong is establishing a computing power technology subsidiary focused on GPU resource management [3][4] Company Focus: Opto - Opto hosted 75 institutional visits, focusing on machine vision technology applications and industry opportunities [6] - The company has developed a comprehensive product matrix covering "vision + sensing + motion + AI" for industrial automation [6] - Opto has partnered with Yujian Technology to create a high-precision logistics automation sorting solution using a 3D vision system [6] Company Focus: Obsidian Optical - Obsidian Optical received 64 institutional visits, focusing on building the "eyes" of robots through self-developed chips and system technology [7] - The company has completed over 10 chip tape-outs, including iToF and dToF sensing chips [7] - As a partner in NVIDIA's global digital ecosystem, Obsidian Optical aims to integrate more visual ecological products into NVIDIA's platform [7] Other Companies - Anke Biological, Dekeli, and World also received research from over 50 institutions each [8]

Market Overview - The A-share market experienced a slight pullback this week, with the Shanghai Composite Index down 0.18% to 3990.49 points, the Shenzhen Component Index down 1.4%, and the ChiNext Index down 3.01% [1] - Institutional research enthusiasm remained high, with 344 listed companies disclosing institutional investor research summaries this week, and approximately 50% of the researched stocks achieved positive returns [1] Company Highlights Huasheng Lithium Battery - Huasheng Lithium Battery led the gains with a 79.6% increase, marking a cumulative deviation of 200% over 30 consecutive trading days [1] Boying Special Welding - Boying Special Welding (301468) was one of the most researched companies, receiving 4 institutional visits with 79 participating investors. The company focuses on special equipment manufacturing and has expanded into industrial equipment and high-end structural components [2] - Key topics included capacity expansion for HRSG (Heat Recovery Steam Generator) and the progress of its Vietnam production base, which has officially commenced operations with 4 HRSG production lines, and plans for a total of 12 lines by 2026 [2][3] Anbotong - Anbotong received the highest number of institutional visits this week, with 95 participating institutions. The company specializes in core software for network security and is focusing on AI + intelligent computing as a core direction for future growth [4] - The company is establishing a computing technology subsidiary in Shanghai and Nanjing, focusing on GPU resource management [4][5] Opto - Opto hosted 75 institutional visits, focusing on machine vision technology applications and industry opportunities. The company has developed a full-stack product matrix covering "vision + sensing + motion + AI" [6] - Recent collaborations include a partnership with Yujian Technology to enhance logistics automation through a 3D vision system [6] Obi Zhongguang - Obi Zhongguang received 64 institutional visits, focusing on its self-developed chips and 3D vision sensor technology for robotics and AI applications. The company has completed over 10 chip designs since its inception [7] ETF Performance - The Food and Beverage ETF (515170) tracked a sub-index with a 2.99% increase over the past five days, while the Gaming ETF (159869) decreased by 2.76%. The Sci-Tech 50 ETF (588000) and Cloud Computing 50 ETF (516630) saw declines of 3.76% and 4.93%, respectively [10]

Market Overview - The A-share market experienced a slight pullback this week, with the Shanghai Composite Index down 0.18% to 3990.49 points, the Shenzhen Component Index down 1.4%, and the ChiNext Index down 3.01% [1] - Institutional research enthusiasm remained high, with 344 listed companies disclosing institutional investor research summaries this week [1] - Approximately 50% of the stocks researched by institutions achieved positive returns, with Huasheng Lithium Electric leading with a 79.6% increase [1] Company Highlights 博盈特焊 (Boyin Special Welding) - Boyin Special Welding was one of the most researched companies this week, receiving 4 institutional visits with 79 participating investors [2] - The company focuses on special equipment manufacturing, with products used in various industrial sectors including energy and chemical industries [2] - Key topics of inquiry included capacity expansion for HRSG (Heat Recovery Steam Generator) and the progress of its Vietnam production base, which has officially commenced operations with 4 HRSG production lines [2] - The company plans to build a total of 12 HRSG production lines in Vietnam to enhance overseas supply capabilities [2][3] 安博通 (Anbotong) - Anbotong received the highest number of institutional visits this week, with 95 participating institutions [4] - The company specializes in core software for network security and is focusing on AI + intelligent computing as a core future direction [4] - Anbotong is actively seeking common scenarios with strong demand for enterprise-level applications, such as water conservancy and real estate leasing [4] - The company has established subsidiaries in Shanghai and Nanjing focused on GPU resource scheduling and management [4][5] 奥普特 (Opto) - Opto hosted 75 institutional visits, focusing on machine vision technology applications and industry opportunities [6] - The company has developed a full-stack product matrix covering "vision + sensing + motion + AI" for industrial automation [6] - Recent collaborations include a deep integration with Yujiang Technology to create high-precision logistics automation sorting solutions [7] 奥比中光 (Obi Zhongguang) - Obi Zhongguang received 64 institutional visits, focusing on self-developed chips and 3D vision technology [8] - The company has completed over 10 chip tape-outs, including iToF and dToF sensing chips [8] - As a partner in NVIDIA's global digital ecosystem, Obi Zhongguang aims to integrate more visual ecological products into NVIDIA's platform [8]

Group 1: Company Overview and Core Competencies - The company focuses on manufacturing anti-corrosion and anti-wear welding equipment, with a long-term commitment to special equipment manufacturing and expansion into industrial equipment and high-end structural components [1]. - Key competitive advantages include mastery of critical core technologies across materials, processes, and equipment, as well as comprehensive special equipment production qualifications [1][2]. - The management team has extensive industry experience, contributing to strong R&D capabilities and practical experience [2]. Group 2: Market Opportunities and Global Strategy - The company is strategically positioned in both domestic and international markets, maintaining a leading position in the domestic market while actively exploring overseas opportunities [2]. - The demand for waste incineration is increasing, driven by downstream upgrades and the need for resource recovery in various industrial sectors [2][4]. - The company has established a significant presence in the HRSG (Heat Recovery Steam Generator) market, with plans to expand production capacity in Vietnam to a total of 12 production lines, requiring an investment of approximately 6 million RMB for each additional line [3]. Group 3: Industry Trends and Future Outlook - The waste incineration market is experiencing a slowdown in new projects domestically, but there is substantial growth potential in overseas markets, particularly in Southeast Asia and Latin America, due to rapid urbanization [4]. - The coal-fired boiler sector remains crucial for China's power supply, with ongoing demand for upgrades and improvements in anti-corrosion and anti-wear performance [4]. - The market for metallurgical composite pipes is expanding due to increased oil and gas extraction in corrosive environments, with growing demand for advanced composite materials [5]. Group 4: Investor Inquiries and Responses - The pricing model for HRSG products from the Vietnam base is determined by material and labor costs, along with a set net profit margin [3]. - The company views the U.S. HRSG market as currently undersupplied, driven by structural growth in electricity demand and the transition to cleaner energy sources [3].

Company Overview - 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 technologies include material, process, and equipment, with certifications such as the National Special Equipment Production License, ASME, and EU certifications [1] - The management team has extensive industry experience and stability, contributing to the company's competitive edge [1] Market Opportunities - The waste incineration market shows broad demand, with downstream upgrades increasing penetration rates [2] - The coal-fired power industry is demonstrating significant growth potential, alongside expanding markets in chemicals, metallurgy, and papermaking [2] - The company has strategically positioned itself in HRSG and composite pipe businesses, with HRSG already achieving a certain production scale [2] Production Capacity - The HRSG product production cycle is approximately 6 months, with revenue recognized upon completion of production and shipping [3] - The Vietnam production base has 4 operational HRSG production lines, with plans for a total of 12 lines [4] HRSG Market Role - HRSG plays a crucial role in the U.S. power system, driven by structural growth in electricity demand and the need for efficient energy recovery [5] - The transition to cleaner energy enhances HRSG's market potential, as it improves gas turbine efficiency and reduces carbon emissions [5] Oil and Gas Pipeline Market - The global oil and gas pipeline market is experiencing structural growth, driven by rising natural gas demand and the need for infrastructure upgrades [6] - The demand for composite pipes is increasing due to challenges in oil and gas extraction and the need for pipeline replacements [6] Waste Incineration Market Insights - The overseas waste incineration market is expanding, particularly in developing regions facing waste management challenges [7] - Countries like Vietnam and Indonesia are prioritizing waste-to-energy solutions, supported by government policies [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 and expanding into industrial equipment and high-end structural components [1] - Key competitive advantages include mastery of critical core technologies across materials, processes, and equipment, as well as comprehensive special equipment production qualifications [1] - The management team has extensive industry experience and stability, with significant roles in technology R&D and production management [1] Group 2: Market Opportunities and Global Strategy - The company is committed to both domestic and international markets, maintaining a leading position in the domestic market while actively exploring overseas opportunities [2] - The waste incineration market shows broad demand, with downstream upgrades increasing penetration rates [2] - The company has strategically positioned itself in the HRSG and oil and gas composite pipe sectors, with HRSG already achieving a certain scale of production [2] Group 3: Production Capacity and Future Prospects - The Vietnam production base has four HRSG production lines in operation, with plans for a total of 12 lines [5][6] - The second phase of the Vietnam production base is expected to commence production in the second quarter of next year [5] - The company anticipates a robust order outlook for HRSG products from the Vietnam base, with several international clients undergoing preliminary factory audits [8] Group 4: Competitive Landscape and Market Trends - Major competitors in the US HRSG market include manufacturers from South Korea, Thailand, and Vietnam [4] - The structural growth in electricity demand in the US, driven by factors such as AI data centers and the return of manufacturing, supports the market for HRSG [7] - The transition to cleaner energy in the US enhances the market potential for HRSG, as it improves the efficiency of gas-fired power generation [7]