Core Insights - The demand for Heat Recovery Steam Generators (HRSG) in the U.S. is significantly increasing due to the rapid expansion of AI data centers, the return of manufacturing, and the rise in electric vehicle charging stations, leading to a structural growth in electricity demand [1] - The U.S. market for gas turbines is experiencing a notable surge in demand, with HRSG being a critical component that enhances the efficiency of gas turbine power generation [1] - The transition towards cleaner energy sources is further expanding the market for HRSG, as natural gas is increasingly recognized as a low-carbon transitional energy source, reducing carbon emissions compared to coal [1] Industry Summary - The structural growth in electricity demand in the U.S. is driven by several factors, including the rapid expansion of AI data centers and the increase in industrial electricity loads due to manufacturing resurgence [1] - HRSG plays a vital role in improving the overall efficiency of gas turbines by recovering high-temperature waste heat and generating steam for secondary power generation [1] - The ongoing push for carbon neutrality in the U.S. is enhancing the market potential for HRSG, as it helps lower carbon emissions and waste discharge per unit of electricity generated [1]

Core Viewpoint - The company, Boying Special Welding, is actively expanding its customer base and enhancing its market share in the energy and special equipment sectors, leveraging its production capabilities and cost advantages in HRSG products compared to overseas competitors [2]. Group 1: Company Developments - The company has passed production system certifications from some clients and has received corresponding orders [2]. - Potential clients are currently undergoing preliminary factory inspection processes, which must be completed before entering order negotiation stages [2]. - The company has established a production line in Vietnam to meet various customer selection requirements [2]. Group 2: Market Position and Strategy - The company has extensive experience in the energy sector and has cultivated a customer base that includes major gas turbine suppliers in the North American market [2]. - The company possesses comprehensive special equipment production qualifications and has rich experience in connecting with overseas clients [2]. - The company aims to leverage its advantages to actively expand its customer base, thereby achieving a steady increase in market share [2].

每经头条（nbdtoutiao）——灌水21万亿，高市早苗1.7万亿强化国防！日本负债率已远超债务危机时的 希腊，对美巨额投资致大规模资本外流，"卖出日元成国际趋势" （记者 曾健辉） 每经AI快讯，当升科技（SZ 300073，收盘价：58.74元）发布公告称，2025年11月26日10:00-11:30，当 升科技接受中信证券等投资者调研，公司副总经理、磷系产品线总经理、当升蜀道董事长陈新参与接 待，并回答了投资者提出的问题。 2025年1至6月份，当升科技的营业收入构成为：非金属矿物制品占比98.35%，专用设备制造业占比 1.65%。 截至发稿，当升科技市值为320亿元。 ...

Core Viewpoint - Runbang Co., Ltd. (002483.SZ) focuses on developing large-scale inclined ore transportation equipment for the mining sector, indicating a commitment to innovation and technology in its product offerings [1] Group 1: Product and Business Focus - The core product aimed at mining clients is a self-developed ultra-large inclined ore transportation device, suitable for land mining scenarios [1] - Currently, the company's business and product lines do not include underwater mining [1] Group 2: Research and Development - The company will continue to monitor cutting-edge technologies in the industry and increase its efforts in research and development [1]

Group 1 - The core point of the news is that Southbound funds have reduced their holdings in Sensong International (02155.HK) by 875,000 shares on November 26, 2025, marking a trend of net reductions over the past trading days [1][2] - Over the last five trading days, Southbound funds have reduced their holdings for four days, with a total net reduction of 1.34 million shares [1][2] - In the last twenty trading days, there have been thirteen days of net increases in holdings, totaling 3.939 million shares [1][2] Group 2 - As of now, Southbound funds hold 199 million shares of Sensong International, accounting for 15.94% of the company's total issued ordinary shares [1][2] - Sensong International Holdings Limited primarily engages in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions [2] - The company's main products include traditional pressure equipment such as heat exchangers, vessels, reactors, and towers, as well as modular pressure equipment like process modules and modular plants [2]

（文章来源：证券日报） 证券日报网讯 11月26日晚间，创力集团发布公告称，公司于2025年11月26日召开第五届董事会第二十 三次会议，审议通过了《关于调整公司组织结构的议案》。为进一步强化生产环节的协同联动，提升资 源配置效率与整体生产运营效能，现对公司组织结构进行调整，本次组织架构调整如下：生产计划部与 物资采购部合并成立"生产中心"。生产中心全面统筹负责公司的生产计划制定、物料需求分析、物资采 购、供应链管理、生产调度与协调等职能。通过流程再造与职能融合，实现从物料需求到生产交付全过 程的高效、顺畅管理，确保公司生产活动优质、高效、低成本运行。 ...

Core Viewpoint - The company emphasizes its ability to meet the increasing demands for equipment delivery cycles, technical adaptability, and localized service capabilities in large projects [1] Group 1 - The company has a flexible manufacturing system that allows for rapid response to customer needs [1] - It possesses a nationwide service network to support its operations [1] - The company offers customized development capabilities for new material forming [1]

Core Viewpoint - Runbang Co., Ltd. (002483) has strong capabilities in the tubular belt conveyor sector, leveraging the historical performance of the KOCH brand to ensure effective material transportation while minimizing environmental contamination and material loss [1] Group 1: Tubular Belt Conveyor - KOCH brand has a rich history of delivery performance in the tubular belt conveyor field, and the company has inherited relevant project achievements, demonstrating strong comprehensive strength in this area [1] - The products are primarily used in bulk material transportation, ensuring a two-way isolation between the transported materials and the external environment, preventing pollution and material quality degradation [1] - The structure and performance characteristics of tubular belt conveyors make them unsuitable for transporting related slag slurry [1] Group 2: Sludge Treatment Business - The company's subsidiary, Lvwai Environmental Protection, employs advanced technologies for sludge treatment, including deep conditioning and dewatering, sludge resource utilization incineration, and power generation through boiler coupling [1] - The sludge treatment business primarily handles urban comprehensive sludge, general industrial sludge, pipeline sludge, and river sediment, without involving slag disposal [1] - The company does not possess the technical capabilities or conditions to synergistically dispose of slag with its bulk material equipment [1]

Core Points - The stock of Lanstone Heavy Industry (603169) experienced a significant decline of 9.85% on the trading day, with a turnover rate of 11.38% and a total transaction value of 1.509 billion yuan [1] - The company reported a revenue of 4.746 billion yuan for the first three quarters of the year, reflecting a year-on-year growth of 26.93%, while net profit decreased by 88.33% to 11.1964 million yuan [2] Trading Activity - The stock was listed on the Shanghai Stock Exchange for a deviation of -9.70%, with net selling from the Shanghai-Hong Kong Stock Connect amounting to 6.0046 million yuan [1] - The top five trading departments accounted for a total transaction of 1.89 billion yuan, with buying amounting to 862.928 million yuan and selling at 1.03 billion yuan, resulting in a net selling of 167.529 million yuan [1] - The main buying and selling department was the Shanghai-Hong Kong Stock Connect, with a buying amount of 376.045 million yuan and selling amount of 436.091 million yuan, leading to a net selling of 6.0046 million yuan [1] Fund Flow - The stock saw a net outflow of 251 million yuan from main funds, with a significant outflow of 163 million yuan from large orders [1] - Over the past five days, the main funds experienced a net inflow of 3.0071 million yuan [1] - As of November 25, the margin trading balance for the stock was 630 million yuan, with a financing balance of 628 million yuan and a securities lending balance of 2.0397 million yuan [1] - The financing balance increased by 58.6242 million yuan over the past five days, representing a growth of 10.30%, while the securities lending balance rose by 102.3 thousand yuan, a growth of 5.28% [1]

Core Viewpoint - The company has achieved key technology independence in the magnesium alloy semi-solid die-casting equipment sector, demonstrating comprehensive advantages in energy consumption, yield rate, and maintenance costs compared to imported brands [2]. Group 1 - The company has realized key technology independence in the magnesium alloy semi-solid die-casting equipment field [2]. - The company exhibits certain comprehensive advantages in energy consumption, yield rate, and maintenance costs [2]. - The company plans to continue strengthening technological iteration and service support to facilitate greater breakthroughs in high-end domestic equipment for key material forming processes [2].