Core Insights - Xizi Clean Energy (002534.SZ) has achieved record sales and market share in the HRSG sector, solidifying its leading position in the industry by leveraging nearly 50 years of independent development and manufacturing capabilities [1] - The company has supplied over 450 HRSG units, maintaining a domestic market share of over 50%, and is recognized as a pioneer in exporting HRSG products internationally [1] Group 1: Domestic Market Position - Xizi Clean Energy has developed a range of HRSG products, including vertical forced circulation and natural circulation types, filling domestic gaps and optimizing technology for diverse market needs [2] - The company has executed several benchmark projects in China, including those for the Beijing Olympics and major energy projects in Guangdong and Dongguan, demonstrating its technical strength and project execution capabilities [2] Group 2: International Market Expansion - The global demand for natural gas power generation is increasing, and Xizi Clean Energy has gained significant trust from overseas clients due to its brand influence, product quality, and service capabilities [3] - The company has secured a substantial number of overseas project orders, with over 20% of its orders coming from international markets, including landmark projects in Pakistan and Nigeria [3] - Looking ahead, Xizi Clean Energy aims to capitalize on the rising global demand for natural gas power generation and enhance its competitiveness in international markets, particularly in North America [3]

Core Viewpoint - Xizi Clean Energy has established itself as a leader in the domestic gas turbine waste heat boiler market, holding over 50% market share, and is expanding its presence in overseas markets due to increasing demand for natural gas installations [1] Group 1: Domestic Market Position - The company signed a technology transfer agreement with the US N/E company in 2002, which is the largest technology transfer entity globally [1] - Gas turbine waste heat boilers are critical equipment for addressing the slow start-up of traditional thermal power and the instability of renewable energy, thanks to their low carbon efficiency and rapid peak response capabilities [1] - The company has a domestic market share exceeding 50%, making it the leader in the gas turbine waste heat boiler industry in China [1] Group 2: International Expansion - The company has gained recognition from overseas clients due to its brand effect, equipment quality, and delivery service, particularly in the context of expanding natural gas installation demands [1] - Notable projects include the first set of 9H gas turbine waste heat boilers in Pakistan, marking significant achievements in international markets [1] - In the last two years, the company has secured multiple overseas project orders, capitalizing on the surge in global electricity demand [1] Group 3: Product Supply and Compatibility - The company has supplied over 450 sets of gas turbine waste heat boilers, covering a full range of products [1] - Its products are compatible with major global gas turbine brands such as GE, Siemens, and Mitsubishi [1]