Summary of the Conference Call on Dewel Company and Multi-Axis Forging Technology Industry and Company Overview - The conference call focuses on Dewel Company and its advancements in multi-axis forging technology, which is a significant innovation in the forging industry [2][4][6]. Core Points and Arguments - **Multi-Axis Forging Technology**: This advanced forging process applies forces in multiple directions (X, Y, Z axes) simultaneously, allowing for more complex and precise shape control compared to traditional forging methods [3][9]. - **Cost and Time Efficiency**: The technology can save over 50% in material costs and reduce production cycles from hours to minutes, significantly enhancing production efficiency [2][10][12]. - **Market Potential**: The multi-axis forging market has vast potential, especially in high-end manufacturing sectors such as aerospace and automotive industries. Dewel aims to expand its market share by increasing R&D investment and enhancing international cooperation [2][7][18]. - **Development Stages**: The development of multi-axis forging technology is divided into three stages: basic research and experimental validation, industrial promotion, and widespread application and upgrading [8][19]. - **Historical Context**: The technology has evolved since 2011, overcoming economic viability issues that previously limited its application to high-value, high-demand standardized production [5][11][12]. Additional Important Insights - **Material Cost Reduction**: Dewel's technology allows for the use of standard stainless steel and special steel instead of high-value materials, leading to significant cost savings [4][13]. - **Global Demand for High-End Forgings**: There is a rapid increase in global demand for high-end forgings, with Dewel expecting to deliver orders by the end of 2025 and early 2026, indicating high market recognition and future growth potential [17][18]. - **Market Size and Segmentation**: The global valve market is approximately $90 billion, with forged components accounting for about $18 billion. Dewel's potential market in forged valves could reach $7 to $8 billion [20]. - **Strategic Partnerships**: Dewel's major clients include FMC and Schlumberger Cameron, which provide a stable order volume and support market expansion [21][22]. - **Impact of Multi-Axis Forging on the Industry**: The technology is expected to redefine industry standards by reducing costs and improving product quality, potentially replacing casting products in various applications [23][24]. Future Outlook - **Long-Term Growth Potential**: Dewel's investments in technology and market strategies position it well for future growth, with expectations of becoming a leading player in the forging industry [19][27]. - **Broad Application Potential**: Multi-axis forging technology is applicable in various fields, including deep-sea, oil and gas pipelines, power generation, aerospace, and nuclear power, indicating a broad horizontal expansion capability [25][26].