Group 1: Company Overview - The company was established in 1955 and listed on the Shenzhen Stock Exchange in 2002, later renamed to Xizi Clean Energy Equipment Manufacturing Co., Ltd. in 2011 [2] - The main business includes the research, development, production, sales, installation, and engineering contracting of waste heat boilers and clean energy generation equipment [2][3] - The company operates four main business segments: waste heat boilers, clean energy equipment, solutions, and spare parts & services [3] Group 2: Market Expansion - Future growth markets include the renewable energy sector, focusing on molten salt energy storage technology for applications in solar thermal power, user-side energy storage, and zero-carbon parks [4] - The nuclear power market is targeted through the upgrade of manufacturing capabilities at the Chongxian base to enhance nuclear product manufacturing capacity [5][7] - The company aims to expand its international market presence, particularly in waste heat boilers, to increase its market share [4] Group 3: Order and Financial Performance - In the first half of 2025, the company secured new orders totaling CNY 2.784 billion, with specific segments: waste heat boilers (CNY 703 million), clean energy equipment (CNY 281 million), solutions (CNY 1.477 billion), and spare parts & services (CNY 323 million) [8] - As of June 30, 2025, the total orders on hand amounted to CNY 6.119 billion, reflecting a focus on quality control and optimized order structure [8] Group 4: Risk Management - The company mitigates raw material price volatility through inventory management, price locking with suppliers, and futures hedging strategies [9] - Product structure optimization and cost design improvements are employed to enhance competitiveness and stabilize production costs [9] Group 5: Equipment Supply and Delivery - The company’s subsidiary, Hangzhou Hangguo General Equipment Co., Ltd., specializes in the design and manufacturing of various equipment, including shield machines, with a history of successful projects [10] - Delivery timelines for domestic projects are generally shorter, while overseas projects may take longer, with spare parts maintenance typically requiring 6-12 months based on customer needs [11] Group 6: International Market Focus - The company’s overseas market strategy targets Southeast Asia, South America, and regions along the Belt and Road Initiative, enhancing brand recognition and competitiveness [11]