（编辑 任世碧） 证券日报网12月17日讯 博盈特焊在12月17日回答调研者提问时表示，堆焊有三条技术路径，分别是 MIG焊、TIG焊、激光焊。MIG焊指熔化极惰性气体保护焊，具有高效率的特点，MIG焊可以应用于高 温高腐蚀的情境下，典型的应用场景是垃圾焚烧炉。TIG焊指非熔化极惰性气体保护焊，具有高质量、 全位置焊接的特点，TIG焊在油气管道上的应用效果会很好。激光焊是通过在基材表面添加熔覆材料， 并利用高能密度的激光束使之与基材表面薄层一起熔凝的方法，激光焊效率很高，可以应用于煤粉炉领 域。公司不断进行研发创新，通过数字脉冲MIG高频振荡堆焊技术，将精准脉冲电弧控制与复合高频振 荡相结合，从而获得稳定的电弧过渡、极低的热输入和极低的稀释率，实现高熔敷率与高稳定性。此 外，在巩固和发展数字脉冲MIG堆焊领域优势技术的基础上，公司不断开发和储备行业先进技术，先后 开发并掌握了激光堆焊、二次重熔等领域的核心技术。公司掌握的堆焊技术可以应用于强腐蚀、易磨 损、高温、高压等复杂环境中。应用场景涵盖的范围较广，包括节能环保、电力、能源、化工、冶金、 造纸等工业领域。 ...

Summary of the Conference Call for 博盈特焊 Industry and Company Overview - 博盈特焊 is positioned in the waste-to-energy sector, primarily focusing on waste incineration power generation, which currently accounts for approximately 70% of its revenue. The company is also involved in coal-fired power and biomass power generation [2][6]. - The company is shifting its strategic focus towards international markets, particularly Southeast Asia, Europe, and the Americas, in response to market saturation in China and the impact of trade wars [2][4]. Core Insights and Arguments - **Growth in Overseas Markets**: 博盈特焊 anticipates that by 2024, overseas revenue will constitute 55% of total income, with expectations for further increases in the future [2][6]. - **New Business Ventures**: The company is entering the oil and gas composite pipe market through a joint venture, utilizing cladding technology to enhance corrosion resistance. This initiative targets the Middle Eastern oil and gas floating valve pipe market, with significant contributions expected post-2027 [2][11]. - **HRSG Market Potential**: The company is leveraging its Vietnam base to serve the North American gas power market, where demand for heat recovery steam generators (HRSG) is increasing due to a resurgence in manufacturing and data center construction [2][8][10]. - **Financial Health**: 博盈特焊 has a strong cash flow position, having raised 1.5 billion RMB from its IPO, with 1.1 to 1.2 billion RMB remaining for future expansions in HRSG and oil and gas sectors [3][6]. Additional Important Points - **Profit Forecast**: The company projects profits of 180 million RMB in the next year, with expectations to reach 300 million RMB by 2027, driven by new business developments [5][12]. - **Market Dynamics**: The global HRSG market is primarily concentrated in China, but due to high tariffs, the U.S. market is shifting towards sourcing from Southeast Asia, India, and South Korea, creating supply shortages [9][10]. - **Management and Incentives**: The founder, 李海生, controls over 41% of the company’s shares, and there have been multiple stock incentive plans to motivate key personnel [7]. This summary encapsulates the key points discussed in the conference call, highlighting the strategic direction, market opportunities, and financial outlook for 博盈特焊.

Core Viewpoint - 博盈特焊 has signed a cooperation framework agreement with Suzhou Weirham Cladding Technology Co., Ltd. to enhance market competitiveness and expand the application of cladding technology in the oil and gas sector and overseas markets [1] Company Summary - The cooperation aims to leverage both companies' strengths in technology, market, brand, and funding [1] - The agreement does not specify any financial amounts and is not expected to have a significant impact on the company's current year operating performance [1] - Future impacts on the company's operating performance will depend on the specifics of subsequent cooperation [1]