Company Overview - Guangdong Boying Special Welding Technology Co., Ltd. was established in 2007, initially focusing on welding services for offshore drilling platforms for North American clients. The company has since expanded into anti-corrosion and wear-resistant welding fields and successfully listed on the Shenzhen Stock Exchange's Growth Enterprise Market in July 2023 [1]. - The company emphasizes advanced welding technology and provides manufacturing services and process solutions to clients [1]. Market Strategy - The company aims to maintain its leading position in the domestic market while actively exploring overseas markets, particularly by investing in a production base in Vietnam to seize opportunities in the North American HRSG market [1]. - The demand for waste incineration and the transformation of the coal-fired power generation industry are expected to enhance market penetration rates, with significant growth potential in chemical, metallurgy, and paper industries [1]. Business Development - The company has proactively laid out HRSG and oil-gas composite pipe businesses, with HRSG already achieving a certain scale of production and securing some orders. Potential clients are currently undergoing factory audits [2]. - The new production base in Vietnam has commenced operations, with a second phase under construction. The Dawa production base is also progressing, expected to be operational next year [2]. Competitive Landscape - In the Vietnamese HRSG market, competitors include manufacturers from South Korea, Thailand, and Vietnam. The company has extensive experience in the energy sector and has established a production line in Vietnam, providing a cost advantage over foreign competitors [3]. - The production cycle for HRSG products is approximately six months, with the Vietnam base primarily producing components for gas turbine heat recovery systems [3][4]. Production Capacity - One HRSG production line in Vietnam can produce about two sets of HRSG devices per year, depending on production scheduling and resource availability [4]. - The company has obtained necessary certifications, including ASME, and is progressing well in the customer audit process for entering the North American market [5]. Industry Applications - The company's main business includes anti-corrosion and wear-resistant welding equipment, non-welded boiler components, pressure vessels, and high-end steel structures, applicable in energy, chemical, metallurgy, and paper industries [6][7]. - The company has established relationships with high-quality clients in various sectors, including paper and metallurgy, further solidifying its leading position in the industrial anti-corrosion and wear-resistant market [6].

Group 1: Company Overview and Achievements - The company has notable overseas projects, including the largest waste-to-energy facility in Dubai, covering an area of 40,000 square meters, significantly enhancing its international visibility and order acquisition capabilities [1] - Key EPC partners include renowned companies such as General Electric (GE), Mitsubishi, and Hitachi (HZI) [2] Group 2: Product and Technology - The company specializes in producing heat recovery steam generators (HRSG) and related components, with a comprehensive capability in R&D, design, and manufacturing [3] - It holds various industry certifications, including the A-level boiler production license and ASME certification [3] Group 3: Market Expansion and Applications - The company is actively expanding its applications beyond the power energy sector into industries such as papermaking and metallurgy, securing high-quality clients like Nine Dragons Paper and Zijin Mining [4] - Its products are utilized in energy-saving and environmental protection across multiple sectors, including chemical and metallurgical industries [5] Group 4: Market Outlook - The overseas waste-to-energy market is projected to grow significantly, driven by rapid urbanization in developing regions, which increases waste generation and necessitates effective waste management solutions [5] - In developed regions, there is a rising demand for upgrading and retrofitting existing waste incineration facilities, further boosting market needs [5]

Group 1 - The core viewpoint of the article highlights that 博盈特焊 (301468.SZ) specializes in products and technologies used in energy-saving and environmental protection, as well as in various industrial corrosion and wear-resistant fields [1] - The company serves important clients in the metallurgy sector, including 紫金矿业, 江西铜业, and 铜陵有色 [1] - 博盈特焊 provides cladding equipment and components such as cladding boiler water walls and cladding water jacket plates to non-ferrous metal enterprises [1]