Group 1 - The core point of the article is that Bolong Technology (SH 603325) announced the convening of its second board meeting on October 27, 2025, to discuss the mid-term cash dividend plan for 2025 [1] - For the year 2024, Bolong Technology's revenue composition is heavily weighted towards pneumatic conveying systems, which account for 99.96% of total revenue, while other businesses contribute only 0.04% [1] - As of the report, Bolong Technology has a market capitalization of 6.9 billion yuan [1]

Core Viewpoint - The pneumatic conveying system industry is experiencing significant growth, with a projected global market size of $35.76 billion in 2024, reflecting a year-on-year increase of 9.66% [1][10]. Overview - Pneumatic conveying systems utilize airflow energy to transport bulk materials through closed pipelines, ensuring automated and safe operation [2][4]. Market Policies - The Chinese government has implemented various policies to support the development of the pneumatic conveying equipment industry, creating a favorable environment for growth [6]. Industry Chain - The industry chain consists of upstream suppliers of general machinery and materials, midstream manufacturers and system integrators, and downstream application markets across various sectors such as petrochemicals, food, and pharmaceuticals [7][9]. Development Status - The pneumatic conveying technology has evolved significantly since its inception in the late 19th century, becoming integral to industrial automation and smart manufacturing, with widespread applications in multiple sectors [1][10]. Competitive Landscape - The market is characterized by a polarized competition, with numerous small enterprises competing in low-requirement sectors, while a few large companies dominate high-tech fields [11][12]. Representative Domestic Enterprises - Shanghai Bolong Technology Co., Ltd. focuses on pneumatic conveying solutions, achieving a revenue of 1.157 billion yuan in 2024, with 99.91% from pneumatic conveying systems [12][13]. - Shanghai Jinshende Powder Engineering Co., Ltd. was established to reduce reliance on foreign technology and has developed advanced pneumatic conveying technologies [13]. Development Trends - Future trends indicate a shift towards energy efficiency driven by carbon reduction policies, with innovations in materials and technology to meet the increasing demands from emerging industries such as lithium batteries and biomedicine [14][15].