Group 1 - The core point of the article is that Bolong Technology (SH 603325) held its 11th meeting of the second board of directors on November 19, 2025, to review the proposal for amending the "Audit Committee Annual Work Regulations" [1] - For the year 2024, Bolong Technology's revenue composition is as follows: pneumatic conveying systems account for 99.96%, while other businesses account for 0.04% [1] - As of the time of reporting, Bolong Technology has a market capitalization of 6.4 billion yuan [1]

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].