| ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | ☑ | 线上调研 | | 参与单位名称及 | 和谐资产 朱之轩 | | 人员姓名 | 申万菱信基金 谢欣雨 | | 时间 | 2026 年 1 月 7 日 | | 地点 | 腾讯会议 | | 上市公司接待人 | 1、董事、副总经理、董事会秘书 刘一宁 | | 员姓名 | 2、投资者关系管理专员 谭静怡 | | | 一、董事会秘书刘一宁先生简单介绍公司情况 | | | 新年初始，公司业务呈现出四个向好的态势：一是海外市场 | | | 拓展成效显著，二是 业务增长迅速，三是油气复合管业 HRSG | | | 务蓄势待发，四是公司为投资者创造长期价值的信心十足。 | | | 公司原来主营的垃圾焚烧领域，海外市场需求广泛，下游转 | | | 型升级、发展中国家的政策推动促使渗透率提升；燃煤发电行业 | | | 示范效应开始显现，存在广阔的发展空间；化工、冶金、造纸等 | | 投资者关系活动 主要内容介绍 | 其他应 ...

证券代码：301468 证券简称：博盈特焊 编号：2026-002 广东博盈特焊技术股份有限公司投资者关系活动记录表 | ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | ☑ | 现场参观 □其他 | | ☑ | 线上调研 | | 参与单位名称及 | 泰康资产 | | 人员姓名 | 银华资产 | | | 景顺长城基金 江磊 林昕阳 | | | 融通资金 卢文杰 | | 时间 | 2026 年 1 月 6 日 | | 地点 | 腾讯会议、广东博盈特焊技术有限公司会议室 | | 上市公司接待人 | 1、董事、副总经理、董事会秘书 刘一宁 | | 员姓名 | 2、投资者关系管理专员 谭静怡 | | | 一、董事会秘书刘一宁先生简单介绍公司情况 | | | 新年初始，公司业务呈现出四个向好的态势：一是海外市场 | | | 拓展成效显著，二是 业务增长迅速，三是油气复合管业 HRSG | | | 务蓄势待发，四是公司为投资者创造长期价值的信心十足。 | | | 公司原来主营的垃圾焚烧领域，海外市场需求 ...

证券研究报告 | 2026年01月06日 | 晨会纪要 | | --- | | 数据日期:2026-01-05 | 上证综指 | 深证成指沪深 | 300 指数 | 中小板综指 | 创业板综指 | 科创 50 | | --- | --- | --- | --- | --- | --- | --- | | 收盘指数（点） | 4023.41 | 13828.62 | 4717.74 | 14798.40 | 4017.28 | 1403.41 | | 涨跌幅度（%） | 1.37 | 2.24 | 1.89 | 1.73 | 2.70 | 4.40 | | 成交金额（亿元） | 10673.34 | 14789.37 | 6305.77 | 5236.93 | 6962.18 | 811.87 | $$\overline{{{\mathbb{M}}}}\cong\pm\overline{{{\mathbb{M}}}}$$ (4) [ (4) 384938 1 宏观与策略 固定收益专题研究:2025 年债券行情回顾-收益率总体企稳回升，信用利 差被动收窄 固 定 收 益 快 评 : 可 交 换 私 募 债 跟 踪 ...

证券代码：301468 证券简称：博盈特焊 编号：2026-001 广东博盈特焊技术股份有限公司投资者关系活动记录表 | ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | ☑ | 线上调研 | | 参与单位名称及 | 磐泽资产 庞韬 | | 人员姓名 | 海螺创投 陆陈伟 | | | 梵星投资 李泓桦 | | | 颐和久富 闵宏巍 | | 时间 2026 | 年 月 日 1 5 | | 地点 | 腾讯会议 | | 上市公司接待人 | 1、董事、副总经理、董事会秘书 刘一宁 | | 员姓名 | 2、投资者关系管理专员 谭静怡 | | | 一、董事会秘书刘一宁先生简单介绍公司情况 | | | 公司坚定立足国内、国际两个市场，在保持国内市场领先地 | | | 位的同时，积极开拓海外市场，投资海外子公司，把握国际市场 | | | 机遇，实现全球化的战略布局。 | | | 公司业务的发展机遇：垃圾焚烧市场需求广泛，下游转型升 | | | 级促使渗透率提升；燃煤发电行业示 ...

证券代码：301468 证券简称：博盈特焊 编号：2025-040 广东博盈特焊技术股份有限公司投资者关系活动记录表 | ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | ☑ | 线上调研 | | 参与单位名称及 | 华夏基金：张俊、吴昊、连骁、韩丽楠、马伟恩、王嘉伟、吕嘉 | | 人员姓名 伟 | | | | 平安基金：黄维 | | 时间 2025 | 年 月 日 12 22 | | 地点 | 腾讯会议 | | 上市公司接待人 | 刘一宁 1、董事、副总经理、董事会秘书 | | 员姓名 | 2、投资者关系管理专员 谭静怡 一、董事会秘书刘一宁先生简单介绍公司情况 | | | 公司以防腐防磨堆焊装备为核心，长期专注于特种装备制 | | | 造，不断向工业设备整体制造、高端结构件制造及其他大型装备 | | | 制造等方向延伸与拓展。公司的产品和技术主要应用于节能环 | | | 保、电力、能源、化工、冶金、造纸等工业领域。 | | | 公司的竞争能力主要体现在如下 ...

在全球能源转型与人工智能浪潮的交汇处，中国高端制造企业的海外布局成为观察产业动向的窗口。 近期，全景网围绕专业视角走进博盈特焊（301468）（301468.SZ）位于广东江门的总部及越南生产基 地。作为特种堆焊领域龙头，该公司正将其技术优势通过越南基地，精准投向因AI爆发而电力需求激 增的北美市场。 越南基地：承接北美确定性电力增量 走进博盈特焊越南海防市南亭武工业区基地的车间，机器轰鸣，焊花飞溅。长达数十米的巨型模块正在 特别设备上有序列队生产。这些即将发往北美的产品，是燃气发电的核心设备——HRSG（余热锅炉） 的承压部件。 刘一宁表示，此项技术瞄准的是由国际巨头主导、年需求达数十亿美元的高端油气复合管市场，主要应 用于深海、高腐蚀等苛刻环境。公司的堆焊技术能满足高端项目对可靠性的极致要求，从而有望跳过低 价竞争，切入高附加值市场。目前，公司正与国际头部油服公司推进技术论证与资格审核。 从堆焊装备制造到油气复合管，其共同技术内核在于"大面积、高质量、自动化堆焊"这一核心工艺，这 也是公司在长期服务电力、环保等领域中构筑的技术护城河。 全球运营："智慧大脑"下的协同网络 面对海外产能布局，博盈特焊形成了" ...

Group 1: Company Overview and Market Position - Guangdong Boying Special Welding Technology Co., Ltd. was established in 2007, focusing on welding services for North American offshore drilling platforms and has since expanded into anti-corrosion and wear-resistant welding fields [1] - The company successfully listed on the Shenzhen Stock Exchange's Growth Enterprise Market in July 2023, emphasizing its commitment to welding technology and solutions [1] - The company aims to maintain its leading position in the domestic market while actively exploring overseas markets, including investments in a production base in Vietnam [1] Group 2: Market Demand and Expansion - The company has identified significant market opportunities in the HRSG (Heat Recovery Steam Generator) and oil and gas composite pipe sectors, with HRSG already achieving a certain scale of production [2] - As of September 30, 2025, overseas revenue accounted for approximately 54.28% of total revenue, with products primarily exported to Asia, North America, South America, and Europe [2] - The demand for waste incineration in overseas markets is expected to grow, particularly in developing countries facing rapid urbanization and waste management challenges [3] Group 3: Production Capacity and Investment - The Vietnam production base has four HRSG production lines in phase one, with plans for a total of 12 lines, and phase two is under construction [5] - The company plans to invest up to 275 million yuan in the Vietnam base to expand production capacity and improve service quality [6] - The revenue recognition method primarily follows the FOB (Free On Board) trade model, confirming revenue upon completion of production and export procedures [7]

Group 1: Company Overview and Market Position - Guangdong Boying Special Welding Technology Co., Ltd. focuses on welding technology and has been operational since 2007, initially serving North American clients in the offshore drilling platform welding sector [1] - The company successfully listed on the Shenzhen Stock Exchange's Growth Enterprise Market in July 2023, emphasizing its commitment to both domestic and international markets [1] - The company aims to maintain its leading position in the domestic market while actively expanding into overseas markets, particularly through investments in a production base in Vietnam [1] Group 2: Business Performance and Market Demand - As of September 30, 2025, the company's products are primarily used in the waste-to-energy sector, accounting for approximately 58.99% of revenue, with significant contributions from the chemical, paper, coal power, and gas turbine industries [5] - The company's overseas revenue represents about 54.28% of total income, with exports primarily directed to Asia, the USA, South America, and Europe [5] Group 3: Production Capacity and Expansion Plans - The Vietnam production base has four HRSG production lines in its first phase, with plans to expand to a total of 12 lines based on market demand [6] - The second phase of the Vietnam base is under construction and is expected to commence production in the second quarter of the following year [6] Group 4: International Projects and Partnerships - Notable international projects include the HZI Dubai project, which is the largest waste-to-energy facility globally, enhancing the company's visibility and order acquisition capabilities in international markets [3] - The company collaborates with major EPC contractors such as General Electric, Hitachi, and Mitsubishi, strengthening its position in the global market [4] Group 5: Future Market Outlook - The HRSG market in the USA is expected to grow due to structural increases in electricity demand driven by factors such as the expansion of AI data centers and the return of manufacturing [8] - The transition to cleaner energy sources in the USA further enhances the market potential for HRSG, as it improves the efficiency of gas-fired power generation and reduces carbon emissions [8]

Group 1: Company Overview and Core Competencies - The company focuses on anti-corrosion and wear-resistant welding equipment, specializing in the manufacturing of special equipment for various industrial sectors, including energy, chemical, metallurgy, and papermaking [1] - Key competitive advantages include mastery of critical technologies across materials, processes, and equipment, as well as comprehensive production qualifications such as national special equipment production licenses and international certifications [1] - The management team has extensive industry experience and stability, contributing to strong R&D capabilities and practical experience [1] Group 2: Market Opportunities and Strategic Expansion - The company is actively expanding into international markets while maintaining its leading position in the domestic market, with a focus on global strategic layout [2] - The garbage incineration market shows significant demand, with a projected increase in penetration rates due to downstream industry upgrades [2] - The company has strategically positioned itself in the HRSG and composite pipe businesses, with HRSG already achieving a certain scale of production [2] Group 3: Revenue Breakdown and Industry Applications - As of September 30, 2025, 58.99% of the company's revenue comes from the waste incineration power generation sector, with significant contributions also from the chemical, papermaking, and coal-fired power sectors [3] - The domestic coal-fired boiler market remains crucial, driven by increasing electricity demand and the need for upgrades in response to environmental policies [6] Group 4: International Market Dynamics - The domestic market for garbage incineration has slowed, but overseas markets, particularly in Southeast Asia and Latin America, present substantial growth opportunities due to rapid urbanization and increasing waste management pressures [5] - Developed regions like Europe and North America have mature waste incineration industries, creating demand for upgrades and renovations of existing facilities [5] Group 5: Future Production and Strategic Initiatives - The company has laid out plans for two HRSG production lines in the Dayaow base, expected to be operational by 2026, primarily serving non-North American markets [7] - The company is expanding its overseas presence with a production base in Vietnam, which has already commenced operations, and plans for further development to capture North American market opportunities [8]

证券代码：301468 证券简称：博盈特焊 编号：2025-031 广东博盈特焊技术股份有限公司投资者关系活动记录表 | ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | ☑ | 现场参观 □其他 | | | □线上调研 | | 参与单位名称及 | 长城基金 周诗博 | | 人员姓名 | 新思哲 谢远熙 | | | 天风机械 朱晔 薛长安 | | | 红土创新 郑伟佳 | | | 禾其投资 杨硕 | | 时间 2025 | 年 月 日 12 8 | | 地点 | 广东博盈特焊技术股份有限公司会议室 | | 上市公司接待人 | 刘一宁 1、董事、副总经理、董事会秘书 | | 员姓名 | 2、投资者关系管理专员 谭静怡 | | | 一、董事会秘书刘一宁先生简单介绍公司情况 | | | 公司以防腐防磨堆焊装备为核心，长期专注于特种装备制 | | | 造，不断向工业设备整体制造、高端结构件制造及其他大型装备 | | | 制造等方向延伸与拓展。公司的产品和技术主要应用于节能环 | | | 保、电力、能 ...