调研活动基本信息 2025年12月23日，广东博盈特焊技术股份有限公司（以下简称"博盈特焊"）在公司会议室接待了特定对 象调研及现场参观活动。中信建投、易方达、新世界金控等3家机构的分析师及投资人员参与了本次调 研，公司董事、副总经理、董事会秘书刘一宁及投资者关系管理专员谭静怡负责接待并与机构代表交 流。 公司核心业务与竞争优势解析 调研中，刘一宁首先介绍了公司基本情况。博盈特焊以防腐防磨堆焊装备为核心，长期专注于特种装备 制造，并向工业设备整体制造、高端结构件制造及大型装备制造等领域延伸。公司产品主要应用于节能 环保、电力、能源、化工、冶金、造纸等工业领域，核心竞争力体现在四大方面： 一是技术壁垒深厚，掌握材料、工艺、设备等关键核心技术，拥有国家《特种设备生产许可证》、美国 ASME认证、欧盟EN认证等齐全资质；二是管理团队经验丰富，核心成员多具备跨国公司任职及项目 经验，且团队稳定性强；三是行业先发优势显著，规模化生产能力与高效管理构筑竞争壁垒；四是客户 资源优质，拥有国内外知名客户的丰富应用案例，承接大项目及国际订单能力突出。 投资者关注焦点与公司回应 核心焊接技术应用场景及技术优势 针对机构提出的焊接 ...

（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。 ...

Group 1: Industry Trends - The welding equipment industry is evolving towards digital control, intelligent process control, network integration, and automation [2] - Welding technology is a core technology in manufacturing, with applications across various sectors including new energy vehicles, marine engineering, military, aerospace, and power engineering [2][4] Group 2: Company Products and Applications - The company specializes in inverter welding and cutting equipment, automation products, and laser welding, with a broad application in industries such as power engineering and shipbuilding [2][4] - The company has developed a range of automated welding products, including digital welding equipment and robotic welding systems, showcasing its capability in designing large-scale automated welding production lines [3] Group 3: Technological Advancements - The company is technology-driven, holding over 200 national patents and possessing advanced technology in power electronics and control systems [5] - A proprietary chip for digital welding machines has been developed, enhancing product performance while reducing costs [6] Group 4: Sales and Distribution - The company employs a distributor sales model for its welding equipment, with approximately 400 primary distributors and over 2000 secondary distributors in the domestic market, and more than 100 overseas distributors [7][9] - Overseas sales account for about one-third of the company's total sales, with a focus on expanding into key regions such as the Americas and Europe [9] Group 5: Manufacturing and Infrastructure - The company is constructing an intelligent manufacturing industrial park in Shunde, aimed at enhancing production capabilities and overall competitiveness [9]

Group 1: Company Advantages - The company has a strong innovation advantage, having developed the first domestic inverter welding machine in 1987, and continues to lead in product innovation and technology development [2][3] - The brand and channel advantage is evident with nearly 400 primary distributors and over 2000 secondary distributors in the domestic market, along with over 100 distributors in more than 60 countries globally [3][11] - The company emphasizes quality and cost-effectiveness, with a significantly lower failure rate than the industry average and high product reliability [3][8] Group 2: Industry Trends - The global welding equipment industry is trending towards digital control, intelligent process control, network integration, and automation [4] Group 3: Digitalization and Sales Strategy - The company has invested in digital welding technology and has a comprehensive range of digital welding products, maintaining a competitive edge in the domestic market [5][6] - The sales model primarily relies on distributors, with a focus on digital marketing and online sales through platforms like Douyin and Kuaishou [6] Group 4: Automation and Product Development - The company offers a range of automation products, including welding carts and robotic welding systems, and has the capability to design large-scale automated welding production lines [7][8] - Continuous technological innovation is a core competitive advantage, with over 200 national patents and a focus on developing new technologies and products [8][9] Group 5: Market Applications and Expansion - The company's products are widely used in various industries, including new energy vehicles, marine engineering, military, aerospace, and construction [10] - Approximately one-third of the company's inverter welding products are sold overseas, with a focus on expanding into markets in Southeast Asia, Australia, and the Middle East [11] Group 6: Future Plans - The company is constructing an intelligent manufacturing industrial park to enhance production capabilities and overall competitiveness [12] - There are ongoing plans for strategic partnerships and potential acquisitions in sectors related to welding equipment, smart manufacturing, and industrial robotics [13]

Core Insights - Shenzhen Ruiling Industrial Group Co., Ltd. reported a decline in revenue and net profit for the first half of 2025, with revenue at 477 million and net profit at approximately 49.77 million, representing year-on-year decreases of 13.44% and 12.63% respectively [1] Financial Performance - The company's revenue for the first half of the year was 477 million, down 13.44% year-on-year [1] - Net profit attributable to shareholders was approximately 49.77 million, a decrease of 12.63% compared to the previous year [1] - Revenue from the inverter welding and cutting equipment series decreased by 5.72% year-on-year [1] - Revenue from welding accessories dropped by 19.57% year-on-year [1] - Revenue from precision sheet metal and structural components decreased by 11.37% year-on-year [1] Business Focus and Innovation - The company is committed to innovation-driven development, focusing on three main directions: "intelligent, efficient, and green" [1] - Significant progress has been made in technology breakthroughs to support product upgrades [1] - The self-developed "Tiangong" 3.0 chip has been adapted for multiple products, enhancing welding performance and ease of operation [1] - The "Tiangong" 4.0 chip is currently undergoing testing [1] - The application of silicon carbide field-effect transistors in arc welding products has improved power density and response speed while reducing energy consumption [1]