Group 1: Company Overview - Xizi Clean Energy Equipment Manufacturing Co., Ltd. was established in 1955 and listed on the Shenzhen Stock Exchange in 2011, focusing on waste heat boilers and clean energy equipment [3][4] - The company operates four main business segments: waste heat boilers, clean energy equipment, solutions, and spare parts & services [3][4] Group 2: Key Projects and Innovations - The company participated in the first "steam extraction and storage" molten salt energy storage project in China, which enhances load flexibility and can reduce the load to 51 MW (8.5% of Pe) for at least 4 hours [5] - The molten salt storage system achieves an internal heat exchange efficiency of no less than 98% and an electrical conversion efficiency of no less than 70% [5] Group 3: Market Opportunities - Future growth areas include the renewable energy market, nuclear power market, and international markets, leveraging molten salt storage technology and expanding into overseas markets [7][8][9] - The company aims to capture opportunities in the nuclear power sector by upgrading its manufacturing capabilities and establishing a joint venture for nuclear technology [10] Group 4: Competitive Advantages - The company has been involved in 17 solar thermal power demonstration projects since 2010, establishing a strong market presence and technical advantage [12] - The Qinghai Delingha 50 MW solar thermal project is recognized as a benchmark for solar thermal power generation, achieving a record annual output of 146.4 million kWh in 2022 [12] Group 5: Policy and Strategic Initiatives - Recent government policies encourage the development of green electricity projects and zero-carbon parks, which align with the company's initiatives in energy solutions [13] - The company has established China's first zero-carbon factory and is exploring market opportunities under the green electricity direct connection mechanism [13]

Company Overview - Founded in 1955, joined Xizi Elevator Group in 2002, and listed on the Shenzhen Stock Exchange in 2011 as Xizi Clean Energy Equipment Manufacturing Co., Ltd. [2] - Main business includes waste heat boilers, clean energy power generation equipment, and comprehensive solutions for energy utilization [2][3] Business Segments - Four main business areas: - Waste heat boilers (including gas turbine waste heat boilers, dry quenching waste heat boilers, etc.) [2] - Clean energy equipment (including waste incineration boilers, biomass boilers, etc.) [3] - Solutions (including molten salt energy storage, heat exchangers, etc.) [3] - Spare parts and services (including technical services and project renovation) [3] Key Projects - The "Steam Extraction Energy Storage" molten salt thermal peak-shaving technology demonstration project at Guoneng Hebei Longshan 600MW thermal power unit began trial operation on December 28, 2024 [4] - Performance indicators include: - Load reduction capability down to 51 MW (8.5% Pe) for at least 4 hours [4] - Peak output increase of 47 MW for at least 6 hours [4] - Internal heat exchange efficiency of the molten salt system not less than 98% [4] - Frequency modulation capability improved by 1.5 times [4] Strategic Development Directions - Three main strategic directions: - Overseas market expansion, particularly in Southeast Asia, South America, Africa, and Belt and Road countries [5][7] - New energy market, focusing on molten salt energy storage applications [5][6] - Spare parts and renovation market, leveraging government policies for equipment upgrades [6] Order and Financial Performance - In Q1 2025, the company secured new orders totaling 1.57 billion CNY, with breakdowns as follows: - Waste heat boilers: 491 million CNY - Clean energy equipment: 105 million CNY - Solutions: 844 million CNY - Spare parts and services: 130 million CNY [8] - As of March 31, 2025, total orders on hand reached 6.527 billion CNY [8] Competitive Position - Leading position in the waste heat boiler sector, competing with major domestic boiler manufacturers [9] - The company is recognized as one of the largest and most comprehensive research, development, design, and manufacturing bases for waste heat boilers in China [11] Recent Financial Results - In 2024, the company reported a net profit of 440 million CNY, a year-on-year increase of 705.74% [10] - In Q1 2025, revenue reached 1.213 billion CNY, a 5.32% increase year-on-year, with a net profit of 47 million CNY, up 217.11% [10]