Company Overview - Inner Mongolia Nashun Equipment Engineering (Group) Co., Ltd. is a large private enterprise focusing on equipment manufacturing and engineering services, integrating industrial technology research and development, industrial equipment manufacturing, and engineering contracting [3]. - The company emphasizes technological innovation and project management, aiming to create a customized service platform for industrial equipment and provide comprehensive lifecycle services for customers [3]. Qualifications - The company holds several qualifications, including: - Metallurgical industry metal smelting engineering design professional Class B - Construction electromechanical installation professional contracting (Class 2) - Metallurgical engineering construction general contracting (Class 2) - Fixed pressure vessels high-pressure vessels (A2) - Steel structure engineering professional contracting (Class 2) - High-tech enterprise [4]. Main Products - The company specializes in various types of furnaces, including: - Calcium carbide furnace with capacities ranging from 27,000 kVA to 81,000 kVA - Silicon iron furnace with capacities from 31,500 kVA to 72,000 kVA - Silicon manganese furnace with capacities from 39,000 kW to 66,000 kW - Chromium iron furnace with capacities from 33,000 kVA to 75,000 kVA - Nickel iron furnace with capacities from 33,000 kVA to 42,000 kVA - Industrial silicon furnace with capacities of 16,500 kVA to 36,000 kVA - Titanium slag furnace with capacities from 25,500 kVA to 36,000 kVA - Direct current furnace with capacities from 36,000 kVA to 60,000 kVA [5]. Project Experience - The company has notable project experience, including: - 1X57,000 kVA high carbon chromium direct current furnace at Fengzhen Huaxing - 2X45,000 kW silicon manganese direct current furnace at Chayouqianqi Xinchuan - 2X60,000 kW silicon manganese direct current furnace at Chayouzhongqi Qinyuan - 5X55,000 kVA silicon manganese direct current furnace at Shangdu Huatai [11]. Direct Current Furnace Advantages - The direct current furnace offers several advantages: - High power factor - Low smelting electricity consumption - Reduced electrode consumption - Less coke usage - Stable operation with minimal fluctuations - Easy operation and startup without current impact - Stable arc light and low furnace wall temperature - Low noise levels [8].

Group 1: Business Performance Overview - The material handling segment's revenue increased by approximately 56.1% in 2024 due to a rise in orders influenced by global supply chain adjustments [2][3] - The new energy equipment segment's revenue grew by about 35.4% in 2024, driven by significant fixed asset investments [4] - The metallurgy equipment segment's revenue saw a 10.7% increase in 2024, despite a slowdown in the steel industry [5] Group 2: Profitability Insights - The material handling segment's gross margin decreased by 5.3 percentage points in 2024, but the company aims to enhance profitability through smart product technologies [3] - The new energy equipment segment's gross margin fell by 4.3 percentage points in 2024 due to intense competition [4] - The metallurgy equipment segment's gross margin improved by 0.53 percentage points in 2024, supported by strong product competitiveness [5][6] Group 3: Order and Demand Trends - In Q1 2025, the company received new orders worth 5.14 billion yuan, marking an 11.02% year-on-year increase [6][7] - The material handling segment's new orders in Q1 2025 decreased by 22% year-on-year, while the new energy equipment segment saw a 17.4% increase [7] - The metallurgy equipment segment's new orders fell by 6.8% in Q1 2025 due to weak market demand [7][8] Group 4: Future Outlook - The company plans to increase casting production by over 20% in 2025, with a focus on market demand [8] - The wind power gearbox product shipments are expected to rise significantly in 2025, driven by policy support and market demand [8] - The engineering contracting segment's revenue is projected to improve through international market expansion, particularly in Southeast Asia and along the Belt and Road [6][8] Group 5: Cost Reduction and Efficiency Measures - The company is focusing on expanding operational scale and enhancing customer management to improve value creation [10][11] - Efforts are being made to implement lean management practices and integrate supply chain operations to reduce costs [11][12] - The company aims to achieve significant breakthroughs in core technologies and increase patent applications [11][12] Group 6: Corporate Governance and Reforms - The company is actively pursuing state-owned enterprise reforms and enhancing quality management initiatives [12][13] - A new lean operational management model has been established, leading to improved production efficiency [13][14] - Organizational restructuring is underway to optimize governance and align with market-oriented reforms [14]