Group 1: Report Basic Information - The research object is Lanshi Heavy Equipment, belonging to the special equipment industry. The reception time was July 9, 2025, and the listed company's reception staff included Chairman Guo Fuyong, Board Secretary Wu Ruirui, and Securities Affairs Representative Zhou Huailian [17] - The participating research institutions are Jiaoyin Fund and Zheshang Securities [18] Group 2: Company Business Overview - The company's business segments cover four major areas: energy equipment manufacturing, technical services, project general contracting, and new metal materials. In 2024, the company achieved an operating income of 5.791 billion yuan, a year-on-year increase of 12.18%; the net profit attributable to shareholders of the listed company was 156 million yuan, a year-on-year increase of 1.59%. In the first quarter of 2025, the company achieved an operating income of 1.412 billion yuan, a year-on-year increase of 52.30%, and the net profit attributable to shareholders of the listed company was 14.5456 million yuan, a year-on-year decrease of 56.08% [22] Group 3: International Market Expansion - The company is transforming from the domestic market to a domestic - international integrated market. In 2024, it achieved new international market orders of 411 million yuan, a year-on-year increase of 41.09%. This year, it signed a contract for a 10 Nm³/h PEM water electrolysis hydrogen production equipment project with a Saudi company, marking a breakthrough in the international market for hydrogen energy equipment [22][23] Group 4: Nuclear Energy Industry Layout - The company has formed an advantageous layout of "one center and three bases" for nuclear energy equipment, covering the entire nuclear energy equipment industry chain. In 2024, the company's nuclear energy market achieved positive results, with new orders of 677 million yuan, a year-on-year increase of 31.05% [24] Group 5: Hydrogen Energy Field Products - The company has products in the "production, storage, transportation, and utilization (refueling)" segments of the hydrogen energy industry, such as PEM water electrolysis hydrogen production devices, alkaline water electrolysis hydrogen production devices, etc. It is one of the few domestic enterprises to develop 98 Mpa high - pressure gaseous hydrogen storage containers [24] Group 6: Biomass Carbonization and Gasification Solution - The company can provide a "biomass (garbage) carbonization and gasification to produce green hydrogen and green alcohol overall solution," with technologies for low - temperature carbonization of biomass and carbon powder pressurized gasification, and the main device can handle 50 - 500 tons of biomass per day [25] Group 7: CCUS Field Projects - The company has undertaken key projects in the CCUS field, such as the tower and auxiliary equipment of the carbon capture project of Huaneng Clean Energy Research Institute and 8 key equipment manufacturing orders for the carbon capture project of Xinjiang Oilfield [26]