Group 1 - The core point of the article is that Dongfang Electric (01072) has successfully exported its self-developed F-class heavy-duty gas turbine G50, marking China's first complete gas turbine export and entry into the international mainstream energy equipment market [1] - Dongfang Electric's stock price increased by 7.39% to HKD 23.54, with a trading volume of HKD 171 million [1] - The company has secured a core equipment order for a 50 MW combined cycle power project in Kazakhstan's Zhambyl region, indicating strong demand for gas turbines in emerging markets [1] Group 2 - Tianfeng Securities reports that the G50 gas turbine will officially enter commercial operation in 2023, with the first export to Central Asia expected in 2025 [1] - The company is also developing a 200 MW G200 gas turbine, a 15 MW G15 gas turbine for low power applications, and the first domestically produced high-power 80 MW G80 gas turbine [1] - The global market for small and medium-sized heavy-duty gas turbines is entering a new growth phase due to the replacement cycle of old turbines in Europe and the US, and the urgent demand for flexible peak-shaving power sources in the Middle East and Central Asia [1]

Core Viewpoint - Dongfang Electric (600875) has successfully entered the international mainstream energy equipment market by exporting its self-developed F-class heavy-duty gas turbine G50 to Kazakhstan, marking the first complete machine export of Chinese heavy-duty gas turbines [1] Company Summary - Dongfang Electric's stock rose by 7.39% to HKD 23.54, with a trading volume of HKD 171 million [1] - The company has secured a core equipment order for a 50 MW combined cycle power generation project in Zhambyl, Kazakhstan, which is a significant milestone for Chinese heavy-duty gas turbines [1] - The F-class 50 MW heavy-duty gas turbine (G50) is expected to commence commercial operation in 2023, with the first export to Central Asia planned for 2025 [1] Industry Summary - The global market for medium and heavy-duty gas turbines is entering a new growth phase due to the replacement cycle of aging gas turbines in Europe and the U.S., accelerated natural gas power generation in the Middle East and Central Asia, and the urgent demand for flexible peak-shaving power sources in emerging markets [1] - Tianfeng Securities anticipates that Dongfang Electric's self-developed G50 and other gas turbine products will effectively provide incremental supply and accelerate the company's overseas expansion in the gas turbine market, especially given the expected supply-demand gap in gas turbines over the next 26-35 years [1]