证券代码：301468 证券简称：博盈特焊 编号：2026-005 广东博盈特焊技术股份有限公司投资者关系活动记录表 | ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | ☑ | 线上调研 | | 参与单位名称及 | 德邦基金 | | 人员姓名 | 舜沂投资 | | 时间 2026 | 年 月 日 1 9 | | 地点 | 腾讯会议 | | 上市公司接待人 | 刘一宁 1、董事、副总经理、董事会秘书 | | 员姓名 | 2、投资者关系管理专员 谭静怡 一、董事会秘书刘一宁先生简单介绍公司情况 | | | 公司业务呈现出四个向好的态势：一是海外市场拓展成效显 著，二是 业务增长迅速，三是油气复合管业务蓄势待发， HRSG | | | 四是公司为投资者创造长期价值的信心十足。 | | | 公司原来主营的垃圾焚烧领域，海外市场需求广泛，下游转 | | | 型升级、发展中国家的政策推动促使渗透率提升；燃煤发电行业 | | | 示范效应开始显现，存在广阔的发展空间；化工 ...

Group 1: Company Performance and Market Expansion - The company has shown significant improvement in four areas: overseas market expansion, rapid business growth, potential in the oil and gas composite pipe industry, and strong confidence in creating long-term value for investors [1] - The overseas market demand for waste incineration is broad, driven by downstream transformation and policy support in developing countries, leading to increased penetration rates [1] - The new production base in Vietnam has begun to establish capacity and is entering the ramp-up phase, while the construction of the Daya production base is progressing orderly and is expected to be operational this year [1][2] Group 2: Financial Performance and Shareholder Returns - The company has distributed approximately CNY 100 million in dividends since its listing, enhancing shareholder satisfaction [2] - A share repurchase plan of CNY 400 million is set to be implemented, with all repurchased shares to be canceled, further stabilizing and enhancing the company's investment value [2] - The company emphasizes continuous optimization of profit distribution mechanisms to share development dividends with investors through dividends and buybacks [2] Group 3: Production Capacity and Order Progress - The Vietnam production base has eight HRSG production lines under construction, with four expected to be operational in Q2 and the remaining four in Q4 of this year [2] - The company has received orders for HRSG products, with the production cycle approximately six months, and the first batch of orders is set to enter production soon [2] - The Daya base is planned to have two HRSG production lines, expected to be operational in 2026, primarily serving non-North American market demands [3] Group 4: Market Demand and Pricing Strategy - The demand for HRSG is increasing alongside the rising need for gas turbines driven by the rapid expansion of AI data centers in North America [3] - The pricing of HRSG products is determined by material costs, labor, and other expenses, with recent orders reflecting price increases compared to earlier contracts [3] - The company has obtained ASME certification and is progressing through the necessary production system certifications to enter the North American market [3]

（文章来源：证券日报） 证券日报网讯 1月7日，博盈特焊在互动平台回答投资者提问时表示，越南生产基地一期4条HRSG已投 产，目前处于满产状态。越南生产基地二期建设与扩建计划在稳步推进中，二期生产基地预计将于今年 第二季度投产。如该事项有最新进展，公司将根据法律法规及时披露。 ...

Group 1: Company Overview and Market Position - The company has shown significant growth in overseas markets, particularly in the waste incineration sector, driven by demand in developing countries and policy support [1] - The company has established a new production base in Vietnam, which is expected to enhance production capacity and support market expansion [1] - The company has a strong competitive edge due to its technology barriers and brand advantages, with three production bases globally [2] Group 2: Financial Performance and Shareholder Returns - The company has distributed approximately 100 million RMB in dividends since its listing, enhancing shareholder satisfaction [2] - From October 2024 to October 2025, the company plans to repurchase shares worth over 40 million RMB, which will be fully canceled to stabilize and enhance investment value [2] Group 3: Production Capacity and Market Strategy - The company plans to build 12 HRSG production lines in Vietnam, targeting the North American market, where demand is currently outstripping supply [3] - Each of the three production bases has an annual planned capacity of approximately 600 million RMB, with actual output dependent on various operational factors [4][5] - The company primarily relies on business negotiations to acquire overseas clients, leveraging its strong technical foundation and product quality [6] Group 4: Cost Management and Logistics - The pricing of HRSG products is structured to remain unaffected by rising raw material costs, as it is based on a defined profit margin [7] - Transportation costs for HRSG products from the Vietnam base are borne by the customers under the FOB (Free On Board) trade model [7]

Core Viewpoint - The company has successfully launched four HRSG production lines at its Vietnam facility, which are currently operating at full capacity, and is progressing with the expansion of the remaining eight production lines to meet increasing customer demand [1] Group 1: Production and Expansion - The first phase of the Vietnam production base, consisting of four HRSG lines, is now in full production [1] - The company is steadily advancing the expansion plan for the remaining eight production lines [1] - New production lines are being constructed to accelerate response to customer demand [1] Group 2: Customer Engagement and Orders - The company has received production system certifications from some customers and has secured corresponding orders [1] - The audit processes for some potential customers have been completed, and the company is moving into the order negotiation phase [1] - The company will disclose any relevant information in accordance with legal disclosure requirements if certain conditions are met [1]

公历新的一年来临前夕，不少机构马不停蹄地进行调研，寻找新一年A股市场投资机会。就在刚刚过去的2025年12月，合计逾600家A股 上市公司接受了机构调研。 值得注意的是，这里面，有超过100家公司2025年股价翻倍。 2025年12月机构调研逾600家A股上市公司 数据显示，刚刚过去的2025年12月，机构调研活动保持了较高的热度，合计逾600家A股上市公司接受了调研。 从调研次数上看，据Wind统计口径，机构2025年12月调研博盈特焊次数居前，全月累计调研次数合计超过10次，参与调研的机构涉及公募 基金、私募基金、券商、保险公司等多种不同类型的机构，调研形式包括现场参观、线上调研等。 比如2025年12月24日，博盈特焊以特定对象调研及现场参观形式接受了多家机构调研，在调研交流中，公司方面对投资者提出的一些问题 进行了回复。比如，对于国内HRSG产能布局问题，博盈特焊方面回复表示，公司在大凹基地布局2条HRSG生产线，预计会在2026年投产。 大凹基地生产的HRSG产品主要满足非北美市场的HRSG市场需求。 2025年12月，杰瑞股份股价亦走势强劲，当月累计上涨超过两成。 欧科亿2025年12月也多次接受 ...

格隆汇12月30日丨博盈特焊(301468.SZ)在互动平台表示，公司产品暂未应用于纯氢燃气轮机。公司生 产的HRSG作为燃气-蒸汽联合循环系统中的通用关键设备，其技术可以服务于以氢气为燃料的新型燃气 轮机系统。公司已具备为国际主流燃气轮机厂商配套生产HRSG装置的资质和能力。公司始终关注下游 行业的技术进步，并将积极研究相关技术发展和市场需求。 ...

博盈特焊12月30日在互动平台表示，公司产品暂未应用于纯氢燃气轮机。公司生产的HRSG作为燃气-蒸 汽联合循环系统中的通用关键设备，其技术可以服务于以氢气为燃料的新型燃气轮机系统。公司已具备 为国际主流燃气轮机厂商配套生产HRSG装置的资质和能力。公司始终关注下游行业的技术进步，并将 积极研究相关技术发展和市场需求。后续如涉及氢能等新应用领域的重大业务进展，公司将根相关规则 及时履行信息披露义务。 ...

谷歌为什么要收购Intersect ？ 1、按照谷歌自己的说法，此次收购旨在加速谷歌数据中心容量扩张、能源开发与创新，特别是支持谷歌云和AI需求增长。同时，推动先进能源技术商 业化（如先进地热、长时储能、带碳捕获的天然气发电），利用AI优化电网连接，并提升能源效率，而不将成本转嫁给电网用户。 2、这是美国的CSP们都面临的一个问题，AI数据中心的电力需求预计到2026年将翻倍，而美国电网面临35吉瓦的电力缺口。收购Intersect允许谷歌控制 能源供应链，确保稳定供电和成本控制，而不是依赖第三方公用事业公司。这被视为AI竞争力的关键， 因为电力已成为稀缺资源，而非GPU芯片。 3、美国的政策原因：特朗普政府（包括川普、能源部长Chris Wright和商务部长Howard Lutnick等）多次公开鼓励、推动和政策支持 hyperscalers为数据 中心自建或共址发电设施（如天然气、核能或微电网），以避免过度依赖老化电网、防止电价上涨转嫁给普通居民，并加速AI基础设施建设。 4、其他CSP们在电力合作上的行动： 亚马逊通过核能主导其数据中心电力策略，与Talen Energy签署长期电力购买协议（PPA） ...

证券日报网12月22日讯博盈特焊（301468）在12月22日回答调研者提问时表示，作为燃气轮机的核心换 热设备，HRSG能够高效回收燃气轮机排放的高温废气，同时产生蒸汽，驱动二次发电，提升电厂的发 电效率，成为满足美国市场电力需求的可靠技术选择。 ...