SNS(SZ:300470)2024-07-08 10:51Group 1: Company Capabilities - The company has over 40 years of development, achieving first-class technical level in the domestic industry, fully capable of replacing other suppliers in the existing market [1] - The likelihood of end customers switching suppliers for sealing products is low, as long as the products operate stably without major issues [1] Group 2: Order Distribution - The company's international orders are primarily concentrated in the petrochemical sector, with domestic orders also mainly from petrochemicals, and some from papermaking, water treatment, and new energy [1] Group 3: International Expansion - The company has established formal overseas service centers to cover international orders, with plans to build more overseas sites, although costs and complexities are higher than domestic [2] - The company has recently completed the first step of acquiring KS GmbH, gaining actual control, which will enhance collaboration and help expand into the European market [2]