XZCE(002534)2025-02-13 08:08Company Overview - Founded in 1955, joined Xizi Elevator Group in 2002, and listed on the Shenzhen Stock Exchange in 2011, renamed to Xizi Clean Energy Equipment Manufacturing Co., Ltd. [2] - Main business includes waste heat boilers, clean environmental energy generation equipment, and overall solutions for energy utilization [2][3] Business Segments - The company operates in four main segments: - Waste heat boilers (e.g., gas turbine waste heat boilers, dry quenching waste heat boilers) [2] - Clean environmental energy equipment (e.g., waste incineration boilers, biomass boilers) [2] - Solutions (e.g., molten salt energy storage, heat exchangers) [3] - Spare parts and services (e.g., technical services, project renovation) [3] Project Highlights - The "Steam Extraction Energy Storage" molten salt peak-shaving technology demonstration project for the 600MW coal-fired unit in Hebei began trial operation on December 28, 2024 [4] - Enhances deep adjustment capability, allowing load reduction to 51 MW (8.5% Pe) for at least 4 hours [4] - Increases peak capacity by 47 MW for at least 6 hours [4] - Internal heat exchange efficiency of the molten salt storage system is no less than 98% [4] Order Situation - In 2024, the company achieved new orders totaling CNY 5.852 billion, with breakdowns as follows: - Waste heat boilers: CNY 1.684 billion [5] - Clean environmental energy equipment: CNY 0.901 billion [5] - Solutions: CNY 2.668 billion [5] - Spare parts and services: CNY 0.599 billion [5] - Total orders on hand by the end of 2024 amounted to CNY 6.157 billion [5] Strategic Development Directions - Focus on three main strategic directions: - Expanding into overseas markets, particularly for gas turbine waste heat boilers [6] - Developing the renewable energy market, leveraging molten salt storage technology for various applications [7] - Targeting the spare parts and renovation market in response to national equipment upgrade policies [7] Product Delivery Cycle - Boiler products are customized, with domestic delivery cycles typically ranging from 6 to 12 months, while overseas projects may take longer [8] Investment Progress - In November 2024, the 100MW perovskite large-area component production line was officially launched, marking a significant step for the company in the photovoltaic sector [9] Share Buyback Update - As of January 31, 2025, the company repurchased 1,487,100 shares, accounting for 0.20% of the total share capital, with a total transaction amount of CNY 17,669,964.20 [10] Competitors - The company holds a leading position in the waste heat boiler sector, competing with major domestic boiler manufacturers such as Huaguang Huaneng, Hailu Heavy Industry, and Huaxi Energy [11]