CHANGLAN TECH.(SZ:002879)2025-05-15 10:04Group 1: Company Performance and Strategy - The company adheres to an "innovation-driven development strategy," focusing on continuous technological breakthroughs to promote high-quality growth [2] - Significant investments in R&D have been made, particularly in advanced materials, product molding processes, high voltage products, and smart cable accessories [2] - A joint research center with Xi'an Jiaotong University has been established to enhance R&D capabilities and foster talent development [2] Group 2: Product and Market Advantages - Double River Energy has established advantages in the natural ester insulating oil sector, characterized by high flash and fire points, biodegradability, and strong overload capacity [3] - Natural ester insulating oil has been successfully applied in major projects, including the world's first natural ester transformer and a 110kV offshore photovoltaic project [3] - The company plans to accelerate the development and market expansion of natural and synthetic ester insulating oils in response to global energy transition demands [3] Group 3: Industry Competition Landscape - The cable accessory industry exhibits a "pyramid" structure, with intense competition in the low and medium voltage markets due to low technical barriers [3] - In the high voltage cable accessory sector, higher technical barriers lead to increased industry concentration, with key competitors including Longyuan Group, Hancable, and foreign firms like Sumitomo and Prysmian [3] - The company is among the few globally capable of independently developing and producing ultra-high voltage cable accessories, achieving a technical level comparable to leading international firms [3] Group 4: R&D Progress - In 2024, the company collaborated with China Three Gorges Construction Group and China Electric Power Research Institute to develop innovative 750kV cable accessories, achieving national-level product certification [3] - This technological breakthrough fills a domestic gap and signifies that the company has reached an internationally leading level in ultra-high voltage cable accessory technology [3]