博盈特焊(301468) - 2025年11月12日投资者关系活动记录表

Group 1: Company Overview and Core Competencies - The company focuses on manufacturing anti-corrosion and anti-wear welding equipment, with a long-term commitment to special equipment manufacturing and expansion into industrial equipment and high-end structural components [1]. - Key competitive advantages include mastery of critical core technologies across materials, processes, and equipment, as well as comprehensive special equipment production qualifications [1][2]. - The management team has extensive industry experience, contributing to strong R&D capabilities and practical experience [2]. Group 2: Market Opportunities and Global Strategy - The company is strategically positioned in both domestic and international markets, maintaining a leading position in the domestic market while actively exploring overseas opportunities [2]. - The demand for waste incineration is increasing, driven by downstream upgrades and the need for resource recovery in various industrial sectors [2][4]. - The company has established a significant presence in the HRSG (Heat Recovery Steam Generator) market, with plans to expand production capacity in Vietnam to a total of 12 production lines, requiring an investment of approximately 6 million RMB for each additional line [3]. Group 3: Industry Trends and Future Outlook - The waste incineration market is experiencing a slowdown in new projects domestically, but there is substantial growth potential in overseas markets, particularly in Southeast Asia and Latin America, due to rapid urbanization [4]. - The coal-fired boiler sector remains crucial for China's power supply, with ongoing demand for upgrades and improvements in anti-corrosion and anti-wear performance [4]. - The market for metallurgical composite pipes is expanding due to increased oil and gas extraction in corrosive environments, with growing demand for advanced composite materials [5]. Group 4: Investor Inquiries and Responses - The pricing model for HRSG products from the Vietnam base is determined by material and labor costs, along with a set net profit margin [3]. - The company views the U.S. HRSG market as currently undersupplied, driven by structural growth in electricity demand and the transition to cleaner energy sources [3].