BOW(SZ:300070)2025-12-26 09:08Group 1: Company Overview and Strategy - Beijing Beishuiyuan Technology Co., Ltd. is a leading enterprise in the environmental high-tech sector, focusing on water treatment with a comprehensive industrial chain layout that includes membrane material R&D, manufacturing, and digital water management [2]. - The company is currently in a critical transformation phase towards a strategy termed "12256," emphasizing high innovation, intelligence, and environmental sustainability while balancing quality and efficiency [2]. - Traditional business remains stable, while new business areas such as wastewater resource utilization and high-quality drinking water are showing progress [2]. Group 2: Key Projects and Developments - In industrial water treatment, the company has secured multiple key projects, including the Liaoning Lighthouse Economic Development Zone industrial wastewater treatment project and the Liao Yuan High-tech Zone industrial wastewater plant [3]. - The company has achieved a desalination rate of 99.8% with its "UF-RO" dual membrane integration technology, and its annual production capacity for ultra-pure reverse osmosis membranes has reached 1 million square meters, with a maximum capacity of 3 to 7 million square meters [3]. - The Bohai New Area integrated seawater utilization project has a total investment exceeding 100 million yuan, integrating water intake, pretreatment, seawater desalination, and photovoltaic energy storage systems [3]. Group 3: Emerging Business Areas - The company has made significant advancements in lithium extraction from salt lakes, with projects like the 20,000 tons/year lithium hydroxide project using a titanium-based adsorbent and membrane system [3]. - The pharmaceutical membrane business was officially launched in 2023, focusing on protein separation and virus removal, with a professional team of over 30 members [3]. - Current revenue from the pharmaceutical membrane segment is still small, but the company plans to expand its market presence through continuous technological iterations and promotions [3]. Group 4: Technological Innovations and Market Competitiveness - The company has made key breakthroughs in membrane technology iterations and domestic replacements, including the fifth generation of MBR membrane modules and energy-saving membrane bioreactor technology [4]. - The production speed of conventional reverse osmosis membranes has increased to 20 meters per minute due to intelligent upgrades in production lines [4]. - The company has successfully replaced imported products with domestically produced ultra-pure water reverse osmosis membranes, enhancing its market share and profitability [4]. Group 5: Accounts Receivable Management - The company is actively addressing accounts receivable pressures through various measures, including tailored loss reduction plans for different projects and establishing a specialized collection team [4]. - Recent efforts have shown gradual success in recovering long-term accounts receivable, with ongoing strategies to optimize collection processes and enhance internal controls [4].