SUPCON Technology (SH:688777)2026-02-28 02:35Summary of Conference Call on Zhongkong Technology Company Overview - Company: Zhongkong Technology - Industry: Continuous Process Industries (Petrochemical, Chemical, Power, Metallurgy) Key Points 1. Introduction of TPT Model: - TPT stands for Time-series Pre-trained Transformer, developed over three years by a team of hundreds at Zhongkong Technology. It is the first pre-trained AI model system designed specifically for continuous process industries, currently at version 2.0 [1][1]. 2. Competitive Edge of TPT Model: - High Barriers: - Data barrier: Training the TPT model requires extensive factory production data, including time-series data from tens of thousands to millions of sensors per factory [1][1]. - Application barrier: Safety in chemical production is paramount, deterring inexperienced vendors from entering the market [1][1]. - Market Position: - Compared to large language models, the competition is fierce, but Zhongkong's TPT model has established a strong position [2][2]. 3. Market Potential: - In China, there are 280,000 suitable process manufacturing units, each with a subscription price of 1 million per year, leading to a potential market size of 280 billion per year [2][2]. - The product has expanded beyond China, with international clients like Saudi Aramco, indicating a larger global market opportunity [3][3]. 4. Revenue Projections: - TPT model revenue exceeded 200 million in 2025. The company aims for 800-1,000 million in 2026, 1.5-2.5 billion in 2027, and 3-5 billion in 2028 [3][3]. - The revenue growth rate and scale are comparable to other large model companies [4][4]. 5. Core Business and Valuation: - Zhongkong Technology is not just an AI application company; it possesses core barriers and significant growth potential as a large model company. The traditional DCS business still generates a stable profit of 1.2 billion, while the large model segment has only received a valuation of 200-300 billion [5][5].