江苏神通(002438) - 2023年11月28日调研活动附件之投资者调研会议记录

Group 1: Company Overview and Strategy - The meeting was hosted by the Vice President and Secretary of the Board, emphasizing compliance with disclosure regulations and introducing the company's basic situation and strategic planning [1] Group 2: Business Model and Project Status - Ruifang Energy operates on a model focused on the recovery and utilization of gas from steel enterprises, sharing benefits with them over a period of 5 to 8 years [2] - Current projects include the Handan Longshan Steel gas power generation project and the Tianxi 135MW ultra-supercritical gas power generation project, with the latter already operational and sharing benefits since October [3] Group 3: Nuclear Power Orders and Market Position - The company is a major supplier of nuclear-grade valves, with an order value of approximately 70 million for each nuclear power unit [4] - The company has a 90% bid success rate for nuclear-grade valves over the past decade, with over 150,000 valves in operation [6] Group 4: Export Business and International Expansion - The company's export business is primarily indirect, through domestic large engineering contractors, with plans to expand international operations [5] Group 5: Competitive Advantages - The company holds over 70% market share in special valves for the metallurgy industry and has a significant presence in the energy and petrochemical sectors, with a market demand exceeding 30 billion [7] - The company has a strong competitive edge in product quality, performance, and brand reputation, aiming to maintain and enhance its market position [7] Group 6: Future Market Outlook - The energy and chemical sectors are expected to see continued growth, driven by multiple large refining projects currently under development [8]