SUNWAY(SZ:002469)2022-12-08 01:14Group 1: Company Overview - Shandong Sanwei Petrochemical Engineering Co., Ltd. is involved in the production of marine desulfurization equipment, established in June 2013 [2][3] - The company is the first in Asia and globally to manufacture marine desulfurization equipment using magnesium-based seawater methods [2][3] Group 2: Regulatory Environment - The International Maritime Organization (IMO) has set increasingly stringent sulfur oxide emission standards, reducing the limit from 1% to 0.1% in designated areas since 2015 [3][4] - In China, ships at ports emitted approximately 8.4% of the national sulfur dioxide emissions in 2013, with nitrogen oxide emissions accounting for 11.3% [4][5] Group 3: Market Demand and Growth - The global market for marine exhaust gas desulfurization equipment is estimated to be around 800 billion RMB, with an annual demand increase of over 50 billion RMB [7][8] - The Chinese shipping industry has over 176,900 vessels, indicating a significant market potential for desulfurization equipment [8] Group 4: Competitive Advantages - Sanwei's desulfurization equipment is smaller in size compared to international competitors, facilitating installation on both new and retrofitted ships [9] - The equipment meets the IMO's sulfur content requirement of 0.1%, and its operational costs are significantly lower than those of similar products from international competitors [9] Group 5: Strategic Development - The company is focusing on environmental protection as a core business strategy, aiming to expand its operations into new materials and e-commerce platforms to enhance profitability and risk resilience [10]