SNS(SZ:300470)2023-03-14 17:38Group 1: Sealing Product Replacement Cycles - The replacement cycle for pump mechanical seals is approximately 1-2 years [1] - The replacement cycle for dry gas seals is generally 1-3 years, influenced by operational conditions [1] - The replacement cycle for nuclear main pump seals is about 18 months, with a recommendation to replace after two fuel cycles [1] Group 2: Impact of Operating Conditions on Seal Lifespan - Mechanical seals are designed for optimal performance under rated operating conditions; insufficient feed can reduce seal lifespan [2] - The lifespan of seals can be compromised if not operated under optimal conditions, leading to premature wear [2] Group 3: Market and Business Growth - The company's overseas market revenue primarily comes from incremental business in the international petrochemical sector [2] - The conversion rate from incremental to stock business is approximately 25%, with a potential annual contribution of 25 million yuan from a 100 million yuan order [3] - The actual conversion rate of incremental business to stock business is around 90%, typically occurring within 1-2 years after revenue recognition [3]