Deepening Focus on the Steam Turbine Sector, Anchoring in Dual-Carbon Opportunities—Luoyang Hanfei Power Charts a New Industry Course for 2025-2030

As a core equipment in the power machinery sector, the steam turbine industry is entering a critical period of structural upgrading and value reshaping. From 2025 to 2030, driven by the deepening of the "dual-carbon" strategy, the transformation of the energy structure, and the accelerated localization of high-end manufacturing, China's steam turbine industry is advancing toward a new stage of high efficiency, intelligence, and green development. Luoyang Hanfei Power Technology Co., Ltd. (hereinafter referred to as "Luoyang Hanfei Power") leverages the innovative advantages of small and medium-sized enterprises, closely follows the pulse of industry development, and focuses on technological depth, product iteration, and market expansion. The company is actively positioning itself in new industry segments for the next five years, contributing to the high-quality development of China's steam turbine industry.

After years of development, China's steam turbine industry has established a complete industrial chain and a diverse competitive landscape. Globally, the industry exhibits high technological maturity, with leading enterprises from countries such as Germany and the United States maintaining a long-standing technological edge. Domestically, the implementation of the "14th Five-Year Plan" and the advancement of the "dual-carbon" goals have ushered in new development opportunities. On the policy front, guidelines for building a new power system explicitly promote the transformation of thermal power units toward flexibility and low-carbon operation, providing policy support for the technological upgrading of steam turbines. Market-wise, sustained demand from industries such as industrial power, thermal power, nuclear power, and new energy is expected to drive the domestic steam turbine market to exceed 800 billion RMB by 2030, with a compound annual growth rate of 12%. Technologically, breakthroughs in core areas such as ultra-supercritical systems, intelligent control, and advanced high-temperature materials are propelling the industry's shift from "scale expansion" to "value enhancement."

With years of industry expertise, Luoyang Hanfei Power has accurately grasped industry development trends, focusing on the R&D, manufacturing, and servicing of small and medium-sized steam turbines and auxiliary equipment, thereby forming a differentiated competitive advantage. Established in 2019 and located in the Luoyang Xin'an Economic and Technological Development Zone, the company leverages Luoyang's industrial foundation and equipment manufacturing heritage. It specializes in the R&D and production of small and medium-sized steam turbines, including condensing, back-pressure, and extraction condensing types, widely serving sectors such as industrial waste heat recovery, small to medium-sized thermal power, and new energy integration. Guided by the philosophy of "small yet refined, specialized yet strong," the company has built comprehensive capabilities spanning design and R&D, precision manufacturing, installation and commissioning, and operation and maintenance services. Its products are tailored to meet the energy-saving and consumption-reduction needs of diverse scenarios, helping downstream clients lower energy consumption and enhance operational efficiency.

In response to industry trends from 2025 to 2030, Luoyang Hanfei Power has defined three core strategic directions to align its growth with industry dynamics. In technological innovation, the company is intensifying R&D efforts in flow optimization, intelligent control systems, and energy-saving retrofitting technologies, emphasizing breakthroughs in key areas such as high-efficiency design and intelligent operation monitoring for small and medium-sized steam turbines. This aims to enhance product thermal efficiency and operational stability, aligning with the energy-saving and carbon-reduction requirements under the "dual-carbon" strategy. Simultaneously, the company is advancing the domestic application of specialty materials to reduce production costs and improve product cost-effectiveness. In product portfolio development, the focus is on niche segments, enriching the product lineup with customized small and medium-sized steam turbines tailored for distributed energy, industrial waste heat recovery, and new energy integration. This addresses the supply gap left by larger enterprises in specialized scenarios and customized demand, catering to a diverse market. In market expansion, the company adheres to a dual-cycle strategy, domestically and internationally. Domestically, it deepens its presence in industries, small to medium-sized thermal power, and new energy sectors, strengthening collaboration within regional industrial clusters. Internationally, it seizes opportunities under the "Belt and Road" initiative, exploring emerging markets such as Southeast Asia, promoting the export of small and medium-sized steam turbines, and expanding its global market share.

Currently, the competitive landscape of China's steam turbine industry is becoming increasingly diverse, with rising industry concentration. Leading enterprises consolidate their market position through technological and scale advantages, while small and medium-sized enterprises must differentiate themselves through innovation. The next five years represent a critical period for industry transformation and upgrading, as well as a golden opportunity for the growth of small and medium-sized enterprises. The company remains committed to the philosophy of "technology as the foundation, customer as the center," avoiding direct competition with industry giants, and instead focusing on niche segments of small and medium-sized steam turbines. It aims to solidify its core competitiveness through technological innovation and gain market recognition with high-quality products and services.

From a long-term industry perspective, the period from 2025 to 2030 presents both challenges and opportunities. As the "dual-carbon" strategy progresses, the energy structure accelerates optimization, and policy support for high-end manufacturing intensifies, the steam turbine industry will continue transitioning toward green, low-carbon, intelligent, and high-efficiency development. Luoyang Hanfei Power will keep pace with industry advancements, dedicating itself to meticulous and steady progress. By empowering industrial upgrading through innovation and fulfilling corporate responsibilities with pragmatic actions, the company strives to achieve leapfrog development in this new industry cycle, contributing "Hanfei Power" to the high-quality advancement of China's steam turbine industry.