According to the CITIC Securities Research Report, we have sorted out the current gas engine orders and production capacity situation based on recent financial statements from global “two-engine” OEMs and domestic supporting suppliers. According to our estimates, it is expected that the global supply and demand for combustion engines will gradually balance by 2028. In the new expansion cycle of major OEMs in the future, China's supply chain will fully and continuously benefit from the boom in downstream orders and deliveries.

According to the CITIC Securities Research Report, we have sorted out the current gas engine orders and production capacity situation based on recent financial statements from global “two-engine” OEMs and domestic supporting suppliers. According to our estimates, it is expected that the global supply and demand for combustion engines will gradually balance by 2028. In the new expansion cycle of major OEMs in the future, China's supply chain will fully and continuously benefit from the boom in downstream orders and deliveries.