According to the CITIC Securities Research Report on November 3, ultrasonic testing is the most widely used and in-depth non-destructive testing method in traditional industries. At the same time, the upgrading of China's industrial structure in recent years has also brought new demand for more precise ultrasonic testing. The ultrasonic testing equipment industry has high technical barriers, and the core value links of its industry chain focus on core components such as ultrasonic transducers and ultrasonic generators. Overall, at present, the main share of domestic core components and high-end testing equipment manufacturing is still occupied by overseas manufacturers. Domestic manufacturers are in a stage of rapid development of “catching up with standards”, and a number of excellent enterprises with potential for domestic substitution have emerged. The company is optimistic about the long-term development of China's ultrasonic testing industry. It covered it for the first time and gave it a “strong in the market” rating.