Core Viewpoint - The company is focusing on expanding its overseas orders for deep cold equipment, particularly in Southeast Asia and Africa, with a strategy to enhance its presence along the Belt and Road Initiative [1] Group 1: Market Distribution and Growth Strategy - The company's overseas orders for deep cold equipment are primarily concentrated in Southeast Asia and Africa, covering core applications such as LNG liquefaction, storage tanks, air separation oxygen, and hydrogen purification [1] - The company plans to leverage existing cooperation to deepen partnerships with local industrial enterprises in Belt and Road countries, promoting key products like LNG liquefaction complete sets, large air separation units, storage tanks, and vaporizers [1] Group 2: Product Customization and Service Network - The company aims to meet overseas customers' customized needs through its independent research and design capabilities [1] - There is a plan to gradually establish an overseas market service network, optimizing product international standard adaptability and logistics capabilities [1] Group 3: Brand Influence and Market Expansion - The company intends to enhance its international brand influence by collaborating with leading international enterprises, continuously broadening its overseas growth space [1]

Core Viewpoint - The company, Shudao Equipment, is focusing on expanding its overseas orders for cryogenic equipment, particularly in Southeast Asia and Africa, while leveraging its existing partnerships to enhance its market presence in Belt and Road Initiative countries [2] Group 1: Market Focus - The company's overseas orders for cryogenic equipment are primarily concentrated in Southeast Asia and Africa, covering key applications such as LNG liquefaction, storage tanks, air separation oxygen production, and hydrogen purification [2] - Future efforts will emphasize the development of markets in Belt and Road Initiative countries, aiming to deepen cooperation with local industrial enterprises [2] Group 2: Product Strategy - Shudao Equipment plans to promote its advantageous products, including complete LNG liquefaction systems, large air separation units, storage tanks, and vaporizers [2] - The company aims to meet the customized needs of overseas clients through its independent research and design capabilities [2] Group 3: Service and Brand Development - There is a strategy to gradually establish an overseas market service network to optimize product international standard adaptability and logistics support capabilities [2] - The company intends to enhance its brand's international influence by collaborating with leading international enterprises [2]

Core Viewpoint - The company is expanding its operations in the industrial gas sector by launching significant projects that enhance its service offerings and market position in the high-purity nitrogen and helium gas markets [2] Group 1: Industrial Gas Projects - The company has officially launched a nitrogen supply and operation management service project for Shuneng Minerals, which began production in January 2024. This project provides 8000 Nm³/h of high-purity nitrogen gas to the Mabei lithium iron phosphate plant, focusing on high-end applications in the new energy materials sector [2] - The company has also completed the Inner Mongolia Yahui BOG helium extraction project, which started production in October 2023. This project is currently the largest-scale high-purity helium extraction project from LNG flash gas in China, filling a technological gap in the domestic market [2] Group 2: Market Applications - Helium extracted from the new facility is primarily used in various fields, including military, scientific research, petrochemicals, refrigeration, medical (MRI), semiconductors, pipeline leak detection, superconducting experiments, metal manufacturing, deep-sea diving, high-precision welding, and optoelectronic product production [2]

Core Viewpoint - The company, Shudao Equipment, is focused on the research of gas low-temperature liquefaction and separation technology, specializing in natural gas liquefaction and air separation processes [1] Group 1: Business Focus - The main business of the company is to provide natural gas liquefaction and air separation process packages and treatment devices [1] - Key products include natural gas liquefaction devices, coke oven gas liquefaction devices, coalbed methane liquefaction devices, air separation devices, chemical tail gas and light hydrocarbon recovery devices, oxygen and nitrogen liquefaction devices, helium extraction devices, HYCO separation devices, electronic special gas devices, large low-temperature liquid storage tanks, and booster turbine expansion units [1] Group 2: Production Capabilities - The company has the design and manufacturing capability for LNG liquefaction devices with a daily processing capacity of 10 million cubic meters [1] - The design and manufacturing capability for liquid air separation devices reaches a daily output of 1,000 tons [1] - The design and manufacturing capability for gas air separation devices is at the level of 100,000 Nm3/h [1]

Group 1: Company Overview - The company introduced its development history, competitive advantages, and the layout of its "14th Five-Year Plan" business segments, focusing on strategic transformation and upgrades [2] - The company specializes in cryogenic equipment manufacturing, particularly in gas liquefaction and separation technologies, with main products including LNG liquefaction units and air separation devices [3] Group 2: Production Capabilities - The company has the design and manufacturing capacity for LNG liquefaction units handling 10 million cubic meters per day, with air separation units capable of producing 1,000 tons per day [3] - The design and manufacturing capacity for gas separation units is at 100,000 Nm³/h [3] Group 3: Market Expansion and Strategy - The company’s overseas orders for cryogenic equipment are primarily concentrated in Southeast Asia and Africa, covering core applications such as LNG liquefaction and hydrogen purification [3] - Future growth will focus on expanding into "Belt and Road" countries, enhancing cooperation with local industrial enterprises, and establishing an overseas service network [3] Group 4: Gas Operation Projects - The company has initiated an industrial gas project providing nitrogen supply equipment rental and operational management services, which began production in January 2024, focusing on high-purity nitrogen supply for lithium iron phosphate plants [3] - A helium extraction project from LNG, the largest of its kind in China, commenced in October 2023, targeting various high-tech applications [3] Group 5: Investor Communication - The company engaged in thorough communication with investors regarding business conditions and future development while adhering to information disclosure regulations to ensure transparency [3]

Core Viewpoint - The company is focusing on becoming a comprehensive supplier of commercial aerospace fuel and equipment, leveraging its expertise in cryogenic engineering and aligning with national strategic plans for emerging industries [1] Group 1: Business Focus - The company is participating in the commercial aerospace sector primarily as a high-end gas equipment supplier [1] - It has successfully delivered key equipment to domestic commercial launch enterprises, including liquid air separation devices and rocket propellant-grade liquid methane production units [1] Group 2: Strategic Development - The company is actively adjusting its business focus and industrial layout in line with the "14th Five-Year Plan" for emerging industries, identifying commercial aerospace energy equipment as a key development direction [1] - Future plans include extending its capabilities down the supply chain, transitioning from merely supplying equipment to providing gases, energy, and services [1] Group 3: Project Implementation - The company has supplied cryogenic propellants and high-purity gas production equipment to two domestic aerospace bases, with projects currently in the delivery or joint debugging phase [1]

Core Viewpoint - The company is focusing on becoming a comprehensive supplier of commercial aerospace energy equipment, transitioning from merely supplying equipment to providing gases, energy, and services in the aerospace sector [1] Group 1: Business Focus and Strategy - The company is participating in the commercial aerospace sector primarily as a high-end gas equipment supplier, having successfully delivered key equipment to domestic commercial launch enterprises [1] - The company is actively aligning its business focus and industrial layout with the "14th Five-Year Plan" for strategic emerging industries, identifying commercial aerospace energy equipment as a key development direction [1] Group 2: Project Implementation - The company has supplied low-temperature propellant and high-purity gas production equipment to two domestic aerospace bases, including liquid methane and liquid air separation devices, with related projects entering the delivery or joint debugging phase [1] - The company aims to leverage its existing equipment manufacturing and technology research capabilities to gradually extend downstream in the industrial chain, enhancing its role in the national commercial aerospace infrastructure ecosystem [1]

Core Viewpoint - The company has made significant progress in expanding its overseas market, with a notable increase in new overseas contract amounts compared to the previous year [1] Group 1: Overseas Market Expansion - In 2025, the company accelerated its "going out" strategy, achieving substantial advancements in overseas business [1] - The company successfully won a bid for the Rumuji 100 mmscfd natural gas liquefaction facility and associated project in Nigeria, with a contract amount of approximately 458 million RMB [1] - This project marks the company's first undertaking of a medium to large-scale LNG facility in Africa, highlighting the successful implementation of its international strategy [1] Group 2: Overseas Business Development Model - The company employs a flexible approach combining "independent development + localized cooperation" for its overseas market expansion [1] - It establishes partnerships with local qualified third-party agents who possess the necessary resources and channels, ensuring compliance and efficiency in advancing overseas business [1] - The cooperation forms and responsibilities are defined based on specific projects and the legal regulations of the respective countries through agreements [1]

Core Viewpoint - The company, Shudao Equipment (300540.SZ), has completed a share reduction plan by its shareholder, Cui Zhixiang, who has sold a total of 920,000 shares, representing 0.4008% of the company's total equity [1] Group 1 - The shareholder, Cui Zhixiang, executed the share reduction through block trading [1] - The share reduction plan was fully implemented as of February 5, 2026 [1]

Group 1 - The core point of the article is that Shudao Equipment (300540.SZ) has reported a significant share reduction by shareholder Cui Zhixiang, who has sold a total of 920,000 shares, representing 0.4008% of the company's total equity [1] Group 2 - The share reduction plan by Cui Zhixiang has been fully implemented as of February 5, 2026 [1]