Investment Rating - The report maintains a positive outlook on the controllable nuclear fusion and deep-sea technology industries, highlighting investment opportunities in cryogenic equipment and compressors [3][5]. Core Insights - Controllable nuclear fusion is viewed as the ultimate energy source of the future, with low-temperature technology being an indispensable component. It offers safety, abundant raw materials, and clean outputs compared to other energy sources [4][14]. - China is actively participating in the ITER (International Thermonuclear Experimental Reactor) project, with expectations for commercial nuclear fusion by 2035, which will significantly expand the market for cryogenic equipment [4][6]. - The deep-sea technology sector encompasses various fields, with compressors playing a crucial role in deep-sea applications, facing high technical barriers [4][6]. - The marine economy is projected to grow significantly, with the market for compressors in deep-sea technology expected to expand from approximately 19.48 billion yuan in 2025 to 40.16 billion yuan by 2030, reflecting a compound annual growth rate of 15.57% [4][6]. Summary by Sections 1. Controllable Nuclear Fusion - Controllable nuclear fusion is recognized for its safety, cleanliness, and abundant raw materials, with the D-T fusion reaction being the most feasible [14][19]. - Magnetic confinement is identified as a promising method for large-scale controllable nuclear fusion, with tokamak devices being the most widely used globally [21][26]. - Low-temperature technology enhances the efficiency and stability of nuclear fusion reactions, which is critical for maintaining the necessary conditions for fusion [34][36]. - The global nuclear fusion market is projected to reach approximately 203.5 billion USD by 2055, with cryogenic equipment expected to capture a market space of about 10.175 billion USD from 2025 to 2035 [4][6]. 2. Deep-Sea Technology - Deep-sea technology includes advanced techniques for exploring and utilizing deep-sea resources, with compressors being essential for various applications [4][6]. - The marine economy is expected to grow from approximately 10.54 trillion yuan in 2024 to 14.31 trillion yuan by 2030, indicating strong growth potential [4][6]. - The report emphasizes the importance of compressors in deep-sea applications, highlighting the technical challenges that need to be addressed for successful implementation [4][6]. 3. Related Listed Companies - The report suggests focusing on companies such as Zhongtai Co., Ice Wheel Environment, Xue Ren Co., and Kaishan Co. for investment opportunities in cryogenic equipment and compressors within the controllable nuclear fusion and deep-sea technology sectors [5][6].

Group 1 - The ice and snow industry concept declined by 2.76%, ranking among the top declines in concept sectors, with Tibet Tourism hitting the limit down, and companies like Caesar Travel, Xiyu Tourism, and Changbai Mountain also experiencing significant declines [1][2] - Among the stocks in the ice and snow industry, six stocks saw price increases, with Ice Wheel Environment, Snowman Group, and Aokema leading the gains at 4.15%, 2.64%, and 1.51% respectively [1][4] - The ice and snow industry concept experienced a net outflow of 988 million yuan from main funds, with 37 stocks seeing net outflows, and eight stocks with outflows exceeding 50 million yuan, led by Vanke A with a net outflow of 211 million yuan [2][3] Group 2 - The stocks with the largest net outflows in the ice and snow industry include Caesar Travel, Explorer, and Changbai Mountain, with net outflows of 96.45 million yuan, 86.92 million yuan, and 77.31 million yuan respectively [2][3] - The stocks with the largest net inflows include Snowman Group, Aokema, and Tianqiao Hoisting, with net inflows of 43.35 million yuan, 13.26 million yuan, and 8.51 million yuan respectively [2][4] - The overall trading activity in the ice and snow industry is characterized by significant fluctuations, with some stocks experiencing high turnover rates, such as Caesar Travel at 12.67% and Xiyu Tourism at 11.61% [2][3]

证券代码：002639 证券简称：雪人集团 公告编号：2025-055 福建雪人集团股份有限公司 2025 年第四次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会没有出现否决提案； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开情况 1．本次股东大会召开时间： （1）现场会议时间：2025 年 9 月 16 日（星期二）14:00 时； （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间 为 2025 年 9 月 16 日 9:15-9:25；9:30-11:30 和 13:00-15:00；通过深圳证券交易所 互联网投票系统进行网络投票的时间为 2025 年 9 月 16 日 9:15 至 2025 年 9 月 16 日 15:00 期间的任意时间； 2．现场会议召开地点：福建省福州市长乐区航城街道霞洲村洞江西路 8 号公 司会议室； 3．会议方式：采取现场投票和网络投票相结合的方式； 4．会议召集人：公司第六届董事会； 5．会议主持人：董事长林汝捷先生； 6．会议的召 ...

国浩律师（福州）事务所 关于 福建雪人集团股份有限公司 2025 年第四次临时股东大会 法律意见书 北京•上海•深圳•杭州•广州•昆明•天津•成都•宁波•福州•西安•南京•南宁•济南•重庆•苏州•长沙•太原•武汉•贵阳•乌鲁木齐•郑州•石家 庄•合肥•海南•青岛•南昌•大连•香港•巴黎•马德里•斯德哥尔摩•纽约 福州市台江区望龙二路 1 号 IFC 福州国际金融中心 43 层 邮编：350004 43/F,International Financial Center,No.1 Wanglong 2nd Avenue, Taijiang District, Fuzhou,350004,P.R.China 电话/Tel: (+86)(591) 88115333 传真/Fax: (+86)(591) 88338885 网址/Website:http://www.grandall.com.cn 二〇二五年九月 法律意见书 国浩律师（福州）事务所 关于福建雪人集团股份有限公司 2025 年第四次临时股东大会法律意见书 致：福建雪人集团股份有限公司 国浩律师（福州）事务所（以下简称"本所"）接受福建雪人集团股份有限 公司 ...

Group 1 - The core viewpoint of the news is that Xue Ren Group's stock has shown significant fluctuations, with a year-to-date increase of 59.42% and a recent trading volume indicating active market participation [1] - As of August 20, 2023, Xue Ren Group's main business revenue composition includes 50.48% from compressors, 25.18% from oil and gas technology services, 21.75% from ice-making equipment, and 2.59% from central air conditioning systems [2] - The company has been listed on the stock market since December 5, 2011, and has a total market capitalization of 84.37 billion yuan as of September 16, 2023 [1][2] Group 2 - Xue Ren Group's revenue for the first half of 2025 is reported at 960 million yuan, reflecting a year-on-year growth of 19.56%, while the net profit attributable to shareholders is 26.89 million yuan, up 18.50% [2] - The company has not distributed any dividends in the last three years, with a total payout of 74.42 million yuan since its A-share listing [3] - As of June 30, 2025, the second-largest shareholder is Hong Kong Central Clearing Limited, holding 14.37 million shares, an increase of 7.31 million shares from the previous period [3]

Company Overview - Xue Ren Group, established on March 9, 2000, is located in Fuzhou, Fujian Province, and was listed on December 5, 2011 [2] - The company specializes in ice-making equipment and systems, including research, production, and sales of ice-making, storage, and delivery equipment [2] - Main business revenue composition: Compressors (50.48%), Oil and gas technology services (25.18%), Ice-making equipment (21.75%), Central air conditioning systems (2.59%) [2] Financial Performance - For the first half of 2025, Xue Ren Group achieved operating revenue of 960 million yuan, a year-on-year increase of 19.56% [2] - The net profit attributable to the parent company was 26.896 million yuan, reflecting a year-on-year growth of 18.50% [2] - Cumulative cash distribution since A-share listing amounts to 74.4204 million yuan, with no cash distribution in the last three years [3] Stock Market Activity - As of September 9, the stock price of Xue Ren Group was 10.78 yuan per share, with a market capitalization of 8.329 billion yuan [1] - The stock has increased by 57.37% year-to-date, with a slight increase of 0.09% over the last five trading days, but a decline of 7.15% over the last 20 days and 8.88% over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" 18 times this year, with the most recent appearance on July 24, where it recorded a net buy of -212 million yuan [1] Shareholder Information - As of August 20, the number of shareholders was 150,100, a decrease of 9.92% from the previous period [2] - The average circulating shares per person increased by 11.02% to 4,334 shares [2] - As of June 30, 2025, Hong Kong Central Clearing Limited was the second-largest circulating shareholder, holding 14.3729 million shares, an increase of 731.35 million shares from the previous period [3]

Group 1 - The core viewpoint of the news highlights the recent stock performance and trading activity of Xue Ren Group, indicating a 58.25% increase in stock price year-to-date, with a recent decline in the last five, twenty, and sixty trading days [1] - As of September 8, Xue Ren Group's stock price was 10.84 CNY per share, with a total market capitalization of 8.375 billion CNY and a trading volume of 289 million CNY [1] - The company has seen significant trading activity, with 18 appearances on the "Dragon and Tiger List" this year, indicating notable buying and selling activity [1] Group 2 - Xue Ren Group, established in March 2000 and listed in December 2011, specializes in ice-making equipment and systems, including research, production, and sales [2] - The company's main revenue sources are compressors (50.48%), oil and gas technology services (25.18%), ice-making equipment (21.75%), and central air conditioning systems (2.59%) [2] - As of August 20, the number of shareholders decreased by 9.92% to 150,100, while the average circulating shares per person increased by 11.02% to 4,334 shares [2] Group 3 - Xue Ren Group has distributed a total of 74.42 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3] - As of June 30, 2025, Hong Kong Central Clearing Limited is the second-largest circulating shareholder, increasing its holdings by 731.35 million shares [3]

Group 1: Company Performance - In the first half of 2025, the company achieved a revenue of 960 million yuan, representing a year-on-year growth of 19.56% [1] - The net profit attributable to shareholders was 26.896 million yuan, with a year-on-year increase of 18.50% [1] - The non-recurring net profit reached 26.9224 million yuan, showing a significant year-on-year growth of 60.23%, indicating improved profit quality primarily from core business operations [1] Group 2: Industry Insights - The ice and snow economy in China is experiencing new development opportunities, with increasing participation and notable consumer growth [2] - The company is recognized as a leading manufacturer in the ice and snow industry, focusing on refrigeration solutions and snow-making equipment for various ice and snow facilities [2] - The company's products are not only well-received domestically but also exported to countries such as South Korea, Japan, Poland, Australia, Germany, Sweden, and Italy, enhancing its international reputation [2] Group 3: Product Development - The company has introduced the SCM-FD series high-pressure magnetic levitation centrifugal chillers, which are ideal for cooling systems in AI data centers due to their low noise, high cooling capacity, and energy efficiency [3] - The new product integrates advanced technologies, outperforming traditional compressors, and the company plans to increase market promotion efforts for these chillers across various sectors in the coming years [3]

证券日报网讯雪人集团（002639）9月4日在互动平台回答投资者提问时表示，截至2025年8月20日，公 司股东总户数为150087户。 ...

证券日报网讯雪人集团（002639）9月4日在互动平台回答投资者提问时表示，公司已参与雅鲁藏布江流 域上游的多个水电项目，已具备成熟的系统集成经验与交付能力。 ...