Core Viewpoint - Shudao Equipment (300540.SZ) aims to enhance its strategic development and optimize its industrial layout through the establishment of a gas industry equity investment fund, focusing on industrial gases, clean energy, and hydrogen energy sectors [1] Group 1: Fund Establishment - The company plans to jointly invest with Shudao Chanin (Sichuan) Private Fund Management Co., Ltd. and Shudao (Sichuan) Equity Investment Fund Co., Ltd. to set up the Shudao (Sichuan) Gas Industry Equity Investment Fund [1] - The fund will primarily focus on industrial gases (including specialty gases and electronic gases), LNG, and hydrogen energy, with the intention to establish sub-funds or conduct direct equity investments [1] Group 2: Fund Size and Contributions - The total fund size is set at 2 billion yuan, with Shudao Equipment contributing 1 billion yuan (50.00% share) and Shudao Equity Fund Company contributing 998 million yuan (49.90% share) [1] - Shudao Chanin Management Company will act as the General Partner (GP) with a contribution of 2 million yuan (0.10% share) [1] Group 3: Initial Funding and Future Contributions - The initial capital contribution of 10 million yuan has been made for registration with the China Securities Investment Fund Industry Association [1] - Future contributions will be based on investment decisions and operational needs of the partnership, adhering to the agreed contribution ratios [1]

格隆汇12月1日丨蜀道装备(300540.SZ)公布，为满足战略发展需求，加快推动产业布局优化和并购投资 项目落地实施，助力公司持续构建完善工业气体、清洁能源以及氢能产业平台，四川蜀道装备科技股份 有限公司拟与蜀道产融（四川）私募基金管理有限公司（简称"蜀道产融管理公司"）、蜀道（四川）股 权投资基金有限公司（简称"蜀道股权基金公司"）共同投资设立蜀道（四川）气体产业股权投资基金 （有限合伙）（暂定名，最终以工商注册为准），主要围绕工业气体（含特种气体、电子气体）、 LNG、氢能领域设立子基金或开展直接股权投资。基金规模20亿元，蜀道装备作为LP认缴100,000万 元，占比50.00%；蜀道股权基金公司作为LP认缴99,800万元，占比49.90%；蜀道产融管理公司担任GP 认缴200万元，占比0.10%。基金首期出资到位1000万元，用于中国证券投资基金业协会备案。后续出 资根据投资项目投资决策金额及合伙企业运作需要，按各合伙人在基金中的认缴出资比例履行实缴出资 义务，具体出资金额和出资日期以基金管理人发出的缴款通知书为准。公司作为有限合伙人，以实际出 资比例享有基金投资收益，并承担相应亏损风险。 ...

Core Viewpoint - The company plans to establish a gas industry equity investment fund in collaboration with two other entities to enhance its strategic development and optimize its industrial layout [1] Group 1: Investment Fund Details - The new fund, named Sichuan Gas Industry Fund, is expected to have a scale of 2 billion yuan and a duration of 8 years [1] - The company will contribute 1 billion yuan, representing 50% of the fund, while the other partner will contribute approximately 998 million yuan, accounting for 49.9% [1] - The funding will come from the company's own resources and will be disbursed in phases based on the fund's investment progress, ensuring no significant impact on the company's cash flow [1] Group 2: Strategic Importance - The investment aims to support the company's strategic needs by accelerating the implementation of industrial layout optimization and merger and acquisition projects [1] - The company views the partnership with the equity fund as a way to effectively control and diversify investment risks through shared interests and risk-sharing [2] - The company retains a priority buyback right under equal conditions during project exits, which could enhance future returns [2] Group 3: Business Expansion and Focus - The company has been expanding its operations in gas investment and clean energy, focusing on hydrogen energy and other advanced fields [3] - Its main products include industrial gases, special gases, rare gases, and liquefied natural gas (LNG), which are utilized across various sectors such as metallurgy, chemicals, and healthcare [3] - The company aims to leverage capital operations and mergers to accelerate its transition into clean energy and industrial gas investment, fostering new growth engines [3]

Core Viewpoint - The company plans to establish a gas industry equity investment fund in collaboration with two other entities, focusing on industrial gases, LNG, and hydrogen energy [1] Group 1: Fund Details - The total scale of the fund is set at 2 billion yuan [1] - The company will contribute 1 billion yuan, representing 50% of the fund [1] - The other LP, Shudao Equity Fund Company, will contribute 998 million yuan, accounting for 49.9% [1] - Shudao Financial Management Company will act as the GP, contributing 200,000 yuan, which is 0.1% of the fund [1] - The initial capital contribution of 10 million yuan has been made for regulatory filing purposes [1] Group 2: Investment Focus - The fund will primarily invest in sectors related to industrial gases, including specialty gases and electronic gases, as well as LNG and hydrogen energy [1] - The establishment of sub-funds or direct equity investments will be pursued within these sectors [1]

证券代码：300540 证券简称：蜀道装备 公告编号：2025-052 四川蜀道装备科技股份有限公司 关于与专业机构共同投资设立产业投资基金暨关联交易的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、关联交易概述 1、本次交易基本情况 为满足战略发展需求，加快推动产业布局优化和并购投资项目落地实施，助 力公司持续构建完善工业气体、清洁能源以及氢能产业平台，四川蜀道装备科技 股份有限公司（以下简称"公司"、"蜀道装备"）拟与蜀道产融（四川）私募 基金管理有限公司（以下简称"蜀道产融管理公司"）、蜀道（四川）股权投资 基金有限公司（以下简称"蜀道股权基金公司"）共同投资设立蜀道（四川）气 体产业股权投资基金（有限合伙）（暂定名，最终以工商注册为准），主要围绕 工业气体（含特种气体、电子气体）、LNG、氢能领域设立子基金或开展直接股 权投资。 基金规模 20 亿元，蜀道装备作为 LP 认缴 100,000 万元，占比 50.00%；蜀 道股权基金公司作为 LP 认缴 99,800 万元，占比 49.90%；蜀道产融管理公司担 任 GP 认缴 200 万元， ...

证券代码：300540 证券简称：蜀道装备 公告编号：2025-051 1、以 8 票同意、0 票反对、0 票弃权审议通过《关于与专业机构共同投资 设立产业投资基金暨关联交易的议案》 为满足战略发展需求，加快推动产业布局优化和并购投资项目落地实施，助 力公司持续构建完善工业气体、清洁能源以及氢能产业平台，公司拟与蜀道产融 （四川）私募基金管理有限公司、蜀道（四川）股权投资基金有限公司共同投资 设立蜀道（四川）气体产业股权投资基金（有限合伙）（暂定名，最终以工商注 册为准）。 本议案已经公司董事会战略委员会2025年第三次会议、董事会独立董事2025 年第四次专门会议全票同意审议通过。郭海作为本议案的关联董事回避表决。本 次交易事项构成关联交易，本议案尚需提交公司股东会审议。同时为提高决策效 率，保证相关事宜的顺利进行，董事会提请股东会授权董事会并同意董事会授权 公司经理层签署合作事项下相关文件并具体落实协议项下相关事宜。 具体内容详见公司刊登于巨潮资讯网（http://www.cninfo.com.cn）《关于 与专业机构共同投资设立产业投资基金暨关联交易的公告》（公告编号： 2025-052）。 三、备查文 ...

蜀道装备公告，公司拟与蜀道产融管理公司、蜀道股权基金公司共同投资设立蜀道（四川）气体产业股 权投资基金（有限合伙），基金规模20亿元。蜀道装备作为LP认缴10亿元，占比50.00%；蜀道股权基 金公司作为LP认缴9.98亿元，占比49.90%；蜀道产融管理公司担任GP认缴200万元，占比0.10%。基金 首期出资到位1000万元，后续出资根据投资项目投资决策金额及合伙企业运作需要，按各合伙人在基金 中的认缴出资比例履行实缴出资义务。 ...

Core Viewpoint - The company, Shudao Equipment, has developed purification technologies for high-purity gases and aims to expand its operations in the specialty gas sector while monitoring demand from downstream industries such as semiconductors and photovoltaics [1] Group 1: Company Capabilities - The company possesses purification technologies for high-purity methane, carbon monoxide, helium, nitrogen, oxygen, and argon [1] - It has design and manufacturing experience with core equipment such as liquid ammonia full-containers [1] Group 2: Future Plans - The company plans to closely track changes in demand for specialty gases from downstream industries [1] - It aims to gradually expand into specialty gas categories that have clear market prospects and matching technical paths, leveraging its advantages in low-temperature separation and gas purification [1] - The company is focused on promoting high-quality development in its gas operation segment [1]

Core Viewpoint - The company is actively expanding its high-purity and electronic-grade specialty gas business in response to the growing demand from the semiconductor and high-end manufacturing sectors [1] Group 1: Company Operations - The company's main business includes LNG facilities, air separation units, hydrogen energy equipment, and transportation equipment [1] - In the industrial gas sector, the company primarily supplies bulk gases such as carbon dioxide, oxygen, nitrogen, and argon, and has also started supplying specialty gases like helium [1] Group 2: Market Trends - Since the second half of 2025, some industrial gas prices have shown a moderate upward trend due to rising energy costs and a recovery in downstream high-end manufacturing demand [1] - The company is optimizing supply chain management to ensure stable supply for customers while maintaining reasonable profit levels [1]

Group 1: Company Overview and Operations - Sichuan Shudao Equipment Technology Co., Ltd. is focusing on hydrogen fuel cell systems and components, with production expected to start in 2025 [2] - The company has made significant breakthroughs in frontier fields such as BOG helium extraction and hydrogen liquefaction, aligning with national "dual carbon" strategies [2][3] Group 2: Future Growth Drivers - The core business of deep cold gas equipment serves as a stable revenue source, while the company aims for transformation towards clean energy and industrial gas operations [4] - The company is leveraging partnerships, such as with Toyota, to develop a hydrogen fuel cell intelligent manufacturing base, projected to be operational by the end of 2025 [4] Group 3: Gas Operation Business Strategy - The company plans to become a comprehensive gas service provider, integrating technology R&D, equipment manufacturing, and investment operations [4] - Significant progress has been made in gas operation projects, including the successful launch of the Inner Mongolia Yahui helium extraction project [4] Group 4: Business Models and Market Opportunities - Gas operation models include on-site gas production for large clients and retail supply for smaller customers, providing stable cash flow through long-term contracts [5][6] - The industrial gas sector presents integration opportunities due to technological upgrades and domestic replacements, particularly for smaller enterprises lacking manufacturing capabilities [6]