Xin Lang Cai Jing·2025-09-08 09:44Group 1 - The company held a specific investor survey on September 5, 2025, attended by 30 investment institutions, focusing on its layout in the nuclear fusion field and the impact of industry policies [1] - The company is the largest manufacturer of air separation equipment globally, with extensive experience in low-temperature separation, purification, and gas supply [1] - The company provides complete solutions for nitrogen and helium refrigeration systems, as well as gas extraction, storage, refrigeration, and recovery [1] Group 2 - Domestic low-temperature systems for nuclear fusion are primarily dominated by foreign manufacturers, creating a pressing demand for domestic alternatives [2] - The company aims to replicate the domestic replacement path for air separation equipment, despite entering the nuclear fusion field later than competitors [2] - A special task force was established within two months to manage projects and integrate internal resources, with all core team members being experienced employees [2] Group 3 - Internal surveys indicate that some companies in the steel and chemical industries have received production reduction requirements, but full compliance has not yet been achieved [3] - The special gas subsidiary has shown improvement compared to last year, benefiting from the acquisition of another company, although this segment contributes a small portion to overall performance [3] - Gas prices have stabilized and rebounded compared to the low levels of last year, with oxygen, nitrogen, and argon prices increasing month-on-month [3]