Core Viewpoint - Zhongke Fuhai Technology Co., Ltd. has initiated the listing guidance process with the Beijing Securities Regulatory Bureau, marking its entry into the capital market and potentially injecting new momentum into domestic low-temperature technology breakthroughs [1][3] Company Overview - Established in 2016, Zhongke Fuhai leverages the technical background of the Institute of Physics and Chemistry, Chinese Academy of Sciences, focusing on extreme low-temperature fields such as liquid hydrogen and superfluid helium [3] - The company is one of the few comprehensive service providers in China covering the entire chain of large low-temperature refrigeration equipment R&D, gas engineering services, and new energy applications [3] Business Operations - Zhongke Fuhai's operations span critical areas including hydrogen liquefaction, BOG helium extraction, and rare gas purification, achieving multiple domestic firsts in liquid hydrogen plant construction and helium resource extraction [3] - The company has established a nationwide network through over twenty subsidiaries, covering regions such as Beijing-Tianjin-Hebei, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area [3] - It has built China's first natural gas BOG helium extraction demonstration plant in Ordos, achieving a helium extraction rate of 98% [3] - The company is also developing high-purity rare gas and liquid hydrogen projects in Fuyang, Anhui, and has established a low-temperature and storage equipment manufacturing base in Guangdong [3] Market Position - Zhongke Fuhai's domestically produced 200W@4.5K helium refrigerator has been exported to South Korea, and the company has secured over ten large equipment orders, leading in domestic market share [3] Hydrogen Energy Initiatives - In the hydrogen energy sector, Zhongke Fuhai leads the national "Key Special Project on Renewable Energy and Hydrogen Technology," aiming to create a fully domestic technology chain for liquid hydrogen production, storage, and refueling with a target of 5 tons/day [3] - The company has achieved integration of a 1.5 tons/day hydrogen liquefier cold box and completed the first large-scale hydrogen liquefaction equipment export in China, while advancing the construction of 1.5 to 10 tons liquid hydrogen plants in multiple locations [3] Governance Structure - The company has no controlling shareholder, with actual control held by the Institute of Physics and Chemistry, Chinese Academy of Sciences, and technical experts Gong Linghui and Gao Jinlin, who collectively control 37.03% of the voting rights, highlighting a collaborative governance model of "research institutions + industry experts" [3]