Core Viewpoint - Sichuan Haimer Oil and Gas Energy Equipment Co., Ltd. has been established with a registered capital of 10 million yuan, focusing on manufacturing and sales of specialized oil drilling equipment [1] Group 1 - The company is involved in the manufacturing of oil drilling equipment, including deep-sea oil drilling equipment [1] - The business scope also includes the processing of mechanical parts and components [1] - Haimer Technology holds 100% ownership of the newly established company [1]

Investment Rating - The investment rating for the company is "actively participate" in the new share subscription [32][33]. Core Viewpoints - The company is a leading domestic electric desulfurization equipment manufacturer, recognized as a "little giant" with a strong focus on technology innovation and research and development [4][8]. - The company has maintained the highest market share in the electric desulfurization equipment sector from 2021 to 2023, with several technologies recognized as internationally advanced [9][10]. - The company is strategically aligned with the "Belt and Road" initiative, expanding its market presence in the Middle East and establishing a subsidiary in Dubai [10][21]. Summary by Sections 1. Company Overview - The company specializes in high-efficiency, energy-saving, and safe energy chemical equipment, including electric desulfurization, separation, heat exchange, storage, carbon capture, and hydrogen energy equipment [8]. - It has received numerous awards for technological advancements and holds multiple patents [9]. 2. Issuance Plan - The new share issuance is priced at 5.33 yuan per share, with an initial offering of 30 million shares, representing 21.73% of the total post-issue share capital [14][17]. - The expected total fundraising is 160 million yuan, with a post-issue market capitalization of 736 million yuan [14][17]. 3. Industry Situation - The oil and gas equipment industry in China is experiencing steady growth, with the market size increasing from 484.9 billion yuan in 2018 to 715.1 billion yuan in 2023, reflecting a compound annual growth rate (CAGR) of approximately 8.08% [18][19]. - The market is projected to reach 979.2 billion yuan by 2028, growing at a rate of 6.49% [18]. 4. Competitive Advantages - The company has a strong technological edge with multiple core technologies in electric desulfurization and other energy chemical equipment [23]. - It possesses high-quality product certifications and a robust quality control system, ensuring product reliability [24]. - The company has established long-term relationships with major clients, including Sinopec, PetroChina, and CNOOC, enhancing its market position [26]. 5. Subscription Analysis - The report recommends active participation in the new share subscription due to the company's leading market position, stable customer resources, and favorable growth prospects in the context of the "Belt and Road" initiative [32][33].