中信建投证券股份有限公司 关于中船（邯郸）派瑞特种气体股份有限公司 上市公司名称：中船（邯郸）派瑞特种气体 保荐人名称：中信建投证券股份有限公司 股份有限公司 联系方式：010-56051437 保荐代表人姓名：曾琨杰 联系地址：北京市朝阳区景辉街 16 号院 1 号楼泰康集团大厦 11 层 联系方式：010-56052520 保荐代表人姓名：史记威 联系地址：北京市朝阳区景辉街 16 号院 1 公司所处的行业属于技术密集型、人才密集型行业，产品研发、生产制造过 程中涉及大量专利、非专利技术，知识产权数量众多。经过多年的研发投入和技 术积累，公司已拥有多项具有自主知识产权的发明、实用新型等授权专利，累积 了众多的实验数据、工艺参数、设计图纸等商业秘密。若公司知识产权战略和管 理体系未根据外部环境和公司发展战略与时俱进，出现海外专利布局不能满足公 司国际化发展需要，技术开发阶段未能及时做好知识产权的认定和保护，商业秘 密没有得到有效的保护或出现专利纠纷等情况，可能导致境外市场开发受阻或出 现诉讼、新产品产业化发展不能正常开展、自身权益被竞争对手侵害等情况，进 而对公司的品牌形象、竞争地位、盈利能力和正常生产经营 ...

Group 1 - The People's Bank of China and seven departments jointly issued guidelines to support new industrialization, emphasizing the integration of digital economy and real economy, and promoting financial institutions to utilize technologies like big data and AI to enhance service efficiency for manufacturing, especially SMEs [2][3] - In July, a total of 1,298 private securities investment funds were registered, marking an 18% month-on-month increase and the highest monthly registration in nearly two years. In June, 1,100 funds were registered, reflecting a 26.44% month-on-month growth, indicating a continuous increase in new private fund registrations [18] Group 2 - The liquid cooling server market is expected to experience rapid growth, with a projected compound annual growth rate (CAGR) of approximately 48% from 2025 to 2029, reaching a market size of about $16.2 billion by 2028. The market size is anticipated to grow from 14.98 billion yuan to 34.74 billion yuan from 2025 to 2027, with a CAGR of 52.3% [6] - The brain-computer interface (BCI) technology is gaining traction, with Apple's collaboration on a technology standard for controlling devices using brain signals. The global BCI market is projected to reach approximately $7 billion by 2030, with a CAGR of 16.4% from 2025 to 2030 [7][8]

Group 1 - The company has received a qualified supplier certification from GIGAPHOTON for its photolithography gas products (Kr/Ne, Ar/Ne/Xe), which is valid until July 23, 2030 [1] - GIGAPHOTON, established in 2000 and headquartered in Tochigi Prefecture, Japan, is a key player in the semiconductor photolithography field, focusing on the development and manufacturing of excimer laser machines and deep ultraviolet (DUV) and extreme ultraviolet (EUV) light sources [1] - The certification indicates that the company's products meet the stringent requirements of the high-end semiconductor manufacturing sector in terms of purity and stability, enhancing its market competitiveness in the electronic specialty gas field [1] Group 2 - The certification serves as an important recognition of the company's technological research and development capabilities and product quality control systems, facilitating business opportunities in the high-end semiconductor equipment supply chain [1]

Core Insights - Company Zhongchuan Special Gas (688146.SH) has received a qualified supplier certification from Japan's GIGAPHOTON for its photolithography gas products (Kr/Ne, Ar/Ne/Xe), valid until July 23, 2030 [1][2] - GIGAPHOTON is a key player in the semiconductor photolithography field, focusing on the development and manufacturing of excimer laser machines and deep ultraviolet (DUV) and extreme ultraviolet (EUV) light sources [1] - The certification indicates that the company's products meet stringent international standards in purity and stability, enhancing its competitiveness in the high-end semiconductor manufacturing sector [2] Company and Industry Summary - The certification from GIGAPHOTON recognizes the company's technological research and development capabilities as well as its product quality control systems [2] - This achievement is expected to help the company expand its business opportunities within the high-end semiconductor equipment supply chain and positively impact its photolithography gas product business [2]

Core Viewpoint - The announcement of leadership changes at Huate Gas, with Shi Pingxiang stepping down as chairman due to age, and Shi Sihui being elected as the new chairman, reflects a generational transition in the company's management [1][2]. Company Leadership Changes - Shi Pingxiang has resigned from the position of chairman and strategic committee head due to age, but will continue as a board member and on the strategic and nomination committees [1][2]. - Shi Sihui, the vice chairman, has been elected as the new chairman of Huate Gas [1][2]. - Shi Pingxiang and Shi Sihui are father and daughter, with their combined shareholding amounting to 51.46% of the company [2]. Company Background - Huate Gas was founded in 1999 by Shi Pingxiang and has become a leading producer of specialty gases in China, focusing on domestic production to break foreign monopolies in various high-tech sectors [3][6]. - The company went public on the Science and Technology Innovation Board in 2019, marking a significant milestone as the first gas company from Foshan to be listed [6]. Financial Performance - The company has faced revenue declines in recent years, with projected revenue drops of 16.8% in 2023 and 7.02% in 2024 [6]. - In the first quarter of 2025, Huate Gas reported revenues of 338 million yuan and a net profit of 44.4 million yuan [6].