您好，公司设计和制造的深冷装备及独立运营的特种气体已应用于航空航天领域，未来随着商业航天的 发展，公司也能从中受益；同时公司的深冷技术及装置在国内外可控核聚变部分项目有相应业绩。公司 作为深冷行业的龙头企业，多年来专注于深耕深冷技术，不断研发新产品拓展下游应用领域，为公司发 展提供新的赛道。感谢您的关注！查看更多董秘问答>> 投资者提问： 你好董秘，请具体介绍一下公司产品在商业航空领域上的具体应用？是否已经产生业务收入？政策大力 发展商业航空，卫星通信，是否能会成为公司业绩增长的曲线？2核聚变相关布局是否已有收入和行业 地位如何？谢谢 董秘回答(中泰股份SZ300435)： 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 ...

责任编辑：山上 格隆汇12月11日丨中泰股份(300435.SZ)在投资者互动平台表示，公司设计和制造的深冷装备及独立运 营的特种气体已应用于航空航天领域，公司将积极参与商业航天领域，助力建设航天强国。 股票频道更多独家策划、专家专栏，免费查阅>> ...

格隆汇12月11日丨中泰股份(300435.SZ)在投资者互动平台表示，公司设计和制造的深冷装备及独立运 营的特种气体已应用于航空航天领域，公司将积极参与商业航天领域，助力建设航天强国。 ...

Group 1: Industry Overview - The Middle East is accelerating its natural gas development, with Saudi Arabia and Qatar expected to increase production by 60% and 44% respectively by 2030, driven by the development of large gas fields like Jafurah and North Field [1] - 80% of the natural gas supply in the Middle East is for regional economic demand, while 20% is for net exports, predominantly in the form of liquefied natural gas (LNG) from Qatar [1] - Natural gas is crucial for electricity generation in the region, accounting for 45% of domestic demand, with the remaining used for industrial and hydrogen applications [1] Group 2: Economic Growth and Demand - Major Middle Eastern countries are pursuing large-scale economic growth plans, with expected economic growth rates above 3% in the coming years, which will increase electricity supply demand and subsequently natural gas demand [1] - The Asia-Pacific region is the primary export market for Middle Eastern natural gas, with projected annual demand reaching 1186 billion cubic meters (bcm) by 2030, a 32% increase from 2023, driven by significant growth in China and India [1] Group 3: Equipment and EPC Market - The natural gas industry encompasses the entire process from extraction to application, requiring various equipment such as compressors, valves, and turbines [2] - The Middle East and North Africa's oil and gas projects are projected to reach $101.2 billion in contracts in 2024, a 112% increase from 2022, with Chinese companies expected to see a 116.7% year-on-year increase in project contracts [2] - The demand for natural gas compressors is expected to remain high due to the expansion of natural gas extraction in the region, with specific types of compressors needed for different stages of the process [2] Group 4: Investment Recommendations - Companies with established channel layouts and those positioned in capacity-constrained segments are likely to benefit significantly from the ongoing expansion in Middle Eastern natural gas production [3] - Recommended companies to watch include Jereh Group, Zhongtai Co., and Yingliu Co. [3]

Core Viewpoints - The relationship between China and Japan is becoming tense, highlighting the need for self-sufficiency in the industrial machinery sector, particularly in core components like CNC systems and lead screws [3] - The deep-freezing equipment industry is experiencing stable and rapid growth in new orders, indicating a favorable environment for Chinese companies to expand overseas [3] - Siemens Energy has seen a significant increase in gas turbine orders, which bodes well for its domestic supplier, Yingliu, as demand for turbine blades is expected to rise [4][5] Market Performance - The SW Machinery Equipment Index fell by 2.22% during the week of November 10-14, 2025, ranking 28th among 31 primary industry categories [1][2] - Year-to-date, the SW Machinery Equipment Index has risen by 31.88%, ranking 7th among the same categories, while the CSI 300 Index has increased by 17.62% [1][2] Industry Insights - The global deep-freezing equipment market is projected to grow, with Chart Industries reporting a 79% year-over-year increase in new orders for Q3 2025 [3] - Siemens Energy's Gas Services business secured new orders worth €23 billion in the 2025 fiscal year, reflecting a 43% increase compared to the previous year [4] - The demand for turbine blades is expected to rise due to the high technical barriers and significant value contribution of these components [5] Sector Performance Indicators - General machinery is under pressure, while engineering machinery is accelerating upward [5] - The shipbuilding sector is experiencing a slowdown, and oil service equipment is stabilizing at the bottom [5] - Railway equipment is showing steady growth, and gas turbines are also on a stable upward trend [5]

Core Viewpoint - Fostar, established in July 2000 and listed on the Shanghai Stock Exchange in January 2023, is a leading company in the domestic air separation and LNG equipment sector, focusing on cryogenic technology with a reputation for "German quality" and "Zhejiang style" [1] Group 1: Business Performance - In Q3 2025, Fostar reported revenue of 2.141 billion yuan, ranking 16th in the industry, while the net profit was 345 million yuan, ranking 8th [2] - The industry leader, Zhongchuang Zhiling, achieved revenue of 30.745 billion yuan, and the second, Zhenhua Heavy Industry, reached 26.007 billion yuan, with the industry average revenue at 3.226 billion yuan [2] Group 2: Financial Ratios - Fostar's debt-to-asset ratio in Q3 2025 was 67.37%, slightly down from 67.79% year-on-year but still above the industry average of 46.18% [3] - The gross profit margin for Fostar in Q3 2025 was 27.34%, an increase from 24.33% year-on-year, slightly above the industry average of 26.77% [3] Group 3: Executive Compensation - The chairman, Ge Shuifu, received a salary of 937,900 yuan in 2024, an increase of 77,100 yuan from 2023 [4] - The general manager, Ge Haojun, earned 923,100 yuan in 2024, up by 144,900 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 34.71% to 12,800 [5] - The average number of circulating A-shares held per shareholder decreased by 25.76% to 3,860.66 [5] Group 5: Analyst Insights - Huachuang Securities highlighted Fostar as a top air separation equipment company, noting significant revenue and profit growth in H1 2025, with a projected revenue of 3.12 billion yuan in 2025 [6] - CITIC Securities emphasized Fostar's leadership in the air separation and LNG equipment sector, forecasting revenues of 3.006 billion yuan in Q2 2025, with a strong focus on both domestic and international markets [7]

Group 1: Financial Performance - In the first half of 2025, the company achieved a revenue of 205 million yuan, representing a year-on-year growth of 35.24% [6] - The net profit attributable to shareholders reached 10.15 million yuan, with a staggering year-on-year increase of 5972.30% [6] - The new contract amount signed during the reporting period was approximately 438 million yuan, including overseas orders worth about 13 million USD [6] Group 2: Strategic Initiatives - The company is focusing on enhancing its core business in cryogenic equipment manufacturing and expanding into industrial gas and clean energy investments [4] - A strategic partnership with Toyota has been established to build a fuel cell production line, expected to commence production in Q4 2025 [4] - The company plans to invest significantly in hydrogen production, liquefaction, and refueling technologies over the next three years [8] Group 3: ESG Management - The company has received the "Outstanding ESG Value Communication Award" and improved its ESG rating, reflecting recognition from the capital market [3] - An ESG management system has been established, integrating ESG requirements into the company's development strategy and operational processes [3] - The governance structure includes a board of directors, a special working group, and an executive office to oversee ESG initiatives [3] Group 4: Market Position and Competitiveness - The company maintains a leading market share in domestic LNG liquefaction equipment, with significant competitive advantages in technology and local service capabilities [9] - The company has successfully replaced imported equipment in several projects, enhancing its market recognition [9] - The company is actively expanding its international market presence, particularly in Southeast Asia, the Middle East, and Africa [11] Group 5: Future Outlook - The company aims to strengthen its market position by enhancing investor communication and improving information disclosure quality [4] - Future projects will focus on the integration of hydrogen energy solutions across various sectors, leveraging the resources of the Shudao Group [4] - The company is committed to sustainable development and aims to create long-term value for shareholders and society through its ESG practices [7]

Fund Management and Usage - As of December 31, 2024, the balance of the special account for raised funds is reported [1] - The company has used a total of 115,179,363.72 CNY of raised funds to replace self-raised funds for investment projects and issuance expenses, approved by the board and supervisory committee [2] - There were no instances of using idle raised funds to temporarily supplement working capital during the reporting period [3] Cash Management of Idle Funds - The company approved the use of up to 300 million CNY of temporarily idle raised funds for cash management, investing in low-risk, liquid financial products [4][5] - The cash management plan allows for rolling use of funds within the approved limit, with individual product investment periods not exceeding 12 months [4][5] Project Investment and Adjustments - The company has not used any over-raised funds for permanent working capital supplementation or loan repayment during the reporting period [7] - There are no surplus raised funds as the investment process is ongoing, and no changes have occurred in the planned use of raised funds [7][8] Audit and Compliance - The report on the management and usage of raised funds has been verified by Lixin Accounting Firm, confirming compliance with regulatory requirements [6][8] - The company has disclosed all relevant information accurately and timely, with no significant violations in the use of raised funds [7][8] Asset Impairment Provision - The company has recognized an asset impairment loss totaling 120,506,931.94 CNY for the year 2024, based on comprehensive asset evaluations [30][33] - The impairment includes credit losses, inventory write-downs, and losses on investment properties and fixed assets [31][32][33] Project Delay Announcement - The company has announced a delay in the "Research and Development Center Construction Project," extending the expected completion date to May 2026 due to design adjustments and permit acquisition [38][40] - The project is deemed necessary and feasible, with a focus on enhancing the company's capabilities in large-scale cryogenic equipment [41][43]