Group 1: Report Overview - Report research on the company: Shudao Equipment [17] - Industry: Specialized Equipment [2] - Research date: February 9, 2026 [1] - Participating institutions: Huaxi Securities, Everbright Securities, Penghua Fund, Rongtong Fund, etc. [2] Group 2: Research Details 1. Basic Research Information - Research object: Shudao Equipment [17] - Industry: Specialized Equipment [17] - Reception time: 2026 - 02 - 09 [17] - Company reception staff: Deputy General Manager and Board Secretary Ma Jigang, Deputy Director of the Board Office and Securities Affairs Representative Jia Xue, Securities Affairs Representative Xiang Xingrui [17] 2. Detailed Research Institutions | Reception Object | Reception Object Type | Institution - Related Personnel | | --- | --- | --- | | Huaxi Securities | Securities Company | - | | Everbright Securities | Securities Company | - | | Penghua Fund | Fund Management Company | - | | Rongtong Fund | Fund Management Company | - | [18] 3. Company Information - Company introduced development history, competitive advantages, "15th Five - Year" business layout, and strategic transformation [22] - Core business: Provide natural gas liquefaction and air separation process packages and processing devices [22] - Main products: Natural gas liquefaction devices, coke oven gas liquefaction devices, etc. [22] - Production capacity: Capable of designing and manufacturing LNG liquefaction devices with a daily processing capacity of 10 million cubic meters, liquid air separation devices with a daily output of 1000 tons, and gas air separation devices with a design and manufacturing capacity of 100,000 Nm³/h [22] 4. Overseas Orders and Market Expansion - Overseas orders are mainly in Southeast Asia and Africa, covering core application scenarios such as LNG liquefaction, storage tanks, air separation oxygen production, and hydrogen purification [22] - Future focus: Expand markets along the "Belt and Road" countries, promote LNG liquefaction complete sets of devices, large - scale air separation devices, etc. [23] - Measures: Establish overseas service networks, optimize product international standard adaptability and logistics support capabilities, and enhance brand international influence through cooperation with international leading enterprises [24] 5. Gas Operation Projects - Industrial gas: Provide nitrogen supply - related equipment leasing and operation and maintenance management services to Shuneng Minerals, which was officially put into production in January 2024, providing 8000 Nm³/h high - purity nitrogen supply services for Shuneng Minerals' Mabian lithium iron phosphate plant [24] - Special gas: The Inner Mongolia Yahai BOG helium extraction device project was officially put into production in October 2023, filling the domestic technical gap in extracting high - purity helium from flash steam of large - scale LNG devices [24]

Group 1: Company Overview - The company introduced its development history, competitive advantages, and the layout of its "14th Five-Year Plan" business segments, focusing on strategic transformation and upgrades [2] - The company specializes in cryogenic equipment manufacturing, particularly in gas liquefaction and separation technologies, with main products including LNG liquefaction units and air separation devices [3] Group 2: Production Capabilities - The company has the design and manufacturing capacity for LNG liquefaction units handling 10 million cubic meters per day, with air separation units capable of producing 1,000 tons per day [3] - The design and manufacturing capacity for gas separation units is at 100,000 Nm³/h [3] Group 3: Market Expansion and Strategy - The company’s overseas orders for cryogenic equipment are primarily concentrated in Southeast Asia and Africa, covering core applications such as LNG liquefaction and hydrogen purification [3] - Future growth will focus on expanding into "Belt and Road" countries, enhancing cooperation with local industrial enterprises, and establishing an overseas service network [3] Group 4: Gas Operation Projects - The company has initiated an industrial gas project providing nitrogen supply equipment rental and operational management services, which began production in January 2024, focusing on high-purity nitrogen supply for lithium iron phosphate plants [3] - A helium extraction project from LNG, the largest of its kind in China, commenced in October 2023, targeting various high-tech applications [3] Group 5: Investor Communication - The company engaged in thorough communication with investors regarding business conditions and future development while adhering to information disclosure regulations to ensure transparency [3]