Core Viewpoint - The private enterprises in the oil and gas sector are experiencing unprecedented growth opportunities due to national policies and the strategic push for energy transformation, particularly in the southwestern region of China [1][3][4]. Policy Support - The southwestern region is rich in shale gas and natural gas resources, with proven shale gas reserves exceeding 1 trillion cubic meters in areas like Sichuan and Chongqing, making it a core area for the national energy strategy during the 14th Five-Year Plan [3]. - The government has relaxed market access for oil and gas exploration and development, encouraging private enterprises to participate in unconventional energy development, which presents significant business opportunities for private equipment and technology service companies [3][4]. Market Demand - The demand for natural gas in the southwestern region is rising, driven by the dual carbon goals, leading to rapid growth in oil and gas exploration, storage, refining, and environmental technology needs [4]. - Emerging fields such as energy-efficient equipment, smart oilfield technology, and carbon capture, utilization, and storage (CCUS) are becoming industry hotspots, where private enterprises are gaining a significant foothold due to their innovative capabilities [4][7]. Industry Cluster - A number of competitive private enterprises have emerged in the southwestern region, such as Sichuan Honghua, Jereh, and Tongwei Group, excelling in oil and gas equipment, new energy materials, and environmental technology [7]. - The construction of the Chengdu-Chongqing economic circle is further promoting collaborative development of the industry chain, providing broader market space for private enterprises [7]. Event Overview - The 2025 Chengdu International Petroleum and Chemical Technology Equipment Exhibition (cippe Chengdu) will be held from September 11 to 13, focusing on the rise of private enterprises and providing a high-end platform for government-business connections, technical exchanges, and trade cooperation [8][10]. - The exhibition will cover key areas such as shale gas development, refining upgrades, smart oilfields, and low-carbon technologies, facilitating direct engagement with major industry players [8][10]. - The event aims to promote deep cooperation among domestic and international oil and gas equipment manufacturers, technology service providers, and energy enterprises in the southwestern region, injecting new momentum into the green, intelligent, and efficient development of the oil and gas industry [14].

Core Viewpoint - The Shenzhen Stock Exchange has decided to terminate the review of China Shipbuilding Dual Rui (Luoyang) Special Equipment Co., Ltd.'s application for an initial public offering (IPO) and listing on the Growth Enterprise Market [1][4] Company Overview - China Shipbuilding Dual Rui specializes in the research, development, manufacturing, and sales of bridge safety equipment, pipeline compensation equipment, special material products, high-efficiency energy-saving equipment, and energy storage and transportation equipment [4][5] - As of the signing date of the prospectus, Luoyang Dual Rui Technology Industry Holding Group Co., Ltd. holds 54.53% of Dual Rui's shares, making it the controlling shareholder [5] - The actual controller of Dual Rui holds a total of 71.07% of the shares through various subsidiaries of China Shipbuilding Group [5] IPO Details - Dual Rui originally planned to issue between 80,000,001 and 106,666,666 shares, accounting for 20% to 25% of the total share capital after issuance [5] - The company aimed to raise 65.374 million yuan, allocated for several projects including a special equipment R&D center, a high-quality stainless steel and alloy materials industrial base, a waste heat utilization and combined cooling and heating industrialization base, and to supplement working capital [5][6] Fund Allocation - The total amount for the fundraising projects is 65.374 million yuan, with specific allocations as follows: - Special Equipment R&D Center Project: 19.4 million yuan - High-Quality Stainless Steel and Alloy Materials Industrial Base Project: 9.609 million yuan - Waste Heat Utilization and Combined Cooling and Heating Industrialization Base Construction Project: 20.365 million yuan - Supplement Working Capital: 16 million yuan [6]

Core Viewpoint - The IPO process of Zhongchuan Shuangrui (Luoyang) Special Equipment Co., Ltd. has been abruptly terminated eight months after its approval, as the company submitted an application to withdraw its IPO filing to the Shenzhen Stock Exchange [1]. Group 1: Company Overview - Zhongchuan Shuangrui specializes in three main industries: bridge safety equipment, pipeline compensation equipment, and special material products, along with two emerging industries: energy-efficient equipment and energy storage and transportation equipment [2]. - The company is a subsidiary of China Shipbuilding Group, with the parent company holding 71.07% of its shares through various subsidiaries [2]. Group 2: Financial Performance - The company's revenue from 2021 to the first half of 2024 was as follows: 2021: 1.26 billion, 2022: 1.34 billion, 2023: 1.61 billion, and 2024 (H1): 743 million [2]. - The net profit figures for the same period were: 2021: 105 million, 2022: 90 million, 2023: 111 million, and 2024 (H1): 51 million [2]. - As of June 30, 2024, the company's total assets and liabilities showed a debt ratio of 49.42%, down from 54.54% in 2021 [3]. - The company's return on equity decreased from 16.69% in 2021 to 3.40% in the first half of 2024 [3].