Company Overview - Zhongke Qingneng has completed multiple rounds of financing, with investors including national-level industrial capital and strategic resource institutions [1] - The financing will primarily support the development and engineering delivery of a 30 tons/day liquid hydrogen system, a 20kW Tokamak main cooling system, and a third-generation quantum low-temperature sensing system, as well as the construction of a second-phase intelligent manufacturing center [1] - The company aims to complete the R&D and delivery of core systems in national-level scenarios by 2025-2026 to drive continuous growth in commercial revenue [1] Industry Context - Deep low-temperature technology is crucial for hydrogen energy, fusion, quantum computing, and aerospace, with a long history of reliance on foreign imports for related equipment [2] - The hydrogen energy sector is accelerating green hydrogen adoption, with China's green hydrogen project bidding scale expected to increase eightfold by 2025 [2] - Investment in the nuclear fusion sector is rising, with global total investments exceeding $9.7 billion, and commercial pilot projects nearing countdown [2] Technological Advancements - Zhongke Qingneng has established a comprehensive domestic technology solution for deep low-temperature equipment, covering everything from design to delivery [4] - In 2023, the company delivered China's first 1 ton/day hydrogen liquefaction equipment to the Hainan International Commercial Space Launch Center, which is now in use as a key facility for rocket fuel [4] - The company has also won bids for several national-level large scientific device projects, becoming one of the few domestic suppliers with top engineering delivery capabilities and operational experience in deep low-temperature systems [4] Future Plans - The third-generation low-temperature sensing system developed by Zhongke Qingneng has passed stability tests in a 9T strong magnetic environment and is planned for release in 2026 [6] - The company aims to achieve over 100 million yuan in annual revenue by 2025, with a client base that includes major energy state-owned enterprises and the Chinese Academy of Sciences [6] - Zhongke Qingneng is actively advancing the R&D of key equipment for low-temperature systems, striving to support the development of China's national-level fusion industry [6] Strategic Positioning - Zhongke Qingneng focuses on deep low-temperature platform technology, which supports various industries such as fusion, hydrogen energy, and quantum computing [6] - The company is not reliant on a single star product but is building system capabilities through engineering validation [7] - Following the completion of this financing round, Zhongke Qingneng plans to further promote the standardization of technology modules and product platformization, collaborating with national research institutions to establish joint laboratories [7]