福斯达(603173) - 福斯达投资者关系活动记录表（2024年1月19日）

Group 1: Company Overview - Fostar's main business is deep cooling equipment, including air separation equipment, LNG devices, shell-and-tube heat exchangers, chemical cold boxes, and low-temperature storage tanks [1] - The company has a delivery cycle of 1-1.5 years for large equipment and 6-8 months for small equipment [2] - In 2023, profits were primarily derived from the implementation of orders obtained in previous years [2] Group 2: Market Expansion - Fostar is one of the early entrants into the overseas market among domestic private deep cooling equipment manufacturers, with an increasing proportion of overseas orders [2] - The company plans to extend its business upstream by focusing on core components and downstream into gas business through internal and external expansion [2] Group 3: Revenue Distribution - Revenue from 2023 was confirmed from clients located in various countries, including South Korea, Turkey, South Asia, India, South America, Russia, and the Middle East [2] - The company’s orders from emerging industries (including new energy, new materials, and semiconductors) account for 10%-20% of total orders, with uncertain growth prospects [4] Group 4: Competitive Advantage - Performance is a key consideration for clients when selecting deep cooling equipment suppliers, with a focus on past project experience and equipment stability [3] - Fostar has accumulated a number of influential projects and possesses a skilled technical team, allowing it to meet customer demands effectively [3] - The company’s deep cooling equipment operates stably, with a smaller technology gap compared to international peers, while maintaining competitive pricing [3] Group 5: Overseas Market Development - Fostar has developed its overseas market primarily through business negotiations and bidding, with some projects executed through domestic general contractors [3] - The company does not have a dedicated overseas sales or maintenance team; instead, technical and after-sales personnel are dispatched to project sites as needed [3]