中泰股份(300435) - 中泰股份调研活动信息

Group 1: Company Overview - The main business of Hangzhou Zhongtai Deep Cold Technology Co., Ltd. is deep cold equipment and gas operation, with deep cold technology applied at around -100 degrees Celsius [1] - The core equipment, plate-fin heat exchangers, are used in petrochemical, coal chemical, and natural gas applications, with ongoing expansion into fields like electronic gases, helium, and hydrogen energy [1] Group 2: Market Demand and Orders - As of August 2021, the company reported a record high order backlog of 1.79 billion CNY, with 60-70% of orders from natural gas projects, 20-30% from coal chemical and petrochemical sectors, and a smaller portion from electronic manufacturing [2] - The company anticipates that the driving force for downstream industries will come from energy conservation, emission reduction, and capacity upgrades, especially in the petrochemical sector [1] Group 3: Natural Gas Projects - Natural gas contracts are primarily in the form of EPC, with a significant role in addressing transportation and peak shaving issues [2] - The company is transitioning from equipment manufacturing to downstream operations, focusing on LNG as a clean energy source, which is expected to contribute stable revenue and profits [2] Group 4: Hydrogen Energy and Technology - The company is involved in hydrogen production, primarily for energy chemical and electronic manufacturing applications, with a production capacity share of 40-50% [3] - The core technology barrier for plate-fin heat exchangers is critical for the efficiency of deep cold devices, with the company holding a leading position in China [3]