300435Zhongtai CryogenicSZSE

Hangzhou Zhongtai Cryogenic Technology Corporation

中泰股份

300435

Shenzhen Stock Exchange

BoardChiNext of Shenzhen Stock Exchange
IndustryGas Production and Supply
ISINCNE100001YY3
ListedMarch 26, 2015
Websitewww.hz-ztpe.com/index.php
IR Emailinfo@zhongtaichina.com
Phone0571-58838858
AddressNo. 228, Golf Road, Dongzhou Subdistrict, Fuyang District, Hangzhou, Zhejiang

Company Profile

The company's products are mainly applied in energy and chemical, electronic manufacturing, aerospace and hydrogen energy fields, with high technical barriers and performance thresholds. After years of efforts, the company has successfully accumulated sufficient technical reserves, rich customer resources and a good market reputation, and has gathered an outstanding technical, marketing and management team in the industry. The company has complete process package technologies and achievements for all air separation, ammonia synthesis liquid nitrogen washing, hydrogen-carbon monoxide deep cryogenic separation, hydrogen production, natural gas liquefaction, alkane dehydrogenation, rare gas production and other product lines, and has multiple invention patents. They have been successfully applied in coal chemical, petrochemical, natural gas and electronic industries, and the customers have expanded from domestic to global. The core equipment of cryogenic technology is the plate-fin heat exchanger. The company's design and manufacturing level of plate-fin heat exchangers is leading in China and has been exported to 53 countries and regions, receiving recognition from many overseas customers. The company has provided dozens of highly dense plate-fin heat exchangers for multiple high-purity nitrogen projects at home and abroad, successfully establishing a foothold in the field of electronic manufacturing protective gas. The ultra-low leakage rate cryogenic plate-fin heat exchanger provided by the company for the national major scientific research project "Research and Development of Large-scale Cryogenic Refrigeration Equipment" has been recognized by the Chinese Academy of Sciences and will be able to meet the needs of future major science and engineering, aerospace engineering and other strategic high-tech technologies. At the same time, the company has successfully developed and delivered the coil heat exchanger, which can be applied to floating LNG at sea and large high-pressure cryogenic technology devices. All these provide a solid product and brand foundation for the company's development in the cryogenic technology market. In the field of coal chemical engineering, the company is one of the few domestic enterprises with mature performance in the purification and liquefaction stages of coal gasification. It has participated in multiple domestic coal-to-olefin projects in the MTO separation stage. In the deep cryogenic separation process for the separation of hydrogen and carbon monoxide from syngas to produce ethylene glycol, the company has received multiple orders for the separation of carbon monoxide and hydrogen and has successfully achieved domestic import substitution in these projects. It also possesses the technology and performance for large-scale production of high-purity hydrogen, thus gaining an early advantage in the future marketization of hydrogen energy. In traditional coal chemical ammonia synthesis projects, the company holds an absolute technical and performance edge in large-scale, high-pressure liquid nitrogen washing units. At the same time, the company has seized the opportunity presented by the increased demand for industrial gases in various downstream industries to enhance its market share and has achieved a certain position in the coal chemical industry. In the petrochemical industry, the company's cryogenic process section is one of the two enterprises in China with successful operation records. Relying on its rich domestic experience and years of technological accumulation, the company's competitive edge in the petrochemical industry has successfully expanded to overseas markets and has been recognized by customers in multiple countries and regions as well as international renowned engineering companies. The company has multiple successful projects of cryogenic separation cold box systems for ethylene plants, and also has projects such as cryogenic separation for propane dehydrogenation to propylene. The company has achievements in the cryogenic process sections of the largest-scale operating facilities in China in this field, and has the strength and performance to compete with well-known European and American enterprises in the overseas market. As a leading enterprise in the natural gas industry, the company has taken the absolute leading position in the preparation link of natural gas liquefaction. Meanwhile, seizing the development opportunity of natural gas in the "13th Five-Year Plan" for energy, the company has entered the natural gas operation link through the capital platform and reorganization, smoothly connecting the midstream and downstream of the natural gas industry chain, and has become an outstanding clean energy supplier and operator in China. As one of the earlier companies in the industry to engage in the hydrogen energy sector, our company has already achieved multiple projects in hydrogen production and purification. We have also accumulated technical reserves for the core equipment of hydrogen liquefaction - the company's core product, the plate-fin heat exchanger, which has been successfully applied in the national large-scale low-temperature hydrogen production experimental device. Meanwhile, our company is one of the cooperative units of the hydrogen liquefaction project of the Zhejiang Provincial Department of Science and Technology, and has jointly participated in the large-scale hydrogen liquefaction project of the Chinese Academy of Sciences with Zhejiang University to enhance and implement technological research and development. Currently, we have completed the catalyst filling of the heat exchanger prototype, the manufacturing process design, and the trial production of the small-scale hydrogen liquefaction prototype. In the future, after the large-scale application of hydrogen energy in the market, it can effectively solve the problems of hydrogen production, storage and transportation, and consumption, forming a green hydrogen - green chemical industry closed loop. At the same time, at an appropriate time, we can combine the mature gas station network of Shandong Zhongyi and use the existing technology to layout hydrogen refueling stations to quickly enter the fuel cell market. In the electronic gas industry, the company has provided dozens of high-density plate-fin heat exchangers for multiple electronic gas projects both at home and abroad. The core plate-fin heat exchangers in a large number of electronic gas devices of chip giants such as Intel, Samsung, Micron, and TSMC are all supplied by the company. The company's helium refrigerant has been successfully applied in multiple helium liquefaction devices and can be used in high-end fields such as controlled nuclear fusion and superconducting materials. Currently, in addition to core equipment, the company has complete processes and technologies for high-purity nitrogen electronic gas and has mature and complete projects in operation. After years of technological research and development and team building, the company has now mastered the technology for extracting rare gases such as krypton, neon, xenon, and helium, becoming one of the few domestic companies with the ability to produce such gases. Currently, it has achieved certain order volumes in the market and has initially entered the operation of some rare gases.

Full description

The company mainly has two business segments: cryogenic equipment manufacturing and gas operation. Cryogenic Equipment Manufacturing Segment: The company specializes in cryogenic technology equipment in the chemical energy sector, including natural gas liquefaction units, large-scale air separation units, cryogenic purification units for coal chemical ammonia synthesis, hydrogen-carbon monoxide cryogenic separation units, cryogenic separation units for propane dehydrogenation to produce propylene, molecular sieve adsorption separation units for electronic specialty gases and rare gases, etc. The company's core manufacturing products - cold boxes and aluminum plate-fin heat exchangers - have reached the world-class level. Gas Operations Segment: Relying on cryogenic technology, the company has established a dual-engine business model of "equipment manufacturing + investment operation". In 2019, the company completed the major asset reorganization of Shandong Zhongyi Gas and officially entered the natural gas operation field. In 2023, the first air separation unit independently invested and built by the company in Zhangqiu, Shandong, has entered the stable gas supply stage, officially entering the bulk gas operation field. In 2024, the company's independently invested and newly built refined krypton and xenon gas production unit in Tangshan began trial production, capable of providing high-purity refined krypton and xenon gases to the market, mainly applied in semiconductor, aerospace and other fields.

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