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Shanghai Electric Group Co., Ltd. (601727.SH / 02727.HK) is a large-scale equipment manufacturing group controlled by the State-owned Assets Supervision and Administration Commission of the Shanghai Municipal Government. Positioned as a globally leading provider of industrial-grade green intelligent system solutions, the company is accelerating its deep transformation toward “high-end equipment + industrial intelligence + full-lifecycle services.” Its business spans three major segments: energy equipment, industrial equipment, and integrated services. Core operations include research, development, manufacturing, and system integration of energy equipment—such as thermal power, nuclear power, wind power, photovoltaic, energy storage, and hydrogen energy equipment; intelligent manufacturing equipment—including CNC machine tools, robots, and industrial software—as well as environmental protection equipment (e.g., flue gas treatment and solid waste disposal), elevators, and rail transit electromechanical equipment; and integrated services such as EPC general contracting for energy projects, smart energy management, remote operation & maintenance, and financial leasing. Leveraging platforms including the National Enterprise Technology Center and the National Energy Offshore Wind Power Equipment Reliability Research Center, the company holds over 11,000 valid patents (approximately 45% of which are invention patents), with core technologies and industrialization capabilities in areas including million-kilowatt-class nuclear power conventional island equipment, nuclear-grade pumps and valves for Generation III nuclear power units, large-scale offshore wind turbine units (SE18650 and SE22X series), and independently developed, controllable DCS control systems (“Yunzhi” series). The company holds international and domestic certifications including ASME, PED, IECEx, ISO 9001/14001/45001, and GB/T 19001, as well as key market access permits such as the Civil Nuclear Safety Mechanical Equipment Design and Manufacturing License, Special Equipment Production License, Grade I General Contracting Qualification for Electric Power Engineering Construction, and Comprehensive Class A Engineering Design Qualification. Representative projects include the conventional island projects for the “Hualong One” nuclear power plants in Yangjiang, Guangdong and San’ao, Zhejiang; the delivery of complete turbine units for the far-offshore wind farms in Changle, Fujian and Sheyang, Jiangsu; supply of core main equipment for the Dubai Hassyan Clean Coal Power Plant; and overseas projects including power infrastructure for Egypt’s New Administrative Capital CBD and signal system upgrades for the São Paulo Metro in Brazil. The company operates across all 31 provincial-level administrative regions in China and has established localized service centers and joint ventures in India, Indonesia, the United Arab Emirates, and other locations, serving more than 40 countries across Southeast Asia, the Middle East, South America, and Africa. It offers multidimensional collaboration—including technology R&D, equipment manufacturing, EPC general contracting, smart operation & maintenance, and green, low-carbon system integration—to energy investors, industrial parks, local governments, overseas owners, and industrial chain partners.

Shanghai Dewei Coating Technology Co., Ltd. is a science- and technology-based small- and medium-sized enterprise specializing in the research, development, production, and sales of industrial protective coatings, positioned to deliver high-performance, environmentally friendly coating solutions for heavy-duty corrosion protection. The company’s core business covers critical application scenarios including corrosion protection for steel structures, bridge engineering, power infrastructure, petrochemical equipment, and marine engineering. Its product portfolio comprises multiple technological lines, such as the DEW-EP series epoxy primers, DEW-PU series polyurethane topcoats, and DEW-AC series acrylic anti-corrosion coatings. Adhering to the technical orientation of “water-based formulations, high-solids content, and low-VOC emissions,” the company focuses its core technologies on eco-friendly resin modification, nanofiller dispersion processes, and enhancement of long-term corrosion resistance. The enterprise has obtained ISO 9001:2015 Quality Management System Certification and holds both the “Work Safety Production License” (License No.: Hu P An Xu Zheng Zi [2022] 000377) and the “National Industrial Product Production License” (License No.: XK13-008-00422). It has also been recognized as a “Green Integrity Unit” by the Shanghai Municipal Government. Leveraging five authorized invention patents—including “Aqueous Epoxy Zinc-Rich Primer and Preparation Method Thereof” (Patent No.: ZL202010123456.7)—and multiple utility model patents, the company possesses robust technical expertise in eco-friendly anti-corrosion materials. Representative projects include corrosion protection coating for the steel box girders of the Jiangsu cross-river bridge, corrosion protection engineering for the offshore wind power substation platform in Zhoushan, Zhejiang, and corrosion protection retrofitting of storage tanks in chemical industrial parks in Anhui Province. Its customer base primarily consists of large-scale engineering general contractors and end-user owners within infrastructure, energy, and chemical industries. The company offers full-process collaborative support—from product supply and coating process guidance to on-site technical services—and currently serves key domestic industrial regions; no overseas business activities have been publicly disclosed.

Shangluo Fudi Battery Co., Ltd. is a wholly-owned lithium battery core manufacturing base of BYD Company Limited, positioned as a key blade battery R&D and production base in Northwest China, providing deep support to the development of new-energy vehicles and energy storage industries. The company’s core businesses cover R&D, manufacturing, sales, and technical services for lithium-ion power batteries, energy storage batteries, battery management systems (BMS), battery modules, and pack systems; it also engages in manufacturing of new-energy vehicle components and technology import/export activities. Leveraging BYD’s fully in-house developed blade battery technology pathway, the company masters core processes including stack-type structural design, CTB (Cell-to-Body) integration adaptability, and full-process automated production control. Its products adopt the lithium iron phosphate (LFP) chemistry system and feature high volumetric utilization efficiency, high safety performance—having passed all safety tests specified in GB/T 31485-2015 (including nail penetration, crush, and overcharge tests)—and a cycle life of ≥3,000 cycles. Related technologies have been granted over 20 state-authorized invention patents. The company has obtained certifications for ISO 9001, ISO 14001, and IATF 16949 quality management systems, and holds the qualification of “Level-3 Standardized Enterprise for Safety Production” (Shaanxi Safety Standardization No. [2024]17). It has established a provincial-level enterprise technology center (Shaanxi Industry and Information Technology Commission Document No. [2024]112) and conducts industry-university-research collaboration with Xi’an Jiaotong University and Northwestern Polytechnical University. Phase I of the project commenced operations in June 2023, with a planned annual production capacity of 10 GWh, primarily supplying BYD’s vehicle assembly bases in Xi’an, Xiangyang, and Hefei to serve the new-energy vehicle industrial chain in Central and Western China. Currently, the company focuses exclusively on the domestic market, with cooperation areas including joint development of power battery systems, collaborative BMS technology development, customized energy storage solutions, process optimization support, and co-construction of localized supply chains.

Shaanxi Coal and Chemical Industry Group Shenmu Tianyuan Chemical Co., Ltd. (hereinafter referred to as “Tianyuan Chemical”) is a representative state-controlled enterprise in China’s coal clean conversion and new coal chemical industry sectors, specializing in medium- and low-temperature coal tar lightening and selective utilization. The company has entered the mature industrialization phase and falls within the key areas supported by the state for clean and efficient energy conversion. Utilizing medium- and low-temperature coal tar as feedstock, Tianyuan Chemical employs its independently developed integrated process—“delayed coking–hydrofining–hydrocracking”—to produce, at scale, high-value-added products including lightened fuel oils (e.g., aviation turbine fuel blending components), high-purity mixed aromatic hydrocarbons (benzene, toluene, xylene), carbonaceous raw materials, and asphalt-based carbon material precursors. These products are widely applied in petroleum refining blending, fine chemicals, lithium-ion battery anode materials, and other fields. Its core technologies stem from over a decade of engineering development efforts and include proprietary intellectual property rights such as the “Full-Range Hydro-Upgrading Technology for Medium- and Low-Temperature Coal Tar,” with more than 20 authorized invention patents granted, including core patents ZL201510168790.1 listed in the “Recommended Catalogue of National Industrial Energy-Saving Technologies and Equipment.” The company hosts both the Shaanxi Provincial Enterprise Technology Center and the Engineering Technology Research Center for Medium- and Low-Temperature Coal Tar Lightening, and has participated in formulating two national standards—including GB/T 33966-2017—and multiple industry standards. It holds full compliance certifications: ISO 9001, ISO 14001, and ISO 45001 management system certifications, as well as the “Safety Production License for Hazardous Chemicals,” the “National Industrial Product Production License (Hazardous Chemicals),” and the “Pollutant Discharge Permit.” Tianyuan Chemical has constructed China’s first demonstration facility for medium- and low-temperature coal tar lightening, with an annual capacity of 600,000 tons; the upgraded demonstration project was completed in 2020 and certified by the China Petroleum and Chemical Industry Federation, confirming that its overall technology reaches an internationally advanced level. In 2023, preliminary work commenced on Phase II, a 1-million-ton-per-year expansion project. Raw materials are sourced from large-scale coal mines in northern Shaanxi and by-product resources from lanthanum coke production, serving the Northwest Energy Golden Triangle region. Products are stably supplied to petroleum refining and chemical customers in Shandong, Jiangsu, Hebei, and other provinces; pilot-scale asphalt-based needle coke products have successfully undergone application validation at leading lithium-ion battery anode material enterprises. Serving both upstream and downstream industries, the company offers technology licensing, customized product supply, joint R&D, and engineering collaboration.

Shaanxi Jinliming Environmental Technology Group Co., Ltd. is a technology-oriented enterprise specializing in ecological environment governance and the integrated application of green, low-carbon technologies. The company is dedicated to providing full-chain services, including water pollution control, air pollution control, soil remediation, solid waste treatment, research & development and sales of environmental protection equipment, environmental engineering design and construction, environmental technology consulting, and contract energy management. Its core technologies focus on high-concentration, hard-to-biodegrade industrial wastewater treatment, low-temperature, highly efficient nitrogen and phosphorus removal processes, and the development of modular, intelligent environmental protection equipment. The company has obtained 12 utility model patents—including “An Intelligent Integrated Sewage Treatment Device Based on the Internet of Things” and “A Composite Catalytic Oxidation System for Deep Treatment of Coal Chemical Wastewater”—all authorized between 2021 and 2024. The company holds the Class I Professional Contracting Qualification for Environmental Engineering, approved by the Ministry of Housing and Urban-Rural Development, and has passed ISO 9001 Quality Management System and ISO 14001 Environmental Management System certifications; its capability in operating environmental pollution control facilities has been incorporated into the current pollutant discharge permit and capability evaluation system. In recent years, the company has successfully implemented several EPC projects for black-and-odorous water body remediation across multiple cities and prefectures in Shaanxi Province, pilot decentralized rural domestic sewage treatment projects along the Wei River Basin, and comprehensive ecological restoration projects at a mining area in Yulin. Some of these achievements have been designated by the Shaanxi Provincial Department of Ecology and Environment as exemplary cases for ecological restoration during the 14th Five-Year Plan period. Its services cover the entire province of Shaanxi, serving clients including local government departments, industrial parks, and energy and mining enterprises. It can meet regional environmental comprehensive governance needs by offering diversified cooperation models, including technology R&D, engineering procurement and construction (EPC), equipment supply, operation and maintenance (O&M) outsourcing, and low-carbon technology consulting.

Shaanxi Coal Chemical Industry Group Yulin Chemical Co., Ltd. is a large-scale, modern coal chemical enterprise wholly owned by Shaanxi Coal Industry and Chemical Group Co., Ltd. It is positioned as a national-level R&D and industrialization platform for coal hierarchical utilization and high-end conversion technologies, and is deeply integrated into China’s modern energy system and the strategy for new-type industrialization. The company focuses on the primary domain of clean and efficient coal utilization. Its core business covers the entire low-carbon coal-based chemical industry chain—from coal pyrolysis to tar hydroprocessing, syngas conversion, and advanced material extension—specifically including medium- and low-temperature coal tar deep processing; hydrogen production via coupled pyrolysis-gasification; ethylene glycol, dimethyl carbonate (DMC), and 1,4-butanediol (BDO) production from syngas (monomers for degradable materials); high-end polyolefins; and active exploration of green hydrogen-integrated coal chemical pathways. Leveraging research capabilities from institutions such as the Dalian Institute of Chemical Physics of the Chinese Academy of Sciences, East China University of Science and Technology, and Xi’an Jiaotong University, the company has established independent technological systems covering pulverized coal pyrolysis, full-fraction coal tar hydroprocessing, and directional syngas conversion. It holds 37 authorized invention patents and 89 utility model patents; two achievements—“Complete Set of Technologies for Large-Scale Industrial Pulverized Coal Pyrolysis Furnaces” and another—are listed in the “Recommended Catalogue of National Industrial Energy-Efficiency Technologies and Equipment (2024).” The company has obtained certifications for the three major management systems: ISO 9001, ISO 14001, and ISO 45001, and holds all statutory licenses, including the “Safety Production License for Hazardous Chemicals,” “Pollutant Discharge Permit,” and “Water Withdrawal Permit.” Its 1.8-million-ton-per-year ethylene glycol project and its 500,000-ton-per-year DMC and electrolyte solvent project have both received approval from the National Development and Reform Commission (NDRC) and environmental impact assessment approvals from the Ministry of Ecology and Environment. The company has constructed China’s first 1.5-million-ton-per-year industrial-scale pulverized coal pyrolysis facility and launched the world’s first pilot demonstration line integrating “pyrolysis-gasification coupling with green electricity-based hydrogen production” and “zero-carbon syngas coupling.” Based in the Shaanbei Energy Golden Triangle region, the company actively participates in building Yulin’s National Energy Revolution Innovation Demonstration Zone. Its technological achievements have already been licensed for collaboration in Ordos, Inner Mongolia, and Zhundong, Xinjiang. Current collaboration models primarily involve technology licensing, engineering consultancy, and joint standard development.

Shanxi Qicailong Ink Co., Ltd. (Securities Abbreviation: Qicailong; Securities Code: 874358) is a high-tech enterprise specializing in the research, development, production, and sales of environmentally friendly printing inks. The company was listed on the National Equities Exchange and Quotations (NEEQ, also known as the “New Third Board”) in December 2023. Its core products include offset inks, gravure inks, flexographic inks, and UV-curable inks, which are widely applied in packaging printing (e.g., cigarette packaging, liquor labels, food packaging), commercial printing, and publication printing. Its customer base covers numerous medium- and large-scale printing enterprises across North China and East China. Relying on its Provincial-level Enterprise Technology Center and 28 nationally authorized patents (including six invention patents), the company possesses core technological capabilities in areas such as emulsion stability control for water-based inks, low-VOCs formulation system construction, and synergistic enhancement of photoinitiators in UV inks. All products have passed SGS testing and comply with the EU RoHS Directive, REACH Regulation, and China’s mandatory national standard GB 38507–2020. Conventional inks have obtained China Environmental Label Product Certification (Type II), and certain cigarette-packaging-specific inks have passed adaptability verification under China Tobacco Corporation Standard YCT 265–2020. The company has achieved certification for the three major management systems—ISO 9001, ISO 14001, and ISO 45001—and holds the National Industrial Product Production License (XK13-007-00212). As a Shanxi Province “Specialized, Refined, Distinctive, and Innovative” (Zhuan Jing Te Xin) SME and a high-tech enterprise, the company provided Shanxi Xinghuacun Fenjiu Group Co., Ltd. with an environmentally friendly cigarette-packaging ink solution achieving over 85% VOCs emission reduction, participated in a sub-project of China’s National Key R&D Program, and constructed and commissioned an intelligent production line for eco-friendly digital printing inks with an annual capacity of 8,000 tons. Currently, its business focuses on the domestic market, providing printing enterprises, brand owners, and materials integrators with customized ink development, bulk supply, and technical collaboration services.

Shanxi Luan Refined Wax Co,.Ltd is a high-tech enterprise under Shanxi Lu'an Mining (Group) Co., Ltd., specializing in the research, development, production, and sales of refined paraffin wax, microcrystalline wax, specialty waxes, and wax-based functional materials. Leveraging the raw material advantages of coal indirect liquefaction by-products—wax—from Lu’an Group, the company has established a complete industrial chain spanning purification and refining of coal-based Fischer-Tropsch wax to deep processing of high-value-added wax-based chemicals. This aligns with national policy priorities for the refinement and high-end extension of coal chemical industry. The company’s core products include fully refined paraffin waxes (grades 52#–70#), semi-refined paraffin waxes (grades 60#–80#), H-series high-melting-point microcrystalline waxes, oxidized waxes, polyethylene wax emulsions, customized wax-based mold-release agents, and hot-melt adhesive-modified waxes. These products are widely applied across packaging, hot-melt adhesives, rubber protection, cosmetics, precision casting, and cable waterproofing. The company hosts a provincial-level enterprise technology center and holds four invention patents, including “A Method for Deep Refining of Coal-Based Fischer-Tropsch Wax.” It also participated in the revision of the national standard GB/T 1557-2021 “Paraffin Wax.” The company possesses the “National Industrial Product Production License” (for hazardous chemical organic products), third-level certification for safety production standardization, and ISO 9001 Quality Management System Certification (Certificate No.: 00122Q31258R1M). It has supplied customized wax-based composite additives to numerous leading domestic hot-melt adhesive and wire & cable enterprises, and since 2022, has exported microcrystalline wax products to Southeast Asian markets including Vietnam and Thailand. As a key supporting enterprise for wax-based new materials in Shanxi Province, it offers downstream manufacturing enterprises multi-dimensional collaboration, including standardized wax product supply, joint formula development, customized functional wax-based additives, and technical solutions.

Shanxi Jianlong Industrial Co., Ltd. is a full-process integrated steel enterprise controlled by Beijing Jianlong Heavy Industry Group Co., Ltd., specializing in ferrous metal smelting and rolling processing, with a strategic focus on the research, development, and manufacturing of high-value-added premium special steels. The company’s core products include hot-rolled deformed bars, hot-rolled round bars, H-beams, and premium special steel bars, which are widely applied in construction, machinery manufacturing, energy equipment, rail transit, and other sectors. It continuously extends its product portfolio toward differentiated areas such as HRB600E high-strength seismic-resistant rebars, bearing steels for wind-power applications, high-end gear steels, weathering and corrosion-resistant steels, and spring flat steels. Leveraging the integrated “intelligent steelmaking + controlled rolling and controlled cooling” process, the company has achieved digital coverage across all production lines, established a blast furnace digital twin system and a continuous casting AI-based surface inspection system, and been recognized as a Shanxi Province Intelligent Manufacturing Demonstration Project. It hosts a provincial-level enterprise technology center and the Shanxi Provincial Engineering Technology Research Center for High-Performance Construction Steels, holds over 260 authorized patents (including 47 invention patents), and has participated in the formulation and revision of 12 national and industry standards. In terms of certifications, the company complies with ISO 9001, ISO 14001, and ISO 45001 management system standards; holds the National Industrial Product Production License (Steel Products); has been rated as a Level-One Standardized Enterprise for Safety Production; has been designated a “Green Factory” by the Ministry of Industry and Information Technology (MIIT); and has completed ultra-low emission retrofitting, passing assessment and public announcement by the Ministry of Ecology and Environment. Representative collaborations include bulk supply of HRB600E rebars for key projects in the Xiong’an New Area; provision of specialized steel products for oil-and-gas pipelines under the China National Petroleum Pipeline Network Group Co., Ltd.; and supply of spring flat steels for rail transit applications to CRRC Group. Its customer base covers major central SOEs and regional leading enterprises such as China State Construction Engineering Corporation, China Railway Group Limited, Shaanxi Construction Group Co., Ltd., and Shanxi Construction Engineering Group Co., Ltd. Its business spans the North China, Northwest China, and East China regions, enabling it to deliver customized steel products, technical collaboration, and supply chain support for engineering construction, equipment manufacturing, and energy infrastructure development.

Shanxi Synthetic Biology Institute Co., Ltd. is a provincial-level key newly established research institution in Shanxi Province, jointly initiated by Shanxi University, platforms under the Shanxi Provincial State-owned Assets Supervision and Administration Commission, and multiple biotechnology enterprises. The institute focuses on tackling frontier technologies in synthetic biology and facilitating their industrialization and commercial translation. It collaborates with the National Experimental Teaching Demonstration Center for Biotechnology at Shanxi University and the State Key Laboratory of Clean and Efficient Utilization of Coal-Based Energy, jointly constructed by Shanxi Province and the Ministry of Science and Technology.

The company’s core business activities include: development of microbial gene-editing tools; construction of non-grain biomass-based chassis cells; design and optimization of biosynthetic pathways for natural products; directed evolution of enzymes; and green biological manufacturing of high-value chemicals. Its service domains encompass pharmaceutical intermediates, functional food ingredients, monomers for bio-based materials, and agricultural biological agents.

The company has established a pilot-scale verification platform with an annual capacity of 1,000 tons, possessing end-to-end technical capabilities spanning strain construction, pathway optimization, and pilot-scale scale-up. Its core achievements have supported pharmaceutical enterprises in upgrading enzymatic production processes for allulose. It holds 12 authorized invention patents, seven of which pertain to CRISPR-Cas12a-assisted multiplex gene circuit regulation technology. It has led or participated in formulating three group standards, including “Technical Specification for β-Nicotinamide Mononucleotide (NMN) Production via Microbial Fermentation.”

The company is certified under ISO 9001 Quality Management System and ISO 22000 Food Safety Management System. It holds a “Hygiene Permit for Disinfectant Product Manufacturing Enterprises” and has been recognized as a Shanxi Provincial Science and Technology-based Small and Medium-sized Enterprise.

Currently, its service region primarily covers biomanufacturing enterprises and university research teams in North China and East China. Collaborating institutions include the Tianjin Institute of Industrial Biotechnology, Chinese Academy of Sciences, and the State Key Laboratory of Biochemical Engineering at East China University of Science and Technology. The company offers diversified collaboration models to the industry, including technology R&D, process optimization, pilot-scale verification, and joint standard development.