When facing thousands of listed company announcements every day, which ones should you read? What are the key points to take away from the dozens or hundreds of pages of material announcements? Are the many professional terms in the announcements bullish or bearish? Check out Caixin's "Quick Read Announcement" column, where our reporters across the country will provide you with accurate, fast and professional interpretations on the night of the announcement.

On November 4, Caixin Financial News (Reporter: Liu Yue) Sichuan Shudao Equipment (300540.SZ) and Toyota Motor plan to cooperate in multiple areas such as hydrogen fuel cells, hydrogen storage, hydrogen production, and hydrogen refueling stations. Toyota Motor will also assist the joint venture company in establishing a hydrogen fuel cell system production line.

Specifically, Sichuan Shudao Equipment announced tonight that Shudao Group, the company, Toyota Motor Company, and Toyota Motor (China) Investment Co., Ltd. recently signed a "Hydrogen Industry Cooperation Agreement", intending to deepen cooperation in areas such as hydrogen fuel cells, hydrogen storage, hydrogen production, hydrogen refueling stations, hydrogen distributed power generation, hydrogen industry funds, and financial cooperation.

The announcement shows that the four parties are striving to establish the joint venture company as soon as possible, with Shudao Group and the company holding a total of 50% shares, and Toyota Motor Company and Toyota Motor (China) Investment Co., Ltd. holding a total of 50% shares. The four parties aim to use the joint venture company as a cooperation platform to discuss cooperation matters related to hydrogen fuel cell production and R&D. The four parties intend to rely on demonstration projects to jointly develop Chengdu, Sichuan, into the company's industrial cluster base and the Southern hydrogen energy industry base.

In particular, Shudao Group will leverage the advantages of a multi-scenario layout to promote hydrogen products (including but not limited to heavy-duty trucks, locomotives, mine trucks, and construction machinery); Toyota Motor will authorize patented technology to the joint venture company, assist in establishing a hydrogen fuel cell system production line, and support the joint venture company's technological research and product iteration.

Public information shows that as early as 1992, Toyota began research and development work in the field of hydrogen fuel cell vehicles, and in 2014, launched the world's first mass-produced hydrogen fuel cell vehicle model, MIRAI.

Shudao Equipment stated in the announcement that Shudao Group is the actual controller of the company and the controlling shareholder of the company, Sichuan Shudao Transportation Service Group Co., Ltd., and is an affiliated party of the company. The Shudao Group's official website shows that the group is a provincially-owned large state-owned enterprise formed by reorganizing and integrating the original Sichuan Communications Investment Group and Sichuan Railway Investment Group through a new merger method. It owns four listed companies: Sichuan Road & Bridge Group (600039.SH), Sichuan Expressway (601107.SH), Shudao Equipment, and Sichuan Hongda (600331.SH), as well as 7 3A-rated domestic credit rating entities.

Public information shows that Sichuan Shudao Equipment's main business is to provide natural gas liquefaction and liquid air separation process packages and processing equipment, with early layout in the hydrogen energy industry. In December 2023, the company disclosed the first announcement of signing a hydrogen refueling station sales contract, with a total contract amount of 12.84 million yuan. Sichuan Shudao Equipment responded on the interactive platform in September regarding its hydrogen energy layout, stating that the company has successively obtained multiple patents for tail gas hydrogen production, hydrogen liquefaction, liquid hydrogen storage tanks, and hydrogen refueling stations, making it one of the early domestic enterprises with a one-stop solution for hydrogen production, hydrogen liquefaction, hydrogen storage and transportation, hydrogen refueling station construction, and other process technology and equipment manufacturing.

Sichuan Shudao Equipment also stated that based on the application scenarios of its controlling shareholder, the company took the lead in completing the preparation of the Shudao Group's "Hydrogen Energy Industry Implementation Plan," planning and laying out the technical research and development of equipment manufacturing for various aspects of the hydrogen energy industry chain such as production, storage, refueling, and utilization. It is concurrently advancing hydrogen energy demonstration projects including: the first hydrogen refueling station application demonstration project in Wuhou District, a domestic regional hydrogen-powered locomotive demonstration project, a hydrogen production and liquefaction plant project in a chemical industrial park, and the construction of the "Chengdu-Chongqing Hydrogen Corridor" refueling network project, among others.

In terms of performance, Sichuan Shudao Equipment's third-quarter report shows that the company's revenue in the first three quarters was approximately 0.497 billion yuan, a year-on-year increase of 43.15%; net profit attributable to the parent company was approximately 23.19 million yuan, a year-on-year increase of 67.17%.