Macro Economic Insights - The US GDP grew by 2.33% year-on-year and 4.30% quarter-on-quarter in Q3 2025[7] - The industrial output in the US increased by 2.29% year-on-year in November 2025[8] - The EU's crude steel production in November 2025 was 102 million tons, down 4.67% year-on-year[10] Market Performance - Major global stock indices saw gains: Nikkei 225 up 2.5%, Shanghai Composite up 1.9%, and S&P 500 up 1.4% for the week ending December 26, 2025[6] - Commodity prices rose significantly, with COMEX copper up 6.7% and London gold up 4.4%[6] - The US dollar index fell by 0.7%, while the Chinese yuan appreciated by 0.5% against the dollar[6] Investment Trends - The Chinese stock market is expected to stabilize above 4000 points, indicating a potential "transformation bull" market[27] - Emerging technologies are projected to be the main investment focus for 2025, with cyclical finance as a potential dark horse[27] - The risk premium for the Shanghai Composite relative to the 10Y government bond has decreased, indicating improved market sentiment[20] Sector Analysis - The average price of liquid argon has nearly doubled year-on-year, indicating strong demand in the mechanical sector[53] - The insurance sector is seeing a valuation recovery, benefiting from asset reallocation by residents[19] - The real estate market is experiencing a seasonal rebound, with increased transactions in Beijing following relaxed purchase restrictions[19]

证券日报网讯 12月29日，杭氧股份在互动平台回答投资者提问时表示，截至2025年12月20日公司股东 人数为40254户。 （文章来源：证券日报） ...

Group 1 - The company has provided liquid air separation equipment and low-temperature storage equipment to multiple domestic aerospace launch sites [2] - The products offered include aerospace-grade krypton and xenon, as well as environmental control equipment [2]

Group 1 - The core viewpoint of the article highlights that Hangyang Co., Ltd. has provided liquid air separation equipment and low-temperature storage equipment for multiple domestic aerospace launch sites [1] - The company is capable of supplying aerospace-grade krypton and xenon, as well as environmental control equipment [1]

Core Viewpoint - The company has provided liquid oxygen propellant and aerospace-grade krypton-xenon for the Zhuque series [1] Group 1 - The company is actively involved in the aerospace sector by supplying essential propellants [1]

Group 1 - The company has provided liquid air separation equipment and liquid products to several domestic aerospace launch sites [1] - The revenue generated from these products related to rocket boosters is relatively small compared to the total revenue [1]

Group 1 - The company has provided liquid air separation equipment and liquid products to multiple domestic aerospace launch sites, indicating its involvement in the aerospace sector [1] - The revenue generated from these aerospace-related activities is relatively small compared to the company's overall income [1]

格隆汇12月29日丨杭氧股份(002430.SZ)公布，董事会同意对公司全资子公司——泽州杭氧气体有限公 司（简称"泽州杭氧"）增资，并由其负责新建一套42000Nm3/h空分装置为山西兰花煤化工有限责任公 司提供气体服务。该项目总投资不超过31,400万元，由公司以自有资金对泽州杭氧增资10,000万元，其 他资金由泽州杭氧以融资方式解决。 （原标题：杭氧股份(002430.SZ)：子公司拟新建42000Nm3/h空分装置为山西兰花供气） ...

截至发稿，杭氧股份市值为300亿元。 每经头条（nbdtoutiao）——直击茅台经销商大会：2000多人周末齐聚！重大变革公布：涉及茅台酒价 格、分销等，董事长陈华：经销商不能再"躺着赚钱" 每经AI快讯，杭氧股份（SZ 002430，收盘价：30.68元）12月29日晚间发布公告称，公司第八届第三十 五次董事会会议于2025年12月29日以通讯方式召开。会议审议了《关于注销山西晋南钢铁新材料气体有 限公司的议案》等文件。 2025年1至6月份，杭氧股份的营业收入构成为：气体行业占比62.68%，制造业占比35.97%，其他业务 占比0.7%，工程总包占比0.66%。 （记者 曾健辉） ...

格隆汇12月29日丨杭氧股份(002430.SZ)公布，董事会同意注销山西晋南钢铁新材料气体有限公司，授 权公司经营层负责办理注销、清算等相关事宜。本次注销不会对公司生产经营及财务状况产生实质性影 响，不存在损害公司及全体股东利益的情形。 ...