Investment Rating - The report maintains an "Accumulate" rating for the gas industry [1] Core Views - The report highlights a warming trend in temperatures leading to a decline in gas prices in Europe and the US, while domestic gas prices remain stable [1][9] - It emphasizes the overall supply being relaxed, with domestic gas prices decreasing by 2.0% week-on-week [26] - The report suggests that the pricing mechanism is being rationalized, and demand is expected to increase [1] Price Tracking - As of February 6, 2026, the week-on-week changes in gas prices are as follows: US HH down 31.5%, European TTF down 11%, East Asia JKM down 3.6%, China LNG ex-factory down 2%, and China LNG CIF down 11.6% [9][10] - The report notes that the average gas consumption in Europe for the first ten months of 2025 was 349.5 billion cubic meters, a year-on-year increase of 4.6% [15] Supply and Demand Analysis - The report indicates that the US natural gas market price decreased by 31.5% week-on-week due to a high base, with storage levels at 28,230 billion cubic feet, a year-on-year increase of 9.8% [14] - In Europe, gas supply decreased by 5.2% week-on-week, with a notable drop in gas-fired power generation output by 10.9% week-on-week [15] - Domestic gas consumption for 2025 is projected to increase by 2.3% year-on-year to 433.2 billion cubic meters, attributed to warmer winter conditions affecting heating gas demand [26] Pricing Progress - The report states that 68% of cities have implemented residential pricing adjustments, with an average increase of 0.22 yuan per cubic meter [40] - The report anticipates continued pricing adjustments and improvements in profitability for city gas companies [40] Investment Recommendations - The report recommends focusing on companies that can optimize costs and benefit from the ongoing pricing adjustments, such as Xin'ao Energy, China Resources Gas, and Kunlun Energy [1] - It also suggests monitoring companies with quality long-term contracts and flexible scheduling capabilities, such as Jiufeng Energy and Xin'ao Co. [1] - The report highlights the importance of energy independence and recommends companies with gas production capabilities, such as Shouhua Gas [1]

| 证券代码：300483 | 证券简称：首华燃气 | 公告编号：2026-017 | | --- | --- | --- | | 债券代码：123128 | 债券简称：首华转债 | | 首华燃气科技（上海）股份有限公司 关于提前赎回"首华转债"的第三次提示性公告 1、"首华转债"赎回价格：100.616 元/张（含当期应计利息，当期年利率为 1.80%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公 司深圳分公司（以下简称"中国结算"）核准的价格为准。 11、本次赎回完成后，"首华转债"将在深圳证券交易所（以下简称"深交 所"）摘牌。债券持有人持有的"首华转债"如存在被质押或被冻结的，建议在 停止转股日前解除质押或冻结，以免出现因无法转股而被赎回的情形。 12、债券持有人若转股，需开通创业板交易权限。投资者不符合创业板股票 适当性管理要求的，不能将所持"首华转债"转换为股票，特提请投资者关注不 能转股的风险。 2、赎回条件满足日：2026 年 2 月 4 日 3、停止交易日：2026 年 3 月 3 日 4、赎回登记日：2026 年 3 月 5 日 5、停止转股日：2026 年 3 月 6 ...

中证鹏元资信评估股份有限公司 中证鹏元公告【2026】67 号 中证鹏元关于关注首华燃气科技（上海）股份有限公司控 股股东、实际控制人发生变更的公告 中证鹏元资信评估股份有限公司（以下简称"中证鹏元"）对首 华燃气科技（上海）股份有限公司（以下简称"首华燃气"或"公司"， 股票代码：300483.SZ）及其发行的下述债券开展评级。除评级委托 关系外，中证鹏元及评级从业人员与公司不存在任何足以影响评级行 为独立、客观、公正的关联关系。 | | | | | | | | | 主体等级 债项等级 | 评级展望 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 首华转债 | 债券简称 | 上一次评级时间 2025 | 年 | 6 | 月 | 27 | 日 | 上一次评级结果 AA- AA- | | 稳定 | 本次协议转让前后相关股东及一致行动人持股情况如下： 公司（以下简称"中海沃邦"）的股权，截至 2025 年末山西汇景直 接持有中海沃邦 8.2946%的股权。中海沃邦是公司煤层气开采业务的 主要开展主体，山西汇景在煤层 ...

Group 1 - The A-share market experienced a slight decline on February 6, with the three major indices showing a downward trend [2] - The oil and gas sector saw significant gains, with Shouhua Gas rising over 10%, and companies like Zhun Oil and Intercontinental Oil reaching their daily limit [2] - The geopolitical situation in Iran and Russia, along with OPEC+ production expectations for the second quarter, are key factors influencing the oil market in February [2] Group 2 - The U.S. State Department issued a security warning regarding Iran, advising American citizens to leave the country and prepare for potential emergencies [2] - Citic Futures highlighted that the geopolitical premium remains in the oil market, with short-term focus on U.S.-Iran negotiations and India's oil purchases from Russia [2] - The outlook for oil prices suggests a volatile trend, with a current oversupply in the market but frequent disruptions in supply expectations due to geopolitical tensions [2]

Core Viewpoint - The oil and gas sector is experiencing a significant rally, with notable stock price increases among various companies, indicating a positive market sentiment in this industry [1][2]. Group 1: Stock Performance - Intercontinental Oil & Gas reached a daily limit increase, closing at 5.50, marking a 10% rise [1]. - Shouhua Gas saw a substantial increase of over 12%, with its current price at 17.24 [2][3]. - Taishan Petroleum also performed well, rising over 5% to a price of 8.29 [2][3]. - Other companies in the sector, such as International Industry and Blue Flame Holdings, reported increases of 3.54% and 2.94%, respectively [3]. Group 2: Market Activity - The overall trading volume for Intercontinental Oil & Gas exceeded 4 billion yuan, reflecting strong investor interest [1]. - The positive trend in oil and gas stocks suggests a broader market recovery or investor confidence in the sector [2].

2月6日，首华燃气涨5%，截至发稿，报16.16元/股，成交1.19亿元，换手率2.42%，总市值50.74亿元。 资料显示，首华燃气科技(上海)股份有限公司位于上海市闵行区元江路5000号，成立日期2003年1月8 日，上市日期2015年6月30日，公司主营业务涉及从事园艺用品研发、生产、销售,兼顾园艺设计、工程 施工和绿化养护等业务的综合服务;天然气勘探、开发、生产、销售业务。主营业务收入构成为：天然 气业务100.00%，其他(补充)0.00%。 从基金十大重仓股角度 数据显示，南方基金旗下1只基金重仓首华燃气。南方创业板2年定开混合（160143）四季度持有股数 101.23万股，占基金净值比例为4.1%，位居第六大重仓股。根据测算，今日浮盈赚取约77.95万元。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 责任编辑：小浪快报 南方创业板2年定开混合（160143）成立日期2020年9月1日，最新规模3.5亿。今年以来收 ...

| 证券代码：300483 | 证券简称：首华燃气 | 公告编号：2026-016 | | --- | --- | --- | | 债券代码：123128 | 债券简称：首华转债 | | 首华燃气科技（上海）股份有限公司 关于提前赎回"首华转债"的第二次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、"首华转债"赎回价格：100.616 元/张（含当期应计利息，当期年利率为 1.80%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公 司深圳分公司（以下简称"中国结算"）核准的价格为准。 11、本次赎回完成后，"首华转债"将在深圳证券交易所（以下简称"深交 所"）摘牌。债券持有人持有的"首华转债"如存在被质押或被冻结的，建议在 停止转股日前解除质押或冻结，以免出现因无法转股而被赎回的情形。 12、债券持有人若转股，需开通创业板交易权限。投资者不符合创业板股票 适当性管理要求的，不能将所持"首华转债"转换为股票，特提请投资者关注不 能转股的风险。 2、赎回条件满足日：2026 年 2 月 4 日 3、停止交易日：2026 ...

Group 1 - The core point of the article is that Shouhua Gas announced the completion of the redemption of "Shouhua Convertible Bonds," which will be delisted from the Shenzhen Stock Exchange [1] - Bondholders are advised to lift any pledges or freezes on their "Shouhua Convertible Bonds" before the stop date for conversion to avoid being redeemed without the ability to convert [1] - Investors wishing to convert their bonds into stocks must open a ChiNext trading account, and those who do not meet the suitability requirements for ChiNext stocks cannot convert their "Shouhua Convertible Bonds" into shares, highlighting the risk of being unable to convert [1]

Group 1 - The company, Shouhua Gas, announced that its sixth session of the sixteenth board meeting was held on February 4, 2026, combining in-person and communication methods [1] - The meeting reviewed the proposal regarding the early redemption of "Shouhua Convertible Bonds" [1]

| 证券代码：300483 | 证券简称：首华燃气 | 公告编号：2026-014 | | --- | --- | --- | | 债券代码：123128 | 债券简称：首华转债 | | 首华燃气科技（上海）股份有限公司 关于提前赎回"首华转债"的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、"首华转债"赎回价格：100.616 元/张（含当期应计利息，当期年利率为 1.80%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公 司深圳分公司（以下简称"中国结算"）核准的价格为准。 11、本次赎回完成后，"首华转债"将在深圳证券交易所（以下简称"深交 所"）摘牌。债券持有人持有的"首华转债"如存在被质押或被冻结的，建议在 停止转股日前解除质押或冻结，以免出现因无法转股而被赎回的情形。 12、债券持有人若转股，需开通创业板交易权限。投资者不符合创业板股票 适当性管理要求的，不能将所持"首华转债"转换为股票，特提请投资者关注不 能转股的风险。 2、赎回条件满足日：2026 年 2 月 4 日 3、停止交易日：2026 年 3 月 ...