格隆汇2月26日丨侨源股份(301286.SZ)在互动平台表示，公司作为西南地区核心气体供应商之一，产品 涵盖高纯氧气、高纯氮气、高纯氩气及特气产品等多种气体。公司部分气体产品已应用于航空航天领 域，并与川内多家核心军工 及 航天单位建立合作关系。 ...

Investment Rating - The industry investment rating is optimistic [1] Core Insights - The industrial gas market is expected to reach 1.3 trillion yuan by 2026, with a CAGR of 6.8% over the next four years [3] - The competitive landscape is becoming more concentrated, with the top four companies holding 54% of the global market share and the top six in China holding 72% [3] - Growth drivers include increased outsourcing of gas supply, accelerated demand from sectors like semiconductors and new energy, and short-term benefits from macroeconomic recovery and gas price elasticity [3] Market Space - The global industrial gas market is valued at over 1 trillion, while the domestic market is around 200 billion [3] - The market is projected to grow to 284.2 billion yuan in China by 2026, with a CAGR of 9.68% from 2022 to 2026 [21] - The market is characterized by high concentration, with the top five companies holding approximately 69% of the market share [21] Equipment Market - The domestic air separation equipment market is valued at 34.1 billion yuan in 2022, with a growth rate of 25% year-on-year [4] - The market is expected to grow at a CAGR of 22% from 2019 to 2024, driven by larger equipment sizes and increased export demand [4] Electronic Specialty Gases - The semiconductor market is expected to remain strong, with a projected 30% year-on-year increase in global semiconductor sales by November 2025 [5] - There is significant potential for domestic electronic specialty gas manufacturers to replace imports and expand into global markets [5] Investment Recommendations - The report recommends focusing on leading companies in the industrial gas sector, such as Hangyang Co., and key players in electronic specialty gases like China Shipbuilding Gas and Guanggang Gas [6]

Core Insights - As of February 10, 2026, the total number of shareholders for Qiaoyuan Co., Ltd. (301286) is 7,167 [1] Company Information - Qiaoyuan Co., Ltd. has engaged with investors through an interactive platform to provide updates on shareholder statistics [1]

Core Viewpoint - Qiaoyuan Co., Ltd. reported that as of January 30, 2026, the total number of shareholders is 7,972 [2] Company Information - The company has engaged with investors through an interactive platform to provide updates on shareholder numbers [2] - The total number of shareholders indicates a growing interest in the company, which may reflect its market performance and investor confidence [2]

Core Viewpoint - Sichuan Qiaoyuan Gas Co., Ltd. (hereinafter referred to as Qiaoyuan) forecasts a significant increase in net profit for 2025, with expected growth rates of 51.51% to 71.62% compared to the previous year [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is estimated to be between 226 million to 256 million yuan [1] - The net profit after deducting non-recurring gains and losses is expected to be between 215 million to 245 million yuan, reflecting a year-on-year increase of 49.80% to 70.71% [1] Growth Drivers - The core reasons for the substantial growth in 2025 are identified as follows: - Continuous expansion of gas business scale, with capacity gradually being released, leading to increased production and sales, which in turn drives steady revenue growth [1] - A decrease in electricity costs, which effectively enhances the overall gross profit margin of the company [1] - The low base effect from significant long-term asset impairment losses recognized in the same period of 2024, providing support for year-on-year growth [1] - The impact of non-recurring gains and losses on the company's net profit is estimated to be 11 million yuan during the reporting period [1]

Core Viewpoint - Qiaoyuan Co., Ltd. announced that its wholly-owned subsidiary, Qiaoyuan Gas (Meishan) Co., Ltd., has recently obtained a revised "Drug Production License" from the Sichuan Provincial Drug Administration, allowing for changes in the production scope of the license [2] Group 1 - The company has received regulatory approval for its subsidiary's drug production license, indicating a significant step in its operational capabilities [2] - The change in the production scope may enhance the company's product offerings and market competitiveness in the pharmaceutical sector [2]

证券代码：301286 证券简称：侨源股份 公告编号：2026-003 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、误导性陈述或者重大遗漏。 四川侨源气体股份有限公司（以下简称"公司"）全资子公司侨源气体（眉 山）有限公司（以下简称"眉山侨源"）近日取得四川省药品监督管理局核准换 发的《药品生产许可证》，同意《药品生产许可证》生产范围的变更。变更后的 《药品生产许可证》具体内容如下： 一、《药品生产许可证》基本信息 企业名称：侨源气体（眉山）有限公司 注册地址：四川省眉山市东坡区修文镇康定大道 11 号 社会信用代码：91511400MA6AQ5X025 法定代表人：谌海军 四川侨源气体股份有限公司 关于全资子公司药品生产许可证变更的公告 分类码：Aq 生产地址和生产范围：四川省眉山市东坡区修文镇康定大道 11 号：医用气 体*** 二、药品生产许可证副本变更情况 同意该企业生产范围"医用气体（液态氧）（仅限注册申报使用）"变更为 "医用气体（液态氧）"，并通过药品 GMP 符合性检查；其他内容不变。 三、对公司的影响及风险提示 本次眉山侨源取得医用液氧的《药品生产许可证》，有利 ...

Group 1 - The core point of the article is that Qiaoyuan Co., Ltd. (301286) reported a total of 7,272 shareholders as of January 10, 2026 [1]

Group 1 - The core viewpoint of the news is that Qiaoyuan Co., Ltd. has shown significant stock performance and financial growth, with a notable increase in stock price and trading volume on January 22 [1][2] - On January 22, Qiaoyuan Co., Ltd. experienced a stock price increase of 19.99%, with a trading volume of 596 million yuan, and a net financing purchase of 18.23 million yuan [1] - As of January 22, the total margin balance for Qiaoyuan Co., Ltd. was 198 million yuan, with a financing balance of 197 million yuan, representing 0.76% of the circulating market value, indicating a high level compared to the past year [1] Group 2 - As of January 20, the number of shareholders for Qiaoyuan Co., Ltd. was 7,545, a decrease of 3.38%, while the average circulating shares per person increased by 3.50% to 21,375 shares [2] - For the period from January to September 2025, Qiaoyuan Co., Ltd. achieved an operating income of 797 million yuan, reflecting a year-on-year growth of 8.75%, and a net profit attributable to shareholders of 181 million yuan, which is a 40.54% increase year-on-year [2] - Since its A-share listing, Qiaoyuan Co., Ltd. has distributed a total of 91.63 million yuan in dividends [3]

Group 1 - The stock of Qiaoyuan Co., Ltd. reached the daily limit with a closing price increase of 20.00%, resulting in a turnover rate of 5.97% and a total transaction amount of 596 million yuan [2] - Institutional investors net bought 5.463 million yuan, while the Shenzhen Stock Connect recorded a net purchase of 43.911 million yuan, indicating strong institutional interest [2] - The top five trading departments accounted for a total transaction of 232 million yuan, with a net buying amount of 30.197 million yuan [2] Group 2 - The latest margin trading data shows that the total margin balance for Qiaoyuan Co., Ltd. is 17.9 million yuan, with a financing balance of 17.9 million yuan and a securities lending balance of 249,600 yuan [3] - Over the past five days, the financing balance increased by 2.214 million yuan, reflecting a growth rate of 14.11%, while the securities lending balance decreased by 109,600 yuan, a decline of 30.51% [3] - The trading data on January 22 indicates that the top buying department was the Shenzhen Stock Connect, with a buying amount of 68.0712 million yuan and a selling amount of 24.1598 million yuan [4]