Ge Long Hui A P P·2025-09-11 09:26Group 1 - The core viewpoint of the report indicates that Hangyang Co., Ltd. achieved a net profit attributable to shareholders of 479 million yuan in the first half of the year, representing a year-on-year increase of 9.61% [1] - In Q2, the company reported a net profit attributable to shareholders of 253 million yuan, which is an increase of 8.55% year-on-year and 11.95% quarter-on-quarter [1] - The industrial gas sector is steadily improving and is expected to experience a bottom reversal [1] Group 2 - The petrochemical engineering division has successfully expanded its business, securing a 1 million tons/year ethylene cold box project in the overseas market [1] - The company has also undertaken the first domestically designed internal compression process CO deep cooling separation device project, breaking foreign technology monopolies and effectively filling a technical gap in the industry [1] - Due to slight adjustments in macroeconomic expectations, the profit forecast for 2025-2027 has been slightly revised, with projected net profits of 1.097 billion, 1.322 billion, and 1.539 billion yuan respectively [1] Group 3 - The previous profit forecasts for 2025-2027 were 1.113 billion, 1.342 billion, and 1.588 billion yuan [1] - The report maintains a "buy" rating for the company [1]