HANGYANG LIMITED(SZ:002430) Chang Jiang Shang Bao·2025-10-30 23:55Core Viewpoint - AMC giant CITIC Financial Asset has increased its stake in Hangyang Co., Ltd., reflecting confidence in the company's growth prospects and value recognition [3][4]. Group 1: Shareholding Changes - On October 28, CITIC Financial Asset acquired 13.9684 million shares of Hangyang, raising its stake from 3.57% to 5% [2][3]. - The average transaction price for the shares was 26.06 yuan per share, totaling approximately 364 million yuan [2][5]. - Following the announcement of the stake increase, Hangyang's stock hit the daily limit, closing at 29.52 yuan per share, a 9.99% increase, marking its highest price of the year [2][5]. Group 2: Financial Performance - For the first three quarters of 2025, Hangyang reported revenue of 11.428 billion yuan, a year-on-year increase of 10.39%, and a net profit of 757 million yuan, up 12.14% [5][6]. - In Q3 2025, the company achieved revenue of 4.101 billion yuan, a 13.12% increase, with net profit and net profit excluding non-recurring gains reaching 278 million yuan and 267 million yuan, respectively, marking year-on-year growth of 16.79% and 21.6% [5][6]. - The net cash flow from operating activities for the first three quarters of 2025 was 1.947 billion yuan, a significant increase of 140.03% [6]. Group 3: Business Model and Market Expansion - Hangyang operates a collaborative model integrating equipment manufacturing and gas production, creating a closed loop where equipment supports gas operations and vice versa [7]. - The company has successfully expanded into international markets, achieving 295 million yuan in overseas revenue in the first half of 2025, a remarkable growth of 78.89% [7]. - Hangyang has reached advanced levels in the research and manufacturing of large-scale air separation equipment, breaking foreign technology monopolies and elevating China's manufacturing capabilities to an international standard [7][8].