Guangzhou Guanggang Gases & Energy (SH:688548) GUOTAI HAITONG SECURITIES·2026-03-23 03:00Investment Rating - The report assigns an "Accumulate" rating for the mechanical industry [1]. Core Insights - The weekly average price of liquid gas has increased compared to the previous week, and the Guanggang Gas Chengdu Electronic Ultra-Pure Bulk Gas Project has officially launched [3][4]. - The report recommends stocks including Hangyang Co., Ltd. and Shaan Gu Power, with related stocks being Guanggang Gas, Fostar, and Zhongtai Co., Ltd. [4]. Summary by Sections Price Trends - The weekly average prices for various gases as of March 19, 2026, are as follows: - Liquid Oxygen: Average price of 348 RMB/ton, up 3.8% week-on-week, down 18.5% year-on-year - Liquid Nitrogen: Average price of 379 RMB/ton, up 5% week-on-week, down 8% year-on-year - Liquid Argon: Average price of 638 RMB/ton, up 2.08% week-on-week, up 21.36% year-on-year - High-Purity Helium (Cylinder): Average price of 590.56 RMB/cylinder, up 0.5% week-on-week, down 10.13% year-on-year [4][9]. Production Capacity - The average weekly operating load rate for China's industrial gas sector is 66.73%, down 1.88 percentage points [4][7]. Important Events - The Guanggang Gas Chengdu Electronic Ultra-Pure Bulk Gas Project has been established with a total investment of 500 million RMB, aimed at supplying a full range of electronic bulk gases to meet advanced semiconductor manufacturing requirements [4][6].