Core Viewpoint - The gas sector experienced significant fluctuations on the 17th, with notable stock performances from companies like Guo Xin Energy and Changchun Gas, indicating a bullish trend in the market [1] Industry Summary - By the first half of 2025, domestic gas production is expected to maintain a steady growth trend, but there will be a noticeable gap between production and sales, leading to a high dependency on natural gas imports [1] - Due to a warm winter, natural gas consumption has slightly decreased, resulting in insufficient growth momentum on the demand side, which has affected the LNG import scale, causing a decline [1] - The construction of gas storage facilities, such as storage tanks and LNG receiving stations, is progressing well, enhancing supply security; however, the insufficient peak-shaving capacity of storage remains a shortcoming [1] - In the second half of 2025, with multiple gas sources supporting the market, natural gas supply in China is expected to be relatively sufficient, and demand may see a slight rebound, leading to a more stable supply-demand balance [1]