天眼查显示，近日，海南经安国际能源有限公司成立，法定代表人为陈立基，注册资本10000万人民 币，由子午线环球贸易有限公司全资持股。 序号股东名称持股比例1子午线环球贸易有限公司100% 经营范围含许可经营项目：燃气经营；白银进出口；黄金及其制品进出口；保税物流中心经营（许可经 营项目凭许可证件经营）一般经营项目：煤炭及制品销售；货物进出口；技术进出口；进出口代理；食 品进出口；食品销售（仅销售预包装食品）；石油制品销售（不含危险化学品）；非金属矿及制品销 售；金属矿石销售；有色金属合金销售；金属制品销售；建筑用钢筋产品销售；化工产品销售（不含许 可类化工产品）；专用化学产品销售（不含危险化学品）；石油钻采专用设备制造；石油钻采专用设备 销售；环境保护专用设备制造；环境保护专用设备销售；机械设备销售；计算机软硬件及外围设备制 造；计算机软硬件及辅助设备零售；软件开发；集成电路芯片及产品销售；轻质建筑材料销售；建筑装 饰材料销售；电线、电缆经营；五金产品零售；灯具销售；家用电器销售；日用百货销售；办公用品销 售；通讯设备销售；电子产品销售；集成电路芯片设计及服务；初级农产品收购；食用农产品初加工； 食用农产品零 ...

企业名称中琚（七台河）能源科技有限公司法定代表人李庆伟注册资本10000万人民币国标行业电力、 热力、燃气及水生产和供应业>燃气生产和供应业>燃气生产和供应业地址黑龙江省七台河市勃利县经 济开发区现代农业产业园综合办公楼二楼企业类型有限责任公司（非自然人投资或控股的法人独资）营 业期限2025-11-26至无固定期限登记机关勃利县市场监督管理局 来源：市场资讯 天眼查显示，近日，中琚（七台河）能源科技有限公司成立，法定代表人为李庆伟，注册资本10000万 人民币，由中琚（上海）科技有限公司全资持股。 序号股东名称持股比例1中琚（上海）科技有限公司100% 经营范围含技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广。许可项目：燃气经营； 生物质燃气生产和供应；燃气汽车加气经营；道路危险货物运输。 ...

Core Viewpoint - The gas production and supply industry in China is experiencing growth, with an increase in the number of enterprises and a positive outlook for investment opportunities from 2026 to 2032 [1] Industry Summary - As of January to September 2025, the number of enterprises in the gas production and supply industry reached 4,328, marking an increase of 301 enterprises compared to the same period last year, representing a year-on-year growth of 7.47% [1] - The gas production and supply industry accounts for 0.83% of the total industrial enterprises in China [1] Company Summary - Listed companies in the gas sector include Shengli Co., Ltd. (000407), Delong Huineng (000593), ST Jinhong (000669), Shengtong Energy (001331), ST Shengda (002259), Shanxi Natural Gas (002267), Xin'ao Co., Ltd. (600803), Guizhou Gas (600903), Chongqing Gas (600917), Shenzhen Gas (601139), and Chengdu Gas (603053) [1]

Core Viewpoint - Victory Co., Ltd. (胜利股份) has announced a plan to issue shares and pay cash to acquire gas-related assets controlled by its major shareholder and related parties, leading to a significant stock price increase of 10.05% to 4.16 yuan per share [1][2]. Group 1: Transaction Details - The transaction involves acquiring 100% equity of Zhongyou Zhuhai, 100% equity of Tianda Shengtong, and 51% and 40% equity of Nantong Zhongyou and Ganhe Zhongyou, respectively [2]. - The final transaction price and the number of shares to be issued are yet to be determined, pending the completion of auditing and evaluation [2][3]. - The share issuance price for the acquisition has been set at 3.07 yuan per share [3]. Group 2: Fundraising and Use of Proceeds - The company plans to raise funds through a private placement to no more than 35 specific investors, with the total amount not exceeding 100% of the transaction price for the asset acquisition [3][4]. - The raised funds will be used for cash payments for the transaction, supplementing working capital, repaying bank loans, and project construction [4]. Group 3: Financial Performance - The financial data for the target companies shows a decline in revenue from 30.68 billion yuan in 2023 to 16.16 billion yuan in the first nine months of 2025, with net profit also fluctuating [6]. - Victory Co., Ltd. reported revenues of 4.645 billion yuan in 2023, with a slight increase to 4.677 billion yuan in 2024, and a decrease to 4.226 billion yuan in the first nine months of 2025 [7]. Group 4: Company Background - Victory Co., Ltd. was established in 1994 and is primarily engaged in gas production and supply, with a registered capital of approximately 8.8 billion yuan [8].

Group 1: Lingzhi Software - Lingzhi Software announced a major asset restructuring plan to acquire 100% equity of Kaimeiride through issuing shares and cash payments, along with raising supporting funds [1][4] - The transaction is expected to enhance Lingzhi Software's revenue and net profit, while reducing reliance on the Japanese market and improving responsiveness to domestic financial institutions' needs [3][4] - The company reported revenues of 6.96 billion, 11.14 billion, and 7.63 billion for the years 2023, 2024, and the first three quarters of 2025, respectively, with net profits of 865.27 million, 1.24 billion, and 967.46 million [2][3] Group 2: Victory Co., Ltd. - Victory Co., Ltd. plans to acquire gas-related assets controlled by its major shareholder and related parties through issuing shares and cash payments, which will include 100% equity of Zhongyou Zhuhai and Tianda Shengtong, among others [1][5][7] - The company reported revenues of 46.77 billion, 42.26 billion, and 30.42 billion for the years 2023, 2024, and the first three quarters of 2025, respectively, with net profits of 1.53 billion, 1.17 billion, and 1.2 billion [5][6] - The transaction is expected to enhance the company's core competitiveness and market position in the gas industry, while not changing the control structure of the company [6][7]

Core Insights - The article discusses the growth and export performance of China's gas production and supply industry, highlighting significant increases in export value from 2019 to September 2025 [1] Industry Overview - The gas production and supply industry in China is projected to see an export value of 340 million yuan in September 2025, representing a year-on-year growth of 16.1% [1] - Cumulatively, the export value for the first nine months of 2025 is expected to reach 3.26 billion yuan, with a year-on-year increase of 25.3% [1] Company Insights - The article lists several companies involved in the gas production and supply sector, including Victory Co., Ltd. (000407), Delong Energy (000593), ST Jinhong (000669), and others [1] - These companies are positioned to benefit from the overall growth trends in the gas industry as indicated by the export statistics [1]

Policy Insights - The "Three Assets" reform of state-owned enterprises (SOEs) is expected to initiate a new wave of mergers and acquisitions (M&A) in the state sector, with a focus on asset securitization[3] - Hubei and Anhui provinces are leading the reform efforts, with specific actions planned from September to December 2025 to enhance asset management and debt linkage[3][17] - The core principles of the reform include maximizing the assetization of state resources, securitization of state assets, and leveraging state funds[15] Investment Opportunities - Potential M&A targets include central state-owned enterprises (SOEs) with low asset securitization rates and strong restructuring intentions, particularly in sectors like defense, utilities, and transportation[4][24] - Local SOEs with recent changes in ownership, capital operations, or urgent M&A intentions are also recommended for investment consideration[4][24] Market Performance - The A-share market saw a general increase, with mid-cap indices like the CSI 500 and CSI 1000 outperforming large-cap indices such as the SSE 50 and CSI 300, with respective increases of +1.00% and +1.18%[30] - The lithium battery electrolyte index recorded the highest weekly increase of 17.12%, with top performers including Tianji Co. (+41.86%) and Haike New Source (+39.42%)[30][34] Key Recommendations - Focus on sectors such as smart vehicles and high-end manufacturing, with specific stocks like Hu Guang Co., Rui Hu Mould, and Ao Lai De recommended for their growth potential[6][36] - The report highlights the importance of identifying companies with significant restructuring potential and those that can benefit from the upcoming M&A wave in the state sector[4][24] Risk Factors - Potential risks include changes in macroeconomic conditions, IPO policies, refinancing policies, and M&A regulations that could impact the market dynamics[7]

Core Insights - Xinjiang's economy has shown overall stability and progress in the first three quarters of the year, with a year-on-year increase in industrial added value of 7.3% [1] Economic Performance - The industrial added value growth is categorized into three main sectors: manufacturing (10.9%), mining (6.0%), and electricity, heat, gas, and water production and supply (3.2%) [1] - By economic type, the added value growth for state-owned enterprises, private enterprises, and joint-stock enterprises is 3.1%, 6.6%, and 7.6% respectively [1] Key Industries - Among 12 key industries, notable growth includes: - Non-ferrous metal mining and selection (37.6%) - Textile industry (26.8%) - Non-ferrous metal smelting and rolling processing (18.0%) - Gas production and supply (12.4%) - Chemical raw materials and chemical products manufacturing (11.4%) - Petroleum, coal, and other fuel processing (10.1%) [1] Private Sector Performance - The added value of private enterprises in the industrial sector has increased by 15.8%, surpassing the overall industrial added value growth by 8.5 percentage points [1]

Core Insights - The gas production and supply industry in China has seen an increase in the number of enterprises, with a total of 4,319 companies reported from January to August 2025, marking an increase of 324 companies or 8.11% year-on-year [1][1][1] Industry Overview - The gas production and supply sector's share of total industrial enterprises stands at 0.83% as of the reported period [1][1][1] - The threshold for scale enterprises in this sector has been raised from an annual main business income of 5 million yuan to 20 million yuan since 2011 [1][1][1] Market Research - The report titled "2025-2031 China Urban Gas Production and Supply Industry Market Deep Assessment and Investment Opportunity Forecast" was published by Zhiyan Consulting, a leading industry consulting firm in China [1][1][1] - Zhiyan Consulting has been engaged in industry research for over a decade, providing comprehensive industry research reports, business plans, feasibility studies, and customized services [1][1][1]

Core Insights - The Shanghai Municipal Market Supervision Administration conducted a quality inspection of liquefied petroleum gas (LPG) products, testing 20 batches with no non-compliance found [2] Group 1: Inspection Results - All 20 batches of LPG products tested were found to meet relevant quality standards, indicating a strong compliance rate [2] - The inspection included 2 batches from production and 18 batches from retail sales, all sourced from within Shanghai [2] Group 2: Regulatory Framework - The inspection was organized based on the SHSSXZ0199-2025 guidelines for quality supervision of LPG products in Shanghai [2]