证券日报网讯蜀道装备（300540）11月19日在互动平台回答投资者提问时表示，公司密切关注半导体等 高端制造领域对特种气体不断增长的需求，正积极布局高纯及电子级特种气体业务。目前，公司主营业 务涵盖LNG装置、空分装置、氢能设备及交通装备等，在工业气体运营方面主要供应二氧化碳、氧氮 氩等大宗气体，并已开展氦气等特种气体的供应业务。受能源成本上升及下游高端制造需求回暖等因素 影响，2025年下半年以来部分工业气体价格呈现温和上涨态势，公司通过优化供应链管理等方式，积极 保障客户稳定供应并维持合理盈利水平。 ...

Core Insights - Hangyang Co., Ltd. has been deeply involved in the CCUS (Carbon Capture, Utilization, and Storage) field for many years, developing scalable CO2 capture and food-grade CO2 production technologies, while also keeping an eye on emerging sectors [1] - The company is strategically positioned to support China's 14th Five-Year Plan, which emphasizes the development of strategic emerging industries, including biomanufacturing and quantum technology [1] - Hangyang is leveraging its dual-engine strategy of "air separation equipment + gas business" to drive technological upgrades and enhance the industrial ecosystem [1][5] CCUS and Hydrogen Energy - The company has established a comprehensive hydrogen energy business, focusing on hydrogen production, purification, storage, and transportation, and has initiated a project in collaboration with Longze Energy and Shanghai Hydrogen Feng to produce high-purity hydrogen for fuel cell vehicles [2] - The project will have a capacity of 2825 Nm³/h for hydrogen production from coke oven gas, contributing to the development of a clean, low-carbon hydrogen energy system [2] Aerospace Industry Engagement - Hangyang has a long-standing relationship with China's aerospace industry, having been a key supplier of liquid oxygen equipment since the 1950s, and continues to provide critical products and technologies for space missions [3] - The company recently won a bid for a large liquid oxygen tank construction project at a launch site, enhancing the storage capacity and efficiency for aerospace operations [3] Nuclear Fusion and Advanced Manufacturing - The nuclear fusion market is projected to grow significantly, with estimates suggesting a market size of approximately $361.56 billion by 2025 and over $647.5 billion by 2035, indicating a strong future for this energy source [3] - Hangyang's recent success in winning a bid for a low-temperature nitrogen system project in the nuclear fusion sector highlights its growing capabilities and recognition in this field [4] Semiconductor and Specialty Gases - The company has expanded its presence in the semiconductor and specialty gases market through acquisitions, enhancing its competitive edge in high-end gas products [4] - Hangyang's helium products are widely used in advanced manufacturing sectors, including semiconductors and aerospace, and it has secured contracts to supply critical gases for major semiconductor projects [4]

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, with revenue reaching 205 million yuan, a year-on-year growth of 35.24%, and net profit amounting to 10.15 million yuan, a staggering increase of 5972.30% [1] Group 1: Business Performance - The company secured new contracts worth approximately 438 million yuan, including overseas orders valued at around 13 million dollars [1] - The deep-cooling technology equipment manufacturing segment achieved new signed effective contracts totaling about 424 million yuan, focusing on products such as natural gas liquefaction devices and LNG refueling stations [1] - The transportation service equipment manufacturing segment accelerated product development, successfully launching new distribution equipment and enhancing the product range for charging stations [1] Group 2: Gas Operations - In the industrial gas sector, the company continues to provide nitrogen supply equipment leasing and operation management services to Sichuan Shuneng Mining Co., Ltd., and collaborates with internal units of Shudao Group on various industrial gases [2] - The company ensures stable supply for the Inner Mongolia Yahui BOG helium project and has developed a high-altitude oxygen supply system for a hotel at 3300 meters elevation [2] Group 3: Clean Energy Initiatives - The LNG business is focused on deepening cooperation with upstream liquid plants and downstream customers while expanding sales in other clean energy sectors [3] - The company is actively involved in hydrogen energy projects, including the preparation of a proposal for a hydrogen railway demonstration application project and participation in a national key research and development project [3]

Core Viewpoint - The company is actively expanding its overseas market presence, with nearly 40% of current orders coming from international clients and over 50% of new orders signed this year being from overseas [3]. Group 1: Company Performance - As of July 31, 2025, the company's stock price closed at 15.51 yuan, reflecting a 1.17% increase, with a turnover rate of 2.35% and a trading volume of 86,500 shares, amounting to a transaction value of 134 million yuan [1]. - The company has not yet disclosed its second-quarter performance, with investors advised to await the upcoming semi-annual report for detailed financial results [2][3]. Group 2: Product and Market Development - The company produces liquid oxygen coolers that enhance rocket payload capacity and has entered the Chinese aerospace system with its independently operated specialty gases [2]. - The company has successfully operated air separation devices in high-altitude areas like Tibet, addressing challenges related to oxygen supply in harsh environments [2]. - The company is involved in ammonia methanol projects, claiming to have a mature technology path and successful operational experience, contributing to the "dual carbon" goals [2]. Group 3: Financial and Market Dynamics - The company anticipates that the recent drop in natural gas futures prices to $3, a near five-year low, will have a limited short-term impact on its gas segment profits due to existing annual procurement contracts with major suppliers [2]. - The company has experienced a decline in revenue for two consecutive years, prompting concerns about market participation and the need for enhanced company value management and promotion [2][3]. Group 4: Investor Relations - The company acknowledges the importance of improving operational efficiency and increasing promotional efforts to enhance its value for investors [3].

Core Viewpoint - The company has successfully operated air separation units in high-altitude areas of Tibet, addressing challenges related to oxygen supply in harsh environments [1] Group 1 - The company has optimized the design process of air separation equipment to account for the low pressure and high altitude conditions in Tibet [1] - Specialized liquid air separation units have been developed specifically for projects in Tibet, significantly alleviating the difficulties of oxygen supply and delivery in cold and high-altitude regions [1] - The solutions provided by the company ensure that downstream customers have reliable access to gas supply [1]

Core Viewpoint - The article highlights the achievements and contributions of Guan Jinjun, a key figure at Anhui Haoyuan Chemical Group Co., Ltd., particularly in the development and optimization of various chemical production processes, leading to significant economic and environmental benefits for the company. Group 1: Project Management and Implementation - In 2011, the company launched its first 20,000 cubic meters/hour air separation unit, with Guan leading a team to meticulously analyze design blueprints and operational procedures, ensuring thorough documentation for future training [2] - From 2016 to 2018, Guan was actively involved in the construction of a 70,000 cubic meters/hour air separation unit, successfully reducing the commissioning time by over one month compared to similar projects, establishing a benchmark in the industry [2] - Between 2018 and 2020, Guan introduced a "dual-line parallel work method" during the construction of a new project, which facilitated timely production and efficiency of a 90,000 cubic meters/hour air separation unit [2] Group 2: Innovation and Cost Optimization - Guan has led significant innovations in production processes, resulting in substantial economic and environmental benefits for the company [4] - In the crude argon recovery process, his team optimized the air separation tower, increasing liquid argon output by 1.5 tons per hour, generating an annual revenue of 6.48 million yuan [4] - The optimization of the methanol synthesis system led to a 47.1% reduction in system circulation and a 10.5 tons/hour decrease in steam consumption, saving the company 13 million yuan annually [4] - In the cooling water system, Guan proposed a tiered utilization plan that saved over 20 million yuan in electricity costs and reduced wastewater fees by 15 million yuan annually [4] Group 3: Recent Developments - By the end of 2023, Guan was responsible for the construction and commissioning of a new nylon 66 project, completing it two months ahead of schedule, thereby contributing to the company's high-quality development [3]