Core Viewpoint - Chongqing Tonghui Gas Co., Ltd. has significantly increased its foreign trade orders and export revenue, showcasing its growth and competitiveness in the specialty gas market [1][2]. Group 1: Company Overview - Chongqing Tonghui Gas was established in 2007 and is a national high-tech enterprise engaged in the research, production, sales, and storage of gases [1]. - The company produced over 600,000 tons of various gas products last year, exporting to more than 10 countries and regions, with export revenue exceeding 100 million yuan [1]. Group 2: Technological Innovation - The company has invested over 30 million yuan annually in R&D, focusing on electronic specialty gas and gas purification technologies [2]. - It has obtained 8 invention patents and over 100 utility model patents, expanding its product range from industrial-grade to food-grade and electronic-grade gases [2]. Group 3: Production Capacity and Efficiency - The company has established 8 production bases nationwide, ranking high in carbon dioxide production capacity in Western China and leading globally in nitrous oxide production capacity [2]. - Recent investments of over 30 million yuan in equipment updates have led to a 20% increase in production efficiency and a 25% reduction in costs [3]. Group 4: Market Expansion and Future Plans - The company has built a complete industrial chain for gas research, production, sales, and transportation, and is actively expanding its international presence [3]. - Future plans include focusing on innovation, market demand, and enhancing product value to capture a larger share of the high-end market [3].

证券研究报告 华特气体 (688268 CH) 25Q1 净利略降，产品端有序推进 风险提示：下游需求不及预期；新项目进度不及预期；原材料价格大幅波动。 | 投资评级(维持): | 增持 | | --- | --- | | 目标价(人民币): | 57.60 | | 研究员 | 庄汀洲 | | SAC No. S0570519040002 | zhuangtingzhou@htsc.com | | SFC No. BQZ933 | +(86) 10 5679 3939 | | 研究员 | 张雄 | | SAC No. S0570523100003 | zhangxiong@htsc.com | | SFC No. BVN325 | +(86) 10 6321 1166 | | 联系人 | 杨泽鹏 | | SAC No. S0570123070267 | yangzepeng@htsc.com | | | +(86) 755 8249 2388 | 基本数据 据 24 年报，销售方式方面，公司推进海外销售模式转型，加强欧洲、日韩、 东南亚等终端客户开发，24 年经销收入占比同比-7pct 至 22%，24 年公 ...