杭氧股份(002430) - 2023年11月23日投资者关系活动记录表

Group 1: Company Overview and Investor Relations - The company is Hangzhou Oxygen Plant Group Co., Ltd., with stock code 002430 [1] - The investor relations activity took place on November 23, 2023, in Hangzhou, involving various investment institutions [2] Group 2: Project and Market Insights - The main challenge for clients switching gas suppliers after project expiration is the need for significant land reorganization [2] - The impact of downstream cyclical fluctuations on the gas business is minimal compared to the equipment manufacturing sector, especially as the gas business share increases [2] - The overall operating rate of downstream customers in the gas pipeline sector has been normal, with some projects undergoing early maintenance [2] Group 3: Demand and Competitive Advantage - Gas demand is generally correlated with GDP, and while total gas usage is increasing, the proportion of different downstream industries will change [3] - The company possesses strong R&D and manufacturing capabilities, a complete engineering capacity, and a well-established reputation in the gas market [3] - The primary risk in gas investment projects is the ongoing operational risk of users, necessitating thorough due diligence to assess project feasibility [3] Group 4: Future Growth and Strategic Planning - The company anticipates growth in gas business scale as ongoing projects come online [4] - Future gas project liquid output is determined by local retail gas market factors [4] - The company is increasing investments in equipment exports and has initiated its first overseas gas investment project [4] - Plans for gas investment in the next two to three years will depend on market demand and competitive conditions [4]