Huatai Securities issued a research report on Hangyang shares and pointed out that the semiconductor gas supply project has landed for the first time, and it is optimistic about the company's strategic layout and medium and long-term growth capabilities. Announcement on July 26:

　　1) The company signed the "Industrial Gas Supply Contract" with Qingdao Xinen, and the company's first gas supply project serving the electronics industry was launched;

　　2) Increased capital by 70 million yuan in Jiangyang, a wholly-owned subsidiary, to improve its technological level and manufacturing capacity.

We believe that the Qingdao Hangyang Project is a major breakthrough for the company to enter semiconductor gases, confirming the strength of special gas equipment manufacturing and project operation. The company is expected to fully benefit from the continuous expansion of China's semiconductor, photovoltaic, panel and other emerging industries. Opportunities. Although the 2019H1 retail gas price has fallen year-on-year or will impose short-term constraints on performance, the company's gas business's general trend of steady expansion has a solid foundation and continues to be optimistic about the company's medium and long-term growth capabilities. It is estimated that the EPS will be 0.82, 0.90, and 0.98 yuan in 19-21, with an "overweight" rating.