Hangyang Investment is investing in the construction of three new air separation units

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Hangyang Co., Ltd. recently issued a announcement stating that at the 11th meeting of its sixth board of directors, held on December 14, the \"Proposal on the Company’s External Investments\" was approved. The board authorized Hangyang’s gas-related subsidiaries – Shanxi Hangyang Qianding Gas Co., Ltd. (Shanxi Hangyang), Jiangxi Hangyang Pinggang Gas Co., Ltd. (Pinggang Hangyang), and Henan Hangyang Gas Co., Ltd. (Henan Hangyang) – to carry out new air separation projects with capacities of 65,000 m3/h, 20,000 m3/h, and 30,000 m3/h respectively, building on their existing projects. These projects are intended to meet the needs of these subsidiaries for technical upgrades or to satisfy the increased demand for gas from their customers. The total estimated investment for these three projects is 625 million yuan. Specifically, the second-phase 65,000 m3/h air separation project in Shanxi Hangyang is expected to cost 355 million yuan, the second-phase 20,000 m3/h air separation project at Pinggang Hangyang is expected to cost 120 million yuan, and the third-phase 30,000 m3/h air separation project in Henan Hangyang is expected to cost 150 million yuan. The implementation of these projects will help enhance Hangyang’s competitiveness in the industrial gases sector. Basic information on the three investment projects: (1) The second-phase 65,000 m3/h air separation project built by Shanxi Hangyang ； To meet the needs of Shanxi Liheng Iron and Steel Group Co., Ltd. for technical upgrades, the increased gas supply required for its new project for producing ethylene glycol from coal gas, as well as its own technical improvements and the replacement of old equipment, Shanxi Hangyang plans to invest in building a new air separation unit with a capacity of 65,000 m3/h. (2) Pinggang Hangyang Phase II new 20,000 m3/h air separation project ； To meet the increased gas demand of Jiujiang Pinggang Iron and Steel Co., Ltd., Pinggang Hangyang plans to invest in building a new air separation unit with a capacity of 20,000 m3/h. (3) New 30,000 m3/h air separation project in Phase III of Henan Hangyang ； To meet the increased oxygen demand resulting from the expansion project of Anyang Iron and Steel Co., Ltd. under Angang Group, Henan Hangyang plans to invest in the construction of a new air separation unit with a capacity of 30,000 m3/h.