Although the economy of China returns to a somewhat stable situation with a GDP growth of 6.9% in 2017, the problem of redundant production capacities has not been completely solved, and the annual results of 2017 of gas equipment manufacturers show varied performances.
Below is the summary of the annual reports of some of the listed equipment companies in the gas industry.
HANGYANG
Hangzhou Hangyang Co Ltd, the largest air separation and cryogenic equipment manufacturer in China, has reported that their annual turnover has increased 30.5% from RMB 4944.5m ($786.2m) in 2016 to RMB 6451.8m ($1025.8m) in 2017. They have recovered from a deficit of RMB 282.6m ($ 44.9m) in 2016 to a profit of RMB 360.7m ($57.4m) in 2017, giving a 227.6m% increase.
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