January 18, 2025 – Hang Yang Group Accelerates Gas Industry Layout with Strategic Acquisition
Hang Yang Group, aspiring to become a global leader in the gas industry, has kicked off the new year with renewed vigor, accelerating its layout within the sector. Recent announcements reveal the company’s plan to acquire Hangzhou New Century Mixed Gas Co., Ltd. (hereinafter referred to as “Hangzhou New Century”) for approximately RMB 134 million. This strategic move aims to inject new impetus into Hang Yang Group’s standard gas business and further broaden its industrial footprint in the gas sector.
For Hang Yang Group, this acquisition represents a strategic fill in its layout. Upon completion of the transaction, Hang Yang Group will hold a 51% equity stake in Hangzhou New Century, making it a consolidated subsidiary and including it within the consolidated financial statements. Zheng Wei, Party Secretary and Chairman of Hang Yang Group, expressed his anticipation, stating that the group is deepening internal market-oriented reforms and actively expanding its gas business layout. This acquisition will help aggregate high-quality resources in the gas industry, forming a more competitive industrial development advantage and propelling Hang Yang Group towards a path of higher-quality development with broader horizons.
Founded in 1999, Hangzhou New Century specializes in the research, development, and operation of various standard gases, special mixed gases, and electronic gases, occupying a prominent position in the domestic special gas field. According to AsiaMB, upon completion of the acquisition, Hang Yang Group will leverage Hangzhou New Century’s core technologies, patents, and product resources to rapidly expand the national standard gas market, making up for its own deficiencies in standard gas categories. Meanwhile, Hang Yang Group’s resource advantages will also provide a broader development stage for Hangzhou New Century, realizing mutual benefit, win-win cooperation, and coordinated development between the two parties.
In fact, intensifying investment and layout in the gas industry has become the main theme of Hang Yang Group’s external investment development. Previously, the group successfully acquired companies such as Xiate Electronics and Wanda Gas, filling the gap in electronic chemical gases and improving the special gas product system. In recent institutional research, Hang Yang Group clearly stated that it will continue to increase investment and mergers and acquisitions in the gas industry, centering around the strategic goal of “refining and optimizing equipment, and making the gas business bigger and stronger.” This acquisition will undoubtedly further enrich Hang Yang Group’s product mix and enhance its industrial chain strength.
In terms of project construction, Hang Yang Group has also been reporting frequent successes. In Inner Mongolia, Shandong, and other regions, key projects in which the group participates have made significant progress. Especially in the Yulong Petrochemical Industrial Park in Yantai City, Shandong Province, group employees braved the wind and snow to complete the final commissioning of the third 82,000 Nm³/h air separation unit project of Shandong Yulong Hang Yang Gas Co., Ltd., successfully producing oxygen. In addition, breakthrough progress has been made in the six 110,000 Nm³/h air separation units provided by Hang Yang Group for the Baofeng Energy Coal-to-Olefins Demonstration Project in Erdos, Inner Mongolia. New orders have also been pouring in. Recently, Hang Yang Group signed a contract for a set of ultra-large air separation equipment with Xinjiang Haoyuan Chemical Co., Ltd., and also achieved a breakthrough in air separation orders for green methanol projects.