Guosheng Securities Research Report pointed out that the ongoing geographical conflict in the Middle East is disrupting Europe's natural gas supply, compounding that the progress of inventory replenishment is weak, and TTF gas prices are moving upward. As of October 9, Northeast Asia's LNG spot was 26.68 US dollars/million British baht; Dutch TTF futures were 81.71 euros/MWh; on October 13, TTF rose to a new high since December 2022. On October 13, TTF rose to a new high since December 2022, an increase of more than 18% during the month, with a price of 85.89 euros/MWh in recent months. The rise in overseas gas prices favors domestic upstream gas production and midstream trading companies. Focus on Shouhua Gas, Guanghui Energy, and Jiufeng Energy. The volume of dense gas and coalbed methane emissions from Shouhua Gas has strong profit elasticity; Guanghui Energy optimizes the scale of outsourcing, and Changxie's profit savings recovery expectations for the second half of the year; Jiufeng Energy's clean energy flexibility is prominent.

Guosheng Securities Research Report pointed out that the ongoing geographical conflict in the Middle East is disrupting Europe's natural gas supply, compounding that the progress of inventory replenishment is weak, and TTF gas prices are moving upward. As of October 9, Northeast Asia's LNG spot was 26.68 US dollars/million British baht; Dutch TTF futures were 81.71 euros/MWh; on October 13, TTF rose to a new high since December 2022. On October 13, TTF rose to a new high since December 2022, an increase of more than 18% during the month, with a price of 85.89 euros/MWh in recent months. The rise in overseas gas prices favors domestic upstream gas production and midstream trading companies. Focus on Shouhua Gas, Guanghui Energy, and Jiufeng Energy. The volume of dense gas and coalbed methane emissions from Shouhua Gas has strong profit elasticity; Guanghui Energy optimizes the scale of outsourcing, and Changxie's profit savings recovery expectations for the second half of the year; Jiufeng Energy's clean energy flexibility is prominent.