CITIC Securities: Gas companies with domestic helium resources and long-term overseas helium contracts are expected to gain high-profit flexibility.

On March 31, Sina Finance reported that according to a research report from CITIC Securities, the global growth in helium demand brought by the semiconductor and commercial aerospace industries aligns with existing market understanding. The core impact of the Middle East conflict on Qatar's helium production and transportation makes the redistribution and inventory depth of helium resources importing regions the core factors to address this change, and also the key factor determining the direction of helium prices. If geopolitical conflicts escalate and the closure of the Strait of Hormuz continues, CITIC Securities believes that Russia and Algeria may gain more market share in China's helium market, and the price of helium may experience a significant increase in the case of tight domestic industrial chain inventories. Gas companies with domestic helium resources and long-term contracts overseas may obtain high profit elasticity, and companies with helium recovery and recycling business may also benefit.