Report Summary: Green Energy Hi-Tech focuses on commercialization of LNG and has the advantage of rich resources: Green Energy Hi-Tech is a specialized company integrating LNG and LCH4 production and sales, scientific research and development, and technology application, and is the first company in China to commercialize LNG. It has established many firsts in the industry, has more than 20 national patents, more than 40 proprietary technologies, and more than 200 scientific research and engineering technology professionals, and has leading domestic technical reserves and R&D capabilities. In places such as Shan, Ning, Inner Mongolia, and Yu, it has obtained 2 billion m3/year of natural gas resources, has formed a production capacity of 1.5 billion m3/year, is about to increase natural gas resources by 3.5 billion m3/year, and has developed LNG terminal markets in many places. The company cooperates with Green Energy Hi-Tech to complement each other's strengths. The intention is to enter the booming LNG sector, which will turn clean energy into a new profit growth point. The cooperation agreement between the company and Green Energy Hi-Tech mainly includes three aspects, namely cooperation in LNG liquefaction plants, cooperation in LNG storage and transportation, and cooperation in the field of LNG gas stations. We believe that the company's advantage lies in downstream storage and transportation services for liquefied chemicals, while Green Energy Hi-Tech is strong in terms of upstream resources and technology. Combining the two strengths and complementing each other's advantages to expand the layout of the entire upstream and downstream LNG industry chain is truly mutually beneficial and win-win, which is conducive to improving the company's industrial layout, enhancing profitability, and creating new profit points. Performance contributions depend on substantial progress of cooperation. Short-term impact is limited, and there is broad scope for long-term imagination. At present, the cooperation between the company and Green Energy Hi-Tech is still in the intention stage. There has been no substantial progress, and the short-term impact is limited. However, we are optimistic about the company's strategy of using its accumulated advantages related to liquefied chemical storage and transportation to expand related business areas. We only consider the current LNG production capacity of 1.5 billion m3/year. Its storage business demand exceeds 1 million tons/year, and the storage cost exceeds 45 million yuan/year. The future production capacity will reach 5 billion cubic meters, and cooperation includes liquefaction and gas filling stations, etc., so there is plenty of room for imagination. EPS for 14-15 is expected to be 0.48 yuan and 0.54 yuan, corresponding to the current stock price of 40x14PE, respectively. The valuation is too high. Considering that the increase in tank capacity utilization is highly flexible, and the cooperation with Green Energy Hi-Tech enters the booming LNG industry chain, the development space has been greatly expanded, and it should enjoy a certain valuation premium, so it will continue to maintain an “gain” rating