Very stable. Income is so fixed every year. And people's awareness of environmental protection will continue to improve, thus favoring gas and leaving coal. The decline in the real price of natural gas? The progress of natural gas power plant, natural gas chemical industry and LNG technology and the reduction of cost will all promote the growth of natural gas industry.

Reasons for hope:

(1) Fifteen years ago, no one expected that urbanization and gas popularization would be so fast. Therefore, the fund manager's forecast and our analyst's forecast of business volume are too conservative. We always predicted that the connection fee would disappear soon, but it didn't.

(2) In the past fifteen years, the connection fee rate has not changed much, and it is still around 2,000 yuan. However, the inflation in China is frightening, that is to say, the connection fee has been depreciating, which has stimulated demand and improved people's ability to pay. This is the same as the initial installation fee (and the subsequent cancellation of the initial installation fee).

(3) At present, the price of natural gas in China is still too high, partly because the long-term agreement signed by China is too high. However, with the increase of China's income, inflation continues to rage. Compared with our income and urban real estate, the price of natural gas is nothing at all. This is the same as the highway toll.

Ten years ago, highway tolls were too expensive. However, with millions and tens of millions of luxury houses in China, it is a piece of cake to pay a little highway toll.