HK Stock Market Move | SINOSYNERGY (09663) rose nearly 20% in the afternoon. The company participated in the construction of the first hydrogen-powered container ship. The company said that the release of production capacity requires a transition period.

SINOSYNERGY (09663) rose nearly 20% in the afternoon, up 19.54% as of the time of writing, at HK $26, with a turnover of HK$6.476 million. On the news front, on September 3, the first 64TEU hydrogen-powered container ship in the country officially started construction at the Hedong Shipyard in Zhejiang, marking a substantial progress in the construction of hydrogen-powered ships in the Jiaxing Port area. The ship, powered solely by hydrogen fuel, is equipped with a hydrogen power system provided by SINOSYNERGY, marking a significant breakthrough for the company in the field of heavy-duty green shipping. Prior to this, SINOSYNERGY released its interim performance, with revenue of RMB 133 million in the first half of the year, a decrease of 37.34% year-on-year; the company's attributable net loss was RMB 212 million, an increase of 70.77% year-on-year. The announcement stated that the decrease in revenue was mainly due to the fact that the hydrogen fuel cell industry in which the group operates is still in the early stages of commercialization, leading to fluctuations in operating performance; and in the first half of the year, the company's new products were in the stage of mass production introduction, and the release of production capacity requires a transition period, leading to a decrease in sales of hydrogen fuel cell systems.