New stock news: Guo Fu Hydrogen Energy has again submitted an application to the Main Board of the Hong Kong Stock Exchange to research, develop, and manufacture core hydrogen equipment that covers the entire industry value chain.

According to the disclosure made by the Hong Kong Stock Exchange on September 20th, Jiangsu Guofu Hydrogen Energy Technology Equipment Co., Ltd. (hereinafter referred to as "Guofu Hydrogen") once again submitted an application to the Hong Kong Stock Exchange Main Board, with HAITONG INT'L and CITIC SEC serving as its joint sponsors. The prospectus reveals that Guofu Hydrogen is a leading manufacturer of hydrogen energy storage and transportation equipment in China. The company researches and manufactures core equipment for the entire industrial value chain of hydrogen energy, used for its production, storage, transportation, refueling, and utilization. The company is strategically located in the Yangtze River Delta region, with convenient transportation, close to ports, and abundant supply chain resources. Since its establishment, the company has focused on the development of China's transportation sector, developing and manufacturing core components for hydrogen fuel cell vehicles (i.e., onboard high-pressure hydrogen supply systems) and equipment for hydrogen transportation infrastructure (i.e., hydrogen refueling stations). Currently, the company mainly provides onboard high-pressure hydrogen supply systems equipped with Type III hydrogen storage tanks, available in two pressure specifications of 35 MPa and 70 MPa. Based on the sales volume forecast for China's onboard high-pressure hydrogen supply systems in 2023, the company ranks first with a market share of 23.6%. As of the fiscal years ending on December 31, 2021, 2022, and 2023, and the five months ending on May 31, 2024, the majority of the company's revenue comes from onboard high-pressure hydrogen supply systems and related products, as well as hydrogen refueling station equipment and related products. Revenue generated from onboard high-pressure hydrogen supply systems and related products accounted for approximately 57.5%, 76.7%, 57.6%, 71.8%, and 40.8% of total revenue by the end of the respective periods. During the same period, revenue generated from hydrogen refueling station equipment and related products accounted for 42.5%, 23.3%, 23.6%, 24.2%, and 59.2% of total revenue, respectively. The company also generated revenue from two new product types in 2023. As of the fiscal year ending on December 31, 2023, the remaining 18.8% of total revenue came from sales of hydrogen liquefaction and liquid hydrogen storage and transportation equipment, as well as water electrolysis hydrogen production equipment and related products. For the five months ending on May 31, 2023, the remaining 4.0% of total revenue came from sales of water electrolysis hydrogen production equipment and related products.