First day of new shares | GUOFUHEE (02582) listed for the first time, opening 26.62% higher in the morning session.

GUOFUHEE (02582) has been listed for the first time. The announcement shows that the price per share is 65 Hong Kong dollars, with a total issuance of 6 million shares and 100 shares per lot. The net proceeds are expected to be around 343 million Hong Kong dollars. As of the time of writing, the stock has risen by 26.62% to 82.3 Hong Kong dollars, with a trading volume of 21.93 million Hong Kong dollars. It is reported that GUOFUHEE is a leading Chinese manufacturer of hydrogen energy storage and transportation equipment. The company focuses on the research and development and manufacturing of core equipment for the entire industry value chain of hydrogen energy, for the production, storage, transportation, refueling, and utilization of hydrogen. The company is primarily focused on the development and manufacturing of core components for hydrogen fuel cell vehicles (i.e. on-board high-pressure hydrogen supply systems) and equipment for hydrogen transportation infrastructure (i.e. hydrogen refueling stations) in the transportation sector of China. According to the sales volume forecast for on-board high-pressure hydrogen supply systems in China by 2023, the company ranks first with a market share of 30.4%. Financially, in the fiscal years 2021, 2022, 2023, and the five months ending May 31, 2024, GUOFUHEE's revenue is approximately 329 million, 359 million, 522 million, 45.155 million, and 64.289 million yuan, respectively; while the gross profit during the same period is 31.772 million, 39.022 million, 93.365 million, 2.618 million, and 1.254 million yuan, respectively.