HK Stock Market Move | GUOFUHEE (02582) rose another 14% on its second day of listing, already 37% higher than its IPO price. The company is China's leading manufacturer of hydrogen energy storage and transportation equipment.

GUOFUHEE (02582) rose by 14% on the second day of its listing, reaching a high of HK$89.05 during trading, up over 37% from the IPO price of HK$65. As of the time of writing, it is up 10% at HK$85.8, with a trading volume of HK$113.11 million. It is reported that GUOFUHEE is a leading Chinese manufacturer of hydrogen energy storage and transportation equipment. The company researches and manufactures core hydrogen equipment along the entire industry value chain for hydrogen production, storage, transportation, refueling, and usage. The company focuses on the development of China's transportation sector, developing and manufacturing 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). According to the sales forecast for on-board high-pressure hydrogen supply systems in China by 2023, the company ranks first with a market share of 30.4%. Cinda stated that the hydrogen energy industry is still in its early stages of development, with significant cost reduction potential in the upstream green hydrogen production sector. With policy support and the acceleration of localization of key components in fuel cell vehicles, the future market prospects are promising. It is expected that the electrolyzer market is wide, and rapid development is anticipated in the downstream segments of complete vehicles and key components.