HK Stock Market Move | (02570) REFIRE, a new stock, surged more than 14% during trading hours, reaching a new high on the market. The company focuses on hydrogen fuel cell systems.

New stock REFIRE (02570) rose by more than 14%, reaching a high of 189.8 Hong Kong dollars, hitting a new high since its listing, up nearly 30% from the offer price of 147 Hong Kong dollars. As of the time of writing, it has risen by 12.71%, reaching 186.2 Hong Kong dollars, with a trading volume of 805.55 million Hong Kong dollars, and a total market value exceeding 16 billion Hong Kong dollars. It is reported that REFIRE focuses on the design, development, manufacturing, and sales of hydrogen fuel cell systems, hydrogen equipment, and related components, and provides hydrogen fuel cell engineering development services. According to data from Frost & Sullivan, in terms of the total output power of heavy-duty hydrogen fuel cell systems sold by 2023, total sales output power, and total sales revenue, REFIRE ranks first in the Chinese hydrogen fuel cell system market, with market shares of 23.8%, 42.4%, and 29.4% respectively. Sinolink research believes that under the goals of the "14th Five-Year Plan", the industry will enter a phase of rapid growth, with the volume doubling to drive the industry chain towards commercialization. With the promotion of policies, demonstration effects, and cost reduction in the industry chain, the industry will see continuous growth, focusing on integrated green hydrogen projects and fuel cell vehicles. Hydrogen energy is a key lever for achieving zero carbon emissions, and in the accelerated promotion process from upstream to downstream, there are promising investment opportunities in core components such as electrolyzers, hydrogen pipelines, compressors, hydrogen storage tanks, and fuel cell systems.