HK Stock Market Move | GUOFUHEE (02582) rises over 9% to a new high. The company is a manufacturer of hydrogen energy storage and transportation equipment. Institutions say the hydrogen energy industry is expected to see a surge in trading volume.

GUOFUHEE (02582) rose more than 9% in the afternoon, reaching a high of HK$121.8, hitting a new high since its listing. As of the publication of this article, it rose by 9.73% to HK$121.8, with a trading volume of HK$12.126 million. Public information shows that GUOFUHEE is a leading Chinese manufacturer of hydrogen energy storage and transportation equipment. The company researches and manufactures core equipment for the entire hydrogen energy value chain, used in the production, storage, transportation, refueling, and utilization of hydrogen energy. The company focuses on the development of China's transportation sector, developing and manufacturing core components of hydrogen fuel cell vehicles (i.e., onboard high-pressure hydrogen supply systems) and equipment for hydrogen transportation infrastructure (i.e., hydrogen refueling stations). According to the sales volume forecast for onboard high-pressure hydrogen supply systems in 2023, the company ranks first with a market share of 30.4%. Sinolink pointed out that 2024 will be a year of preparation for the hydrogen energy industry. With the triple driving forces of policy promotion, demonstration effects, and industrial cost reduction, next year will see an increase in production volume, driving the industry towards commercialization. Looking at the national targets for 2025, the gap in green hydrogen projects is between 9-10 thousand tons (with a current inventory of 11 thousand tons), and the gap in fuel cell vehicles is 25 thousand vehicles (with a current inventory of 25 thousand vehicles). Both green hydrogen projects and fuel cell vehicles are expected to double in volume. Take advantage of the two major trends in green hydrogen integration projects and fuel cells: the explosive growth in project scale and opportunities for upstream hydrogen production equipment and green operators brought by integration; opportunities in fuel cell vehicle components under the combination of targets, subsidies, and demonstrations.