HK Stock Market Move | GUOFUHEE (02582) rises nearly 6% to reach a new high, doubling its listing price. The company is a leading manufacturer of hydrogen energy storage and transportation equipment in China.

GUOFUHEE (02582) rose nearly 6%, reaching a high of 133 Hong Kong dollars in intraday trading, hitting a new high since its listing, doubling from its IPO price of 65 Hong Kong dollars. As of the time of writing, it has risen 5.58% to 132.5 Hong Kong dollars, with a turnover of 13.9951 million Hong Kong dollars. Public information shows that GUOFUHEE is a leading Chinese manufacturer of hydrogen energy storage and transportation equipment. The company researches and manufactures core equipment across the entire industry value chain for hydrogen energy production, storage, transportation, refueling, and utilization. The company focuses on the development of China's transportation sector, developing and manufacturing core components of hydrogen fuel cell vehicles (i.e. on-board high-pressure hydrogen supply systems) and equipment for hydrogen transportation infrastructure (i.e. refueling stations). 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%. Citic Securities International pointed out that the Ministry of Industry and Information Technology issued a notice to organize the unveiling of the 2025 future industrial innovation tasks, including the innovative development of the clean hydrogen industry, studying and forming a set of complete clean hydrogen production, storage, transportation, and utilization technologies and equipment, promoting the application of clean hydrogen in areas such as transportation, metallurgy, and chemical industry. The bank noted that policies continue to drive the industrialization of hydrogen energy, and green hydrogen is expected to open up applications in the chemical, alcohol, and ammonia industries. It is recommended to pay attention to electrolyzer production companies with cost and technological advantages, as well as fuel cell, hydrogen storage and transportation, and refueling equipment companies benefiting from the construction of hydrogen energy infrastructure.