HK Stock Market Move | GUOFUHEE (02582) rose nearly 5% in the early trading, joining hands with Siemens to expand the European electrolytic cell market.

GUOFUHEE (02582) rose nearly 5% in early trading. As of the writing, it had risen 4.9% to HK$150, with a turnover of HK$7.808 million. On the news front, on February 12th, Siemens, GUOFUHEE, and part of the German company RCT GH Hydrogen of the National Wealth Department signed a Memorandum of Understanding (MOU). According to the MOU, GUOFUHEE designated Siemens as its preferred supplier and technical partner for its entire expansion plan, including establishing production and hydrogen production bases in Germany. The cooperation between the three parties covers various key areas: in the development and engineering of electrolyzers, Siemens will use its technical expertise to assist GUOFUHEE in jointly developing more efficient and scalable electrolyzers and related systems; in the construction of new factories, starting in Germany, Siemens will provide equipment for GUOFUHEE's new electrolyzer manufacturing plant to facilitate its manufacturing capabilities in Europe; the three parties will also collaborate to develop, build, and operate new hydrogen production plants, promoting the development of the green hydrogen industry from the perspective of the entire value chain. This cooperation aims to expand the green hydrogen market globally, especially planning to carry out green hydrogen projects on the African continent, where GUOFUHEE's 5MW alkaline and proton exchange membrane (PEM) technologies will be applied. GUOFUHEE Chairman Wu Pinfang stated, "This cooperation will significantly accelerate our expansion in the global market and strengthen our position as a leading provider of green hydrogen solutions."