HK Stock Market Move | SINOHYTEC (02402) soars by over 21%, aircraft carrier-level fund will support frontier industries such as hydrogen energy, company plans to acquire equity of Dingzhou Xuyang.

SINOHYTEC (02402) surged with heavy volume in the final trading session, with the stock price rising more than 21%, reaching 33.95 Hong Kong dollars as of press time, up 21.47%, with a trading volume of 47.6941 million Hong Kong dollars. On the news front, Zheng Zhejie, Director of the National Development and Reform Commission, revealed that the country is promoting the establishment of a "aircraft carrier-level" national venture capital guidance fund, aiming to guide financial capital to invest early, invest small, invest long-term, and invest in hard technology. Ping An Securities pointed out that the injection of aircraft carrier-level funds will provide stable financial support for hydrogen and energy storage related companies, and is expected to accelerate technological innovation and industrialization; at the same time, the long-term nature of the fund and the driving effect of large-scale social capital are also expected to enhance market confidence in the hydrogen and energy storage industry, attract more investors to participate, and further improve the industrial chain ecology. In addition, SINOHYTEC recently announced that it plans to acquire 100% equity of Xuyang Group in Dingzhou Xuyang and raise matching funds through the issuance of its A shares. Sinolink stated that by integrating Xuyang Hydrogen Energy, SINOHYTEC can lock in low-cost hydrogen sources, address the core pain point of "high cost of hydrogen for fuel cell vehicles"; and through the Xuyang Hydrogen Energy supply base network, strengthen the layout of hydrogen refueling stations in the Beijing-Tianjin-Hebei and Sichuan-Chongqing demonstration city clusters, forming a production and sales synergy with existing customers. The bank pointed out that although SINOHYTEC's short-term performance is under pressure, if the acquisition can achieve a 20%-30% reduction in hydrogen production costs, its fuel cell system gross profit margin is expected to increase, and the loss in 2025 may be significantly narrowed.