HK Stock Market Move | Three departments organized a pilot project for comprehensive hydrogen utilization. JINGCHENG MAC (00187) and GUOFUHEE (02582) both rose more than 5%.

The concept of hydrogen energy is on the rise. As of the time of writing, JINGCHENG MAC (00187) rose by 5.49% to 5.19 Hong Kong dollars; GUOFUHEE (02582) rose by 5.12% to 32 Hong Kong dollars; SINOHYTEC (02402) rose by 2.95% to 24.44 Hong Kong dollars. On the news front, the Ministry of Industry and Information Technology, the Ministry of Finance, and the National Development and Reform Commission issued a notice on carrying out pilot projects for comprehensive application of hydrogen energy. It was pointed out that by 2030, hydrogen energy in urban clusters will achieve large-scale application in multiple fields, and the average price of hydrogen for end use will be reduced to less than 25 yuan per kilogram, striving to reach around 15 yuan per kilogram in some advantageous regions; the national inventory of fuel cell vehicles will double from 2025, striving to reach 100,000 vehicles. By expanding the application scale, it will promote breakthroughs in hydrogen energy application technology, processes, equipment innovation, achieve iterative upgrades of fuel cells, electrolyzers, storage and transportation equipment, materials, etc., promote hydrogen energy to become a new economic growth point, and support comprehensive green transformation of economic and social development. Huatai's previous research report pointed out that the government work report in 2026 proposed to "cultivate hydrogen energy, green fuels and other new growth points," and the "15th Five-Year Plan" will also elevate hydrogen energy to the strategic height of a "future industry." In addition, global maritime and aviation carbon emission control policies are gradually tightening, and under the resonance of policies at home and abroad, hydrogen energy may usher in a turning point of non-linear growth. With the bullish outlook on the surge in demand for green hydrogen, domestic project operators, hydrogen alcohol equipment suppliers, and electrolyzer suppliers are expected to benefit.