GUOFUHEE (02582) signed a sales contract worth $5.1 million to provide electrolytic cell assembly kits to Indian company Advait.

GUOFUHEE (02582) announced that on April 23, 2026, the company entered into a sales contract with Advait Greenergy Private Limited (Advait), an Indian company specializing in renewable energy and green hydrogen system installation and maintenance, as well as an independent third party. The contract involves providing 23 sets of 1MW electrolyzer assembly kits and 4 sets of 5MW electrolyzer assembly kits to Advait, with a total consideration of approximately $5.1 million. From 2024 to 2025, as the exclusive technical and strategic partner of Advait, the company jointly received local manufacturing subsidies under the first and second phases of India's Green Hydrogen Transition Strategic Intervention Plan (SIGHT) linked to the Production-Linked Incentive (PLI) scheme. In March 2026, the joint electrolyzer assembly plant established by the company and Advait successfully launched the first 5MW electrolyzer, which integrates the company's hydrogen technology and key components. The signing of the sales contract signals that the company's strategy of "technology export + local manufacturing" has entered the phase of actual delivery and production ramp-up. Leveraging its domestic 2.5GW water electrolysis equipment capacity, the company, through this partnership with Advait, will be able to deliver no less than 300MW of electrolysis water hydrogen production equipment meeting the SIGHT subsidy requirements to the Indian market annually in the future. The Board believes that this move will help the group gain a favorable position in the Indian market and continue to make a positive contribution to the group's overseas sales performance. Furthermore, the company recently successfully bid to supply a series of water electrolysis hydrogen production equipment to Shandong Hi-speed Service Development Group Co., Ltd. (Shandong Hi-speed), an independent third party, with a total amount of approximately RMB 21.27 million. The equipment will be used for the second phase of the water electrolysis hydrogen production project in the comprehensive hydrogen station project at the High-density Service Area, which is a key technology integration and demonstration project in the high-speed hydrogen zero-carbon service area scenario. This bid represents a significant breakthrough for the company in the deep integration of renewable energy hydrogen production and transportation scenarios. This project is the first comprehensive demonstration project in the domestic highway scenario that integrates "zero-carbon service area, hydrogen fueling station, and proton exchange membrane (PEM) electrolysis hydrogen production and storage." The bid demonstrates the company's technical capabilities in PEM electrolyzer system integration, dynamic response, and collaborative operation with hydrogen refueling facilities, while also helping the company build a closed-loop system of "green electricity-green hydrogen-hydrogen transportation" in the entire industry chain. Leveraging Shandong Hi-speed's application platform, this project will provide replicable technical solutions and operational models for the construction of hydrogen microgrids in future service areas, peak shaving energy storage, and cross-regional hydrogen corridors, further enhancing the company's brand influence and competitive advantage in the transportation energy transformation market.