HK Stock Market Move | Hydrogen energy concept stocks rose in the afternoon. Five major hydrogen energy city clusters were recently approved, and the industry is expected to undergo deep evolution going forward.

Hydrogen energy concept stocks rose in the afternoon. As of press time, SINOHYTEC (02402) rose 19.90% to HK$12.47; GUOFUHEE (02582) rose 15.76% to HK$5.105; JINGCHENG MAC (00187) rose 2.87% to HK$2.685. On the news front, China recently officially approved five city clusters to carry out pilot programs for comprehensive hydrogen energy applications, marking the start of a new chapter of large-scale development for the country's hydrogen energy industry. The five city clusters include two focused primarily on fuel cell vehicles, namely the Beijing-Tianjin-Hebei region and the Greater Bay Area; and three focused primarily on the industrial sector, namely Northeast China-Yangtze River Delta, Xinjiang-Chengdu-Chongqing Twin-City Economic Circle, and the Yellow River Jizi Bend-Central Plains. Changjiang issued a research report stating that looking ahead to the "15th Five-Year Plan," the hydrogen energy industry is expected to undergo deep evolution toward large-scale and commercialized development. The fact that total central government fiscal support shows no significant increase compared with the "14th Five-Year Plan" does not mean support has weakened, mainly because the hydrogen energy industry chain has significantly reduced costs over the past five years; moreover, the industry also benefits from support such as CCER, toll-free highways, and various purchase and operating subsidies, helping the industry transition from its early stage toward parity. The government work report emphasized cultivating hydrogen energy and green fuels, and hydrogen energy itself is about to enter a stage of large-scale cost reduction.