产融共兴，一汽解放生态布局盈硕果

Core Viewpoint - The company is committed to developing new energy vehicles, particularly in the hydrogen energy sector, to lead the high-quality development of the commercial vehicle industry under the "dual carbon" goals [1][2]. Group 1: Strategic Development - The company launched the "15333" strategy for new energy in September 2021, focusing on strengthening its position in the hydrogen energy industry [1]. - It has established two technical routes in research and development: "hydrogen fuel cells" and "hydrogen engines," achieving an overall success rate covering 80KW-400KW, with leading performance indicators in the industry [1]. - The company has mastered 77 key core technologies in areas such as hydrogen engines, ammonia-hydrogen hybrid internal combustion engines, and fuel cells [1]. Group 2: Product Innovation - The "Xingyi" hydrogen engine tractor from the company is the first hydrogen engine vehicle in China that can be commercially operated [1]. - The "Xingyi" liquid hydrogen fuel cell tractor is the first of its kind in China, boasting six advantages: maximum power, lowest hydrogen consumption, longest range, lightest weight, highest safety, and best adaptability [1]. Group 3: Ecosystem Development - In December 2022, the company strengthened its capital ties by investing in Shanghai Re-Structure, aiming to build a complete ecosystem covering fuel cell system R&D, vehicle manufacturing, and operational scenarios [1]. - The collaboration focuses on key technologies and equipment development for fuel cell commercial vehicles, striving to overcome industry bottlenecks [1]. Group 4: Operational Breakthroughs - The company and Shanghai Re-Structure have been working together to create an ecosystem for fuel cell commercial vehicles, promoting the commercialization process of these vehicles [2]. - They have jointly developed nearly 20 fuel cell vehicle models for various applications, including public transport, logistics, and sanitation [2]. - The partnership has led to the establishment of a "vehicle-station-hydrogen" linkage model for long-distance logistics, enhancing the synergy between hydrogen refueling networks and vehicle operations [2]. Group 5: Capital and Market Performance - Shanghai Re-Structure was officially listed on the Hong Kong Stock Exchange on December 6, 2024, with a market value exceeding HKD 21 billion by February 2025, reflecting a more than 70% increase since its listing [2]. - The company emphasizes collaborative interaction with invested enterprises to enhance both its own capital preservation and value release of the invested companies [2]. Group 6: Future Directions - The company plans to further explore capital operation models to aggregate upstream and downstream resources, aiming to provide "China's first, world-class" green intelligent transportation solutions [3]. - Shanghai Re-Structure is recognized as a leading hydrogen technology enterprise in China, achieving self-research and mass production of fuel cell systems and components, and has expanded its international business to multiple markets [3].