“氢能概念第一股”美锦能源终止总投资15亿的募投氢能项目

Core Viewpoint - Shanxi Meijin Energy Co., Ltd. has announced the termination of part of its fundraising investment project related to hydrogen fuel cell technology and will permanently supplement the remaining funds into working capital [1][7]. Group 1: Project Termination and Fund Allocation - The hydrogen fuel cell power system and hydrogen fuel commercial vehicle parts production project (Phase I) has been halted, with remaining funds of 179.18 million yuan (including financial income and bank interest) redirected to working capital [1][3]. - Initially, the project was allocated 600 million yuan, which was later reduced to 250 million yuan [2][3]. - As of September 30, 2025, the project had utilized 73.43 million yuan, representing a 29.37% investment progress, with 179.18 million yuan remaining [3][4]. Group 2: Strategic Adjustments and Future Plans - The project faced delays due to the city of Jinzhong not being included in the national fuel cell vehicle application demonstration city group, leading to slower-than-expected promotion of hydrogen fuel cell vehicles [4]. - The company plans to leverage its existing facilities to attract partners for collaborative research and production in hydrogen energy transportation and storage [4]. Group 3: Financial Performance and Market Position - Meijin Energy has experienced a significant decline in net profit, reporting 2.89 billion yuan in 2022 and a loss of 1.14 billion yuan in 2024, with a revenue drop of 9.71% year-on-year in the first three quarters of this year [7]. - The termination of the fundraising project is expected to optimize resource allocation and enhance operational efficiency [7]. Group 4: Expansion and New Ventures - The company is planning to list on the Hong Kong Stock Exchange to enhance its global strategy and improve its international market competitiveness [8]. - Meijin Energy has also established a joint venture with Boyan Technology to develop AI applications, which may support its coal and hydrogen energy sectors [9][11].