国金证券：氢能非电降碳关键载体，蓄势已成、拐点将至

Group 1 - The report from Guojin Securities indicates that the resonance of hydrogen energy policies domestically and internationally opens up demand, making producers of green methanol who can ensure sales channels competitive [1] - The hydrogen production equipment industry has undergone significant clearing, and the optimization of the competitive landscape will bring more concentrated opportunities, with a focus on equipment companies that already have project experience [1] - The fuel cell vehicle sector is on the brink of an explosion, driven by the decrease in fuel cell system costs and the exemption of highway tolls for hydrogen vehicles, with the competitive landscape narrowing and leading fuel cell companies now listed [1] Group 2 - Solid oxide fuel cells are highlighted, particularly Bloom Energy and its core supply chain, as well as domestic and overseas system providers [1]