氢能月度报告：供给、消费端氢价持续降低，加氢站日供给能力提升

Investment Rating - The investment rating for the hydrogen energy industry is "Recommended" [3] Core Insights - The hydrogen energy market is expected to see growth in both supply and demand due to the implementation of relevant policies, with an increase in market scale anticipated [3] - The report highlights the importance of infrastructure development, particularly in hydrogen refueling stations, hydrogen storage and transportation, and core components of fuel cells [3] Monthly Data Changes - In July, the price of high-purity hydrogen in Guangdong decreased by 11.74% to 2.03 CNY/Nm3, while other markets remained stable [7] - The total capacity of renewable hydrogen production projects in China reached 969.7 MW, a slight decrease of 1.02% from the previous month [7] - The number of operational hydrogen refueling stations in China is 368, with a total daily supply capacity of 279,000 kg [7] Policy Developments - The central government has issued documents to promote the full-chain development of hydrogen energy, indicating a strong emphasis on the industry at the macro level [9][10] - Local governments, such as Shanghai and Beijing, are taking steps to standardize and promote the construction of hydrogen refueling stations and fuel cell vehicles [19][20] Investment and Financing Events - Notable financing activities include a 400 million C+ round financing for Suzhou Kairun New Materials and the completion of a listing application for Guofu Hydrogen Energy on the Hong Kong Stock Exchange [21][22][23]