电力设备及新能源行业周报：氢能政策持续利好，促进氢能产业发展

Investment Rating - The industry rating is "Outperform the Market" with a recommendation to focus on companies involved in the bidding for electrolyzers, hydrogen transportation capabilities, and hydrogen vehicle applications [1][29]. Core Insights - The hydrogen energy industry is experiencing continuous development due to favorable policies, with an increase in electrolyzer bidding projects and investment in hydrogen production [1][24]. - The hydrogen energy index closed at 1651.70 points as of October 18, 2024, with a weekly increase of 3.87% and a year-to-date decrease of 5.15% [1][4]. - The TTM price-to-earnings ratio for the hydrogen energy index is 21.13 times, and the market-to-book ratio is 1.56 times as of October 18, 2024 [1][6]. Summary by Sections 1. Hydrogen Industry Market Performance - The hydrogen energy index has shown a significant rise, ranking 42nd among the Shenwan secondary industries, improving by 20 places compared to the previous week [4]. - The top five companies in terms of weekly gains include Guangzhi Technology (148.86%), Sichuan Jinding (61.02%), Fangsheng Co., Ltd. (39.46%), Guolin Technology (32.05%), and Taihao Technology (25.52%) [7]. 2. Hydrogen Industry Data Review 2.1 Electrolyzer Data Review - As of October 18, 2024, there are 33 cumulative electrolyzer bidding projects in China, primarily alkaline and PEM types [10]. - The Xinjiang Junrui Wensu green hydrogen project, which includes 40 electrolyzers, aims to reduce CO2 emissions by approximately 360,000 tons per year [10]. 2.2 FCV Related Data Review - In September 2024, the production of fuel cell vehicles (FCVs) was 161 units, a decrease of 69.51% month-on-month, while cumulative production reached 4,188 units, a year-on-year increase of 40.58% [13]. 3. Industry Dynamics and Company Updates 3.1 Industry Dynamics - The first large-scale green methanol and green aviation fuel demonstration base has commenced construction, marking a significant milestone in the hydrogen industry [18]. - The first "zero-carbon port" certification was awarded to Weifang Port, which is developing a multi-energy supply system [18]. 3.2 Company Dynamics - Wolong Anpu has begun series production of megawatt-level electrolyzers, marking a significant advancement in hydrogen production technology [22]. - Huisheng Engineering and Hydrogen Energy have signed a strategic cooperation agreement to promote PEM electrolyzer technology [22]. 4. Key Recommendations - Focus on companies involved in electrolyzer bidding, hydrogen transportation, and hydrogen vehicle applications due to the supportive policies and increasing project approvals in the hydrogen sector [24].