2025年是"十四五"规划的收官之年，也是"十五五"规划的谋划之年。 国家能源局能源节约和科技装备司副司长徐继林在4月例行新闻发布会上表示，国家能源局将持续推动 氢能产业政策接续发力，积极落实氢能纳入能源管理相关工作，加快推进氢能领域重大技术装备研制和 应用示范，促进"制储输用"全产业链发展，进一步完善氢能产业生态、优化产业发展环境，为"十五 五"时期氢能产业提质提速建立坚实的基础。 厦门大学中国能源政策研究院院长林伯强在接受21世纪经济报道记者采访时表示，氢能试点工作的全面 启动为行业提供了明确的政策导向，并将对氢能的未来规划与建设产生重要影响。从产业链的视角来 看，"制储输用"这四大核心领域涵盖了整个产业链的关键环节，而这些领域均面临着技术与经济方面的 挑战。 业内氢能专家向21世纪经济报道记者表示，中国氢能产业具备显著的比较优势。主要体现在两个方面： 一是成本优势突出，中国绿氢生产成本约为3—4美元/公斤，海外至少是6美元/公斤，更高可达超10美 元；二是发展动力更强，我国拥有大量可再生能源，特别是风电和光伏，当前绿电消纳面临电网接入和 市场化交易的限制，促使众多绿氢项目应运而生，作为绿电的下游出口渠道 ...

"酝酿"十年之后， 铂金开启对黄金追涨模式，价格创下新高 。 财联社记者多方采访获悉，相较于黄金近年来的亮眼表现，铂金此前形成的"价值洼地"正吸引 资金流入，在供给收缩、珠宝商将其作为黄金"平替"及中长期氢能需求大增等预期带动下，业 内对未来长期铂金价格普遍持较乐观态度。 A 股市场上，铂产业链公司贵研铂业（600459.SH）、浩通科技（301026.SZ）、华阳新材 （600281.SH）近日股价走强，均处于近两年高位附近。 铂价创近十年新高 六月份以来，铂价开启拉涨模式。据芝加哥商品交易所数据，截至2025年6月10日，PLc1突 破1200美元/盎司，为近十年新高。 截至6月11日，本周上海黄金交易所Pt99.95涨幅约 22%。 PLc1价格走势 图片来源：英为财情 "可以理解成一种补涨。"华安证券金属新材料首席分析师许勇其告诉记者，近十年，铂价整体 处于宽幅震荡状态，相较于近年来强劲的黄金、白银价格走势，其在一定程度上出现了"价值 洼地"，吸引资金流入。 盘面来看， 近日A股铂产业链中贵研铂业、浩通科技、华阳新材股价走强，均处于近两年左右 高位 。 需要说明的是，目前国内A股中并无以铂矿为主营业务 ...

国家能源局发布《关于组织开展能源领域氢能试点工作的通知》。 其中提到，国家能源局将遴选部分项目和区域开展氢能试点工作，进一步推动创新氢能管理模式，探索 氢能产业发展的多元化路径，形成可复制可推广的经验，支撑氢能"制储输用"全链条发展； 对符合条件的项目和区域试点优先纳入制造业中长期贷款、优先推荐纳入"两重""两新"等支持范围，相 关技术装备优先纳入能源领域首台重大技术装备。 支持依托试点项目，制定相关国家标准和行业标准，推动相关项目参与碳市场、绿证市场交易。 长江证券指出，鉴于我国持续颁布的氢能源利好政策，氢能产业持续发展。上游电解槽招标项目持续稳 定增多，制氢技术有所突破，制氢投资力度加大，建议关注参与电解槽招投标的公司；中游加快氢能输 用发展，持续建设氢能产线，建议关注具备输氢能力的企业；下游氢能探索多场景应用，促进氢能交通 推广，建议关注氢车应用领域的企业。 氢能产业链相关港股： 京城机电股份(00187)、国富氢能(02582)、国鸿氢能(09663)、亿华通(02402)、重塑能源（02570）、中 集安瑞科(03899)、潍柴动力（02338）、中国重汽（03808）、中国旭阳集团(01907)。 ...

Core Viewpoint - The company, Yong'an Xing Technology Co., Ltd., is facing significant challenges in its core public bicycle and shared mobility business, with declining revenues and increasing losses due to market competition and government financial constraints [1][2][4]. Business Overview - The company primarily operates in the shared mobility sector, focusing on public bicycles, shared electric bicycles, and hydrogen energy products, leveraging IoT and cloud data technologies [5][12]. - The public bicycle business has seen a reduction in both the number of cities served and membership, with a decrease of approximately 20 cities and 8 million members compared to the previous year [7][9]. - The company has launched hydrogen energy bicycles and related products, with significant growth in revenue from this segment, particularly after acquiring Zhejiang Kaibo [13][14]. Financial Performance - The company reported a continuous decline in revenue and gross margin across its core business segments, with total revenue dropping from 6.78 billion yuan in 2022 to 4.58 billion yuan in 2024 [6][10]. - The gross margin for the public bicycle business has turned negative, reflecting the impact of increased operational costs and reduced demand [6][9]. - The hydrogen energy product segment has shown substantial growth, with sales revenue reaching 9.1 million yuan in 2023, a significant increase from the previous year [13][14]. Market Environment - The shared mobility industry is experiencing intense competition, particularly from dockless bike-sharing services, which have pressured traditional public bicycle systems [4][6]. - Government financial constraints are impacting the renewal of contracts for public bicycle services, leading to a decline in operational projects [4][7]. - The hydrogen energy market is still in its early stages, with challenges in market penetration and sales channel development [4][6]. Operational Challenges - The company faces uncertainties in accounts receivable collection, with a significant amount of receivables still outstanding, leading to increased provisions for bad debts [2][4]. - The transition to hydrogen energy products has not yet fully compensated for the losses in the traditional public bicycle business, and the company is exploring new markets and product lines to stabilize revenue [12][13]. - The operational model for public bicycle services relies heavily on government contracts, which are becoming increasingly difficult to secure due to budget constraints [18].

Core Viewpoint - The hydrogen energy industry is experiencing significant growth, with a focus on innovative technologies and collaborative efforts among industry leaders to drive development and application in China [1][3]. Industry Overview - The sixth International Forum on Green Transportation Power and Energy Technology, focusing on hydrogen energy, was held in Wuhan, attracting nearly 150 industry professionals from around 50 companies [3]. - Hydrogen energy is identified as a core pathway in the global energy structure transformation, essential for achieving carbon neutrality [4][5]. Technological Developments - Key discussions included advancements in hydrogen internal combustion engines, emphasizing their potential to meet stringent emission regulations while maintaining economic viability [5][6]. - The introduction of the first domestically developed hydrogen internal combustion engine generator set, achieving over 42% efficiency and utilizing hydrogen with a purity of only 90%, marks a significant milestone in the industry [10]. Market Trends - The hydrogen internal combustion engine is positioned as a cost-effective alternative to fuel cells, facilitating the broader adoption of hydrogen energy [5][11]. - The H49 hydrogen-powered heavy-duty truck, developed by Haipote, demonstrates low hydrogen consumption and long-range capabilities, indicating a strong market potential for hydrogen vehicles [11]. Collaborative Efforts - Strategic partnerships, such as the collaboration between Tsinghua University and Ai Hydrogen Technology, aim to advance modular magnesium-based hydrogen supply systems, highlighting the importance of industry cooperation [12]. - The forum featured roundtable discussions among experts, focusing on technological breakthroughs and the industrialization path for the hydrogen energy sector [13]. Innovation Showcase - A technology exhibition at the forum showcased cutting-edge solutions from leading companies and research institutions, emphasizing the need for a complete hydrogen energy ecosystem from production to utilization [14]. - The event underscored the importance of integrating various technologies and fostering collaboration across the hydrogen energy value chain to enhance competitiveness in the global market [14].

Domestic News - The establishment of safety requirements for intelligent connected vehicle combination driving assistance systems has been initiated, with a project cycle of 22 months, expected to be submitted by March 22, 2024 [7] - Sichuan Province has issued a medium to long-term development plan for the hydrogen energy industry (2025-2035), aiming to promote over 4,000 hydrogen fuel cell vehicles and establish more than 40 hydrogen refueling stations by 2027 [8] - Luzhou has introduced new policies to promote the application of new energy vehicles, targeting a scale of over 5 billion yuan in the new energy vehicle industry and a vehicle ownership of 65,000 units this year [9] - FAW-Volkswagen signed a memorandum of cooperation with the Tianjin Economic Development Zone government to produce two new energy vehicles based on the new CMP platform by 2027 [10] - Hongqi's integrated vehicle-road-cloud technology has successfully passed initial testing, enhancing smart traffic systems and enabling seamless communication between vehicles and infrastructure [12] - Nearly half of the users of the new Xiaopeng MONA Max version are women, with over 80% of new orders opting for the high-end intelligent driving assistance system [13] - Dongfeng Motor has officially entered the Polish market with three brands, showcasing a full range of products and establishing strategic partnerships for local sales and service [14] - NIO's entry-level electric vehicle, Firefly, is set to launch in the European market, with sales in the UK expected to start soon [15] International News - India has filed a complaint with the WTO against the US for increasing tariffs on automobiles, indicating a toughening stance in trade negotiations [16] - Italy's new car sales in May slightly decreased by 0.16% year-on-year to 139,390 units, with total sales for the first five months down by 0.54% [17][18] - Lucid Motors has signed a long-term supply agreement with Graphite One to strengthen its supply chain for raw materials in the US [19] - Mazda plans to produce its first pure electric vehicle in Japan by 2027, marking its entry into the electric vehicle market [20] Commercial Vehicles - Yuchai and XCMG have signed an international strategic cooperation agreement to enhance overseas development and establish service stations in the Eurasian region [21] - Suzhou Golden Dragon launched its new V-series buses in Dubai, marking a significant milestone in the UAE market [22] - The logistics industry in China reported a PMI of 50.6% in May, indicating continued expansion and growth in consumer logistics demand [23] - Fastech showcased its latest electric drive systems and solutions at the International New Energy Commercial Vehicle Exhibition, focusing on the electrification needs of heavy-duty and specialized vehicles [24][25]

重要消息 今年中央财政将支持20个城市实施城市更新行动； 富时罗素公布富时中国50指数、富时中国A50指数等季检结果； 华懋科技(603306)宣布重大资产重组，今日复牌。 重要的消息有哪些 1．6月4日，财政部经济建设司、住房城乡建设部城市建设司公示2025年度中央财政支持实施城市更新行动评 选结果，明确中央财政今年将支持北京、天津、唐山、包头、大连、哈尔滨、苏州、温州、芜湖、厦门、济 南、郑州、宜昌、长沙、广州、海口、宜宾、兰州、西宁、乌鲁木齐等20个城市实施城市更新行动。 2．6月4日，国家能源局发布《关于组织开展新型电力系统建设第一批试点工作的通知》，提出围绕构网型技 术、系统友好型新能源电站、智能微电网、算力与电力协同、虚拟电厂、大规模高比例新能源外送、新一代煤 电等七个方向开展试点，探索新型电力系统建设新技术、新模式，推动新型电力系统建设取得突破。 3．6月4日，富时罗素公布2025年6月富时中国50指数、富时中国A50指数、富时中国A150指数、富时中国 A200指数以及富时中国A400指数季检结果，该变更将于6月20日星期五收盘后生效。 4．上交所披露最新数据，2025年5月A股新开户155. ...

（原标题：6月4日重要资讯一览） 重要的消息有哪些 1．财政部公示2025年城市更新行动评审结果，北京、天津、唐山、包头、大连、哈尔滨、苏州、温州、芜湖、厦门、济南、郑州、宜昌、长沙、 广州、海口、宜宾、兰州、西宁、乌鲁木齐等20个城市入围。未来几年，中央财政计划补助超过200亿元，支持这20个城市实施城市更新行动，探 索建立可持续的城市更新机制，补齐城市基础设施的短板弱项。 2．6月4日，国家能源局发布《关于组织开展新型电力系统建设第一批试点工作的通知》，提出围绕构网型技术、系统友好型新能源电站、智能微 电网、算力与电力协同、虚拟电厂、大规模高比例新能源外送、新一代煤电等七个方向开展试点，探索新型电力系统建设新技术、新模式，推动 新型电力系统建设取得突破。 8．近日，深圳市商务局、市发展改革委联合印发《深圳市推动服务贸易和数字贸易高质量发展实施方案》。其中提出，大力发展跨境金融保险服 务。探索建立深圳证券交易所与香港联合交易所会员互联互通机制。支持港澳银行内地分行开办外币银行卡业务以及对除中国境内公民以外客户 的人民币银行卡业务。支持符合条件的香港保险公司在深设立子公司。探索在前海开展私募股权和创业投资份额 ...

Core Viewpoint - The green transition in shipping will drive the consumption of green methanol, clarifying downstream scenarios and opening up new capacity application breakthroughs for green hydrogen ammonia methanol projects, directly accelerating the commencement and implementation of green hydrogen projects [1] Green Methanol Consumption - Major global shipyards are purchasing methanol vessels and collaborating with upstream green methanol operators and port enterprises to ensure future green fuel supply. Currently, the operational green methanol capacity is only over 200,000 tons, while the demand from methanol-powered vessels is approximately 930,000 tons, indicating a supply-demand gap and a window for capturing green premiums. The shipbuilding cycle is about two years, with significant actions expected to commence in the second half of 2025, benefiting green methanol operators that first implement projects and collaborate with green methanol shipowners [2] Upstream Hydrogen Production - The construction cycle for various green methanol projects is 1 to 2 years. To align with the operational cycle of green methanol vessels (27 years under the IMO net-zero framework), it is anticipated that the existing approved but unstarted green hydrogen ammonia methanol projects will accelerate construction starting in the second half of 2025, driving demand for upstream hydrogen production equipment. It is estimated that the domestic electrolyzer bidding volume will reach 1.5 GW in 2025, with a preference for state-owned enterprises and related cooperative companies, recommending equipment companies with project experience [3] Fuel Cell Vehicles - Nine provinces and three cities have announced toll fee exemptions for hydrogen vehicles, marking a breakthrough in application scenarios. The year 2025 is the final year for demonstration city cluster policies and the first settlement point for the medium- to long-term hydrogen energy plan. The expansion of city clusters and the issuance of subsidies will accelerate the release of fuel cell vehicle volumes, with a focus on leading companies in fuel cell components [4] Key Recommendations - Recommended companies include Huadian Technology (601226), Huaguang Huaneng (600475), and Jidian Co., Ltd. (000875) [5]

Core Viewpoint - The hydrogen energy industry in China is transitioning from pilot exploration to a new stage of orderly breakthroughs, supported by comprehensive policies and market dynamics [2]. Group 1: Policy and Market Development - The national energy administration's report emphasizes the legal positioning of hydrogen energy in the Energy Law, highlighting it as a key emerging industry [3]. - In 2024, China's hydrogen production and consumption scale is expected to exceed 36.5 million tons, maintaining its position as the world's largest, accounting for over one-third of global consumption [4]. - Over 560 local policies have been introduced across 22 provincial regions to create a policy loop of national coordination, local implementation, and market-driven development [3]. Group 2: Technological Innovation and Infrastructure - Significant advancements in hydrogen production technology include the commercial trial operation of megawatt-level proton exchange membrane electrolysis systems and the completion of the first long-distance high-pressure pipeline capable of hydrogen blending [5]. - The promotion of fuel cell vehicles has reached approximately 24,000 units, with over 540 hydrogen refueling stations established, indicating a gradual shift in hydrogen applications in heavy-duty trucks and port machinery [5]. Group 3: Regional Development and Differentiation - The "Three Norths" region is becoming a core area for green hydrogen production, with over 90% of renewable energy hydrogen projects planned in this area, focusing on deep decarbonization in industrial sectors [6]. - Eastern regions are concentrating on technological research and high-end applications, with initiatives like the "Hydrogen into Thousands of Homes" demonstration community in Shandong [6]. Group 4: Challenges and Solutions - The cost of renewable energy hydrogen production remains high compared to fossil fuel hydrogen, primarily due to electricity costs and investment in electrolysis equipment [7]. - There is a need for improved standards and safety protocols due to the dual nature of hydrogen as both an energy source and a hazardous material [8]. - The industry faces challenges in material imports and technology breakthroughs, necessitating a more integrated approach across the hydrogen value chain [8]. Group 5: Strategic Initiatives - The hydrogen industry is shifting towards a dual-driven model of policy and market, requiring systematic solutions to overcome technological and cost barriers [10]. - The focus is on scaling up technology and equipment in industrial applications, with a target to increase the penetration rate of green hydrogen in sectors like ammonia and methanol by 2030 [11]. - China aims to establish a global competitive edge by becoming the largest exporter of electrolysis equipment and developing a green hydrogen certification system for international trade [12].