Core Viewpoint - Wuxi Lihu Lake Pressure Technology Co., Ltd. (referred to as "Lihu Co.") held a specific investor research event on November 24, focusing on the progress of its hydrogen energy ship business, new business expansion strategies, and developments in robot components [1][2]. Group 1: Hydrogen Energy Ship Business - The subsidiary Haida Qingneng Shipbuilding (Dalian) Co., Ltd. is focusing on "hydrogen-based energy ships" and "small intelligent ships," aiming to provide hydrogen energy power solutions and services for the development and construction of small intelligent ships [3]. - The company plans to target the inland hydrogen energy ship market and align with the trends of standardized, green, and low-carbon industries [3]. Group 2: New Business Expansion - The core strategy for new business expansion is deep collaboration with existing main businesses, focusing on two paths: exploring differentiated product demands from current industry clients and leveraging precision processing capabilities to enhance product quality [4]. - The company aims to drive product structure towards high-quality development while reinforcing the synergistic effects of its main business [4]. Group 3: Robot Components - The company is concentrating on two main aspects in the robot components sector: providing high-quality core basic components and precision machined parts based on its advantages in precision casting [5]. - Additionally, it plans to strategically invest in key areas with high technical barriers and significant R&D costs to establish a long-term competitive advantage [5]. Group 4: Mergers and Acquisitions - Mergers and acquisitions are viewed as a crucial development path, guided by a "technology + market" approach, focusing on identifying quality targets in the industry [6]. - The company intends to explore emerging industries such as new fuel technologies and new materials while ensuring stable operations of its main business [6]. - The dual strategy of "internal growth" and "external expansion" is emphasized, with both strategies being complementary and advancing in parallel [6].

Core Viewpoint - The hydrogen energy shipping industry is gaining momentum as a solution to reduce carbon emissions from vessels, with significant advancements in fuel cell technology and government support for green development initiatives [3][4][6]. Group 1: Industry Overview - The annual carbon emissions from various types of vessels reach 1.12 billion tons, accounting for 4.5% of global CO2 emissions. In China, over 110,000 inland cargo and passenger ships predominantly use diesel, leading to severe pollution and a pressing need for clean energy alternatives [3]. - Hydrogen-powered vessels are recognized for their zero carbon emissions, high energy conversion efficiency, modular design, low operational noise, and reduced maintenance costs, making them a primary focus for research and industrialization in the new energy shipping sector [3]. Group 2: Government Initiatives - The "Hydrogen Industry Development Medium- and Long-Term Plan (2021-2035)" encourages the exploration of fuel cell applications in shipping and aviation. In 2023, a joint action plan for the green development of the shipbuilding industry was issued, promoting the development of new power ship types, including fuel cells, to create standardized and series-produced green vessels [3]. Group 3: Technological Advancements - The MTSYS-120 fuel cell system and MTMOD-150 fuel cell stack, developed by Tomorrow Hydrogen Company, have received type approval from the China Classification Society (CCS), allowing their use in domestic maritime and inland vessels. This marks the first CCS type approval certificate for hydrogen fuel cells in Anhui Province [3][6]. - The fuel cell system features a power output greater than 150 kW, a power density of 6.5 kW/L, and a lifespan exceeding 22,000 hours. It is modular, allowing for flexible integration into vessels with varying power requirements, and can be expanded to megawatt-level outputs [6].