Core Viewpoint - The article highlights a groundbreaking achievement in off-grid hydrogen production, demonstrating that hydrogen can be generated without the need for energy storage systems, utilizing only photovoltaic energy [4][7]. Group 1: Off-Grid Hydrogen Production Breakthrough - The Blue Kun Hydrogen Energy's square atmospheric electrolyzer achieves a wide load range of 2%-120% for pure off-grid hydrogen production, directly converting solar energy into high-purity hydrogen without the need for energy storage, thus eliminating significant costs and management complexities [4]. - This innovation marks a shift from traditional methods that rely on grid connections and large-scale energy storage, making off-grid hydrogen production a practical reality [4]. Group 2: Technical Innovations Ensuring Stable Operation - The integrated design of the gas-liquid separator and electrolyzer creates a stable flow environment, ensuring that electrolysis efficiency remains high even in off-grid conditions [5]. - The system operates at a low pressure of 10-30 kPa, significantly reducing risks associated with high-pressure operations, and utilizes third-generation composite membranes to minimize hydrogen-oxygen crossover, achieving an oxygen hydrogen content of 0.2% under normal conditions [5]. - The modular structure of the electrolyzer is lightweight, only 33% of the weight of traditional high-pressure electrolyzers, and features digital integrated control for easy operation and maintenance without the need for continuous manual inspections [5]. Group 3: Reliability and Industry Implications - The system produces hydrogen with a purity of over 99.9%, validating the reliability of off-grid hydrogen production and indicating a new potential for the hydrogen energy industry [7]. - This advancement suggests that renewable energy consumption no longer requires energy storage, allowing hydrogen production to operate more efficiently and cost-effectively [7].

"宁波膜智信息科技有限公司"为势银（TrendBank）唯一工商注册实体及收款账户 势银研究： 势银产业研究服务 重要会议： 2025势银绿氢产业大会（7月16-17日，江苏·无锡） 点此报名 添加文末微信，加 绿氢 群 制氢目标是中国氢能产业从"示范探索"迈向"规模化商用"的关键一步。 据势银（TrendBank）统计，截至2024年底，国内绿氢项目已建成102个，绿氢产能约10.88万吨/年， 已基本完成国家中长期规划中对于2025年10-20万吨的年制氢目标。 2022年国家目标发布后，全国各省份陆续发布省级氢能规划目标。其中，内蒙古、甘肃、新疆等省份 明确绿氢制备规模目标，合计约110万吨/年，远超国家目标。 从目前完成情况来看，各省份已建成绿 氢项目规模远低于目标量，但考虑部分在建项目或将于2025年取得实质性进展，内蒙古、新疆、宁 夏、吉林的开工建设规模已超过其省级规划量（见下图）。 势银数据： 势银数据产品服务 势银咨询： 势银咨询顾问服务 未来，三北地区将继续在全国范围内保持先发优势。然而，在典型氢氨醇一体化项目模式中，产品的 制备与应用存在一定区域错配问题，以甲醇在航运应用为例，目前加注港口 ...

Group 1 - The first zero-carbon industrial park model has been successfully implemented in Ordos, integrating renewable energy, power batteries, energy storage, electric heavy trucks, and battery materials, facilitating the transition from traditional energy reliance to green sustainable development [1] - Ordos has established itself as a global model for green energy transformation through benchmark projects like the zero-carbon industrial park and the Junma photovoltaic power station, aiming to enhance its competitiveness in the global energy brand [1][2] - The hydrogen energy sector is a key focus for Ordos, with breakthroughs sought in areas such as electric-hydrogen multi-energy conversion and hydrogen fuel cell development, contributing to the "wind-solar-hydrogen-storage vehicle" strategy [1] Group 2 - The Daqing Power Plant's million-kilowatt unit project is the first of its kind in the Mongolian West Power Grid and represents a significant investment by China Huaneng Group during the 14th Five-Year Plan, utilizing advanced ultra-supercritical technology to reduce CO2 emissions by 234,300 tons per year [2] - The project boasts a high domestic production rate, featuring fully domesticated systems and equipment, which enhances the efficient and clean utilization of low-quality high-sulfur coal in the Ordos region [2] - Ordos is positioning itself as a core strategic area for China's energy industry, focusing on building a world-class energy sector and enhancing its brand influence and voice in the energy field [2][3] Group 3 - Ordos is recognized as a representative city for energy transformation, with efforts to build a new energy system and a world-class comprehensive energy production base [3] - The city is committed to becoming a national energy and strategic resource base, focusing on clean electricity supply, oil and gas strategic reserves, and hydrogen energy application demonstration bases [3] - The branding of Ordos's energy sector relies on excellent enterprises and brand case support, emphasizing the need for brand-oriented thinking to promote projects on the international stage [3]

据中央广播电视总台中国之声《新闻和报纸摘要》报道，国家能源局数据显示，2024年，我国氢能全年 生产消费规模超3650万吨，位列世界第一。近期，多个氢能产业项目建设提速，我国氢能产业正从试点 探索逐步进入有序破局的新阶段。 走进内蒙古包头氢能产业与可再生能源一体化项目现场，工人们为即将进行的设备安装调试做着准备， 项目总经理张修军表示，包头氢能项目预计上半年投产运营。 张修军： 在包头有良好的氢能产业发展潜力和基础，尤其当地有很好的风光发电以及制氢的能源基 础，同时也有很好的重卡市场应用场景基础。 全球单体规模最大氢储能调峰电站及风光氢储车一体化项目——格罗夫木垒项目在新疆木垒哈萨克自治 县加紧建设，项目有关负责人郝义国介绍，该项目总投资超过105亿元，规划建设6座日加氢能力5吨的 加氢综合能源站和600台氢能重卡的采购和运营，目前已完成项目总进度的60%。 国家能源局能源节约和科技装备司副司长徐继林表示，截至2024年底，全国各地累计发布氢能专项政策 超560项，积极推动氢能技术创新。 徐继林： 截至2024年底，全国各地累计规划建设可再生能源电解水制氢项目超600个，一批典型示范项 目建成落地，逐步贯通可 ...

4月28，国家能源局公开发布的我国首份氢能发展报告《中国氢能发展报告(2025)》显示，2024年中国 氢能全年生产消费规模超3650万吨，位列世界第一。截至2024年底，全球可再生能源制氢项目累计建成 产能年均超过25万吨，中国占比超过一半，已逐步成为全球可再生能源制氢及相关产业发展的引领国 家。然而，我国氢能产业向大规模商用跃迁仍面临技术、成本和应用场景等方面的挑战，亟待完善产业 顶层设计，推进关键技术攻关和核心装备自主化，建立低成本大规模绿氢供应体系，打造全方位氢能产 业生态圈，促进氢能产业高质量发展。 向大规模商用跃迁面临挑战 经过多年发展，我国氢能产业在技术研发、产业布局等方面取得了显著进展：多项关键技术研发获得阶 段性成果，例如碱性电解槽技术已实现国产化、质子交换膜电解槽技术快速推进、35MPa高压储氢技术 已成熟、燃料电池堆的功率密度和耐久性不断提升等;初步形成了以长三角、珠三角、京津冀为核心的 产业集群;基础设施建设加快推进，应用领域不断拓宽。但整体来看，氢能产业发展路径、商业模式等 尚处于摸索和示范阶段，向大规模商用跃迁仍面临诸多挑战。 一是引领产业战略性发展的顶层设计不够。与日韩等国家相比 ...

Core Viewpoint - The performance briefing of the new energy sector on the Sci-Tech Innovation Board highlighted the growth and strategic developments of key companies in the industry, showcasing a complete ecosystem from upstream materials to downstream applications, with a focus on intelligent and global advancements [1][2]. Group 1: Company Performance and Strategies - Seven listed companies participated in the performance briefing, including leading firms like Shanghai Pylon Energy Technology Co., Ltd. and Guangdong Liyuanheng Intelligent Equipment Co., Ltd. [1] - Pylon Technology, a leader in energy storage systems, expressed confidence in the growth of its performance supported by the expansion of energy storage applications, with plans to enhance home storage product performance by 2025 [2]. - Guangdong Fangyuan New Materials Group Co., Ltd. has successfully industrialized a new lithium extraction process in 2024, gaining recognition from major clients in the lithium battery supply chain [2]. Group 2: Technological Innovations - Guangdong Lair New Materials Technology Co., Ltd. reported a revenue of 526 million yuan in 2024, a year-on-year increase of 19.95%, with significant contributions from new energy materials [3]. - The company has expanded its functional coating film business into emerging fields such as automotive electronics and new energy batteries, achieving breakthroughs in various market segments [3]. Group 3: International Expansion - Dalian Haosen Intelligent Manufacturing Co., Ltd. has seen a rapid increase in European orders since 2023, with overseas orders expected to exceed 50% of total new orders in 2023 and 2024 [4]. - The company is also targeting emerging markets in ASEAN and Latin America, where countries like Indonesia, Thailand, and Brazil have set ambitious transformation goals [4]. Group 4: Smart Applications in New Energy - Hangzhou Hongquan Internet of Things Technology Co., Ltd. reported a revenue of 523 million yuan in 2024, a year-on-year increase of 27.81%, with significant growth in its T-BOX product line for new energy logistics vehicles [5]. - The company is actively expanding its overseas business, aligning products with international market standards and participating in global exhibitions to engage with potential clients [5].

Investment Rating - The report maintains an "Increase" rating for the industry [5] Core Insights - The report highlights the stabilization of silicon material prices due to reduced production in response to weakened demand, with the average transaction price for granular silicon at 36,000 RMB/ton, down 2.7% week-on-week [14] - The report emphasizes the importance of two key directions: 1) focusing on silicon materials and glass with rigid supply and greater price elasticity post-demand recovery, with key companies including GCL-Poly Energy and Tongwei Co., Ltd. 2) exploring long-term growth opportunities brought by new technologies, focusing on Aiko Solar and Juhua Materials [14] - In the wind and electricity sector, Shandong has become the first province to implement the 136 document, clarifying pricing for existing projects at 0.3949 RMB/kWh, with a projected average settlement price for solar in Shandong at approximately 0.35 RMB/kWh in 2024 [15][18] - The report discusses the launch of China's first "trillion-level hydrogen energy project" in Shaanxi, which aims to utilize various hydrogen production methods to support low-carbon development [17] - The report notes that the average bidding price for energy storage systems in April was between 0.405 and 1.096 RMB/Wh, with recommendations to focus on companies with high growth certainty in large-scale storage, including Sungrow Power Supply and Eastern Gold Sun [21][24] Summary by Sections New Energy Generation - **Photovoltaics**: Silicon material prices are expected to stabilize as production is reduced in response to weakened demand, with a projected production reduction to 96,000 tons in May, down 3% month-on-month [14] - **Wind Power & Grid**: Shandong's implementation of the 136 document is expected to set a precedent for other provinces, with clear pricing mechanisms for existing projects [15][16] - **Hydrogen & Energy Storage**: The report highlights a significant hydrogen project in Shaanxi and provides insights into energy storage bidding prices, recommending key players in the sector [17][21] New Energy Vehicles - **Ningde Times**: The company has successfully passed the Hong Kong Stock Exchange listing hearing, aiming to raise approximately 5 billion USD for expansion projects, including those in Hungary and Indonesia [26] - The report suggests focusing on leading lithium battery companies and the solid-state battery industry for long-term investment opportunities [27] Price Dynamics in the Photovoltaic Industry - The report provides detailed price changes in the photovoltaic supply chain, indicating a downward trend in prices for various components, including polysilicon and solar cells [29] Important News - The report summarizes significant developments in the new energy sector, including partnerships and project announcements that could impact market dynamics [30][31]

Core Viewpoint - The "14th Five-Year Plan" serves as a crucial framework for China's modernization goals by 2035, addressing challenges such as global economic changes and strategic execution discrepancies [1] Historical Context of Cultural and Tourism Planning - Early Stage: Focus on resource integration and infrastructure development before 2000, with government initiatives to build scenic areas and enhance cultural facilities [1] - 2000-2010: Rapid growth in tourism with the introduction of the "Tourism Power" strategy, integrating cultural industries into national planning [2] - 2011-2015: Deep integration of cultural tourism, with cultural industries recognized as a pillar of the economy, leading to diversified and customized tourism experiences [3] - 2016-2020: Introduction of the "All-for-One Tourism" concept, merging cultural tourism with local economic development, and leveraging technology for innovative tourism models [4] Key Tasks of the 14th Five-Year Plan - Strengthening high-quality technological supply to drive innovation and industrial upgrades, focusing on future industries like AI and hydrogen energy [8] - Optimizing economic structure by enhancing the integration of digital economy with the real economy, promoting high-end manufacturing and green development [9] - Expanding domestic demand and upgrading consumption to solidify economic growth, emphasizing infrastructure development in rural areas and investment in high-tech industries [10]

Investment Rating - The industry rating is "Outperform the Market" [5][61]. Core Views - The lithium battery sector is focusing on the upcoming CIBF battery exhibition, with attention on solid-state battery technologies [2][9]. - In the photovoltaic sector, Longi Green Energy has signed a strategic cooperation agreement for over 1GW of BC components, marking the entry into the global BC era [3][19]. - The energy storage sector has seen a drop in the average price of 2-hour storage systems below 0.6 yuan, with a total bidding scale of 10.2GW/30.2GWh in April [3][30]. - The power equipment and industrial control sector has announced a bidding result of 5.468 billion yuan for distribution network equipment [4][38]. - The hydrogen energy sector is experiencing a long-term decline in production-side hydrogen price index, with supportive policies introduced in Henan province [4][49]. Summary by Sections 1. New Energy Vehicles and Lithium Battery Sector - The CIBF 2025 will showcase the latest battery technologies, including solid-state batteries [9]. - The penetration rate of new energy commercial vehicles has reached 20%, with significant product releases from battery companies [10]. - Companies with cost advantages and those leading in fast-charging and high-voltage technologies are recommended for investment [11][12]. 2. New Energy Generation Sector - Longi Green Energy's agreement for over 1GW of Hi-MO 9 components signifies a shift towards high-efficiency BC technology [19][20]. - The solar industry is facing price declines across various segments, including polysilicon and modules, with expectations of continued downward pressure [21][25]. - Investment suggestions include companies benefiting from demand surges and those with price elasticity in the battery segment [26][27]. 3. Energy Storage Sector - The average price of 2-hour storage systems has decreased to 0.589 yuan/Wh, with strong bidding activity in various provinces [30][31]. - The introduction of the 136 document in Shandong province indicates a shift in energy storage policy, allowing for market participation without mandatory storage [32][35]. - Investment recommendations focus on quality storage integration companies and those benefiting from the growth of energy storage systems [34]. 4. Power Equipment and Industrial Control Sector - The total bidding amount for distribution network equipment reached 5.468 billion yuan, indicating robust demand [38][39]. - The completion of the ±800 kV UHVDC project will enhance green energy transmission in Shandong [40]. - Investment opportunities are identified in companies benefiting from overseas expansion and digital power grid developments [44]. 5. Hydrogen Energy Sector - The national hydrogen price index is on a long-term downward trend, with new standards for proton exchange membranes being implemented [49][50]. - Policies supporting hydrogen energy development have been introduced in Henan province, with significant projects underway [50][51]. - Investment suggestions include companies involved in green hydrogen production and fuel cell systems [51].

Core Insights - The hydrogen energy industry in Liupanshui, Guizhou, is rapidly developing, with the establishment of a complete ecological system for hydrogen energy production, storage, transportation, and utilization [1][2] - The region is transitioning from traditional coal coking to green hydrogen energy, leveraging its abundant coal resources to produce hydrogen efficiently [2][3] - The "Meijin Huayu Coal-Focused Hydrogen Comprehensive Utilization Demonstration Project" is a key initiative, expected to produce 4 million standard cubic meters of high-purity hydrogen annually and significantly reduce carbon emissions [3][4] Industry Development - Liupanshui has established a hydrogen energy industry development plan from 2019 to 2030, focusing on the integration of coal power and new coal chemical industries [2] - The city has achieved several milestones, including the first hydrogen production plant, hydrogen refueling station, hydrogen bus, and hydrogen transport vehicle in Guizhou [2][3] - The local government aims to create a hydrogen energy demonstration area and has outlined a development plan for 2024-2030 to support the entire hydrogen energy industry chain [2][4] Project Details - The Meijin Huayu project utilizes advanced technology to achieve a synergistic production of metallurgical coke and hydrogen, incorporating 12 core technologies for a circular economy model [3] - The project is expected to generate an annual output value of 20 billion yuan and create over 1,500 jobs, while also promoting the transition from coal to hydrogen [3][4] - The deployment of hydrogen fuel cell locomotives, buses, and heavy trucks is set to expand application scenarios and create a demonstration effect for the hydrogen energy sector [4]