格隆汇12月1日丨蜀道装备(300540.SZ)公布，为满足战略发展需求，加快推动产业布局优化和并购投资 项目落地实施，助力公司持续构建完善工业气体、清洁能源以及氢能产业平台，四川蜀道装备科技股份 有限公司拟与蜀道产融（四川）私募基金管理有限公司（简称"蜀道产融管理公司"）、蜀道（四川）股 权投资基金有限公司（简称"蜀道股权基金公司"）共同投资设立蜀道（四川）气体产业股权投资基金 （有限合伙）（暂定名，最终以工商注册为准），主要围绕工业气体（含特种气体、电子气体）、 LNG、氢能领域设立子基金或开展直接股权投资。基金规模20亿元，蜀道装备作为LP认缴100,000万 元，占比50.00%；蜀道股权基金公司作为LP认缴99,800万元，占比49.90%；蜀道产融管理公司担任GP 认缴200万元，占比0.10%。基金首期出资到位1000万元，用于中国证券投资基金业协会备案。后续出 资根据投资项目投资决策金额及合伙企业运作需要，按各合伙人在基金中的认缴出资比例履行实缴出资 义务，具体出资金额和出资日期以基金管理人发出的缴款通知书为准。公司作为有限合伙人，以实际出 资比例享有基金投资收益，并承担相应亏损风险。 ...

格隆汇12月1日丨蜀道装备(300540.SZ)公布，为满足战略发展需求，加快推动产业布局优化和并购投资 项目落地实施，助力公司持续构建完善工业气体、清洁能源以及氢能产业平台，四川蜀道装备科技股份 有限公司拟与蜀道产融（四川）私募基金管理有限公司（简称"蜀道产融管理公司"）、蜀道（四川）股 权投资基金有限公司（简称"蜀道股权基金公司"）共同投资设立蜀道（四川）气体产业股权投资基金 （有限合伙）（暂定名，最终以工商注册为准），主要围绕工业气体（含特种气体、电子气体）、 LNG、氢能领域设立子基金或开展直接股权投资。基金规模20亿元，蜀道装备作为LP认缴100,000万 元，占比50.00%；蜀道股权基金公司作为LP认缴99,800万元，占比49.90%；蜀道产融管理公司担任GP 认缴200万元，占比0.10%。基金首期出资到位1000万元，用于中国证券投资基金业协会备案。后续出 资根据投资项目投资决策金额及合伙企业运作需要，按各合伙人在基金中的认缴出资比例履行实缴出资 义务，具体出资金额和出资日期以基金管理人发出的缴款通知书为准。公司作为有限合伙人，以实际出 资比例享有基金投资收益，并承担相应亏损风险。 ...

Core Viewpoint - Hainan Province is planning to establish a modern industrial system with a "45432" framework, focusing on optimizing existing industries and fostering new productive forces to enhance economic development [1][2]. Group 1: Industrial Optimization - The four leading industries in Hainan, namely tourism, modern services, high-tech industries, and tropical efficient agriculture, currently account for over 67% of the province's GDP. The province aims to enhance these sectors through chain supplementation and optimization during the 14th Five-Year Plan period [2]. Group 2: New Productive Forces - Hainan will leverage its unique resources to develop five new productive force tracks, including creating a "Southern Seed Silicon Valley," establishing a core hub for deep-sea technology innovation, expanding aerospace-related industries, developing a low-altitude economy, and building a green and low-carbon industrial supply chain [2]. Group 3: Future Industries - The province will focus on four cutting-edge fields: biomanufacturing, hydrogen energy, brain-computer interfaces, and embodied intelligence, to cultivate new hotspots for future industries [2]. Group 4: Consumer Development - Hainan plans to enhance its duty-free shopping reputation, develop the Boao Lecheng Medical Special Zone, and strengthen the "Study in Hainan" brand to boost consumption [2]. Group 5: Talent and Innovation - The province will implement the "Million Talents to Prosper Hainan" initiative to create a hub for technological innovation, reform, and open cooperation [3].

2024年中国氢能生产消费规模突破3650万吨。 氢能作为国家明确的未来产业重点方向，正迎来地方政策集中落地期。 第一财经记者梳理公开资料发现，近期辽宁、北京、河北、内蒙古、黑龙江相继发布"关于制定国民经 济和社会发展第十五个五年规划的建议"，均将氢能纳入规划当中。 值得注意的是，尽管地方政策密集落地为氢能产业发展提供了有力保障，但行业仍面临关键技术攻关、 应用成本下降、跨区域协同推进等挑战。 国务院发展研究中心原副主任、中国国际经济交流中心副理事长王一鸣表示，要强化应用场景导向的科 技攻关，针对工业、交通、能源三大主战场，加强科技攻关，持续降低氢能应用成本，通过场景需求倒 逼科技创新，形成"研发—示范—迭代"的良性循环。 河北以"加快建设新型能源强省"为目标，提出稳步开发利用地热资源，持续提升风电、太阳能发电总装 机容量占比，打造绿氢全产业链体系； 内蒙古聚焦现代能源经济发展，提出建设国家重要能源和战略资源基地，壮大风光氢储产业，打造绿氢 绿氨绿醇产业发展集群； 黑龙江则明确布局哈大齐绥新能源产业带和东部地区新能源产业集群，推进新能源产消一体化、绿电直 连，有序发展绿色液体燃料产业，推动新能源和可再生能源装 ...

编辑：潘煦 （央视财经《正点财经》）记者从中国氢能联盟获悉，目前我国绿氢年产能超22万吨，占全球总量的 50%以上；已建成加氢站540座，占全球比重达40%。"十五五"期间，我国将形成较为完备的氢能产业 技术创新体系、清洁能源制氢及供应体系。 转载请注明央视财经 ...

"十五五"期间，我国将加快推动氢能规模化发展，力争实现可再生能源制氢装机达到100吉瓦，形成较为完备的氢能产业技术创新体 系、清洁能源制氢及供应体系。 在宁夏，宁东可再生氢碳减排示范区已持续提供绿氢近1100万标方，实现碳减排约2万吨。数据显示，截至2025年9月底，我国清洁 氢项目投资额占全球比重的30%，居全球首位。 中国氢能联盟秘书长万燕鸣介绍，目前，我国绿氢产能已经超过每年22万吨，占全球50%以上；建成的加氢站已经超过540座，占全 球的40%。 同时，氢能产业相关创新技术不断涌现，电解水制氢成本降至20—30元/公斤区间，较2020年下降近40%，带动绿色氨醇、长输管 道、海洋氢能等领域加快突破。 央视网消息："十五五"规划建议中提出，要前瞻布局包括氢能和核聚变能在内的六大未来产业。数据显示，当前，我国氢能产业快 速发展，多项技术指标位居全球首位。 ...

IT之家注意到，在宁夏宁东可再生氢碳减排示范区，绿氢生产已取得显著成效。该示范区已持续提供绿氢近 1100 万标准立方米，实现碳减排约 2 万吨。截 至今年 9 月底，我国清洁氢项目投资额占全球比重的 30%，位居全球首位。 据中国氢能联盟秘书长万燕鸣介绍，我国绿氢产能已超过每年 22 万吨，占全球总量的 50% 以上；建成的加氢站数量超过 540 座，占全球的 40%。 IT之家 12 月 1 日消息，据央视新闻报道，"十五五"规划建议明确提出，要前瞻布局包括氢能和核聚变能在内的六大未来产业。数据显示，当前我国氢能产 业快速发展，多项技术指标位居全球首位。 与此同时，氢能产业相关创新技术不断涌现。电解水制氢成本大幅下降，降至 20~30 元 / 公斤区间，较 2020 年下降近 40%。这一成本的降低有力地推动了 绿色氨醇、长输管道、海洋氢能等领域的技术突破。 "十五五"期间，我国将加快推动氢能规模化发展。力争实现可再生能源制氢装机达到 100 吉瓦，形成较为完备的氢能产业技术创新体系和清洁能源制氢及供 应体系。 ...

Core Viewpoint - ExxonMobil has paused its flagship low-carbon hydrogen and ammonia integrated production project at the Baytown refinery in Texas due to unmet market demand, reflecting broader challenges in the global low-carbon hydrogen industry [1] Group 1: Project Details - The Baytown project was initially positioned as the "world's largest low-carbon hydrogen project," with a planned daily production of 1 billion cubic feet of low-carbon hydrogen and an annual output of over 1 million tons of low-carbon ammonia [1] - The project had already seen a $500 million initial investment from its partners, with Abu Dhabi National Oil Company holding a 35% stake [1] Group 2: Industry Challenges - Multiple key hydrogen projects have been shelved, attributed to weakened support for clean energy in the U.S. and uncertainties surrounding the Inflation Reduction Act's 45V hydrogen tax credit, which faces potential revocation risks due to the advancement of the "Big and Beautiful Act" [1] - Brian Murphy, head of hydrogen research at S&P Global, noted that the project's large capacity made it challenging from the outset, compounded by policy fluctuations in the U.S., Europe, and the International Maritime Organization, which hinder long-term purchase agreements and financing conditions [1] - The 45V clause's final regulations impose strict standards on carbon emissions intensity, making it nearly impossible for the Baytown project's "natural gas hydrogen + carbon capture" model to qualify for the maximum credit of $3 per kilogram [1] Group 3: Market Economics - Platts Energy Information assessed that the offshore price for ammonia exports in the U.S. Gulf Coast is $600 per ton, indicating that market conditions do not support the project's economic viability [1] - The suspension of the Baytown project highlights a common dilemma faced by the global low-carbon hydrogen industry, characterized by policy uncertainty, high technology costs, and insufficient market demand [1]

"十五五"规划建议中提出，要前瞻布局包括氢能和核聚变能在内的六大未来产业。数据显示，当前我国氢能产业快速发展，多项技术指标位居全球首位。 同时，氢能产业相关创新技术不断涌现，电解水制氢成本降至20~30元/公斤区间，较2020年下降近40%，带动绿色氨醇、长输管道、海洋氢能等领域加快突 破。 "十五五"期间，我国将加快推动氢能规模化发展，力争实现可再生能源制氢装机达到100GW，形成较为完备的氢能产业技术创新体系、清洁能源制氢及供 应体系。 责编:刘安琪 | 审核:李震 | 监审:古筝 （来源：央视新闻） 在宁夏，宁东可再生氢碳减排示范区已持续提供绿氢近1100万标方，实现碳减排约2万吨。数据显示，截至今年9月底，我国清洁氢项目投资额占全球比重的 30%，居全球首位。 中国氢能联盟秘书长 万燕鸣：目前，我国的绿氢产能已经超过每年22万吨，占全球的50%以上；建成的加氢站已经超过540座，占全球的40%。 ...

Summary of Hydrogen Energy Industry Conference Call Industry Overview - The hydrogen energy policy framework in China is gradually improving, with hydrogen energy being included in government work reports since 2019 and officially recognized in the 2024 Energy Law, enhancing its status alongside oil, natural gas, and coal [5][4][3] - The hydrogen industry is transitioning from laboratory research to commercial application during the 14th Five-Year Plan (2021-2025), currently in a small-scale demonstration phase [5][4] Key Points and Arguments - **Hydrogen Production Technologies**: - **Coal-based Hydrogen**: Lowest cost at approximately 10.2 CNY/kg but has high carbon emissions and is limited by resource availability [6] - **Natural Gas-based Hydrogen**: Widely used globally, costing about 22.3 CNY/kg, but still non-renewable and resource-scarce [6] - **Industrial By-product Hydrogen**: Low cost but limited by production volume, suitable for short-term transitional solutions [6] - **Electrolysis-based Hydrogen**: Encouraged as a low-carbon option, with costs significantly influenced by electricity prices; current costs exceed 50 CNY/kg but can drop below 11.5 CNY/kg with lower electricity rates [6][7] - **Hydrogen Storage and Transportation**: - Gaseous storage is the mainstream method but has low efficiency; liquid storage is denser but costly and requires low temperatures [8] - Over 200 hydrogen refueling stations are expected to be operational by the end of 2024, primarily in regions like Beijing-Tianjin-Hebei and the Yangtze River Delta [8] - **Climate Change Impact**: - Stricter global emission reduction targets are accelerating the transition to clean energy, with supportive policies from various governments enhancing the hydrogen industry's development [9] - **Future Competition in Hydrogen Industry**: - Competition will shift from price to quality, focusing on technology level, energy consumption control, lifespan, and after-sales service [10] Additional Important Insights - **Challenges in Hydrogen Storage and Transportation**: - Current storage methods face challenges such as low density in gaseous storage and high costs in liquid storage; solid-state storage is still in the experimental phase [11] - Transportation primarily uses compressed gas, which is economical for short distances but not suitable for long-distance transport [11] - **Hydrogen Refueling Station Challenges**: - High construction costs and profitability issues hinder the establishment of refueling stations; government subsidies are necessary to support these initiatives [12] - Integrated energy stations combining various fuel types are emerging as a solution to improve economic viability [12] - **Industrial Decarbonization Using Green Ammonia**: - Green ammonia can significantly reduce carbon emissions in industrial applications such as methanol synthesis and steel production [13] - **Fuel Cell Vehicle Development**: - Fuel cell vehicles are primarily used in commercial applications, facing high costs that require policy support for wider adoption; potential for significant economic benefits by 2030 with technological advancements [14] - **Trends in the Hydrogen Industry**: - The industry is expected to grow rapidly during the 14th Five-Year Plan, driven by policy support and technological advancements, moving towards commercial operation [15]