Core Viewpoint - Gome's founder Huang Guangyu is making a significant pivot into the hydrogen energy sector, establishing Beijing Gome Hydrogen Energy Technology Co., Ltd. and quickly forming strategic partnerships, reflecting a desperate attempt to revive the struggling retail business [5][6][12]. Group 1: Company Overview - Beijing Gome Hydrogen Energy was established on September 10 with a registered capital of 10 million yuan, controlled by Huang Guangyu [5][12]. - The company aims to cover multiple core areas of the hydrogen energy industry, including hydrogen production, storage, fuel cells, and related technologies [13]. - Huang Guangyu's rapid actions, including attending a hydrogen energy conference and signing a strategic cooperation agreement with Guohua Technology, indicate a strong commitment to this new venture [12][13]. Group 2: Financial Challenges - Gome Retail has faced severe financial difficulties, with a market value dropping below 1 billion HKD as of September 19, a significant decline from its peak [5][6]. - The company has reported continuous losses since 2017, with a net profit loss of 11.63 billion yuan in 2024, marking a 15.63% increase in losses year-over-year [18]. - Gome's total liabilities reached 42.2 billion yuan, with a debt-to-asset ratio of 209.23%, indicating a precarious financial situation [18]. Group 3: Industry Context - The hydrogen energy sector is characterized by its early-stage development, requiring substantial investment and long-term technological accumulation [22][23]. - There are over 3,000 companies involved in the hydrogen industry in China, leading to challenges in industry chain collaboration and market maturity [23]. - The current hydrogen energy market faces uncertainties, including the need for policy support and the lack of clear carbon trading benefits for hydrogen energy companies [23][24].