Core Viewpoint - The company is actively developing its capabilities in hydrogen equipment manufacturing and aerospace product processing, with a focus on emerging business areas [2] Group 1: Hydrogen Equipment Manufacturing - The company is making steady progress in the production capacity construction and process technology development of its liquid hydrogen tank project [2] - The relevant product trial production has been completed, and the company has entered the product testing phase [2] Group 2: Aerospace Product Processing - Revenue from the aerospace product processing business has increased compared to last year, although its contribution to overall business profits remains limited due to its low proportion in total revenue [2] - The company plans to gradually increase the share of emerging businesses in its overall operations and further optimize its industrial structure [2]

Core Viewpoint - The company is progressing normally in the construction of production capacity and technological development for its liquid hydrogen tank project, having completed product trial production and currently conducting product testing [2] Company Summary - The company has confirmed that the production capacity construction and process technology development for the liquid hydrogen tank project are proceeding as planned [2] - The company has completed the trial production of related products and is now in the phase of product testing [2]

Group 1 - The Wuhan Municipal Hydrogen Industry Development Three-Year Action Plan (2025-2027) emphasizes accelerating the development of hydrogen equipment and fuel cell vehicles, along with the construction of zero-carbon industrial parks and hydrogen technology industrial parks [1] - The plan includes promoting the development of hydrogen storage and transportation equipment, accelerating the industrialization of liquid hydrogen transportation technology, and supporting the application of liquid organic solvent hydrogen storage equipment [1] - The report from Huayuan Securities suggests that with declining electricity prices, rising carbon prices, policy support, and increasing orders for green fuels, the construction rate of green hydrogen projects is expected to gradually increase [1] Group 2 - Zhongyin Securities indicates that energy conservation and carbon reduction are the core drivers for the development of hydrogen energy in China, with an expected increase in hydrogen application scale in industries such as steel, refining, and synthetic ammonia [2] - By 2025, China is expected to establish a standard system for the entire hydrogen energy chain, supporting the development of hydrogen energy [2] - The report recommends companies such as Huadian Technology, Huaguang Huaneng, Sunshine Power, and Longi Green Energy, while also suggesting attention to China Tianying and Jidian Co., Ltd. [2]

Core Viewpoint - Wuhan's Hydrogen Industry Development Three-Year Action Plan (2025-2027) aims to accelerate the development of hydrogen equipment and fuel cell vehicles, focusing on infrastructure and manufacturing enhancements [1] Group 1: Hydrogen Equipment and Fuel Cell Vehicles - The plan emphasizes the acceleration of intelligent manufacturing for hydrogen equipment and the establishment of zero-carbon industrial parks and hydrogen technology industrial parks [1] - It promotes the development of hydrogen storage and transportation equipment, including the industrialization of liquid hydrogen tank transportation technology and the application of liquid organic solvent hydrogen storage equipment [1] - There is a focus on increasing production of key products such as hydrogen electrolysis cells and hydrogen compressors, along with optimizing reward policies for hydrogen equipment manufacturing enterprises [1] Group 2: Hydrogen Infrastructure Development - The plan advocates for the construction of hydrogen refueling infrastructure, with a strategy to compile hydrogen station construction plans based on a principle of moderate advancement [1] - It aims to simplify approval processes and prioritize the construction of hydrogen stations along the third and fourth ring roads, creating a hydrogen refueling loop [1] - The initiative encourages the renovation and expansion of existing gas stations to include hydrogen facilities, promoting the establishment of integrated energy stations that combine oil, gas, electricity, and hydrogen [1]