Core Insights - The company expects its hydrogen retail business to achieve a year-on-year growth of 100% by 2025, expanding its customer base across key strategic sectors such as semiconductors, advanced materials, and biomedicine [1] - The Luoyang hydrogen production project is anticipated to commence operations in the first half of 2026, with a projected annual hydrogen supply capacity of 22.6 million cubic meters, significantly boosting the company's hydrogen business and market share [1] - The "14th Five-Year Plan" emphasizes the strategic layout of future industries, positioning hydrogen energy alongside nuclear fusion and quantum technology as key growth points for the new economy [1] Industry Overview - Hydrogen is recognized as a crucial substance for transitioning from traditional to clean energy and supporting the upgrade of high-end manufacturing, with applications spanning energy, industry, transportation, electronics, and biomedicine [1] - Hydrogen serves as an ideal clean energy carrier and is essential in modern industrial systems, particularly in the production of ammonia and methanol, as well as in semiconductor manufacturing and advanced materials processing [2] - The company is expanding its industrial chain into high-value sectors, having established a comprehensive competitive capability from core equipment development to scenario-based solution delivery [2] Market Dynamics - According to Fortune Business Insights, the global hydrogen energy market is projected to grow from $229.53 billion in 2025 to $353.52 billion by 2032, with a compound annual growth rate of 6.36% [3] - The Asia-Pacific region is expected to dominate the global hydrogen energy market, holding a market share of 47.91% in 2024 [3] - The company has developed a synergistic model of "investment + manufacturing + sales + service," driving sales performance and diversifying application markets in the hydrogen energy sector [3] Strategic Positioning - The company is leveraging its full industrial chain layout to capitalize on industry development opportunities, aiming to solidify its benchmark position in the industrial gas sector and seize opportunities in emerging strategic sectors [4]