8月27日，多家上市公司通过互动平台、披露投资者关系活动记录表等渠道披露公司在燃气、液冷等方 面最新情况： 【燃气】 九丰能源：为低轨卫星发射任务提供特燃特气产品保障 【金属】 盛达资源：金山矿业上半年生产的含金银精粉于三季度开始逐步实现销售 【液冷】 【其他】 万马科技：公司通信行业用智算中心液冷服务器机柜尚在研发中 溯联股份：有关公司与液冷行业客户合作的情况目前尚处于保密阶段 康达新材：参股子公司产品应用于天宫一号与神舟九号任务 浙江震元：S1产线（组氨酸产品）定于8月底正式投产 德尔股份：公司有氢气加注机和膜电极相关的技术储备 拓邦股份：公司空心杯电机及组件已与人形机器人头部客户建立了紧密合作，并已获得批量订单 ...

德尔股份在互动平台表示，公司有氢气加注机和膜电极相关的技术储备。公司会根据氢能源行业未来市 场发展情况，审慎评估相关技术或产品的市场推广计划。 ...

Investment Rating - The report maintains a positive investment rating for the hydrogen energy industry, indicating a favorable outlook [9]. Core Insights - The hydrogen energy industry is currently facing a bottleneck in development, leading to some market skepticism. However, significant policy support and major projects continue to advance the industry [2][6]. - The Chinese government has reiterated the importance of hydrogen energy alongside wind and solar power, emphasizing its integration into various applications [15][19]. - Major hydrogen projects are being launched, including the approval of a green hydrogen pipeline in Inner Mongolia and the commencement of the largest green hydrogen-ammonia project in Chifeng, marking a shift towards commercial operation [6][45]. Summary by Sections Industry Development - The hydrogen energy industry is experiencing strategic advancements, with ongoing major projects and policy support. The approval of the green hydrogen pipeline is expected to reduce transportation costs and enhance hydrogen consumption in North China [6][43]. - The production of green hydrogen and ammonia is entering a new phase, with significant projects being operationalized, such as the one in Inner Mongolia that aims for a production capacity of 320,000 tons of green ammonia annually [45]. Market Performance - The production and sales of hydrogen fuel cell vehicles have not met expectations, with a significant decline in both production (down 47.7%) and sales (down 46.8%) in the first half of 2025 compared to the previous year [12][40]. - The implementation of policies such as highway toll exemptions for hydrogen vehicles across multiple provinces aims to alleviate operational costs and stimulate demand [36][37]. IPO Activity - Companies like Dongyue Future Materials and Hongji Chuangneng have submitted IPO applications, indicating a growing acceptance of hydrogen energy firms in the capital market. This trend reflects the industry's maturation and the potential for further investment in key sectors [49][50].

Core Viewpoint - China Cinda is committed to enhancing its financial services to support the development of Shanghai as an international financial and technological innovation center, focusing on the integration of finance and technology [2][5]. Group 1: Financial Support for Technology and Innovation - China Cinda has established multiple industry research teams and expert service teams to provide tailored financial services for strategic emerging industries such as semiconductors, biomedicine, new energy, and new materials [2]. - As of the end of Q1 2025, the loan balance for strategic emerging industries reached 9.376 billion, reflecting a growth of over 5% since the beginning of the year [2]. - The company has invested over 2 billion in artificial intelligence enterprises, helping them reduce leverage and enhance market competitiveness [3]. Group 2: Addressing Financial Challenges for New Economy Enterprises - China Cinda has invested over 1.5 billion in various funds to support specialized and innovative enterprises facing financial difficulties [4]. - The company provided a credit line of 50 million to a leading energy technology company to help it overcome liquidity issues during a critical development phase [4]. - Cinda's Shanghai branch has cumulatively invested over 2 billion in the semiconductor industry, aiding more than 20 semiconductor companies through various financial support mechanisms [3]. Group 3: Urban Development and Economic Revitalization - China Cinda has invested 2.4 billion in revitalizing low-efficiency buildings and supporting urban renewal projects in Shanghai [5][6]. - The company has collaborated with various financial institutions to resolve overdue loan risks and support urban renewal initiatives, investing over 7 billion in these efforts [6]. - Continuous participation in international trade events has allowed China Cinda to provide high-quality cross-border financial services, enhancing its role in the global market [6].

Core Insights - Hydrogen energy is viewed as a "ultimate energy" due to its zero emissions and high energy efficiency, with significant potential in the transportation sector [1] - The establishment of hydrogen energy demonstration lines in Hubei province reflects the region's commitment to developing the hydrogen industry through practical applications [1][2] - The Wuhan Economic and Technological Development Zone has become a hub for hydrogen energy, housing 70% of the city's high-end equipment R&D and manufacturing core enterprises [3] Group 1: Hydrogen Energy Applications - Three hydrogen fuel heavy-duty trucks are currently in operation along the Hanyi Expressway, showcasing the practical use of hydrogen energy in logistics [1] - The hydrogen fuel trucks can be refueled in just 10 minutes and have a range of 400 kilometers, contributing to a reduction of 100 tons of CO2 emissions annually for a typical usage of 100,000 kilometers [1] - The Hubei hydrogen energy demonstration line has been operational since March, with approximately 30 hydrogen fuel trucks making daily trips [1] Group 2: Industry Development - The National Electric Power Investment Corporation established the Central China Hydrogen Energy Industry Base in Wuhan, focusing on the R&D and production of core components for fuel cells [2] - The base has achieved an annual production capacity of 5,000 hydrogen fuel cell stack systems, with over 500 units sold nationwide in 2023 [2] - The hydrogen energy industry in Wuhan has reached a scale of 15.5 billion yuan in 2023, with 16 key enterprises contributing to a complete industry chain from hydrogen storage to vehicle production [2] Group 3: Future Prospects - The opening of the Wuhan Hydrogen Technology Industrial Park and the announcement of five new hydrogen projects with over 3 billion yuan in investment mark a new development phase for the hydrogen industry in Wuhan [2] - The local government anticipates a promising future for the hydrogen industry as application scenarios continue to expand [3]

Core Viewpoint - The article emphasizes the comprehensive analysis of PEM hydrogen production technology, covering its industrial chain, technological advancements, cost structure, and market potential, providing strategic insights for industry stakeholders [2][4]. Group 1: Industry Overview - The number of domestic enterprises involved in the PEM hydrogen production technology industry chain has exceeded one hundred [5]. - The proportion of PEM route projects disclosed for water electrolysis hydrogen production is relatively small, accounting for approximately 8% as of 2024 [4]. - The average bidding price for PEM electrolyzers dropped to about 3300 yuan/kW in the first quarter of 2025 [4]. Group 2: Technological Insights - The report compares four types of water electrolysis hydrogen production technologies, highlighting the principles of PEM electrolysis [11]. - "ALK+PEM" has emerged as a new trend in green hydrogen project applications [6]. Group 3: Application and Market Analysis - PEM hydrogen production technology has significant applications in the transportation sector, with a considerable number of projects and scale [8]. - The report analyzes the economic viability and development potential of various application scenarios, including hydrogen storage, green hydrogen chemical production, and hydrogen agriculture [2].

根据协议，擎动科技将依托其在PEM电解水催化剂、膜电极工艺领域的研发优势，与 SANG-A Frontec 在质子交换膜材料制备及精密涂布技术方面的专 长深度融合， 共同开发高性能、长寿命的质子交换膜及膜电极产品， 以降低绿氢制备成本并提升电解效率。 "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 势银数据： 势银数据产品服务 势银咨询： 势银咨询顾问服务 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 绿色燃料 群 5月20日上午， 苏州擎动动力科技有限公司（以下简称"擎动科技"）与韩国SANG-A Frontec公司于擎动科技苏州总部正式签署战略合作协议 。 双方宣布将 围绕质子交换膜（PEM）电解水技术中的核心材料——质子交换膜及膜电极的研发与生产展开深度合作 ，共同推动绿氢产业链关键技术的 突破与规模化应用。 聚焦核心材料，深化技术协同 签约仪式上，韩国SANG-A Frontec公司总经理李俊燮（Lee Jun Sub）、新业务团队经理李笵熙（Lee Beom Hee），与擎动科技总经 ...