Insiders learned that the medium and long-term plan for the development of China’s hydrogen energy industry is expected to be released in the near future. According to incomplete statistics, Beijing, Shanghai, Guangzhou, Zhejiang, Jiangsu, Guizhou and Sichuan provinces have issued policies or plans related to hydrogen energy. According to the prediction of China gas energy alliance, the output value of China’s hydrogen energy industry will reach 1 trillion yuan from 2020 to 2025 and 5 trillion yuan from 2026 to 2035
Notice: the national development and Reform Commission will hold a press conference at 10:00 tomorrow to introduce the medium and long-term planning for the development of hydrogen energy industry
The national development and Reform Commission is scheduled to hold a press conference at 10:00 a.m. on March 23 (Wednesday) to introduce the medium and long-term plan for the development of hydrogen energy industry (20212035). Relevant responsible comrades of the national development and Reform Commission and the National Energy Administration attended the press conference.
Hydrogen industry welcomes the catalyst again: medium and long-term planning is about to be released, and this link is intensively optimistic
The medium and long-term plan for the development of China’s hydrogen energy industry will be issued soon. The national development and Reform Commission announced that it would hold a press conference at 10:00 a.m. on March 23 (Wednesday) to introduce the medium and long-term plan for the development of hydrogen energy industry (20212035).
As an ideal clean energy under the goal of carbon neutralization, hydrogen energy has frequently received government policy support in recent years. Beijing, Shanghai, Guangzhou, Zhejiang, Jiangsu, Guizhou and Sichuan provinces have issued policies or plans related to hydrogen energy.
Now, the important blueprint of medium and long-term planning for the development of hydrogen energy industry is about to be clarified. The superposition industry has a broad market, and China’s hydrogen energy industry will usher in a new round of catalyst.
Which links of the industrial chain are expected to accelerate development?
The hydrogen energy industry chain involves many core parts. With the policy warming up since last year, hydrogen energy enterprises have made clearer the amount of subsidies and product pricing, and the orders of relevant industrial chains, especially fuel cell vehicles, have increased significantly.
According to the statistics of China Automobile Association, the national production and sales data of hydrogen fuel cell vehicles in 2021 were 1777 and 1586 respectively, with a year-on-year increase of 48.2% and 34.7%. In addition, the shipments of hydrogen production, electrolytic cell and storage / transportation / processing industrial chain equipment increased significantly, and the central enterprises and energy leading enterprises also gradually increased their investment in hydrogen energy projects.
Sort out the whole industrial chain and the upstream part, mainly including hydrogen production, storage and transportation and hydrogenation. Among them, hydrogenation link and hydrogenation station are important infrastructure. China aims to build at least 1000 hydrogen refueling stations by 2025, with a compound growth rate of 53% from 2020 to 2025. In the cost composition of hydrogenation station, the equipment investment accounts for 45% Soochow Securities Co.Ltd(601555) pointed out that equipment localization is the most important means to reduce costs, and core equipment manufacturers are expected to benefit.
In the midstream, hydrogen fuel cells and systems dominate. Fuel cell system and hydrogen storage system account for 65% of the cost of the whole vehicle, which is much higher than that of lithium battery of electric vehicle.
In the downstream part, hydrogen fuel cell vehicles have become a breakthrough in the development of terminal applications. Today, China’s national subsidy policy for fuel cell vehicles has been fully implemented, and the “3 + 2” national fuel cell vehicle demonstration pattern has been officially formed. It is worth mentioning that on March 18, the Ministry of industry and information technology issued the key points of automobile standardization in 2022 to comprehensively promote the research on the standards of many key system components of fuel cell electric vehicles.
However, the high cost of the whole industrial chain is the main factor restricting the development of hydrogen energy industrialization Citic Securities Company Limited(600030) pointed out that there is room for cost reduction in key fields such as green hydrogen preparation, hydrogen transportation and storage, fuel cell stack and so on.
Organization intensive, optimistic about the prospects of equipment manufacturers
Generally speaking, as the industry is still in the early stage of industrialization, head shuffling occurs frequently. With the determination of technical route, large-scale market demand and scale effect, analysts are optimistic that local manufacturers with first mover advantage will stand out.
Combing the research and judgment of various institutions, it can be seen that Soochow Securities Co.Ltd(601555) , China Industrial Securities Co.Ltd(601377) , Everbright Securities Company Limited(601788) , China Merchants Securities Co.Ltd(600999) are optimistic about the “shovel sellers” in the industry, and it is suggested to pay attention to the main equipment targets in all links under the high climate for a long time.
For example, Houpu Clean Energy Co.Ltd(300471) , Fujian Snowman Co.Ltd(002639) , Moon Environment Technology Co.Ltd(000811) , Zhangjiagang Furui Special Equipment Co.Ltd(300228) , Hangzhou Zhongtai Cryogenic Technology Corporation(300435) respectively have leading technical reserves in the fields of hydrogenation equipment, hydrogen compression and fuel cell air compressor, diaphragm compressor and air compressor, hydrogen valves and large-scale hydrogen production, and some companies’ businesses have reached the international advanced level.
In addition, Tianfeng Securities Co.Ltd(601162) thinks it can pay attention to parts manufacturers, including jiehydrogen Technology (SAIC split plans to be listed on the scientific innovation board), Beijing Sinohytec Co.Ltd(688339) , Weichai Power Co.Ltd(000338) , Weifu High-Technology Group Co.Ltd(000581) , Pan Asian Microvent Tech (Jiangsu) Corporation(688386) , etc; And Saic Motor Corporation Limited(600104) , Great Wall Motor Company Limited(601633) , Yutong Bus Co.Ltd(600066) and other vehicle enterprises. (source: Cailian)
