[SMM Analysis] The Hydrogen Energy Industry Chain Was Active This Week, With Fundraising Becoming the Primary Goal

Published: Feb 27, 2025 11:07

This week, multiple enterprises in the hydrogen energy industry chain have been actively engaged in various activities. Whether through additional share issuance for acquisitions, entrusted loans, or IPO underwriting tenders, fundraising has become their common primary goal.

Yihuatong Plans Additional Share Issuance to Acquire Xuyang Hydrogen Energy: Entire Industry Chain Integration Underway

Yihuatong (688339.SH), a leading domestic supplier of hydrogen fuel cell systems, recently announced plans to acquire 100% equity and assets of Dingzhou Xuyang Hydrogen Energy Co., Ltd. ("Xuyang Hydrogen Energy") through a share issuance. This announcement has garnered widespread market attention. Xuyang Hydrogen Energy, specializing in hydrogen production and supply, possesses mature hydrogen production technology and a stable customer base. By acquiring Xuyang Hydrogen Energy, Yihuatong is expected to achieve entire industry chain integration from fuel cell systems to hydrogen supply, further consolidating its leading position in the hydrogen energy industry.

For Yihuatong, this acquisition not only secures a stable hydrogen supply source but, more importantly, enables the company to reduce production costs and improve operational efficiency through entire industry chain integration, thereby gaining a more advantageous position in the fiercely competitive market. Additionally, the integration is expected to bring technological synergies, driving innovation and upgrades in hydrogen production and fuel cell systems.

Jidian Shares Secures 2.5 Billion Yuan Entrusted Loan to Support Hydrogen Energy Projects: Funding Accelerates Development

Meanwhile, Jilin Electric Power Co., Ltd. ("Jidian Shares") also announced positive news. The company has secured an entrusted loan of 2.5 billion yuan, which will primarily be used for the development of green hydrogen-based energy projects. As a publicly listed firm under the State Power Investment Corporation (SPIC), Jidian Shares has already established a significant presence in the hydrogen energy industry. This substantial funding support will undoubtedly inject strong momentum into the development of its hydrogen energy business.

The funds will mainly be allocated to R&D and equipment procurement for hydrogen production, storage, transportation, and application. By increasing investment, Jidian Shares is expected to further accelerate the implementation and construction of hydrogen energy projects, promoting the large-scale development of the hydrogen energy industry. This will also create new business growth opportunities and enhance profitability for the company. More importantly, this financing will strengthen Jidian Shares' market position in the hydrogen energy industry, laying a solid foundation for its future development.

Guohydrogen Technology Launches IPO Underwriting Tender: Clear Intent to Target the STAR Market

In addition, SPIC Hydrogen Energy Technology Development Co., Ltd. ("Guohydrogen Technology") has initiated an IPO underwriting tender, signaling its active preparation for listing on the STAR Market. As a technology-driven enterprise in the hydrogen energy sector under SPIC, Guohydrogen Technology has achieved remarkable results in recent years. This IPO underwriting tender is expected to not only raise more funds to drive its further development in the hydrogen energy industry but also add more highlights to its performance in the capital market.

In the future, SMM will continue to monitor developments in the hydrogen energy financial sector.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
In January, national passenger car producers' new energy wholesale estimates reached 900,000 units, up 1% YoY.
20 hours ago
In January, national passenger car producers' new energy wholesale estimates reached 900,000 units, up 1% YoY.
Read More
In January, national passenger car producers' new energy wholesale estimates reached 900,000 units, up 1% YoY.
In January, national passenger car producers' new energy wholesale estimates reached 900,000 units, up 1% YoY.
According to the latest data from the Passenger Car Association, in December 2025, producers with new energy wholesale sales exceeding 10,000 units accounted for 93% of the total wholesale sales of passenger NEVs that month. Based on preliminary January data, these producers achieved sales of 830,000 units in January. As most producers have already locked in their major sales figures, by applying the structural proportion from the previous month to the current month's data, the estimated wholesale sales of passenger NEVs nationwide in January were 900,000 units. According to comprehensive preliminary monthly association data: the estimated wholesale sales of NEVs by national passenger car producers in January 2026 were 900,000 units, up 1% YoY.
20 hours ago
CAAM: In 2025, 476,000 complete vehicles were imported, down 32.4% YoY.
20 hours ago
CAAM: In 2025, 476,000 complete vehicles were imported, down 32.4% YoY.
Read More
CAAM: In 2025, 476,000 complete vehicles were imported, down 32.4% YoY.
CAAM: In 2025, 476,000 complete vehicles were imported, down 32.4% YoY.
据中国汽车工业协会整理的海关总署数据显示,2025年12月,汽车整车进口3.0万辆,环比下降30.4%,同比下降56.1%;进口金额14.7亿美元,环比下降23.6%,同比下降52.5%。2025年,汽车整车进口47.6万辆,同比下降32.4%;进口金额236.4亿美元,同比下降39.7%。
20 hours ago
Canada Announces New EV Strategy, to Collaborate with China
20 hours ago
Canada Announces New EV Strategy, to Collaborate with China
Read More
Canada Announces New EV Strategy, to Collaborate with China
Canada Announces New EV Strategy, to Collaborate with China
According to CCTV News, on February 5, Canadian Prime Minister Mark Carney announced a new electric vehicle strategy, including the reinstatement of car purchase subsidies, and stated that Canada will cooperate with China to promote the local production and export of EVs in Canada. According to a statement released by the Prime Minister's Office of Canada, the country will make full use of existing and newly established trade agreements, including a recently reached EV cooperation agreement with China, to facilitate large-scale investment in this sector, diversify Canada’s automotive export markets, and position Canada as one of the global leaders in the electric vehicle industry.
20 hours ago