Jethydrogen Technology, a subsidiary of SAIC, is to be spun off to be listed in Science and Technology Innovation Board.

On the evening of November 25, SAIC announced that it planned to spin off hydrogen technology to Kechuang board for listing. Through the spin-off and listing, JH Technology will become an independent listed public company.

The announcement pointed out that through this spin-off and listing, SAIC will further achieve business focus, focusing on the development of five business sectors, namely, complete vehicles, spare parts, mobile travel and services, finance and international operation. speed up the transformation to a user-oriented high-tech company with mobile travel services and products featuring technology upgrading, business globalization, brand upgrading and experience maximization.

At the same time, Jethydrogen Technology will be built into an independent listing platform for hydrogen energy and hydrogen fuel cell business under the company, and the investment in core technologies of hydrogen energy and hydrogen fuel cell business will be further increased through the listing of Science and Technology Innovation Board. To achieve bigger and stronger hydrogen energy and hydrogen fuel cell business plate, enhance the profitability and comprehensive competitiveness of hydrogen energy and hydrogen fuel cell business.

At present, China's hydrogen energy industry has ushered in a great opportunity for development, and the development of hydrogen fuel cell vehicle industry has also entered the initial stage of commercial application from the technological exploration stage. The first domestic hydrogen energy MPV, SAIC Chase MAXUS EUNIQ 7, has also been officially listed on the market. In order to seize the opportunity of industry development, some competitive enterprises have achieved or are seeking listing, actively embrace the capital market, and become the driving force for enterprises to lay out new businesses and achieve sustainable development.

Based on this, the split listing of JH technology will help to speed up the industrialization and commercialization of hydrogen energy and hydrogen fuel cells, help SAIC optimize the layout, further improve the construction of the industrial chain, cultivate and develop new economic growth points, and enhance the comprehensive competitiveness of SAIC. At the same time, it will help JH Technology to enhance the core technological competence and market competitiveness of hydrogen energy and hydrogen fuel cell industry.

Based on the M4 stack platform, JH Technology launched three new products, namely: JH Qiyuan M4H fuel cell stack, JH Qiyuan P4H fuel cell system and JH Qiyuan P4L fuel cell system (photo source: Geshi Automotive)

With regard to Jethydrogen Technology, which was established in 2018, it is mainly engaged in the research, design, manufacture, sales and engineering services of hydrogen fuel cell stacks, systems and core components. SAIC is a key carrier for SAIC to deepen the capacity building of hydrogen energy and hydrogen fuel cell business.

In October this year, the world's leading M4H fuel cell stack was launched, with a degree of autonomy and a localization rate of 100%. The core technical index of the JH Qiyuan series fuel cell system equipped with M4H stack is the top level in the world represented by Toyota.