Hydrogen energy is written into the government work report for the first time, making this industry the center of attention. Industry insiders believe that hydrogen fuel cells have zero emissions, zero pollution characteristics, is the ultimate new energy power solutions. Fuel cell development will set off a new round of energy revolution, the future hydrogen fuel cell market size can reach trillion level. With the support of the policy, the future of hydrogen energy may usher in an industrial outbreak.
Hydrogen energy is written into the government work report for the first time
On March 15, the State Council Information Office held a briefing on the government work report on the 83 revised interpretation. One of them attracted the attention of the market - "to promote the charging, hydrogen refueling and other facilities," which is the first time hydrogen energy written into the government work report. The industry believes that the revision of the government work report marks the importance of the government's utilization of hydrogen energy.
Hydrogen energy is written in the government work report for the first time to make this industry become the focus of attention. It is reported that hydrogen energy is a secondary energy, which is produced by using other energy sources through certain methods, unlike coal, oil and natural gas that can be extracted directly from the ground, relying almost exclusively on fossil fuels, hydrogen energy is regarded as the 21st century's most promising clean energy.
"Hydrogen energy has a unique advantage in renewable energy storage." Industry insiders point out that compared with pumped storage, compressed air, secondary batteries and other energy storage methods, hydrogen energy storage has fewer geographic constraints, wide scale adaptability, low investment costs, environmentally friendly and other significant features. Hydrogen fuel cell has the characteristics of zero emission and zero pollution, which is considered as the ideal technology for future clean and environmental protection, and is the ultimate new energy power solution. Fuel cell development will set off a round of energy revolution, hydrogen will replace part of the oil to become an important part of the energy system, the future market size of hydrogen fuel cell can reach trillion level.
Recently, the first wind power hydrogen industrial application project in China, Guyuan Wind Power Hydrogen Comprehensive Utilization Demonstration Project, has gained new progress. According to the news released by the project, the entire structure of the project, the entire building decoration has been completed, hydrogen production equipment is installed in place, hydrogen production system pipeline is completed 95%, the next step will be debugging equipment.
The information shows that Hebei Guyuan wind power hydrogen project for Hebei Province, a key project, with a total investment of 2.03 billion yuan, the project is invested by the Hebei Jiantou New Energy Co., Ltd. investment, and Germany McPhy, Encon and other companies to carry out technical cooperation, the introduction of German wind power hydrogen advanced technology and equipment, the construction of 200 megawatts of capacity of wind farms, 10 megawatts of electrolytic water hydrogen production system and The wind farm will be built in Guyuan County with a capacity of 200 MW, a 10 MW electrolytic water hydrogen production system and a hydrogen comprehensive utilization system.
In terms of fuel cells, China has established the "863 Plan Electric Vehicle Special Project" since 2001, and has identified three vertical and three horizontal strategies, including pure electric, hybrid electric and fuel cell vehicles as the three verticals, and multi-energy powertrain control, drive motors, and power storage batteries as the three horizontals. As the development of the fuel cell industry matures, support is gradually increasing. in November 2016, the "13th Five-Year Plan" for the development of strategic emerging industries proposed to systematically promote the research and development and industrialization of fuel cell vehicles.
"China's hydrogen energy industry infrastructure development blue paper" further depicts the development of China's hydrogen energy roadmap: by 2020, China's fuel cell vehicles to reach 10,000, the number of hydrogen refueling stations to reach 100, the industry's total output value of 300 billion yuan; by 2030, the number of fuel cell vehicles to be "bumped into line
Deng Yongkang, an analyst at Anxin Securities, mentioned in the report that during the two sessions, many representatives repeatedly mentioned the development of hydrogen fuel cell industry proposals, recommendations, etc., mainly including the strategic position to enhance, increase investment in technology research and development, subsidy policy and improve the implementation of the foundation, etc., the market is concerned about the unprecedented high.
The Commercialization of Fuel Cells
With the rapid development of China's economy, the automotive industry has become one of the pillar industries in China, and in 2007, China became the world's third largest producer of automobiles and the second-largest auto market. At the same time, automotive fuel consumption has also reached 80 million tons, accounting for about 1/4 of China's total oil demand. With energy supply becoming increasingly tight, the development of new energy vehicles is imminent. Hydrogen as a fuel for automobiles is undoubtedly one of the best choices.
Tianfeng Securities analysts Yang Zao, Yang Xingyu pointed out that 2019 will become the first year of commercialization of fuel cell vehicles, the future of fuel cell automotive systems in China will be mainly used in the field of commercial vehicles. Tianfeng Securities reported that electric vehicles have initially solved the problem of "can use", the next step is to solve the problem of "good use". The next step is to solve the problem of "good use", while the application of electric vehicles in the field of commercial vehicles has the pain points of high cost, inconvenient charging, poor winter experience, etc. Fuel cell is one of the most promising auxiliary solutions. The large-scale promotion of electric vehicles has also brought about progress in three electric technologies, laying a solid foundation for the promotion of fuel cell vehicles.
Deng Yongkang, an analyst at Anxin Securities, said that according to data from the Information Trends report, the global fuel cell passenger cars realized a sales scale of 3,260 units in 2017, a year-on-year increase of more than 40%. According to the data of China Association of Automobile Manufacturers (CAAM), China's fuel cell passenger cars have no products on the market for the time being, mainly focusing on fuel cell commercial vehicles, and realized 1,527 units of sales scale in 2018, a year-on-year growth of 20%, and with the promotion and implementation of the "10 cities and 1,000 vehicles" in the future, there will be a significant increase in the scale of sales in the future.
Another historic milestone in the field of fuel cell vehicle commercialization is that Weichai Power made an equity investment of about $163 million in Ballard in August 2018, and will hold 19.9% of its equity, becoming Ballard's largest shareholder. At the same time Weichai announced the supply of at least 2,000 fuel cell modules for commercial vehicles by 2021, the largest fuel cell vehicle deployment program for commercial vehicles in global history.
According to Fuji Keizai's forecast, the global fuel cell market is expected to reach 5.2 trillion yen (about 340 billion yuan) by 2025, of which the fuel cell vehicle market size will be more than 50%. the fuel cell vehicle market was only 300 million yen in 2011, and in the future, with the technology upgrades, hydrogen refueling stations, and other infrastructure improvements, and increased policy support. The global fuel cell vehicle market is expected to expand to 2.91 trillion yen (about RMB 190 billion) by 2025, accounting for more than half of the overall market.
Analysts pointed out that the hydrogen energy industry for the first time written into the government work report, marking the government's attention to the use of hydrogen energy. With the support of the policy, with the accelerated breakthrough of the core technology of fuel cells, the future of hydrogen energy may usher in an industrial outbreak. Related conceptual stocks, such as Donghua Energy (002221), Hongda Xingye (002002), Houpu shares (300471), Binhua shares (601678), Snowman shares (002639), Taiyang Electric (002249) is worth focusing on.
Individual Stocks
Donghua Energy (002221)
The company revealed at the end of last year that it had built the first commercially operated hydrogen refueling station in Jiangsu. The company said that hydrogen energy can be widely used in fuel cell vehicles, power generation, energy storage, as well as mixed into the natural gas for industrial and civil gas and other fields, can replace the oil and natural gas. Hydrogen energy industry is rich in connotation. The company attaches great importance to the comprehensive utilization of hydrogen energy, and in the next stage, it will open up the whole industrial chain of hydrogen energy utilization, give full play to the advantages of the economic benefits of hydrogen energy, and further enhance the competitive advantages of the whole industrial chain of LPG deep-processing.
Public information shows that the main business scope of Donghua Energy covers international and domestic trade of alkane resources, terminal retailing, deep processing of alkane resources and comprehensive utilization of hydrogen energy. Institutional analysis points out that the company last year to change the fund-raising investment in Ningbo PDH three, Ningbo cave warehouse and Lianyungang terminal storage tanks and other projects. The next 3-5 years is expected to build 7 sets of PDH and downstream deep processing projects, is expected to 19-21 years will be maintained annually 1-2 sets of PDH project put into operation of the rhythm, to 2022 the company's total production capacity of PDH and supporting PP is expected to reach 4.56 million tons and 3.2 million tons, to further consolidate the leading position, the company is optimistic about the long-term growth of the main industry and the extension of the layout of the hydrogen energy and new materials industry.
In addition, Donghua Energy has been assigned the shares of a number of companies to vigorously develop hydrogen energy. The company announced on March 6 that wholly-owned subsidiary Donghua Automobile intends to be assigned 33.33% of the equity of Donghua Clean Energy, a holding subsidiary of Donghua Energy, held by Wang Shangde. The company intends to be transferred wholly owned subsidiary Nanjing Donghua, Taicang Donghua and holding subsidiary Ningbo New Material held 23.66% equity in Zhangjiagang New Material, the company intends to be transferred 20% equity in Ningbo Chemical, after the completion of the transfer of the above equity, Zhangjiagang New Material became a wholly owned subsidiary of the company, Ningbo Chemical became a wholly owned subsidiary of the company.
Analysis points out that the hydrogen and fuel cell automobile industry has entered the early stage of commercialization. With the support of the policy, with the accelerated breakthrough of the core technology of fuel cells, the hydrogen energy industry chain enterprises are expected to benefit, as the hydrogen energy leading Donghua energy growth space is huge.
Houpu shares (300471)
On November 2 last year, Houpu shares announced that wholly-owned subsidiary Sichuan Houpu Excellent Hydrogen Energy Technology Co. The two companies will ****together promote the development, production and sales of hydrogen fuel cell electric vehicle refueling stations. Both parties will ****together promote the development of hydrogen energy industry chain to facilitate the construction of hydrogen refueling infrastructure in China. And on November 2, 2018, the Company signed the List of Joint Venture Terms and Conditions.
Houpu said that the Company, under the instruction of the hydrogen energy development policy, set up a joint venture with Air Liquide Advanced Technologies Limited, which will realize the resource ****sharing with Air Liquide Group of France in hydrogen energy, ****together to promote the hydrogen energy industry chain and facilitate the construction of hydrogen refueling infrastructure. This cooperation will lay a solid foundation for both parties to develop hydrogen energy business in the domestic and international markets, which will strengthen the Company's sustainable development capability and promote the development of the Company's hydrogen energy business in the future.
According to public information, Air Liquide is a global leader in technology and services in the field of industrial and medical gases, with more than 65,000 employees worldwide, operations in more than 80 countries, and providing services to more than 3.5 million customers and patients. The company is involved in the construction and investment in the operation of more than 100 hydrogen refueling stations (including 70Mpa hydrogen refueling stations) and 8 liquid hydrogen plants around the world, and has a wealth of data on refueling station equipment and related technologies.
Industry insiders pointed out that the main business of thick Pu shares based on clean energy high-end equipment manufacturing and the corresponding energy engineering consulting, design, construction. At present, the company has gradually formed a service capability covering the whole industry chain in the field of hydrogen refueling station from engineering design, core component development, complete set of equipment integration, system platform integration, hydrogen refueling station installation and commissioning, and after-sales service, etc. The company has successfully built four core advantages, including hydrogen refueling station design capability, core component development strength, and good relationship with multiple customers and perfect after-sales service system. The company's fuel cell vehicle business is a long-term benefit to the company.
Hongda Xingye(002002)
The company announced on the evening of February 18th, the company and the Beijing Institute of Aerospace Testing and Technology (BITT) "101" signed the "Hydrogen Project Cooperation Agreement", which aims to carry out cooperation in the research and development of hydrogen technology and the development of equipment.
The announcement shows that 101 was founded in 1958, is China's largest, most functional, technologically advanced aerospace power ground integrated test and research base, China's only hydrogen-oxygen engine research and test base. In the long-term scientific research and application, mastered a large-scale liquid hydrogen production, storage, long-distance transportation and safe use of technology, developed the corresponding equipment, the realization of a large-scale liquid hydrogen storage and use, the formation of a combination of highway, railroad transportation and pipeline delivery within the Bureau of liquid hydrogen comprehensive transit system for China's hydrogen and oxygen rocket development and launch to provide protection, is the most complete unit of the current domestic hydrogen research and testing of the basic conditions of the unit.
The company has a comprehensive liquid hydrogen transfer system that combines railroad transportation and pipeline transportation within the region.
Hongda Xingye said that the cooperation between the company and 101 from the hydrogen energy technology research and development, equipment development and promotion, etc., is of great significance to promote the development of hydrogen production and application. The cooperation between the two sides can bring each other unique and valuable skills, perspectives, and business benefits, and at the same time will lay a solid foundation for the company to enter the field of hydrogen energy, which will help the company to accelerate the layout of the complete industrial chain of hydrogen production, hydrogen storage, hydrogen transportation and hydrogen application. It will further improve the company's core competitiveness and provide a strong guarantee for the company's sustainable, rapid and stable development.
And this is not Hongda Xingye's first foray into the hydrogen energy industry. on December 18, 2018 the company announced that its wholly-owned subsidiary Wuhai Chemical Company, in order to improve the utilization efficiency of hydrogen produced by chlor-alkali plant, further improve the utilization rate of resources and energy, and improve the industrial structure, intends to invest in the construction of hydrogen refueling station project. On the evening of January 31 this year, the company announced that its wholly-owned subsidiary, Wuhai Chemical, received the project approval from the Development and Reform Commission of Wuhai City in the Inner Mongolia Autonomous Region, agreeing to its construction of 8 hydrogen refueling stations in the HaiBoWan District of Wuhai City, the Hainan District, and the Wuda District **** counting.
South Hui Tong (000920)
The company through the membrane business in recent years in the field of sustained strength, its wholly owned subsidiary Times Walton is the first domestic reverse osmosis membrane producers, but also the global scope of the few completely mastered the core technology of membrane manufacturing and the whole process of membrane module preparation process, and has a large-scale production capacity manufacturers. production capacity of the manufacturer. The information revealed in the company's 2018 half-year report shows that the company's battery diaphragm pilot production line is currently running well, realizing stable production, and is actively promoting market development.
Analysts believe that the battery membrane is expected to become a new profit point for the company in the future. Shenwan Hongyuan analyst Liu Xiaoning believes that the membrane technology is the main direction of water treatment, the current domestic nanofiltration membrane and plate ultrafiltration membrane is still mainly imported, the company is expected to enhance the share of the future cost advantage to increase sales.
In addition to deep plowing membrane in the environmental protection application market, the South Huitong also increase the energy membrane research and development. 2017 the company's independent research and development of the battery diaphragm began to enter the pilot stage; in 2018, the battery diaphragm pilot production line is running well, to achieve stable production. Southern Huitong said that the company does not rule out the possibility of further extending the technical route and broadening the product structure. Guotai Junan analyst Xu Qiang said that the independent development and production capacity of high-performance separation membrane is still the main line of growth of the company, and the battery diaphragm is expected to become the company's new profit point in the future.
It is noteworthy that the development of hydrogen fuel cell vehicles is of great significance to the battery diaphragm. It is understood that, compared with lithium batteries, hydrogen fuel cells can better solve the range anxiety and rapid replenishment of energy, but hydrogen fuel cells are also difficult to overcome because of the key technologies facing heavy obstacles, and the world is currently able to commercially supply the hydrogen fuel cell proton exchange membrane materials only the United States DuPont. However, the South Hui Tong mastered the reverse osmosis membrane cutting-edge technology, so that the company in the fuel cell market this trillion dollar new blue ocean among the forefront.
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(Source: Investment Express)
The fuel cell industry has been in the midst of the global financial crisis.