Risk warning

(1) Policy risk: downstream application expansion progress falls short of expectations due to fluctuations in hydrogen energy industry support policies; (2) technical risk: localization of materials, material cost reduction is lower than expected, and efficiency improvement progress is lower than expected; (3) Market risk: overinvestment, overcapacity, leading to a deterioration in the pattern, making it difficult for new products to obtain excess profits (4) Operating risk: related enterprises have lower than expected shipments due to R&D and personnel experience.