$DONGYUE GROUP (00189.HK)$It rose more than 5% in intraday trading. As of press time, it rose 5.21% to HK $9.08, with a turnover of HK $121 million.

CICC said China is expected to become the largest provider of capacity for water electrolysis equipment in Saudi Arabia. On December 8, during their visit to Saudi Arabia, Chinese and Saudi companies signed green hydrogen and photovoltaic investment agreements. In the future, the Middle East is expected to become one of the largest suppliers of green hydrogen in Europe, and relevant enterprises will benefit from China as the largest capacity provider of water electrolysis equipment.

The bank said that proton exchange membrane as an important electrolysis water parts material, electrolytic water path diameter load adjustment range is large, can achieve fluctuating power peak regulation operation, high technical barriers, technical breakthrough is difficult. It is optimistic that its long-term market share will increase, its development prospect is good, and Dongyue Group is optimistic.