The commercialization of hydrogen fuel cells continues to accelerate, maintaining the target price of 27.30 yuan and maintaining the “increase in holdings” rating. As a clean and environmentally friendly energy source, hydrogen energy has received national attention and support in recent years. The company is actively deploying hydrogen energy, and the first-mover advantage is obvious. Accelerating the industrialization of hydrogen energy will push the company's development to a new level. Maintaining profit forecasts, revenue for 2019-2021 was $3392, 3881, and $4.433 billion, respectively, and net profit of $1.48, 2004, and $257 million, corresponding to EPS of $0.42, 0.58, and 0.73 billion. Maintain the target price of 27.30 yuan and maintain the “increase in holdings” rating.
Strategic cooperation was carried out with the National Power Investment Corporation, and the commercialization process was once again accelerated. The company recently signed a strategic cooperation framework agreement for hydrogen energy projects with the Hydrogen Energy Industry Promotion Group of China Power Investment Group. It signed the Yixing Clean Energy (Hydrogen) Industrial Park project, with a total investment of 5 billion yuan, mainly including a 40MW decentralized wind power project, planning and construction of hydrogen fueling stations and bus and logistics transportation demonstration projects. The aim is to promote the industrialization of hydrogen energy and fuel cells in China and build an integrated hydrogen energy industry chain for hydrogen production - hydrogen storage - hydrogen transportation - hydrogen use to maximize economic and social benefits.
Hydrogen energy has arrived, and the company is facing major industrial opportunities. Hydrogen energy has arrived. The company has invested in Wuhan Xiongtao Hydrogen Engine. Currently, the workshop has the conditions for mass production, with a production capacity of 10,000 sets/year. In the future, Xiongtao Sheng Xiong will expand the scale of its geographical layout, challenge the development of higher power engine systems and partner OEMs to develop more diverse fuel cell models, and explore the application of fuel cells in other fields to promote the popularization and promotion of fuel cells. In 2019, the Ministry of Industry and Information Technology announced the 324th batch of “Road Motor Vehicle Manufacturers and Product Announcements” for the 324th batch of new products. Among the 20 fuel cell products that participated in the application, Xiongtao's supporting 3 models were on the list, and the company had a clear first-mover advantage.
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