On November 15th, according to the Science and Technology Innovation Board Daily (by reporter Chen Mei), Guofuhydrogen Energy (02582.HK) officially debuted on the Hong Kong Stock Exchange. On the market, Guofuhydrogen Energy opened at 82.3 Hong Kong dollars per share, up 26.6% from the issue price of 65 Hong Kong dollars per share. By the close of trading, it was reported at 78.25 Hong Kong dollars per share, with a market cap reaching 8.178 billion Hong Kong dollars.

With the listing of Guofuhydrogen Energy, not only did its location in Suzhou obtain an IPO, but the investment by the "Yongjin Series" in Guofuhydrogen Energy in the early years also surfaced. This investment led to a 20-fold increase in floating profit.

The investment by the "Yongjin Series" resulted in over 20 times floating profit.

The "Yongjin Series" investment in Guofuhydrogen Energy yielded over 20 times floating profit in 7 years.

The prospectus shows that before the IPO, Guofuhydrogen Energy had completed multiple rounds of financing. The earliest was in 2017 when they introduced the fund Yongyuanhua Energy under the "Yongjin Series." According to the disclosure, Yongyuanhua Energy invested 20 million yuan, obtaining 20% of the company's shares at a cost of 4 yuan, approximately 3.71 Hong Kong dollars.

Calculated at Guofuhydrogen Energy's closing price today of 78.25 Hong Kong dollars per share, the "Yongjin Series" made over 20 times floating profit on this investment, becoming the biggest winner among external investors.

In recent years, the "Yongjin Series" has seen several IPOs. Apart from Guofuhydrogen Energy, Yongzhen Shares (603381) that got listed on the main board this year, as well as Xinhongye (301310), Leapmotor (HK.09863), Xiangteng New Material (001373) from last year, all have the "Yongjin Series" behind them as shareholders.

In addition to the Yongjin Group, other investors are also expected to achieve impressive returns. In April 2021, Jiangyong Investment in Suzhou became a shareholder, and in September of the same year, market-oriented institutions such as Tianying Investment followed suit. Subsequently, Zhangjiagang Juyang Hydrogen Energy Entrepreneurship Investment Partnership Enterprise (limited partnership) injected capital in February 2024, raising the cost of investment by Guofu Hydrogen Energy to 38.87 yuan, with a valuation increasing to 3.846 billion yuan (approximately 4.175 billion Hong Kong dollars).

At the time of listing, the reporter from the Star Market Daily noticed that Xiangang Carbon Zhonghe, Yuechuang Energy, and Zhixin Hydrogen Equipment were three cornerstone investors, with a total subscription of 4.8429 million shares, approximately 0.3182 billion Hong Kong dollars. Roughly calculated, the entry cost of cornerstone investors is about 65.65 Hong Kong dollars per share.

As a result, based on the closing price on the first day of trading for Guofu Hydrogen Energy, all primary market investors have realized capital gains.

Guofu Hydrogen Energy's IPO brought a successful listing in Suzhou.

Following the IPO of Guofu Hydrogen Energy, Suzhou once again achieved a 'hydrogen' IPO.

According to the ChuangTou Research Platform of CaiLian News, Guofu Hydrogen Energy is a manufacturer of hydrogen energy storage and transportation equipment, developing and manufacturing core hydrogen energy equipment for the entire industry chain in the 'production, storage, transportation, filling, and usage' aspects of hydrogen energy. The company is located in Zhangjiagang City, Suzhou, and is a key enterprise in the local new energy cluster's hydrogen energy industry chain.

Reporters from the STAR Market Daily learned that Suzhou is one of the cities in China that has been early in developing the hydrogen energy industry, and in recent years has implemented multiple policies to support the development of the hydrogen energy industry. Currently, Suzhou has over a hundred hydrogen energy industry chain enterprises, including nearly 30 large-scale industrial enterprises, covering various aspects of the hydrogen energy industry chain such as hydrogen production, storage and transportation, refueling, fuel cell research, production, and complete vehicles.

An investor told the reporter of the Star Market Daily that Suzhou has formed two major hydrogen energy industrial clusters, one being the Zhangjiagang Hydrogen Energy Industrial Demonstration Zone, and the other being the Changshu Hydrogen Fuel Cell Automotive Industry Park. In addition, Suzhou's Xiangcheng District is planning to build a hydrogen energy equipment industrial park to develop the intelligent manufacturing industry for hydrogen energy equipment.

In the hydrogen industry chain, the above-mentioned investors stated that Zhangjiagang City in Suzhou has a relatively rich source of hydrogen production, especially Jiangsu Huachang Chemical, Oriental Energy, and 5 other hydrogen production companies, with the largest external hydrogen supply reaching 0.2 million tons per year.

In the middle stream segment where Guofu Hydrogen Energy operates, it and CIMC Enric are leading players, with the latter being a liquid hydrogen transport tank truck manufacturer. In the hydrogen fuel cell segment, companies such as Huachang Energy Technology, Jiangsu Qingneng, Jiangsu Jichong, etc., have driven the aggregation and development of the hydrogen energy industry.

According to the official website of Zhangjiagang People's Government, in 2022, the output value of the hydrogen energy industry in Zhangjiagang City was 12.6 billion yuan, and by 2025, the city aims to achieve a hydrogen energy industry output value of 50 billion yuan.

Senior researcher Li Guanghui from Shanghai Zhongchuang Industrial Research Institute, in an interview with the Star Daily, expressed that to develop hydrogen energy, there must first be abundant sources of hydrogen. In this regard, Zhangjiagang is located in a port area with relatively rich by-product hydrogen sources that are easy to transport, enhancing the economic benefits of hydrogen energy supply.

Thirdly, Li Guanghui believes that hydrogen fuel cells are suitable for long-distance, heavy-duty logistics vehicles. "Due to the large volume of cargo throughput at the port, converting diesel heavy trucks to hydrogen heavy trucks can significantly reduce pollutant emissions."

After years of development, Zhangjiagang has established a relatively complete hydrogen energy industry chain, such as hydrogen storage and transportation equipment companies and hydrogen fuel cell companies with strong innovation capabilities, all of which will drive the development of hydrogen energy.