Zhitong Financial APP learned that Xiexin New Energy (00451) rose nearly 7% in early trading and rose 6.76% to HK $0.395 as of press time, with a turnover of HK $37.0275 million.

On the news, Xiexin New Energy recently announced the establishment of the hydrogen Energy Division to actively study and develop hydrogen energy and related industries. The company signed a memorandum of understanding with the affiliated company Poly Xiexin Natural Gas to use the latter's overseas natural gas resources to be shipped back to China for hydrogen production. Xiexin New Energy has also entered into a strategic cooperation agreement with China Construction Capital Management to set up a 10 billion yuan hydrogen industry investment fund to invest in the former's hydrogen energy business. The company has also signed a strategic cooperation memorandum with CCB International Asset Management to establish a new energy industry investment fund of no more than 800 million US dollars.