Sinolink's research reports suggest that the hydrogen industry in Europe is supported by hydrogen energy policies, and the commercialization of green hydrogen is accelerating. The EU carbon market is continuously improving, and carbon taxes are accelerating the parity of green hydrogen. Compared with the hydrogen energy policies and developments of China and Europe, the European Union provides subsidies to leading companies in the industry, and the application of PEM and alkaline electrolysis tanks in Europe runs parallel. China's policy is mainly to encourage central and state-owned enterprises to take the lead, with an alkaline electrolysis tank technology path as the main focus. This team believes that domestically, the focus is on the landing of midstream and upstream projects, with parallel development of hydrogen production and fuel cell technologies. The key lies in economic promotion and policy progress. In the second half of the year, attention will be focused on the drive of sustainable policies and the closed loop of new business models.