Cnooc Hydrogen Power (09663.HK) has issued a profit warning, expecting a loss of between 0.203 billion and 0.216 billion yuan (the same below) in the six months ending in June, compared to a recorded profit of 0.124 billion yuan in the same period last year. This is mainly due to the new generation product entering the production introduction stage during the period, but the product is still in small-scale production, resulting in temporarily lower gross profit; research and development expenses have increased; and the increase of credit impairment provision due to the extension of accounts receivable aging.