Recently, the First Hainan Free Trade Port Hydrogen Energy Vehicle Industry Development Seminar was held in Haikou City, Hainan Province. Shanghai Shunhua New Energy System Co., Ltd. (hereinafter referred to as "Shunhua New Energy") signed a strategic cooperation agreement with Hainan Haima Automobile Co., Ltd. and Sinopec (Hainan) Branch to jointly establish Hainan Free Trade Port's first zero-carbon emission automotive ecosystem covering the "production-storage-refueling-utilization" entire industry chain. This marks a substantive step forward in the industrialisation of hydrogen energy vehicles in Hainan, providing crucial support for achieving the industrialisation goal of hydrogen energy vehicles in Hainan by 2030. Hainan's Dual Advantages Propel Hydrogen Energy Industry onto Fast Track of Development Leveraging its policy advantages and geographical location, Hainan Free Trade Port is accelerating the layout of the hydrogen energy industry. According to the Medium and Long-Term Plan for the Development of Hainan's Hydrogen Energy Industry (2023-2035), Hainan will promote the commercial replacement of hydrogen fuel cell vehicles in stages in fields such as cold chain logistics vehicles, short-haul heavy-duty trucks, and tourist buses, gradually expanding into the passenger vehicle market. Huang Wencong, Deputy Director-General of the Hainan Provincial Department of Industry and Information Technology, pointed out that Hainan's unique geographical closed-loop characteristics and differentiated application scenarios provide a favorable market environment for hydrogen fuel cell vehicles. Meanwhile, relying on the "early and pilot implementation" policy advantages of the Free Trade Port, Hainan provides a testing ground for formulating standards for the hydrogen energy industry. Lu Guogang, Vice Chairman of Haima Automobile and General Manager of Hainan Haima, analyzed that with breakthroughs in core localisation technologies, when the annual production of hydrogen energy vehicles exceeds the 10,000-unit threshold, the material cost of complete vehicles is expected to be on par with or even lower than that of pure electric vehicles of the same class. It is projected that by 2030, the usage cost of hydrogen energy vehicles in Hainan will drop to 0.25 yuan per kilometer, comparable to that of pure electric vehicles. By then, the province's hydrogen vehicle ownership may exceed 10,000 units, with 66 supporting hydrogen refueling stations." To address the dual bottlenecks of scarce hydrogen energy resources and high hydrogen prices hindering the current development of the hydrogen energy industry, Zhang Yu, founder of the Hydrogen Energy Branch of the China Industrial Development Promotion Association, suggested that Hainan could rely on abandoned power resources from renewable energy sources such as PV and wind power to deploy local hydrogen production projects, thereby solving the problem of high hydrogen supply costs. To provide a technological pathway for resolving the contradiction between "hydrogen shortage" and "high hydrogen prices," Shunhua New Energy will deploy multiple hydrogen refueling stations around regional hydrogen production centers, constructing a "parent station + several child stations" asteroid-shaped hydrogen refueling network. Shunhua New Energy's Innovative Projects Accelerate the Commercialization Process of Hydrogen Energy As a leading domestic supplier of overall solutions for hydrogen energy systems, Shunhua New Energy plans to commence the construction of an asteroid-shaped hydrogen refueling station infrastructure network by the end of 2025, with priority given to promotion in Haikou and Sanya. "The "Asteroid Plan" is an implementation plan for the phased and rapid large-scale promotion of fuel cell vehicles (FCVs), with passenger cars as the most-traded contract car models. It also involves the construction of a hydrogen refueling network, primarily consisting of small 70MPa hydrogen refueling stations (in a combined oil-hydrogen refueling mode), supplemented by medium-sized 35MPa/70MPa hydrogen refueling stations (in a pure hydrogen mode). Additionally, it includes the construction of hydrogen source infrastructure for hydrogen production from renewable energy sources (supplemented by industrial by-product hydrogen) and nuclear power-based hydrogen production. Sunrise New Energy will leverage its extensive experience in hydrogen storage and transportation equipment, as well as hydrogen refueling equipment solutions, to assist Hainan in creating a replicable hydrogen energy commercialization template. This will achieve the dual objectives of optimizing construction costs and improving operational efficiency, providing infrastructure support for the large-scale development of the industry. As of now, the Haima 7X-H hydrogen fuel cell vehicle demonstration operation project has accumulated over 2 million kilometers of safe driving, serving the Boao Forum for Asia, the China International Consumer Products Expo, and the World New Energy Vehicle Congress, achieving a "zero-fault" operation record for 2 million kilometers. These vehicles are equipped with Sunrise New Energy's 70MPa on-board hydrogen supply system, allowing for a single hydrogen refueling time of just 3-5 minutes and a driving range exceeding 600 kilometers. Their technical indicators have reached internationally leading levels, validating the technical feasibility and economic efficiency of the "Hainan Model." Deepening Strategic Synergy: Building a Benchmark for Full-Chain Synergy in the Hainan Model With the in-depth implementation of the "Overall Plan for the Construction of the Hainan Free Trade Port," the hydrogen energy industry is becoming a key pillar for Hainan to build a clean energy island. Sunrise New Energy will take this strategic cooperation as an opportunity to work together with industry chain partners to advance the construction of vehicle operation platforms and hydrogen refueling stations, promoting the market-oriented development of China's hydrogen energy industry.

Recently, Zhejiang Hydrogen Power, Henan Hydrogen Power, and Shandong Hydrogen Power, subsidiaries of Hydrogen Power Technology, have successfully established the Shandong-Henan Hydrogen Energy Express Inter-provincial Logistics Route, covering the middle and lower reaches of the Yellow River, the lower reaches of the Yangtze River, and the area around Hangzhou Bay, injecting strong momentum into green logistics. Zhejiang Hydrogen Power, in collaboration with its sister companies Henan Hydrogen Power and Shandong Hydrogen Power, has successfully launched the Shandong-Henan Hydrogen Energy Express Intercity Logistics Route, which runs from Qingdao, Shandong, via Weifang, Zibo, Jinan, Liaocheng, and Puyang, to Zhengzhou. This route connects key hydrogen energy industry hubs and consumer markets in the middle and lower reaches of the Yellow River, building an efficient and low-carbon logistics bridge for the coordinated development of regional hydrogen energy. The two provinces of Shandong and Henan along this route have implemented a policy of full exemption from highway tolls for hydrogen-powered vehicles. For a single 4.5 mt cold-chain truck traveling 60,000 kilometers annually on highways, this results in annual savings of 20,000-24,000 yuan in toll fees, effectively alleviating the current bottleneck of high operational costs for hydrogen vehicles in the market. The deep collaboration between Shandong and Henan represents a comprehensive strategic synergy under the unified guidance of Hydrogen Power Technology. It fully leverages the operational advantages of nearly a thousand hydrogen vehicles operated by the company in Zhejiang, Henan, Shandong, Beijing, and Guangdong, precisely targeting hydrogen energy cold-chain users and advantageous routes with free highway access, low hydrogen prices, and convenient hydrogen refueling. Together, they are overcoming the application challenges of hydrogen vehicles in complex scenarios such as long-distance transportation and cold-chain preservation. This cross-regional and cross-industry cooperation model, like a key, has opened a new door for the commercial operation of hydrogen energy logistics, providing a valuable and replicable model for the development of the entire industry. As the project enters regular operation, a series of golden hydrogen energy transportation routes, encompassing the entire industry chain of hydrogen production, storage, transportation, and application, will continue to emerge. These routes will lay a solid foundation for the sustainable development of the regional hydrogen energy economy and make significant contributions to China's achievement of the "dual carbon" goals.

[SMM Cobalt Lithium Morning Meeting Summary: This week, the price of lithium hydroxide has decreased. Recently, the transaction volume of lithium hydroxide market is relatively low. As some downstream cell manufacturers have gradually entered the destocking rhythm, the destocking of the cathode part has gradually spread to the upstream. Some cathode manufacturers have signed long-term agreements, with basically sufficient raw material supply and a downward trend in carbon and hydrogen prices...

LiCarbonate Daily Analysis: March 12th