On August 4, SMM’s Copper Division visited Ningbo Jinlong Copper Co., Ltd. in Ningbo for an on-site survey. They were warmly received by Chairman Liu, Sales Director Jin, and the core management team. During the discussion, the two sides had in-depth exchanges on the company’s current operational and development status, and conducted pragmatic discussions on core topics such as the supply-demand pattern of the copper billet processing industry, corporate strategic development plans, platform empowerment, and business collaboration. This visit further consolidated the long-term and stable cooperative partnership between the two sides, laying a solid foundation for deeper and broader collaboration in the future. Founded in 1989, Ningbo Jinlong Copper Co., Ltd. is located in the Zhenhai District of Ningbo. Specializing in the production of lead brass billets, copper wire, and profiles, it is a top-10 enterprise in the district that integrates manufacturing and trading. The company currently employs over 500 staff, including more than 40 senior and intermediate-level professionals, with total assets of 2 billion yuan. In 2017, it relocated to a new, well-equipped factory site with upgraded facilities at the intersection of Zhenhai Avenue and Jiulong Avenue. The company boasts excellent production equipment and strong technical capabilities, featuring advanced continuous casting and extrusion processing technologies for lead brass. It professionally produces round, square, hexagonal, and special-shaped brass billets, copper wires, and profiles according to European, American, and Japanese standards, such as 58-3A, HPb59-1, and Cw617n, with over 2,000 specifications. It also produces cast lead brass ingots, with an is expected to annual capacity is 80,000 mt. Its products are widely used in over 40 industries, including hardware, sanitary ware, plumbing, automotive parts, machinery, and electrical appliances, supplying high-quality raw materials to industrial enterprises. With the development of its foreign trade business, the company has established long-term, stable cooperative relationships with suppliers in multiple countries, fully ensuring the quality and quantity of raw materials. Technology drives progress, and innovation creates the future. To meet the demands of market competition, the company continuously optimizes its industrial layout and product mix, innovates its business models, and introduces new machinery and equipment, moving towards a direction of specialization, technology orientation, and brand building. Since its establishment, the company has adhered to the business philosophy of "people-oriented, integrity, and rigor." It focuses on technology, character, and product excellence, with customer satisfaction always remaining our ultimate goal. Contact Information Contact: Fan Hongxia 13506848669 Email: 8657@nbjinlongcopper.com Company Address: No. 388, Zhenhai Avenue (West Section), Luotuo Subdistrict, Zhenhai District, Ningbo City WeChat QR Code SMM Contact: Cai Enze 18550876001

Indonesian stainless slab moving through a trade-measure gap, not summer shutdowns, explains why European stainless scrap weakened while Asian stainless scrap rose between the mid-July low and 3rd August.

With the booming development of the new energy vehicle industry, China's first wave of power batteries has entered a large-scale retirement phase. Recently, lithium battery recycling projects have been intensively launched across multiple regions nationwide, covering every link of the industrial chain — from dismantling and crushing to hydrometallurgy, from cascade utilization to material regeneration.

Recently, the company and the management committee of Huanggang High-tech Industrial Development Zone, Hubei, held a signing ceremony for the LFP battery circular base project. According to public information, the project adopts the combined "physical dismantling + hydrometallurgy" recycling process. Production lines cover waste LIB dismantling, reduction roasting furnace, carbonization, leaching and purification, extraction, and evaporative crystallization equipment. Final products include battery-grade lithium carbonate, battery-grade nickel sulfate, battery-grade cobalt sulfate, and battery-grade manganese sulfate, achieving closed-loop recycling from waste batteries to high-end battery materials.

Capacity side, according to incomplete statistics, China's alkaline electrolyzer market remained at 43.77 GW, and the PEM electrolyzer market at 2.7 GW. This week, there were no offline public delivery updates. Project-related updates: Inner Mongolia Source Code Environmental Protection Technology Co., Ltd. : The integrated project for coal chemical carbon dioxide capture, conversion to green methanol and reuse of Inner Mongolia Source Code Environmental Protection Technology Co., Ltd. received filing. The project is located opposite the Xin'ao coal chemical enterprise park in Dalad Banner, Ordos City, with a total investment of 3.78 billion yuan, including self-owned funds of 3.213 billion yuan and bank loans of 567 million yuan. The construction period is from March 2027 to March 2030. The project plans to capture and purify 1.5 million mt of industrial flue gas CO₂ annually, combined with green hydrogen catalytic synthesis to produce green methanol. Upon completion, it will produce 1 million mt of green methanol per year. Supporting facilities for CO₂ capture, water electrolysis for hydrogen production, methanol synthesis, distillation units, storage and transportation, and environmental protection will also be constructed. Sinopec Star (Inner Mongolia) West Hydrogen East Transmission New Energy Co., Ltd. : The path planning and demonstration, land pre-examination, and planning site selection project (Tianjin section) for the Inner Mongolia Ulanqab to Beijing-Tianjin-Hebei region hydrogen transmission pipeline demonstration project, Section 1, has issued a tender announcement. This pipeline passes through Tianjin's Jinghai District, Binhai New Area, Xiqing District, and Jinnan District, with a total length of approximately 99 km, and plans to construct 1 station and 5 valve chambers. The tendering work includes path demonstration, preparation of a planning site selection report, and compilation and submission for land pre-examination, with the ultimate goal of obtaining the land pre-examination and site selection opinion letter. The estimated contract value for the section is 3.72 million yuan (tax inclusive), and consortium bids are not accepted for this tender. Guizhou Energy Shuicheng Coal-Electricity-Chemical Integration Co., Ltd. : The 300,000 mt/year methanol technological transformation and production resumption comprehensive utilization project at Guizhou Energy Shuicheng Xinsheng Coal Chemical has entered the environmental assessment stage. The project is invested and constructed by Guizhou Energy Shuicheng Coal-Electricity-Chemical Integration Co., Ltd., located in Shihe Community, Laoyingshan Subdistrict, Shuicheng District, Liupanshui City, covering an area of 125.2 mu. The total investment is 674.894 million yuan, with environmental protection investment of 57.25 million yuan, accounting for 8.48% of the total investment. The project will build a new 300,000 mt/year methanol plant, using coke oven gas and calcium carbide furnace gas as raw materials, with supporting utilities including conversion, synthesis, distillation, air separation, a methanol tank farm, and a flare. Raw material gas demand is 58,775.8 Nm³/h of coke oven gas and 11,202.8 Nm³/h of calcium carbide furnace gas. CGN New Energy Holdings Co., Ltd.: The tender for the feasibility study report preparation service for the CGN New Energy Yunnan Chuxiong Wind and Solar Integrated Green Ammonia Synthesis Project has announced the winning bidder. A consortium composed of China Energy Engineering Group Yunnan Electric Power Design Institute Co., Ltd. and China Huanqiu Contracting & Engineering Co., Ltd. won the bid. This project is included in the 2026 Yunnan Province Green Electricity Hydrogen Production Integration Demonstration Project List and is Yunnan's first wind and solar integrated green ammonia project. The project is sited in the chemical industry area of Chuxiong Yundian Industrial Park, leveraging 143.75 MW of wind and solar clean energy resources around the park, using a water electrolysis process to prepare green hydrogen, and then combining it with nitrogen from air separation to synthesize green ammonia, achieving green and low-carbon production throughout the entire process. The project occupies approximately 140 mu, with a hydrogen production scale of 9,000 Nm³/h. After completion, it is expected to produce 4,300 mt of green hydrogen annually, with a supporting facility to produce 35,000 mt/year of green ammonia. Sinopec Qingdao Refining & Chemical Co., Ltd. : The new energy team from Sinopec Qingdao Refining & Chemical conducted a field survey at Lankun Hydrogen Energy. The two parties plan to jointly build an innovative demonstration project for seawater floating PV off-grid hydrogen production, pioneering a new path for the industrialisation of marine green hydrogen. The project adopts an isolated grid operation mode, where power generated by the floating PV is supplied directly to Lankun's atmospheric pressure hydrogen production system without needing to be connected to the public power grid, creating a closed-loop model of "seawater floating PV directly connected to atmospheric pressure hydrogen production." This solution can avoid pain points such as grid connection approvals, grid consumption, and large-scale energy storage support, producing green hydrogen to replace traditional grey hydrogen and promoting the enterprise's green and low-carbon transformation. Hunan Guoye New Energy Co., Ltd. : The Miluo Municipal National Development and Reform Commission (NDRC) issued the record-filing certificate for the Tianjingshan 48 MW vertical-axis wind farm supporting PEM hydrogen production project, marking the official completion of project filing. This project is invested and constructed by Hunan Guoye New Energy Co., Ltd., located at Tianjing Village, Tianjingshan, Luojiang Town, Miluo City. Relying on green electricity from a 48 MW vertical-axis wind farm, it will use PEM water electrolysis technology to produce green hydrogen. The project is designed for a hydrogen production scale of 13,350 Nm³/h, with an annual green hydrogen output of 3,000 mt, and will be constructed in two phases with a total investment of 240 million yuan. Phase one will produce 1,080 mt/year of green hydrogen with an investment of 90 million yuan; phase two will produce 1,920 mt/year with an investment of 150 million yuan. The project will construct PEM electrolysers, purification units, hydrogen storage facilities, and related supporting works. CGN New Energy (Lufeng) Co., Ltd.​​​​​​​ : The Shanwei Municipal Bureau of Ecology and Environment issued a pre-approval public notice for the "Environmental Impact Report for the Integrated Energy Island Onshore Test Base Project (Phase II)." The project is invested and constructed by CGN New Energy (Lufeng) Co., Ltd., sited in the Dishui Village area of Jieshi Town, Lufeng, Shanwei. The project will deploy 500 Nm³/h ALK and 200 Nm³/h PEM electrolysers for hydrogen production testing, with an annual hydrogen production of 700,000 Nm³ and a total hydrogen storage scale of 1,050 kg. It will be equipped with hydrogen supply and utilisation devices such as fuel cells and hydrogen dispensers, as well as facilities including a marine climate simulation environmental chamber and a floating sway test platform, excluding tests related to green ammonia production, storage, and transportation. The total project investment is 42.44 million yuan, with environmental protection investment of 300,000 yuan. Zhongyuan Oilfield Branch Company​​​​​​​: Petroleum Engineering Machinery successfully won the bid for the electrolytic water hydrogen production unit Balance of Plant (BOP) project at Zhongyuan Oilfield. It will provide core supporting equipment for China's first domestically produced 1,000 Nm³/h-class PEM electrolytic water hydrogen production demonstration project, supporting Sinopec's large-scale deployment of green hydrogen. The BOP equipment won in this bid has a rated hydrogen production capacity of no less than 1,000 Nm³/h, with system operating flexibility covering 10%–125%, capable of matching fluctuating wind and solar green electricity conditions. The output hydrogen purity reaches 99.999%, meeting various high-purity hydrogen application requirements. Zhangye Dawei Energy Co., Ltd.​​​​​​​: The signing and groundbreaking meeting for the Zhangye Dawei Energy industrial tail gas resource utilisation coupled with renewable energy for green hydrogen and green methanol demonstration project was held at the headquarters of China Chengda Engineering Co., Ltd. The project will be located in the Circular Economy Demonstration Park of the Zhangye Economic and Technological Development Zone in Gansu, serving as a provincial-level key new energy demonstration project. The project will adopt Chengda's proprietary low-pressure methanol synthesis process, supported by a 10,000 m³-class water electrolysis hydrogen production unit. It will utilise local wind and solar power to produce green hydrogen, coupled with industrial tail gas to produce green methanol. Upon completion, it is expected to achieve an annual green methanol capacity of 500,000 mt. Huzhou Municipal Development and Reform Commission : Huzhou Renhuang Engineering Consulting Co., Ltd. issued a competitive consultation announcement for the Huzhou Hydrogen Energy Industry Development Research Project. The project budget and maximum price limit are both 180,000 yuan, and consortium bids are not accepted. Policy Review​ 1. The General Office of the National Energy Administration issued a notice to publicly solicit opinions on the 2026 energy sector industry standard development and revision plan and the foreign language translation plan. Among them, the 2026 energy sector industry standard development plan involves 43 hydrogen energy standard projects. Standard categories include safety, products, methods, engineering construction, and management. 2. The Bureau of Ecology and Environment of Dadukou District, Chongqing, issued a notice to publicly solicit opinions and suggestions on the "Dadukou District '15th Five-Year Plan' Beautiful Dadukou Construction Plan (Draft for Comments)." The document indicates accelerating low-carbon upgrades of transportation equipment. Following municipal requirements, it will accelerate the retirement of old operating ships, encourage enterprises to build new energy and clean energy ships, and promote the green transformation of waterway transportation. It will accelerate the elimination and renewal of old gas vehicles and promote the use of new energy for newly added and updated urban public service vehicles across the district, including buses, taxis, urban logistics, sanitation, and postal vehicles. Efforts to promote hydrogen fuel cell vehicles will be intensified to drive energy conservation and carbon reduction in the transportation sector. 3. The Energy Administration of Inner Mongolia Autonomous Region issued a notice to publicly solicit opinions and suggestions on the "Inner Mongolia Autonomous Region Renewable Energy Hydrogen Production Industry Safety Management Measures (Draft for Comments)." The "Measures" state that the site selection and layout of green hydrogen construction projects should comply with territorial spatial planning and the "three zones and three lines" control requirements, and should fully consider cross-safety risks. The construction of green hydrogen projects and integrated hydrogen production and refuelling stations outside chemical industrial parks is permitted. Green hydrogen projects do not require a hazardous chemical production safety permit, etc. Enterprise Developments​​ Beijing Hypert Hydrogen Technology Co., Ltd.: ​​​​​​​ The production ceremony for the upgraded hydrogen fuel cell heavy-duty truck H49 production line was grandly held at the New Chufeng Manufacturing Base. This upgrade was comprehensively advanced in three directions: intelligence, automation, and quality. New cab sub-assembly lines, fuel cell sub-assembly lines, and power battery and chassis sub-assembly lines were added. Advanced equipment such as AGVs, glass gluing robots, and electric assembly tools were introduced. Production stations were optimised and restructured, with multiple new quality inspection checkpoints added, achieving dual improvements in production efficiency and manufacturing quality. Zhejiang Guwei Technology Co., Ltd.​​​​​​​ : It officially launched a strategic cooperation on hydrogen sensors with Seek Treasure Co., Ltd. The two parties will focus on joint R&D in core technology optimisation, product performance upgrades, and localised adaptation development for hydrogen sensors. Shenzhen Pengfei Green Energy Development Co., Ltd.​​​​​​​: It issued its 2026 H1 performance forecast. The forecast shows that Pengfei Green Energy expects a net loss attributable to the parent company's shareholders of 10.5 million yuan to 15 million yuan in H1 2026, compared to a loss of 10.0004 million yuan in the same period last year. Deducted non-recurring profit or loss is expected to be a loss of 14 million yuan to 20 million yuan, compared to a loss of 21.4119 million yuan in the same period last year. Basic earnings per share are expected to be -0.008 yuan/share to -0.0114 yuan/share. Shaanxi Hydrogen Energy Industry Development Co., Ltd.​​​​​​​​​​​​​​​​​​​​​: Shaanxi Hydrogen Energy held a discussion meeting with State Grid Yulin Power Supply Company, focusing on grid access, direct green electricity supply, optimisation of electricity purchasing and sales business, and efficient utilisation of new energy power. CIMC Enric Holdings Limited​​​​​​​​​​​​​​: An anhydrous ammonia transport vehicle escorted the world's largest single shipment of green ammonia for export, with 3,750 mt of green ammonia produced in Da'an, Jilin, shipped from Lianyungang, Jiangsu, bound for South Korea, setting a new global single-shipment export record for green ammonia. Qingyang Public Transportation Group Co., Ltd. ​​​​​​​: The Qingyang Public Trading Center issued a competitive negotiation announcement for Package 2 of the hydrogen fuel cell vehicle procurement project (third round) for Qingyang Public Transportation Group. The budget and maximum price limit for this section is 6.7568 million yuan, with plans to purchase 4 hydrogen fuel cell buses. The supply period is 45 calendar days after contract signing. The project implements post-qualification review, does not accept consortium bids, and is not a procurement project specifically targeted at small and medium-sized enterprises. Beiben Trucks Group Co., Ltd.​​​​​​​​​​​​​​: Beiben Trucks signed a strategic cooperation framework agreement with the Benxi Municipal People's Government, simultaneously advancing the Benxi Steel Union new energy heavy-duty truck project. At the event, Beiben Trucks and Benxi Steel Union signed a purchase order for 200 units of new energy heavy-duty trucks. Guangdong Yuntao Hydrogen Technology Co., Ltd.​​​​​​​​​​​​​​: The National Energy Administration announced the results of the renewal and expansion of the China-IRENA cooperation special working groups. Yuntao Hydrogen was successfully selected for both the Hydrogen Energy Working Group and the Energy Storage Working Group, becoming the only hydrogen energy enterprise to be shortlisted for two major working groups simultaneously. ​​Patent Applications​​ 1. Shanghai Institute of Ceramics, Chinese Academy of Sciences​​(China) published patent CN2025110028, developing a ceramic-based anion exchange membrane with a laboratory-tested lifespan of 80,000 hours. ​​2. Johnson Matthey​​(UK) filed patent WO2025109876, disclosing a ternary Fe-Ni-Mo non-precious metal catalyst formulation with activity approaching that of platinum-based materials. Technology Footprints/Technical Specifications​​ 1. The latest scientific research achievement by Professor Hu Wenbin's team from Tianjin University was published online in the prestigious international academic journal Science. This research overcame the key challenge of precisely preparing platinum group catalysts, pioneering a new technical pathway for atomic-level precise preparation of platinum group catalysts. 2. Tong Lei and Liang Haiwei from the University of Science and Technology of China, along with Zhang Liang from Tsinghua University, proposed a carbon mesoporous deep engineering (CMDE) strategy. Using hollow mesoporous carbon spheres to regulate ionomer penetration depth, they resolved the inherent contradiction between kinetic activity and oxygen mass transfer in low-platinum fuel cells. They developed a PtCo low-platinum catalyst that combines poisoning resistance, high mass transfer, and excellent durability, achieving the power, activity, and durability indicators specified by the US DOE at an ultra-low platinum loading of 0.1 mgPt cm⁻². 3. Professor Li Zhipeng's team from Northwestern Polytechnical University innovatively constructed a three-dimensional multi-physics coupled model for tubular solid oxide fuel cells, systematically revealing the quantitative influence of temperature, electrode thickness, porosity, and oxygen domain geometric parameters on cell output performance. 4. The National Hydrogen Power Quality Inspection and Testing Center of China Automotive Engineering Research Institute built a 0-400kW hydrogen-related, load-bearing three-comprehensive vibration testing platform and opened it for commercial use, filling a gap in China for high-power hydrogen-related multi-physics coupled testing. 5. The high specific power cathode closed air-cooled stack technology developed by the team of Academician Chen Zhongwei and Associate Researcher Zhang Meng at the National Key Laboratory of Energy Catalytic Conversion, Dalian Institute of Chemical Physics, passed the scientific and technological achievement appraisal by the China Petroleum and Chemical Industry Federation. This technology effectively solves the industry contradiction between water retention and oxygen mass transfer in air-cooled fuel cells, addressing technical challenges such as low-humidity performance degradation, carbon corrosion, dry membrane and flooding, and high-power thermal management.

[Plate/HRC] Today HRC and other flat-product export prices edged up USD 1/tonne day on day, with HRC transaction prices at 485-489 USD/tonne. Overseas Indonesian slab dipped to 465 USD/tonne today, while the domestic price still held at 470 USD/tonne; that level is understood to have essentially reached the domestic cost line, so further cuts by Chinese mills look unlikely. [Billet] Today export billet was offered at 451-455 USD/tonne FOB Jiangyin. Market feedback indicates that heavy domestic sales pressure has lifted mills' appetite for billet exports, with some recently lowering prices to move cargo to exporters, while overseas customers' inquiries were unremarkable. [Rebar] Today Tianjin rebar export prices were steady, with some mills quoting slightly lower and overall transaction prices at 478-483 USD/tonne. Some market participants reported discounted deals today, mostly in small lots, while order intake at the majority of mills that did not cut prices remained poor.

The Ha Tinh Provincial Economic Zone Management Board has approved the detailed 1/500-scale planning for VinMetal Ha Tinh Steel Factory, covering nearly 460 hectares in Vung Ang Economic Zone. Located within Vinhomes Vung Ang Industrial Park, the project will feature a modern steel production complex with subdivisions for raw materials, smelting, rolling, power generation, and waste treatment. The facility will allocate 57.26% of its land for industrial production and warehouses, 28.6% for green spaces, and the remainder for infrastructure, offices, and parking. The plan includes technical systems for water supply (17,550m³/day), circulating water (106,350m³/day), and wastewater treatment (8,300m³/day), with pre-treated effluents directed to the industrial park’s centralized system.

【25k-ton Waste LIB Comprehensive Utilization Project Launched in Leshan, Sichuan】 Recently, Leshan News Network released the first EIA announcement for the new energy waste LIB comprehensive utilization and dismantling project. The project is located in the High-tech Zone, Leshan, Sichuan. It consists of one LIB Pack cascade utilization production line and two LIB dismantling lines, with supporting warehouses and environmental facilities. Upon completion, it will achieve an annual comprehensive utilization and dismantling capacity of 25,000 tons of new energy LIBs, including 5,000 tons/year of cascade utilization and 20,000 tons/year of LIB dismantling.

Indonesia is predominantly a thermal-coal producer serving power generation and industrial boilers; metallurgical coal represents a comparatively small part of the country’s production and export mix. Indonesia entered 2026 with the coal market expecting a government-led correction after two years of exceptionally high output. Policymakers signalled tighter RKAB approvals to control oversupply, support prices, preserve reserves and prioritise domestic demand. The result was a sharp recovery in the country’s core low and medium-CV coal prices, even though mine production did not fall as quickly as sentiment initially implied. The full H1 picture is therefore more complex than a simple supply-cut story. Indonesia retained abundant mining capacity and large headline production, but policy uncertainty, domestic obligations, coal-quality mismatches and selective marketing reduced the amount of coal immediately available to export buyers. At the same time, LNG disruption in Q2 encouraged greater coal burn in Asia and gave the rally a real demand component. 1. Indonesia’s coal foundation: scale, cost and Asian proximity Indonesia’s competitive advantage is not simply the size of its coal reserves. It is the combination of large-scale and relatively low-cost mining, short shipping distances to major Asian buyers and the ability to supply a wide range of thermal-coal qualities. This makes Indonesia the dominant volume supplier in seaborne low- and medium-CV coal, particularly to China, India, the Philippines, Malaysia and South Korea. Indonesia had approximately 97.96 billion tonnes of coal resources at end-2024. The supplied 2025 reserve chart reports 33.25 billion tonnes (33,250 Mt) of proved-plus-probable coal reserves. Kalimantan holds 69.3% and Sumatra 30.7%, with East Kalimantan and South Sumatra the two largest reserve regions. Around 69% of identified resources were low-calorific coal of 4,200 kcal/kg GAR or below. Indonesia approximately reports national coal reserves at 33.25 billion tonnes. East Kalimantan alone accounts for 47.2%, followed by South Sumatra at 23.5%; other islands collectively contribute only about 0.05%. This structure is visible from Indonesia’s mining-permit distribution. Kalimantan is the core export base, supported by established river, barging and seaborne logistics. Sumatra has greater domestic relevance through PLN supply, mine-mouth power plants and consumption of lower-CV coal. Higher-CV material exists, but it is not the dominant volume base of the Indonesian system. That quality profile creates both an advantage and a vulnerability. Low-CV coal is inexpensive on a per-tonne basis, but it is not always inexpensive after adjusting for energy content. Export competitiveness can therefore change quickly when freight rates rise or buyers switch toward more energy-dense coal from Australia, South Africa or other origins. 2. Coal-quality classification: where Indonesian supply sits Indonesian thermal coal is conventionally classified by calorific value on a gross-as-received basis. GAR reflects the energy value of coal including its as-received moisture and is closely linked to the typical moisture, ash, sulphur, combustion behaviour and end-use of each cargo. Indonesia’s commercial identity is concentrated in the low- and medium-CV portion of this spectrum, which are usually in the range of ICI 3 to ICI 5. The quality labels are broad commercial descriptors. Actual cargo value also depends on moisture, sulphur, ash, mine location and logistics. Both the ICI commercial assessment system and the HBA administrative system are structured around the qualities Indonesia actually mines and sells, although they use different reference specifications and serve different purposes. ICI has five grades; the current HBA framework has four. 3. Production expanded rapidly before the 2026 policy turn Indonesia’s coal production illustrates a decade of steady output growth interrupted by a first pullback in 2025. Production rose from 563.7 million tonnes in 2020 to a peak of 836 million tonnes in 2024, a compound annual growth rate of roughly 10.4%, a pace driven largely by expanding export demand from China and India alongside rising domestic industrial consumption. That growth reversed in 2025, with output easing to approximately 817 million tonnes, a decline of about 2.3% year-on-year, marking the first contraction in the series and an early signal of the tighter production discipline that would carry into the 2026 RKAB cycle. A notable feature of the underlying data is that Indonesia's Domestic Market Obligation has been met, and generally exceeded, in every year shown. Actual domestic allocation has consistently run in the range of roughly 25% to 30% of total production, comfortably above the regulatory minimum requirement, rather than sitting at the statutory floor. This suggests domestic supply commitments have not been a binding constraint on producers during this period; rather, the recent tightening in domestic allocation reflects deliberate policy intent to raise that share further, not a response to prior shortfalls. Exports have remained the larger channel throughout, but their share of total production has gradually narrowed as the domestic allocation has grown, consistent with the broader shift toward prioritising Indonesia's power and smelting demand. After this high-output period, the government initially sought a much sharper reduction for 2026, with an ambition to move production toward the 600 Mt range. Many companies reportedly received initial RKAB quotas 40–70% below their 2025 levels. The policy objectives were broader than price support: they included controlling oversupply, preserving reserves and ensuring that domestic power and strategic industries received priority. 4. Why Indonesia runs two coal benchmarks 4.1 HBA: the government’s administrative reference Harga Batubara Acuan is set monthly by the Ministry of Energy and Mineral Resources. Its main role is administrative: HBA forms the basis for the Harga Patokan Batubara reference selling price, royalty and PNBP calculations, and DMO-price compliance. Cargo adjustments reflect actual calorific value, moisture, sulphur and ash against four reference specifications: HBA at 6,322 kcal/kg GAR, HBA-I at 5,300, HBA-II at 4,100 and HBA-III at 3,400. HBA History Timeline Before 2023, HBA used a weighted basket that included the Indonesian Coal Index, Newcastle Export Index, GlobalCoal Newcastle Index and Platts 5900 alongside Indonesian assessments. Because several components represented premium high-CV coal from outside Indonesia, HBA could detach sharply from the value realised by Indonesian sellers of low-CV cargoes. In October 2022, for example, HBA reached about $330/t while ICI 4, representative of a grade many Indonesian producers were actually shipping, was around $91–95/t. Producers argued that the gap overstated royalty obligations for companies not selling premium coal. Kepmen ESDM No. 41/2023 replaced the international-index basket with a formula based on actual realised FOB-vessel transaction prices reported through the e-PNBP Minerba system. The calculation assigns 70% weight to the prior month’s average sales price and 30% to the month before that. The supplied material identifies Kepmen ESDM No. 72/2025 as the current governing regulation and says it retains the transaction-based approach and four-tier structure. 4.2 ICI: the commercial market benchmark The Indonesian Coal Index is a weekly market-assessed price series jointly produced by Argus Media and PT Coalindo Energy. It covers five FOB grades, 6,500, 5,800, 5,000, 4,200 and 3,400 kcal/kg GAR, and draws on input from buyers, sellers and intermediaries active in the physical market. ICI is more commonly used in commercial negotiation because of its frequency, independence, granular mapping to actual cargo qualities and comparability with Newcastle and Richards Bay benchmarks. HBA remains indispensable, but for a narrower fiscal and administrative function. Since HBA is now derived from domestic transactions that themselves reflect market conditions, the two series move more closely than before 2023, although HBA still tends to lag. That breadth is a large part of why ICI functions as the leading price reference for Indonesian coal more broadly, used for both domestic and international contracts, royalty and tax calculations, corporate finance, and production planning, rather than a narrower, origin-specific price series. Its weekly cadence, relative to HBA's monthly and backward-looking construction, is the other key reason it remains the benchmark commercial parties actually negotiate against: it responds to current market conditions rather than lagging by up to two months, it is derived independently of government administration, and it is quoted alongside Newcastle and Richards Bay for cross-market comparison. HBA continues to serve a narrower but essential function, determining royalty obligations and DMO-price settlement rather than commercial transaction value. 5. Early-2026 production: policy tightened faster than mine output Indonesia’s coal production did not collapse in early 2026. The market became more constrained because production was increasingly shaped by RKAB policy rather than mining capability. Preliminary figures cited in the supplied analysis put January–May output at 302 Mt, only 6% lower year on year, while coal sales and marketing fell much more sharply to 257.27 Mt, down 17%. An indicative H1 estimate of about 362.4 Mt would already equal more than 60% of a 600 Mt annual target and imply an annualised pace above 700 Mt. This was the core contradiction of H1: supply policy was bullish for prices, but implementation remained incomplete. Miners were still producing at a relatively high rate while market absorption, exports and domestic allocations became more selective. 6. Exports, Asian demand and Indonesia’s global position In the 2025 customs mirror-data comparison, Indonesia remained the world’s largest coal exporter by volume at 531.15 Mt, equal to 41.9% of reported export-side declarations. Australia followed at 356.45 Mt. The United States, South Africa, Colombia, Russia and Canada were substantially smaller. Australia competes most directly in high-CV thermal and metallurgical coal; Indonesia leads total export volume through its large low- and medium-CV thermal-coal base. Top 20 coal-exporting countries in 2025 (million tonnes; customs mirror-data ranking). On the import side, China was the largest reported buyer in 2025 at 491.09 Mt, or 32.5% of import-side declarations, followed by India at 253.46 Mt, or 16.8%. Japan, South Korea, Vietnam and Taiwan formed the next group. Global seaborne coal demand is therefore heavily concentrated in Asia. For Indonesia, China and India remain the main external demand centres because of their scale and ability to consume Indonesian low- and medium-CV coal. Top 20 coal-importing countries in 2025 (million tonnes; customs mirror-data ranking). 6.1 H1 2026 reported shares and June destination mix According to SMM-processed data and available customs information, January-June 2026 export-side declarations totalled 469.32 Mt. Indonesia accounted for 195.58 Mt, or 41.7% of this reported origin-side total, followed by Australia at 29.8%, the United States at 8.1% and South Africa at 6.9%. On the importer side, combined January-June destination demand was led by China at 182.82 Mt, or 30.4% of the reported total, followed by India at 17.0%, Japan at 11.0% and South Korea at 9.5%. These proportions describe the January-June global origin structure and importer-side destination demand; they are not an Indonesia-to-China bilateral matrix. Because late-period customs reporting is incomplete, SMM treats them as provisional H1 proportions that may be revised after additional declarations. 7. DMO, "penugasan" and the difference between total and usable supply Indonesia’s Domestic Market Obligation is a domestic-priority rule. The general benchmark requires coal producers to allocate 25% of approved annual production to domestic users. Compliance is linked to RKAB approvals and annual domestic assignments, with reporting, quality and delivery obligations that protect PLN, coal-fired power plants and strategic industries. The 25% benchmark is therefore a minimum policy reference rather than a uniform realised ratio for every miner. Non-compliance may trigger compensation funds, fines or restrictions on overseas coal sales. "Penugasan" refers to the practical assignment of domestic supply, identifying which miner supplies which domestic buyer, usually PLN or another strategic user. DMO is the broad quota, while penugasan is the allocation mechanism. This makes the burden uneven: miners with large PLN or state-linked assignments can effectively supply more than the headline percentage. Indonesia’s domestic coal challenge is less about aggregate national availability than the allocation of suitable coal to specific users. DMO establishes producers’ broad domestic sales obligations, while the government may appoint particular producers or traders to address urgent supply shortages. However, the resulting burden cannot be inferred solely from the share of demand associated with state-linked users; company-level assignments and delivery data are needed to show which suppliers carry the largest obligation. PLN Group and independent power producers were estimated to require 152.51 Mt in 2026. The reported January–May shortfall of approximately 9.4 Mt comprised 5.67 Mt of medium-rank coal and 3.76 Mt of low-rank coal. However, the stated receipt average of 10.7 Mt per month does not fully reconcile with these figures and should be checked against PLN’s actual monthly delivery schedule. The shortage nevertheless illustrates that sufficient national production does not guarantee the availability of the correct coal grade, location and delivery timing for each power plant. Price-cap framework: Coal supplied for public electricity generation is capped at US$70/t FOB vessel at the 6,322 kcal/kg GAR reference specification under MEMR Decree 139.K/HK.02/MEM.B/2021. Coal supplied to domestic industrial users, including cement, is capped at US$90/t under Decree 58.K/HK.02/MEM.B/2022. Both marker prices are adjusted for actual calorific value, moisture, sulphur and ash. The US$90/t regime excludes metal-mineral processing and refining, so smelter coal should not automatically be treated as cement-price-capped. The commercial tension becomes material when export-equivalent netbacks exceed the domestic caps. Take example for the first May 2026 period, the official 6,322 GAR HBA was US$106.57/t, implying a headline benchmark gap of US$36.57/t versus the PLN cap and US$16.57/t versus the industrial cap before quality, freight, contract and royalty effects. A miner carrying a high DMO or penugasan share may therefore earn less revenue and margin than on an export sale of comparable coal, creating an incentive to limit domestic exposure to required or assigned volumes. This is a margin concern, not a legal option to avoid DMO: non-compliance can trigger fines, compensation payments and export restrictions. If export prices fall below the caps, or quality and logistics adjustments absorb the spread, the export premium can narrow or disappear. 8. H1 2026 price trend: policy-led Q1, demand-led Q2 For analysing 2026 prices, ICI 3, ICI 4 and ICI 5 provide the clearest view because they represent Indonesia’s physical medium- and low-CV market. HBA remains relevant for administrative and fiscal purposes, but its monthly look-back means it tends to follow the physical market with a delay. Q1: RKAB expectations, weather, and tighter spot supply Q1 was initially driven by expectations that Indonesia would reduce its 2026 coal production target from 790 million tonnes in 2025 to around 600 million tonnes. While company-level RKAB allocations were still being finalised, delayed approvals and uncertainty over individual quotas made some miners cautious about production planning and forward sales. This tightened immediately available spot cargoes, particularly from smaller and medium-sized producers. Seasonal rainfall reinforced the policy-driven supply concerns by disrupting open-pit mining, haul roads and barging operations in parts of Kalimantan and Sumatra. January exports fell to 39.56 million tonnes, down 22.7% month on month, while BPS subsequently confirmed that national coal production declined during Q1. However, the impact was uneven: some producers front-loaded output and DMO deliveries ahead of potential quota reductions, meaning the market faced constrained marginal supply rather than a uniform nationwide production cut. From January 2 to March 27, ICI 3 rose 23.0% from $60.91/t to $74.89/t, ICI 4 increased 32.7% from $45.46/t to $60.31/t, and ICI 5 gained 17.6% from $30.97/t to $36.41/t. ICI 4 recorded the strongest percentage increase, consistent with tighter availability and stronger competition for Indonesia’s core 4,200 kcal/kg GAR export grade. Nevertheless, part of its outperformance reflected its lower starting price, while the LNG disruption beginning in early March also contributed to the final stage of the Q1 increase. Q2: LNG disruption and gas-to-coal demand During Q2, market support shifted toward regional energy security. Disruption to oil and LNG flows through the Strait of Hormuz removed a substantial portion of global energy supply, sharply raising Asian gas and international oil prices. Higher LNG prices encouraged utilities with sufficient fuel flexibility and available coal-fired capacity to reduce spot-gas consumption and increase coal generation. The disruption also affected coal supply costs. Brent rose from around $71/bbl on February 27 to $104/bbl on March 9 and remained volatile during Q2, while diesel and other refined-product prices increased even more sharply. Because Indonesian open-pit coal production depends heavily on diesel-powered mining equipment, trucks, barges and support vessels, higher fuel prices raised production and logistics costs. The coal rally therefore reflected both stronger gas-to-coal switching demand and a higher cost base across the Indonesian supply chain. From March 27 to June 26, ICI 3 rose another 13.3% to $84.83/t, ICI 4 gained 9.3% to $65.92/t, and ICI 5 increased 14.1% to $41.54/t. Prices peaked around June 12 before easing modestly into month-end. Across H1, ICI 3 increased 39.3%, ICI 4 gained 45.0% and ICI 5 rose 34.1%. Overall, the rally reflected the combined effects of RKAB-related supply expectations, weather and operating constraints, LNG-driven fuel switching and higher oil-related production and transportation costs. 9. H2 2026 outlook: a pause before a possible Q4 recovery The H1 rally has stalled. Overseas buyers are pushing back on higher offers, and comfortable inventories have taken the urgency out of restocking. Absent a fresh catalyst, price action into H2 looks more like consolidation than a resumption of the uptrend. RKAB is the decisive H2 variable. Producers are seeking to maximise economically usable approvals, and SMM’s indicative scenario places total 2026 quota availability at around 730-750 Mt. This is an analytical scenario, not an announced official total, and it is conditional mainly on domestic coal requirements being met. DMO compliance, cargo quality and actual delivery capacity will determine how much approved volume can become exportable supply. Winter demand offers some support, but seasonality alone won't do much heavy lifting. A real rebound needs more than a calendar effect — tight RKAB discipline, a weather or logistics disruption, or restocking that outpaces the norm. If approvals land near the top of our range and get fully drawn down, the extra tonnage argues for a longer correction, not a shorter one. SMM believes that RKAB size is the swing factor for Q4 price direction The size of 2026 RKAB approvals is the single variable that decides which way H2 prices move. If approvals land large, quota issued near the top of the range and largely usable, it is expected the correction to continue. More approved tonnage means more coal eligible for export, and that supply overhang caps any price recovery through year-end. If approvals stay tight, and DMO enforcement holds firm, the exportable pool shrinks. Combine that with the seasonal demand pickup that typically accompanies Q4 rainy-season disruption to output and logistics, and the setup shifts toward a price recovery into year-end — tight supply meeting a seasonal demand bump, rather than seasonality doing the work on its own. In short: large RKAB → correction persists. Tight RKAB + strict DMO → year-end price recovery. The quota decision is the fork in the road; everything else (winter demand, rainy-season logistics) just determines how sharp the move is once that fork is decided.

Capacity side, according to incomplete statistics, China’s alkaline electrolyzer market remained at 43.77 GW, and the PEM electrolyzer market at 2.7 GW. This week, Qinghui Energy’s 15 MW PEM hydrogen production integrated system was officially shipped to a project in Romania, Europe, linking renewable energy electrolysis for hydrogen production; Wenshi Hydrogen’s three AEM hydrogen production units were shipped to the Netherlands, representing the first repeat order from a European client, with this equipment delivered to a local farm. Project-related updates: Henan Shunli Alcohol Hydrogen Energy Technology Co., Ltd. : Henan Shunli Alcohol Hydrogen Energy Technology Co., Ltd. released a public inquiry for the supervision services for an integrated power generation, biomass gasification and green methanol synthesis project. The project is located in the Coal Chemical Park, Tongye Town, Yindu District, Anyang City, with a total investment of about 1.6 billion yuan, and a supporting raw material pretreatment sub-project investment of about 120 million yuan. The tender scope covers full-cycle supervision services for the raw material pretreatment project, with the service period initially planned from early August 2026 to July 2027. The project uses agricultural and forestry waste as raw material, and plans to produce 70,000 mt/year of non-food biomass green ethanol and 244,000 mt/year of green methanol, with construction in phases. Junrui Green Hydrogen Energy (Chahar Right Rear Banner) Co., Ltd. : The 80,000 mt/year green ammonia production site project has been filed. The project is located in the New Materials Industrial Park, Chahar Right Rear Banner, Ulanqab City, Inner Mongolia, with a total investment of 905.6 million yuan. The project plans to build an 80,000 mt/year ammonia synthesis plant and supporting utilities and auxiliary facilities, relying on upstream wind and solar power green hydrogen production, with an air separation unit to supply nitrogen and ammonia synthesis process to produce green ammonia, and a turndown ratio of 30% to 110%. The project covers an area of 509 mu, with a total floor area of 99,188 m². Construction is planned to start in October 2026 and complete in December 2027. Huaneng Xi’an Thermal Power Research Institute : The scientific research project’s alkaline electrolysis hydrogen production equipment and instruments tender has announced the shortlisted candidates. The first candidate is Fuxin Zhongqing Innovation Technology Co., Ltd., with a bid price of 1.1992 million yuan; the second is Shenzhen Ruilin Technology Co., Ltd., at 1.5808 million yuan; the third is Beijing Leidong Zhichuang Technology Co., Ltd., at 1.6334 million yuan. The project is located at the Baotou Third Thermal Power Plant of North United Power in Baotou, Inner Mongolia, and involves the procurement of a complete alkaline electrolysis hydrogen production system and supporting instruments. The supplier shall provide on-site installation guidance and commissioning services to support the development of high-efficiency single-cycle super alkaline electrolysis hydrogen production equipment. The project does not accept consortium bids, and delivery is required within 70 days after contract signing. CSSC (Handan) Peric Hydrogen Energy Technology Co., Ltd. : secured two orders from an Ecuadorian partner, one for equipment renovation and the other for new equipment for production line expansion, extending their strategic cooperation of over 20 years. Reports indicate that the Ecuadorian partner enterprise introduced Peric hydrogen production equipment in 2004. The equipment has operated stably for 22 consecutive years under complex overseas working conditions with zero failures. Long-term field verification highlights the excellent stability, durability, and environmental adaptability of Peric's electrolytic hydrogen production equipment. Maoming City Public Transport Co., Ltd. The inauguration ceremony for Maoming's first hydrogen fuel cell buses was held at the Maoming Railway Station North Square bus terminal. The vehicles deployed are customized Chery Wanda models, suited for urban, urban-rural, and township passenger transport scenarios, and are equipped with the Tianneng Hydrogen Electric Chenxing-T80 fuel cell system. The buses require only 15 minutes for hydrogen refueling, significantly reducing energy replenishment time compared to pure electric buses, extending operating hours and improving vehicle turnover efficiency, supporting the development of green transport in western Guangdong. PowerChina Beijing Engineering Corporation Limited: The Jiuyuan District hydrogen production and storage integration demonstration project has been filed and will be located in the Jiuyuan Industrial Park, Baotou City. The project has a total investment of RMB 1.4695 billion and is planned to include an annual hydrogen production unit of 7,366 mt, a hydrogen storage facility of 168,900 standard cubic meters, along with supporting hydrogen production testing platforms, a hydrogen quality inspection center, a hydrogen R&D center, and a science popularization base. The project is scheduled to start construction in October 2026 and be completed and operational by December 2028. China Energy Engineering Group Bochuang Green Fuel (Shenyang) Co., Ltd. China Energy Engineering Group's East China Institute has secured the EPC contract for the first phase of the Shenyang wind-solar hydrogen production integrated with biomass green methanol oil demonstration project, involving 10kt of green methanol. The project is located in Kangping County, Shenyang, and is a benchmark project among the first domestic initiatives combining wind-solar electrolytic hydrogen production with biomass gasification to methanol. It leverages local wind power and straw resources to establish a complete 'green electricity-green hydrogen-green methanol' industry chain, producing 10kt of green methanol annually. The project can consume local wind power and agricultural/forestry waste, reducing full life-cycle carbon emissions by about 70% compared to traditional coal-to-methanol processes, with significant environmental and economic benefits. Envision Zero-Carbon Technology (Chifeng) Co., Ltd. The 12 electrolytic hydrogen production rectifier transformers independently developed by XD Electric for the Envision Energy Chifeng Zero-Carbon Hydrogen-Ammonia Phase I project have been fully energized. This project is the world's largest green hydrogen-ammonia project, with core equipment fully deployed. It is planned to produce 1.52 million mt of green ammonia annually, making it the world's first commercial green hydrogen-ammonia project. It builds an entire integrated industry chain of wind, solar, storage, hydrogen, ammonia, and methanol, relies on 100% green electricity to produce liquid ammonia, and holds the world's first renewable ammonia certification issued by Bureau Veritas, showcasing outstanding industry demonstration value. Inner Mongolia Energy Group: The winning candidates for the hydrogen production system equipment procurement of the Jinshan Power Plant 2×660MW coal-fired power expansion project have been announced. The tender covers complete hydrogen production equipment for two 660MW high-efficiency ultra-supercritical air-cooled coal-fired units, with an estimated contract value of RMB 5.5 million. The candidates and their quoted prices are as follows: First candidate Beijing Zhongdian Fengye, quoting RMB 2.46 million; Second candidate Shanghai Qingrui Technology, quoting RMB 2.0833 million; Third candidate Changzhou Xingran Technology, quoting RMB 2.1 million. The project is located in Dongtaosuhao Village, Huangheshao Town, Saihan District, Hohhot. Construction started in December 2024, with Unit #1 planned to be commissioned in June 2027 and Unit #2 in October 2027. Zhuzhou CRRC Times Electric Co., Ltd.: has announced a direct procurement notice for the hydrogen power supply container assembly. The procuring entity is the Green Energy Branch of Zhuzhou CRRC Times Electric, with a procurement target of three sets of hydrogen power supply container assemblies. The designated supplier for this project is Guangdong Anpei Electric Power Co., Ltd. Policy Review 1. Scientifically plan the development of green hydrogen, ammonia, and methanol. Coordinate factors such as wind and solar resources, carbon sources, and water sources, integrate infrastructure construction for transportation, refueling, and transshipment, and plan the layout of green hydrogen, ammonia, and methanol production bases according to local conditions. Based on market demand, build integrated wind-solar hydrogen-ammonia-methanol projects for nearby consumption and utilization. Encourage the development of wind-solar hydrogen production in weak-grid or off-grid modes. Large-scale development projects for green hydrogen, ammonia, and methanol. Focus on northeast China, planning to build green hydrogen, ammonia, and methanol production bases primarily for outward transmission. Based on local conditions, plan to build green hydrogen, ammonia, and methanol production bases for nearby utilization in regions such as the 'Jiziwan' area of the Yellow River, northern North China, and the northern foothills of the Tianshan Mountains. 2. The Department of Economy and Information Technology of Zhejiang Province issued a notice on the 'Work Plan for Accelerating Scenario Cultivation and Openness to Promote Large-Scale Demonstration Applications of New Technologies, New Products, and New Scenarios.' Hydrogen energy application scenarios: Leverage the advantage of industrial by-product hydrogen resources to build the Yangtze River Delta Hydrogen Highway and Hydrogen Corridor, promote fuel cell vehicles such as port heavy-duty trucks, cold chain logistics, and bus passenger transport, and develop demonstration application scenarios for hydrogen transportation such as ships, forklifts, two-wheelers, and drones. For industrial application scenarios, advance the integrated construction of renewable energy hydrogen production projects, produce green hydrogen at scale or further synthesize green ammonia and green methanol, and promote the substitution of hydrogen-based chemical raw materials and green fuels. In industrial and civil fields, on the premise of ensuring safety, explore hydrogen-ammonia-methanol co-firing application scenarios. 3. The Beijing Municipal Administration for Market Regulation, the Tianjin Municipal Market Regulation Commission, and the Hebei Provincial Administration for Market Regulation jointly formulated the 'Technical Specification for Carbon Inclusive Project Emission Reduction Accounting - Hydrogen Fuel Cell Vehicles' (DB11/T 3054-2026), released on July 6, 2026, and will be implemented from October 1, 2026. This standard defines the terms and definitions related to hydrogen fuel cell vehicles in the carbon inclusive project emission reduction accounting for the Beijing-Tianjin-Hebei region, and stipulates the basic requirements, greenhouse gas types, project boundaries and crediting periods, accounting methods, data monitoring and management, and key verification points for hydrogen fuel cell vehicle carbon inclusive projects. This document applies to the design, construction, and operation of hydrogen fuel cell vehicle carbon inclusive projects within the administrative region of Beijing-Tianjin-Hebei. Enterprise Developments Shaanxi Hydrogen Energy (Xianyang) Development Co., Ltd. has settled in the Shaanxi Hydrogen Energy Quality Technology Innovation Base. It will subsequently focus on the layout of liquid hydrogen storage system R&D and industrialization projects within the base. Leveraging the platform advantages of the base in inspection and testing, standard research, and industry-university-research collaboration, it will conduct performance testing, safety verification, and process optimization for liquid hydrogen storage equipment, accelerating product iteration for liquid hydrogen storage tanks and complete refueling systems. China Energy Engineering Group (Jiuquan) New Energy Co., Ltd. is a new energy company established by China Energy Engineering Group with a registered capital of RMB 1 million, located in the Economic and Technological Development Zone, Northwest Street Subdistrict, Suzhou District, Jiuquan City, Gansu Province. Its business scope includes permitted projects: power generation business, power transmission business, power supply (distribution) business; power supply operations (projects subject to legal approval can only be carried out after approval by relevant departments). General projects: contract energy management; engaging in investment activities with its own funds; power generation technical services; sales of hydrogen refueling station and hydrogen storage facilities, etc. Shanghai Hyfun Energy Technology Co., Ltd. : Its Shanghai Standardization Pilot Project has been successfully accepted. Companies in the same hydrogen refueling field can directly reuse the mature model established by Hyfun for this standard system, including grounded verification and iterative optimization, significantly reducing standardization construction costs. The complete set of standardized R&D and production processes for hydrogen refueling station equipment can be transferred and reused in hydrogen refueling production scenarios across various regions nationwide. Shanghai Xinran Compressor Co., Ltd.: has successfully signed a hydrogen compressor procurement project with Shandong Taihe Technology Co., Ltd., with both parties having completed the project signing. This customized equipment is designed for the operating conditions of a large PetroChina hydrogen production station, relying on the group's mature liquid-driven compression technology, with advantages in high-pressure output, stable continuous operation, and convenient maintenance. The equipment has completed full-process simulated operating condition testing before leaving the factory, strictly meeting the standards for hydrogen refueling, storage, and transportation in the oil and gas industry. Jiangsu Huade Hydrogen Energy Technology Co., Ltd.: A set of CarNeu-500 500kW large-power hydrogen power generation system has completed manufacturing and factory acceptance testing, and has been officially shipped to Brazil, marking the first project delivery in the South American market. This system is also the largest single-unit power station product delivered by the company to date. Tianneng Hydrogen Energy Technology Co., Ltd.: The first batch of officially operational hydrogen fuel cell buses in Maoming City, Guangdong Province, are equipped with the Chenxing-T80 fuel cell system independently developed by Tianneng Hydrogen Energy Technology Co., Ltd., aiming to support the construction of the local green public transportation system. Guangzhou Shipbuilding Industry Co., Ltd.: The 2000-ton hydrogen fuel cell powered cargo ship 'Yuntao No.1', undertaken by the company and developed by the 605th Research Institute for Guangdong Yuntao Hydrogen Energy Technology Co., Ltd., has been launched in Zhaoqing, Guangdong. The ship is the largest hydrogen-powered multipurpose cargo vessel in China. The ship has an overall length of 69.3 meters, a beam of 13.7 meters, and a maximumdwt of 2,000 mt. The ship uses hydrogen fuel as its power source, paired with an efficient electric propulsion system, achieving zero carbon emissions. It is equipped with an integrated energy management system that intelligently optimizes and precisely distributes energy to ensure high-efficiency energy utilization. Zaihe Automobile Technology (Suzhou) Co., Ltd.: has teamed up with Jieqing Technology to launch a new hydrogen-electric heavy truck. The two parties have reached a strategic partnership to jointly promote the popularization of hydrogen-powered heavy trucks. Patent Applications 1. The Shanghai Institute of Ceramics, Chinese Academy of Sciences (China) published patent CN2025110028, developing a ceramic-based anion exchange membrane with a laboratory test life of 80,000 hours. 2. Johnson Matthey (UK) filed patent WO2025109876, disclosing a Fe-Ni-Mo ternary non-precious metal catalyst formulation with activity close to platinum-based materials. Technology Footprints / Technical Specifications 1. The latest research achievement of Professor Hu Wenbin's team at Tianjin University has been published online in the international top journal Science. The study overcomes a key challenge in the precise preparation of platinum group catalysts, opening up a new technical pathway for the atomically precise preparation of platinum group catalysts. 2. The teams of Tong Lei and Liang Haiwei from the University of Science and Technology of China (USTC), together with Zhang Liang from Tsinghua University, proposed a Carbon Mesopore Depth Engineering (CMDE) strategy. Based on hollow mesoporous carbon spheres to regulate ionomer penetration depth, it solves the inherent contradiction between kinetic activity and oxygen mass transfer in low-platinum fuel cells, developing a PtCo low-platinum catalyst with poisoning tolerance, high mass transfer, and excellent durability, achieving power, activity, and durability targets set by the US DOE at an ultra-low platinum loading of 0.1 mgPt cm⁻². 3. Professor Li Zhipeng's team at Northwestern Polytechnical University innovatively constructed a three-dimensional multi-physics field coupling model for tubular solid oxide fuel cells, systematically revealing the quantitative influence laws of temperature, electrode thickness, porosity, and oxygen domain geometric parameters on the cell's output performance. 4. The National Hydrogen Power Quality Inspection and Testing Center of China Automotive Engineering Research Institute has built a 0-400kW hydrogen-related loaded three-comprehensive vibration test platform and opened it for commercial use, filling the gap in large-power hydrogen-related multi-physics field coupled testing in China. 5. The high specific power cathode closed air-cooled stack technology developed by the team of Academician Chen Zhongwei and Associate Researcher Zhang Meng at the State Key Laboratory of Energy Catalytic Conversion, Dalian Institute of Chemical Physics, has passed the scientific and technological achievement appraisal by the China Petroleum and Chemical Industry Federation. This technology effectively overcomes the industry contradiction between water retention and oxygen mass transfer in air-cooled fuel cells, solving technical challenges including low-humidity performance degradation, carbon corrosion, membrane dry-out/flooding, and high-power thermal management.