SMM June 24 – Metals market: As of the midday close, all domestic base metals fell, with SHFE copper down 0.95%, SHFE aluminum down 1.11%, SHFE lead down 0.12%, SHFE zinc down 1.7%, SHFE nickel down 1.94%, and SHFE tin down 4.64% to a session low of 388,220 yuan/mt. In addition, the most-traded casting aluminum contract fell 1.01%, the most-traded alumina contract rose 0.52%, the most-traded lithium carbonate contract rose 1.67%, the most-traded silicon metal contract edged down, and the most-traded polysilicon contract rose 0.28%. Ferrous metals showed mixed performance, with iron ore up 0.68%, rebar edging down, HRC edging up, and stainless steel down 1.27%. On the coking coal and coke front: the most-traded coking coal contract fell 0.64%, and the most-traded coke contract was at parity with 1,953.5 yuan/mt. On the overseas base metals front, as of 11:38, LME metals were nearly all lower. LME copper rose 0.24%, LME aluminum fell 0.67%, LME lead fell 0.44%, LME zinc and LME tin fell within 0.5%, and LME nickel edged down. On the precious metals front, as of 11:38, COMEX gold fell 1.86% and COMEX silver fell 1.34%. On the domestic precious metals front: the most-traded SHFE gold contract extended its losing streak from the previous four trading days, falling another 2.37% to a session low of 886.34 yuan/g; the most-traded SHFE silver contract extended its losing streak from the previous three trading days, falling another 5.08%. Additionally, as of the midday close, the most-traded platinum futures fell 0.6% and the most-traded palladium futures fell 1.41%. As of the midday close, the most-traded European container shipping futures contract rose 0.79% to 3,745 points. As of 11:38 on June 24, some futures midday market data: Spot and Fundamentals Copper: Today, Guangdong #1 copper cathode spot prices against the front-month contract: high-quality copper was quoted at a premium of 80 yuan/mt, flat from the previous trading day; standard-quality copper was quoted at a premium of 20 yuan/mt, up 10 yuan/mt from the previous trading day; SX-EW copper was quoted at a discount of 60 yuan/mt, up 10 yuan/mt from the previous trading day. The average price of Guangdong #1 copper cathode was 103,310 yuan/mt, down 975 yuan/mt from the previous trading day, and the average SX-EW copper price was 103,200 yuan/mt, down 970 yuan/mt. Spot market: Guangdong inventory rose for the fourth consecutive trading day, mainly due to increased arrivals... Macro Front Domestic Side: [Three Ministries Implement 2026 Insurance Compensation Policy for First (Set of) Major Technical Equipment] The MIIT General Office, the Ministry of Finance General Office, and the National Financial Regulatory Administration General Office issued a notice on implementing the 2026 insurance compensation policy for the first (set of) major technical equipment. The notice stated that complete equipment is generally supported based on the number of units (sets); core systems, key parts, key supporting components for major technical equipment, and basic components are generally supported based on the number of batches. For complete equipment such as high-end industrial machine tools, specialized electronic equipment, new-type agricultural machinery, and precision instruments and meters, which have relatively low per-unit value, support can be provided on a batch basis; for high-value core systems and key components like aircraft engines and marine engines, support can be provided on a per-unit basis. [Ultra-long special government bonds have helped upgrade over 360,000 elevators] On June 24, it was learned from the Ministry of Housing and Urban-Rural Development that since the state included the upgrading of old residential elevators into the scope of ultra-long special government bond funding support, various localities have actively relied on policy support to vigorously promote the upgrading of old residential elevators, facilitating residents' convenient travel. To date, a total of over 360,000 old residential elevators have been upgraded. (CCTV News) [PBOC reverse repo net injection of 242.2 billion yuan today] The PBOC today conducted 662.5 billion yuan of 7-day reverse repo operations at an operation rate of 1.4%, unchanged from the previous. Today, 420.3 billion yuan of reverse repo matures. US Dollar: As of 11:38, the US dollar index rose 0.1% to 101.47. On the data front: on June 24, S&P Global released data showing that the US June composite Purchasing Managers' Index (PMI) flash reading rose to 52.2, higher than the previous 51.5 and market expectations of 52.1, hitting a five-month high and indicating continued expansion in US business activity. By sector, manufacturing stood out. New orders grew at the fastest pace in over four years, driving a marked pickup in factory production. The US June manufacturing PMI flash reading rose to 55.7, the highest since May 2022, exceeding the expected 54.6 and the prior 55.1. Meanwhile, the service sector also maintained expansion, with the June services PMI flash reading climbing to 51.3, a four-month high, above the expected 51.1 and the prior 50.7. At the same time, easing cost pressure expectations due to the de-escalation of Middle East tensions also boosted business confidence. However, the survey also showed that issues such as supply chain delays, rising raw material costs, and slowing employment persist, and the foundation for economic recovery is not solid. (From Wall Street Insight APP) According to CNBC, as the search for the next president of the Federal Reserve Bank of Atlanta enters its seventh month, the hiring process is being closely watched. Observers hope to see how the new Fed chief Warsh will reshape the Federal Open Market Committee (FOMC), which is responsible for setting interest rate policy. As Warsh began to exert his personal influence within the Fed, the selection process shifted. During former Fed Chairman Powell’s tenure, the Fed had already been scouting candidates for the Atlanta Fed president job title, according to two people familiar with the hiring process. However, to allow Warsh to take the lead on the appointment, the selection process was temporarily suspended. Because the search is still ongoing, both sources requested anonymity. They noted that Michael Faulkender, who previously served as a senior Treasury official under President Trump, was subsequently added to the list of candidates for the Atlanta Fed presidency. It remains unclear whether Faulkender is still a candidate. (Jin10 Data App) According to CME “FedWatch”: the probability that the Fed holds rates steady in July is 62.6%, while the probability of a cumulative 25bps hike is 37.4%. The probability that the Fed holds rates steady through September is 29.8%, with a 50.6% chance of a cumulative 25bps hike and a 19.6% chance of a cumulative 50bps hike. In other currencies: Data released on Wednesday showed that Australia’s CPI slowed in May, weighed down by lower fuel costs and reduced holiday travel demand. Still, core inflation came in above expectations, suggesting that further rate hikes cannot be ruled out. According to Australian Bureau of Statistics data, the CPI fell 0.7% MoM in May, while the YoY growth rate slowed to 4%, down from the previous reading of 4.2% and compared with market expectations of a 0.4% MoM decline and 4.3% YoY growth. However, core inflation, which strips out volatile items, rose 0.4% MoM in May—topping expectations of 0.3%—pushing the annual rate to 3.6%. The RBA has already hiked rates three times this year as it seeks to pull core inflation back into its 2%–3% target range. The Bank of Japan signaled in the minutes of last week’s board meeting that there is a need to further raise the benchmark interest rate. At that meeting, the BOJ lifted the policy rate to its highest level since 1995. According to the minutes released on Wednesday, one member stated: “Given that core CPI inflation is close to 2% and financial conditions remain accommodative, the Bank should continue raising the policy rate in response to the current economic, inflation and financial environment.” While the BOJ’s move last week marked its first rate hike since last December and signaled clearly that more increases are ahead, the minutes offered no explicit guidance on the timing of the next hike. Even so, they reinforced market expectations for another rate increase before the end of the year. The day after the meeting concluded, a survey of economists showed that about 90% of respondents expected another rate hike before December, with over one-third projecting October as the next adjustment window. Economists now expect the benchmark rate in this hiking cycle to reach 1.75%, up from the 1.5% forecast in the survey earlier this month. (Jin10 Data App) Data: Today will see the release of Australia's unadjusted May CPI y/y, Germany's June IFO business climate index, Switzerland's June ZEW investor sentiment index, the Q1 US current account, and US new home sales (annualized) for May, among other data. Also on watch: the Bank of Japan publishes a summary of opinions from the board members on the June monetary policy meeting; the 2026 Shanghai Mobile World Congress runs through June 26. Crude Oil: As of 11:38, oil prices on both exchanges fell, with WTI down 1.08% and Brent off 0.87%. Following a temporary peace agreement between the US and Iran, tanker traffic through the Strait of Hormuz resumed, keeping international crude prices under pressure. (Wall Street News) Iran's ambassador in Geneva stated that the Strait of Hormuz is fully open to commercial vessels, and a significant volume of oil has been transported through the waterway in recent days. (Jin10 Data App) On June 23 local time, US President Trump said the United States is "working toward a fair agreement with Iran" to end the conflict in the Strait of Hormuz. He noted that 19 million barrels of oil were transported through the strait just the previous day (June 22). Trump reiterated that "Iran cannot have nuclear weapons" and indicated that work on the matter is progressing well. (CCTV) Spot Market at a Glance: ► ► ► ► ► ► ► ► ► ► ► ► ►

The Ministry of Industry and Information Technology (MIIT), the Ministry of Commerce, together with the National Development and Reform Commission (NDRC), the Ministry of Agriculture and Rural Affairs, and the National Energy Administration will organize and launch the 2026 NEV promotion campaign in rural areas. The notice proposes to further advance vehicle trade-in initiatives into rural areas. During the NEV promotion campaign, a trade-in section will be established, where publicity and promotion of subsidy policies will be carried out, and one-stop services such as old vehicle detection, assessment, and recycling, as well as assistance with subsidy application procedures, will be provided, to further enhance the visibility and coverage of preferential policies and facilitate rural consumers' participation in and enjoyment of the subsidies. All rural consumers who trade in for NEVs may apply for the vehicle trade-in subsidy in accordance with policy requirements, without restrictions on the number of subsidy qualifications.

On June 16, in accordance with the mandatory national standard development and revision plan issued by the Standardization Administration of China, the Ministry of Industry and Information Technology organized the completion of the compilation of two mandatory national standards (draft for approval), including the Intelligent Connected Vehicles — Automated Driving System Safety Requirements, and the foreign language version of the mandatory national standard In-vehicle Accident Emergency Call System (draft for approval). To further solicit opinions from all sectors of society, the draft standards for approval and their compilation notes are now made public. Publicity period: June 17, 2026 to June 24, 2026.

Capacity-wise, according to incomplete statistics, China’s alkaline electrolyzer market stands at 43.77 GW, and the PEM electrolyzer market at 2.7 GW. This week, no offline delivery information was publicly available. Project-related updates: Jiyuan (Siping) Green Energy Co., Ltd.: SPIC Green Energy issued the termination announcement for the centralized tender of the 12th batch of infrastructure projects in 2026. The D12-01 Biochar Preparation Unit EPC General Contracting Section under the subsidiary Lishu Wind and Solar-Based Green Hydrogen Coupled with Biomass Green Methanol Project has been officially terminated. The reason cited was notification from the bid inviter, without disclosure of details such as project adjustments or plan changes. It is understood that this section planned to build a new biochar preparation unit with an annual capacity of 240,000 mt, adopting an end-to-end EPC general contracting model covering supporting systems including biomass pretreatment, drying, torrefaction, and cooling, as well as a carbon shaping core system, heat supply, conveying, civil works, and intelligentization. Huawang (Qingdao) Hydrogen Technology Group Co., Ltd.: Re-tender announcement for the general contracting of the hydrogen purification station project at the Hydrogen Industrial Park. The project is located in Dongjiakou Chemical Park, Huangdao District, Qingdao, with a total investment of 46.2968 million yuan, an engineering cost of 27 million yuan, a maximum bid ceiling of 26.8 million yuan, and a design fee ceiling of 200,000 yuan. The site covers 720 m² and includes one 5,000 Nm³/h PSA purification unit for upgrading hydrogen-rich tail gas, designed to produce over 3,600 mt/year of high-purity hydrogen with a purity ≥ 99.999%, meeting China’s national standards for vehicle-grade hydrogen. Guohua (Ningxia) New Energy Co., Ltd.: Open tender for the PC construction general contracting of the integrated hydrogen production portion of the Solar-Storage-Hybrid Off-Grid Hydrogen Production Key Technology Research and Demonstration Project. The project is located south of the Qingshuiying hydrogen production station in Ningdong Town, covering about 33 mu, with utilities relying on the existing hydrogen station. It plans six hydrogen production trains — Train E is a 1,000 Nm³/h hybrid pilot unit; Trains F through J consist of five new hydrogen production systems each rated at 1,000 Nm³/h (maximum operating load 1,200 Nm³/h), each paired with an 800 Nm³/h alkaline electrolyzer, a 200 Nm³/h PEM electrolyzer, and purification equipment, achieving hydrogen purity of 99.999%. China Coal Green Energy (Ordos) Energy Technology Co., Ltd. : The prequalification results for the basic design of the first-phase hydrogen-ammonia project and supporting utilities of the Uxin Banner Wind and Solar-Based Hydrogen-to-Ammonia Integrated Project have been published. Wuhuan Engineering Co., Ltd. ranked first with a bid price of 1.698 million yuan. Goldwind Green Hydrogen Technology (Xing’an League) Co., Ltd. : The Xing’an League Goldwind Science & Technology Wind-to-Hydrogen (Phase III) Project has released its first environmental impact assessment public notice. The project is located in the Xing'an League Economic and Technological Development Zone, an expansion project with a hydrogen production capacity of 160,000 Nm³/h. It is being constructed in three phases: the first and second phases each have a hydrogen production capacity of 32,000 Nm³/h, and upon completion of the third phase, total self-owned green hydrogen capacity will reach 224,000 Nm³/h, with an additional 56,000 Nm³/h of green hydrogen purchased externally. The supporting green methanol project has a combined capacity of 1.575 million mt across the three phases. Pre-construction work is currently progressing in an orderly manner. Guohua (Rudong) New Energy Co., Ltd.: The solar-hydrogen-energy storage integrated project has been fully completed and put into operation. It is the largest project of its kind in China and a key national PV base project, integrating PV, energy storage, and green electricity hydrogen production facilities to build a complete green electricity industry chain. The project generates 468 million kWh of electricity annually, sufficient to meet the power needs of nearly 200,000 households, and reduces carbon dioxide emissions by more than 300,000 mt per year. The energy storage system supports stable grid operation and enhances new energy consumption levels. The project produces 482 mt of high-purity green hydrogen annually, achieving zero-carbon production, with the green hydrogen supplied directly to the Yangtze River Delta region. The entire system has been commissioned and all indicators meet the standards. CSSC (Handan) Peric Hydrogen Technologies Co., Ltd.: The Shuangyashan Jixian electrolyzer project has completed filing. It is invested and constructed by Heilongjiang Hai Rui Ke Energy Technology Co., Ltd. The project is located in Jixian County, Shuangyashan City, with a total investment of 612 million yuan, including fixed asset investment of 238.7 million yuan, and a construction period of two years. It is planned to build a new production line with an annual output of 500 sets of 1,000 Nm³/h alkaline electrolyzers and complete hydrogen production equipment, with a total capacity of 2.5 GW. The project covers an area of 63.23 mu, where factory buildings, office buildings, and supporting facilities will be constructed, and equipment such as CNC machining, welding, assembly, and detection equipment will be procured. Junrui Green Hydrogen (Alxa League) Energy Co., Ltd.: A change announcement for the winning bid result of the first phase of the 14,400 mt/year green hydrogen base project in the Alxa High-tech Zone has been released. The original first-ranked winning candidate, a consortium led by Xinjiang Xingyu Construction Engineering Co., Ltd., failed to collect the bid acceptance notice within the specified time as required. According to the tender document provisions, this is deemed an automatic forfeiture of the winning qualification. After this change, the second-ranked winning candidate, a consortium led by Guangxi Construction Engineering Group No.4 Construction Engineering Co., Ltd., becomes the project's winning bidder. The winning bid amount is 915,185,806.17 yuan, and the project duration is 18 months (549 calendar days). The project had previously completed the public announcement of winning candidates and the release of the initial winning bid result in April. China Coal Green Energy (Ordos) Energy Technology Co., Ltd. : The winning bid result for the design and survey services of the first phase of China Coal Green Energy (Ordos) Uxin Banner wind-solar hydrogen production and ammonia synthesis integrated project's hydrogen production, storage, and transportation engineering has been announced. China Power Engineering Consulting Group North China Electric Power Design Institute Co., Ltd. won the bid for 4.75 million yuan. The project is located in Uxin Banner, Ordos. Phase I will construct large-scale electrolytic water-based hydrogen production equipment, spherical tanks, and solid-state hydrogen storage facilities, with a total hydrogen storage capacity of 308,000 Nm³, accompanied by supporting systems for hydrogen transport and automatic control. The project encompasses the entire industry chain of wind and solar power generation, hydrogen production and storage, and ammonia synthesis. Gansu Huanshui Energy Chemical Co., Ltd. : Gansu Huanshui Energy Chemical issued the tender announcement for the EPC contract of electrolytic hydrogen production supporting the Huadian flexible ammonia project, a key project under the Ministry of Industry and Information Technology (MIIT). Located in the Tianshui Chemical Park, Huan County, Qingyang, Gansu, the project covers an area of 524.43 mu. It will construct new facilities for sodium chloride electrolysis and mercury-free polyethylene and related supporting infrastructure, with a total investment of 2.6112 billion yuan. Relying on green electricity for production, it will produce 31.50 million Nm³ of hydrogen annually, primarily supplying the flexible ammonia project. The construction period is 24 months, and consortium bids are allowed, with a maximum of 4 members; the lead partner must possess construction qualifications. Sinopec Xinxing Xinjiang Green Hydrogen New Energy Co., Ltd. : The candidate for the general construction contracting (Section 1) of the new-type electrolyzer industrial application demonstration project was announced, with Sinopec Henan Oil Construction Engineering Co., Ltd. ranking first. The project will build multiple electrolyzer testing platforms, along with supporting civil engineering, substation, automatic control, and fire protection facilities, covering construction, material procurement, and subsequent maintenance and related work. Zhongxiang Fuguang Energy Technology Co., Ltd.: The integrated energy project coupling green electricity-based hydrogen production with CO₂ capture has been filed in Zhongxiang city, Jingmen, Hubei. With a total investment of 2.8 billion yuan, the project focuses on green hydrogen preparation, direct air carbon capture, and green fuel synthesis. Once completed, it is expected to produce 10,000 mt of green hydrogen, 10,000 mt of sustainable aviation fuel (SAF), and 150,000 mt of China VI standard diesel annually, with construction scheduled to start in February 2027. The project site is in Zhongxiang city, planned to lease 1,000 mu of land, and will construct 260,000 m² of new factory buildings, a 20,000 m² standardized hydrogen storage yard, and supporting auxiliary facilities, procuring 216 units (sets) of core equipment including electrolyzers, storage tanks, and control systems. Shanghai Yiwei Industrial Technology Co., Ltd.: won the bid for the general contracting project of the 1500Nm³/h integrated biomethane-based hydrogen production and refueling station in Pinggu Mafang for Beijing Gas. This project is Pinggu's first integrated hydrogen production and refueling demonstration project and a key demonstration project for Beijing Gas to promote green energy transition. The project is configured with three Hysail-500Nm³/h containerized hydrogen generators, with a total production capacity of 1500Nm³/h. Leveraging biomethane-based hydrogen production technology, it creates a model of 'on-site production, immediate refueling, and nearby consumption,' yielding 99.999% high-purity hydrogen compliant with the GB/T37244-2018 national standard for vehicle hydrogen. Once completed, it will become a critical hub for hydrogen energy supply in eastern Beijing. Policy Review 1. The National Development and Reform Commission (NDRC) and other departments issued a notice on printing and distributing the "Guidelines for Accounting Non-Fossil Energy Electricity Consumption (Trial)". The content pointed out the need to strengthen alignment with energy statistics and carbon emission accounting systems, holistically consider factors such as physical connections, electricity energy trading, and green electricity certificate trading, and clearly categorize the rules for recognizing non-fossil energy electricity consumption and the accounting methods for users at the province (autonomous region, municipality directly under the central government; the same hereinafter) and city (prefectural) levels. Recognition methods for non-fossil energy electricity consumption: Physical Recognition. Self-generated and self-consumed non-fossil energy electricity and self-consumed electricity from new business models like direct green electricity connections are recognized as the electricity user's non-fossil energy electricity consumption. Electricity consumed for the production of non-fossil energy power generation projects is recognized as the generation enterprise's non-fossil energy electricity consumption. Transaction Recognition, encompassing electricity energy trading (including conventional non-fossil energy electricity trading, green electricity trading, etc.; the same hereinafter) and green certificate trading (including green certificate transfers, etc.; the same hereinafter). 2. The Energy Bureau of Jilin Province and the Development and Reform Commission of Jilin Province jointly issued the notice on the "Implementation Plan for Accelerating the Integrated and Converged Development of New Energy in Jilin Province". Overall goal: By 2030, integrated and converged development shall become a major approach for new energy expansion in the province, with new scenarios featuring integration and convergence emerging continuously. The province's new energy development model will become more flexible, consumption channels more diverse, application scenarios richer, and the electricity market more dynamic, with over 50 new integrated application projects and scenarios being newly established, strongly supporting the comprehensive green transformation of the province's economic and social development. 3. The Administration for Market Regulation of Guangdong Province issued a notice soliciting opinions on the provincial local standard "Operational Specifications for Integrated Hydrogen Production, Storage, and Refueling Equipment (Draft for Review)". The document states that this standard specifies the basic requirements, personnel management, equipment and facility management, hydrogen quality management, refueling operation management, safety management, archive management, and data recording for the operation of integrated hydrogen production, storage, and refueling equipment. Corporate Dynamics Guohong Hydrogen Energy Technology (Jiaxing) Co., Ltd. : Hydrogen heavy-duty trucks from Hongjing Logistics, equipped with Guohong Hydrogen Energy fuel cell systems, officially commenced commercial operation in Xinjiang. The first batch of vehicles departed fully loaded with coke from the Yongxin Coal Chemical Plant in Fukang city, traveling 130 km one way to arrive at the Urumqi Bayi Steel Plant. Beijing Future Hydrogen Energy Technology Co., Ltd. : drafted and released the group standard "Long-term Stability Assessment Method for AEM Water Electrolysis Hydrogen Production Membrane Materials"(T/CIET 2226-2026). Hubei Inteli Electric Co., Ltd. : has seen its cumulative hydrogen project performance in the European export market exceed 1GW. It previously secured contracts to supply 38 units of 4000 Nm³ (alkaline) hydrogen production power supply equipment for a green hydrogen green steel project and 50MW megawatt-class IGBT PWM hydrogen production power supplies for a petrochemical enterprise in Greece. Sungrow Hydrogen Energy Technology Co., Ltd. : won the bid for the green hydrogen coupling coal chemical section of the first-phase project of the 600,000 kW off-grid renewable energy-based hydrogen production project in the Pingshuo coal mining subsidence area of China Coal Group, becoming the primary supplier of alkaline electrolyzer packages for this project with a 48MW scale. The project adopts a pure off-grid hydrogen production technology route, relying on PV and other renewable energy sources to produce green hydrogen, which is directly supplied to coal chemical production lines. It serves as a benchmark project for low-carbon transition using wind and solar hydrogen production in the coal mining industry. According to the supply plan, Sungrow Hydrogen will provide 8 units of 1200Nm³/h electrolyzers, 2 sets of 4800Nm³/h gas-liquid separation and purification systems, along with its self-developed '4-to-1' flexible hydrogen production integrated solution, effectively enhancing the integration level of the equipment package and the long-term operational economy. The company's relevant off-grid hydrogen production package system has undergone long-term verification at a 30MW electrolytic water hydrogen production empirical base, possessing core advantages such as wide load regulation, millisecond-level power response, and long-cycle stable operation, perfectly adapting to fluctuating PV power conditions and addressing pain points in off-grid hydrogen production operations. Anscombe (Beijing) Hydrogen Energy Technology Co., Ltd.: successfully won the bid for the green hydrogen coupling coal chemical section of the first-phase project of the 600,000 kW off-grid renewable energy-based hydrogen production project in the Pingshuo coal mining subsidence area of China Coal Group. The project utilizes an off-grid hydrogen production model, preparing green hydrogen from PV renewable energy, with the hydrogen output supplied directly for coal chemical production use. This project is a core initiative of China Coal Group's 'green hydrogen + coal chemical' coupled low-carbon pathway. Its scale is leading, and the off-grid operation mode imposes extremely high technical requirements on hydrogen equipment enterprises for system integration and adaptability to fluctuating new energy conditions. According to the cooperation plan, Anscombe will supply 4 units of 1200Nm³/h electrolyzers, 1 set of 4800Nm³/h gas-liquid separation and purification system, and provide a '4-to-1' flexible hydrogen production overall solution, comprehensively matching unstable off-grid wind/solar power operating conditions. Transportation Energy Company of Yanchang Petroleum & Gas Group: The hydrogen refueling demonstration station it constructed at the Fuping Service Area (North Zone) on the G5 Beijing-Kunming Expressway has successfully achieved mechanical completion and entered the feed test phase. This station is the first hydrogen refueling demonstration station on an expressway in north-west China, with a total investment exceeding 18.30 million yuan. It is a standardized Level 3 hydrogen refueling station, designed with a daily refueling capacity of 1,000 kg, equipped with an intelligent hydrogen refueling management and control system, capable of serving hydrogen-powered heavy-duty trucks and intercity buses, improving the Shaanxi expressway hydrogen energy supply network. Ai Hydrogen Technology (Group) Co., Ltd. : signed the contract for the western China integrated solid-state hydrogen production, storage, and utilization project with the People's Government of Zhong County, Chongqing. The project will address the shortage of hydrogen sources in Chongqing and guarantee hydrogen demand for transportation and industrial users in eastern Chongqing during the '15th Five-Year Plan' period. Relying on the enterprise's proprietary magnesium-based solid-state hydrogen storage core technology, the project can solve industry challenges such as high hydrogen storage and transportation costs and insufficient safety, enabling large-scale, low-cost, and safe hydrogen storage and transport. China Power Engineering Consulting Group Co., Ltd. : The 10,000 mt-level biomass pressurized gasification pilot plant successfully completed a 72-hour continuous operation test. Industry experts witnessed that the parameters were stable, the equipment operated normally, and multiple core capabilities were verified, marking key progress in the engineering R&D of this technology. The project was led by CPEIC Zhonghe Institute, collaborating with multiple entities to systematically verify biomass pressurized gasification, operating condition optimization, and engineering scale-up aspects. Lanzhou LS Group Co., Ltd.: its self-developed 1000 Nm³ PEM electrolytic water hydrogen production system successfully passed industrial testing. The project's hydrogen production power supply was provided by Hubei Inteli Electric, featured a containerized integrated solution; the equipment completed installation and commissioning ex-factory, offering convenient deployment and strong adaptability, which can effectively shorten construction periods. 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), submitted patent WO2025109876, disclosing an Fe-Ni-Mo ternary non-precious metal catalyst formulation, with activity approaching that of platinum-based materials. Technical Footprints / Technical Specifications 1. Lei Tong, Haiwei Liang from USTC, and Liang Zhang's team from Tsinghua University proposed the Carbon Mesoporous Depth Engineering (CMDE) strategy. By utilizing hollow mesoporous carbon spheres to regulate ionomer penetration depth, it resolves the inherent contradiction between kinetic activity and oxygen mass transport in low-platinum fuel cells, developing a PtCo low-platinum catalyst that balances poisoning resistance, high mass transport, and excellent durability, achieving power, activity, and durability targets set by the US DOE at an ultra-low platinum loading of 0.1mgPt cm⁻². 2. Professor Zhizhang Li's team at Northwestern Polytechnical University innovatively constructed a three-dimensional multi-physics field coupled model for tubular solid oxide fuel cells, systematically revealing the quantitative influence rules of temperature, electrode thickness, porosity, and oxygen domain geometric parameters on battery output performance. 3. China Automotive Engineering Research Institute's National Hydrogen Energy Power Quality Inspection and Testing Center completed a 0-400 kW hydrogen-involved load-bearing three-comprehensive vibration testing platform and opened it for commercial use, addressing the gap in domestic testing for high-power, hydrogen-involved multi-physics coupling. 4. The high specific power cathode closed-cathode air-cooled stack technology developed by the team of Academician Zhongwei Chen and Associate Researcher Meng Zhang at the Dalian Institute of Chemical Physics' State Key Laboratory of Energy Catalysis and Conversion 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 transport in air-cooled fuel cells, solving technical challenges such as low-humidity performance degradation, carbon corrosion, dry membrane water flooding, and high-power thermal management. 5. Two group standards related to water electrolysis-based hydrogen production were officially released and implemented, namely "Safety Technical Specifications for Water Electrolysis Hydrogen Production" and "Economic Performance Indicator Calculation Methods for Water Electrolysis Hydrogen Production." 6. Petronor and H2SITE collaborate to advance membrane technology for hydrogen production, enhancing high-purity hydrogen in refining and low-carbon efficiency.

The MIIT has released the "Announcement on Road Motor Vehicle Manufacturers and Products" (Batch 408). In the list of proposed new vehicle manufacturers and the change information for existing manufacturers, Xiaomi Automobile Technology Co., Ltd. is prominently included. The change applied for by the company is the addition of extended-range electric passenger vehicle product categories, with the production address being No. 21 Courtyard, Huanjing Road, Beijing Economic-Technological Development Area, Beijing, which is the location of Xiaomi's automobile factory in Beijing.

On June 9, 2026, during the 19th International Solar Photovoltaic, Smart Energy, Energy Storage, and Battery Technology and Equipment Conference and Exhibition (SNEC PV+), new progress was made in hydrogen energy industry innovation and cooperation. Trina Green Hydrogen, a council member of the Hydrogen Energy Branch, joined the Trina Group at this industry event to showcase its self-developed integrated green hydrogen, ammonia, and methanol solution and core hydrogen production equipment , fully demonstrating its capabilities in R&D and delivery of system solutions covering PV, energy storage, and hydrogen integration. During the exhibition, Trina Green Hydrogen formally signed a comprehensive strategic cooperation agreement with the Nanjing Institute of the Fifth Electronics Research Institute of the Ministry of Industry and Information Technology (Nanjing Saibao Industrial Technology Research Institute Co., Ltd.). Leveraging their respective resource strengths, the two parties will deepen their engagement in the PV-storage-hydrogen industry and support its standardized and high-quality development. Since launching its Tianqing series of alkaline hydrogen production equipment in 2022, Trina Green Hydrogen had continuously advanced the technological iteration and performance optimization of ALK alkaline electrolyzers . Building on the low energy consumption advantages of the first-generation equipment, the second-generation Tianqing series completed comprehensive upgrades across five dimensions: R&D, testing, production, quality inspection, and after-sales service. By improving the internal structure of the cell stack, strictly controlling raw material quality, establishing an intelligent quality inspection system, and refining full-process after-sales service mechanisms, a standardized and normalized product delivery system was built. Through verified commercial project deployments in multiple scenarios, the company’s full-chain service capabilities—covering pre-project consulting, customized product design, production process control, factory performance testing, and on-site construction and delivery—have been widely recognized by clients in and outside China. To address operational pain points in current large-scale green hydrogen projects, the industry has faced technical challenges such as excessive oxygen content in hydrogen when electrolyzers operate at low loads and rising energy consumption caused by equipment performance degradation. At the exhibition, Ba Haitao, Senior Engineer of Trina Green Hydrogen’s solutions team, provided a detailed explanation of the core design philosophy behind the second-generation Tianqing series alkaline electrolyzers. By optimizing the internal flow channel structure, selecting high-performance raw materials, and combining simulation modeling with on-site testing validation, the products tackled the root causes of electrolyzer performance issues, effectively resolving common industry technical weaknesses. Meanwhile, the company’s self-built empirical testing platform not only met factory-standard product inspection requirements but also simulated fluctuating wind and solar power conditions to precisely verify electrolyzer adaptability to renewable energy generation. It also connected upstream and downstream enterprises across the industry chain, design institutes, and research institutions to jointly tackle core R&D topics in the green hydrogen sector. At the signing ceremony for this strategic cooperation, Dr. Bian Tiezheng, Head of Trina Green Hydrogen’s PV-Storage-Hydrogen Solutions, and Lyu Hongqiang, Head of Strategy & Marketing, joined Yan Shitan, Director of the Nanjing Saibao Technology Center, and Sheng Wei, Deputy Director of the Science, Technology and Quality Department, to complete the signing, officially launching in-depth collaborative cooperation between the two parties. It was introduced that Trina Green Hydrogen, as a specialized R&D and manufacturing enterprise for water electrolysis hydrogen production equipment and a PV-storage-hydrogen system solution provider, had built its own integrated PV+ESS+hydrogen empirical testing center , which enabled comprehensive operational testing and technical research on alkaline electrolyzers, complete hydrogen production systems, off-grid PV hydrogen production equipment, and system operation under fluctuating new energy conditions, backed by robust hardware testing infrastructure. Its partner, Nanjing Saibao Industrial Technology Research Institute, leveraging the China Saibao Laboratory platform, possessed deep technical expertise in product reliability assessment, environmental adaptability testing, professional testing and certification, industry standard development, and quality-related technical services, offering full-chain, specialized technical service capabilities. Based on the core needs of high-quality industry development, the two parties identified five key cooperation directions, covering the joint construction of an integrated PV-storage-hydrogen testing platform, collaborative R&D on cutting-edge technologies, product testing and evaluation, industry standard formulation, and full-chain industrial technical services . This cooperation adopted a “leading industry player + authoritative research and testing institution” model, combining complementary strengths to precisely fill the gap in testing and verification for China’s PV-storage-hydrogen equipment, thereby laying a solid foundation for the standardized R&D, large-scale deployment, and international promotion of green hydrogen equipment. The implementation of this strategic cooperation created a new benchmark for industry-university-research-inspection collaboration in China’s PV-storage-hydrogen sector. Going forward, the two parties will take the joint construction of the integrated testing platform as the core focus, continuously delivering standardized testing results and cutting-edge technological outcomes. This will help Trina Green Hydrogen accelerate the iterative upgrading of new products and the efficient delivery of global projects, while empowering technological innovation and quality improvement across the entire industry chain. It will further enhance China’s integrated PV-storage-hydrogen industry standard system, consolidate the technological and quality foundation for standardized and globalized industry development, and continue to inject hydrogen momentum into the implementation of the national dual carbon strategy.

Data shows that in 2024, the average curb weight of China's passenger cars reached 1,704 kg, nearly 400 kg heavier than in 2012. Additionally, around the year 2000, common household NEVs on the market mostly had a width of around 1.7 meters. In 2015, the width increased to 1.8 meters. This week, household vehicles that often weigh close to 2 tons are sparking discussions due to their growing size and weight. Automaker engineers state that for every 10 mm increase in the width of an NEV's auto body, approximately 0.8 kWh more electricity can be packed in. However, experts say that vehicles becoming "fatter" is not solely due to this reason. Experts explain: Some automakers use driving range as a selling point, claiming that their cars can travel 800 or 1,000 kilometers on a single charge. In fact, behind this is the need to install a large battery pack inside the vehicle, which may weigh 700 to 800 kg. On January 1 this year, a mandatory national standard for EVs was officially implemented. For any new car model failing to meet energy consumption standards, the MIIT will not grant registration; the vehicle cannot be produced, sold, or licensed, guiding automakers to curb the growing trend of "obesity" in EVs. In the future, NEVs may hopefully return to standard dimensions.

In accordance with the provisions and requirements of the Guiding Opinions of the General Office of the State Council on Creating a Favorable Market Environment to Promote Structural Adjustment, Transformation, and Efficiency Improvement in the Nonferrous Metals Industry (Guobanfa [2016] No. 42), the Notice of the Ministry of Industry and Information Technology on Matters Related to Capacity Replacement through Mergers and Restructuring for Aluminum Enterprises (MIIT Yuan [2018] No. 12), and other relevant documents, the capacity replacement plan for the 115,000 mt aluminum energy conservation, carbon reduction, emission reduction upgrading and renovation project of Guangyuan Hongchangsheng Aluminum Co., Ltd. is hereby publicized. The publicity period is from June 2 to June 16, 2026. Supervision by the public is welcome. If there are any objections to the content publicized, please report them to the Department of Economy and Information Technology during the publicity period.

SMM June 4 News: Metals market: As of the midday close, domestic market base metals fell across the board. SHFE copper, SHFE aluminum, SHFE lead, and SHFE zinc all dropped over 1%. SHFE tin fell 0.86%. SHFE nickel fell 2.55%. In addition, the most-traded casting aluminum futures fell 0.69%, and the most-traded alumina futures fell 2.02%. The most-traded lithium carbonate futures extended the decline from the previous three trading days, falling another 3.17%. The most-traded silicon metal futures fell 0.52%. The most-traded polysilicon futures fell 1.95%. Ferrous metals mostly fell. Iron ore dropped 1.47%, rebar fell 0.38%, hot-rolled coil fell 0.32%, and stainless steel fell 2.19%. Coking coal and coke: the most-traded coking coal contract rose 4.7%, and the most-traded coke contract rose 2.25%. Overseas market base metals: as of 11:45, LME metals generally fell. LME copper fell 0.09%, LME aluminum fell 0.12%, and LME lead fell 0.37%. LME zinc, LME tin, and LME nickel all fell within 0.3%. Precious metals: as of 11:45, COMEX gold rose 0.58%, and COMEX silver fell 0.05%. Domestic market precious metals: the most-traded SHFE gold futures fell 0.2%, and the most-traded SHFE silver futures fell 1.93%. In addition, as of the midday close, the most-traded platinum futures fell 1.81%, and the most-traded palladium futures fell 3.54%. As of the midday close, the most-traded Europe containerized freight index contract rose 0.44% to 3,758 points. As of 11:45 on June 4, midday futures quotes for selected contracts: Spot and fundamentals Aluminum: On June 4, SMM A00 aluminum (Foshan) was quoted at 24,130, down 190, at a discount of 190 to the current-month contract, narrowing by 60 (unit: yuan/mt). Futures stopped rising and turned lower today, while South China spot prices bucked the trend and stabilized with an upward bias... Macro front Domestic: [MIIT: From January to April, China's above-scale electronic information manufacturing value-added output was up 14% YoY] From January to April, the value-added output of above-scale electronic information manufacturing was up 14% YoY, 8.4 and 1.4 percentage points higher than the growth rates of overall industry and high-tech manufacturing over the same period, respectively. In April, the value-added output of above-scale electronic information manufacturing was up 15.6% YoY. Among major products, mobile phone production reached 452 million units, up 0.3% YoY, of which smartphone production was 390 million units, up 6.5% YoY; micro-computer equipment production was 95.426 million units, down 10% YoY; integrated circuit production was 176.97 billion units, up 24.7% YoY. (MIIT Weibo) [State Grid Corporation of China's Peak Power Load to Exceed 1.3 Billion kW This Summer, Up ~6% YoY] According to State Grid Corporation of China, this summer's maximum power load in its operating area was projected to exceed 1.3 billion kW, up approximately 6% YoY. To fully ensure safe power grid operation and reliable power supply, State Grid Corporation of China accelerated supply assurance capacity building, continued to improve market-based power trading, and promoted efficient utilization of clean energy. Currently, 168 key projects for peak summer power supply were under accelerated construction. (CCTV) The PBOC announced that, based on the demand of primary dealers in open market operations, the volume of the 7-day reverse repo operation on June 4 was zero. 101.3 billion yuan in reverse repos matured today. US dollar: As of 11:45, the US dollar index fell 0.04% to 99.5. According to the CME "FedWatch": the probability of the US Fed keeping rates unchanged through June was 98.4%, with a 1.6% probability of a cumulative 25 bps interest rate cut. The probability of the US Fed keeping rates unchanged through July was 90.2%, with an 8.4% probability of a cumulative 25 bps rate hike and a 1.4% probability of a cumulative 25 bps interest rate cut. US Fed's Logan stated that US Fed officials may need to raise interest rates later this year to bring inflation down to the 2% target. She noted that the US labour market was "broadly in balance," investment in artificial intelligence was booming, and financial conditions remained "accommodative." However, she added that the current inflation trajectory did not appear to be pulling back toward the US Fed's 2% target. "These conditions suggest that current monetary policy is not restraining the economy," "I am increasingly concerned that achieving a full restoration of price stability, while appropriately balancing both sides of the US Fed's dual mandate, may require raising interest rates later this year." The US Fed Beige Book noted that overall, prices rose at a moderate to strong pace, with most districts reporting inflation rates higher than in the previous report. Districts cited energy costs related to the Middle East conflict as a primary driver of inflationary pressures, with impacts extending to shipping, packaging, groceries, and fertilizers. Non-labour costs continued to rise faster than selling prices, raising broader concerns about margin compression. The ability to pass on higher costs varied across industries, particularly among consumer-facing companies. Some regions noted that enterprises across multiple areas had adopted strategies to cope with inflation, including supply chain optimization, product adjustments, reducing supply, and temporarily absorbing higher costs to maintain client demand. (Jin10 Data APP) Data: Data to be released today included US May Challenger enterprise layoffs, US initial jobless claims for the week ending May 30, US May Global Supply Chain Pressure Index, Eurozone April retail sales MoM, Switzerland May CPI MoM, and Switzerland May seasonally adjusted unemployment rate. In addition, at 2:00 the US Fed released the Beige Book on economic conditions, and 2026 FOMC voter and Dallas Fed President Logan delivered a speech. At 15:00, the Ministry of Commerce held the first regular press conference of June, and China's refined oil products entered a new round of price adjustment window. ECB President Lagarde delivered a speech, 2027 FOMC voter and Richmond Fed President Barkin participated in a fireside chat, and Bank of England Governor Bailey spoke at the Investment Association conference. Crude oil: As of 11:45, oil prices in both markets declined, with WTI down 0.94% and Brent down 1.03%. According to CCTV News, on local time June 3, US President Trump stated that negotiations with Iran were progressing very well and a new round of talks could be held this weekend. Once an agreement is signed, the Strait of Hormuz will immediately reopen. (Jin10 Data APP) Expectations of an end to Middle East conflicts put oil prices under pressure. Investinglive analyst Eamonn Sheridan stated that reports indicated Israel and Lebanon had reached a ceasefire framework agreement under US guidance, with both sides set to resume full talks during the week of June 22, contingent on Hezbollah's complete withdrawal from southern Lebanon. The geopolitical risk premium in the oil market will digest this headline and largely treat it as a priced-in factor. (Jin10 Data APP) The US-Iran conflict is pushing the global oil market toward a tipping point. US crude oil and petroleum product inventory has fallen to its lowest level in over two decades, while US crude oil exports hit a record high in May, rapidly depleting domestic reserves. Analysts warned that if the Strait of Hormuz remains closed, oil prices could surge significantly within weeks. According to data released by the US Energy Information Administration (EIA) on Wednesday, for the week ending May 29, total US crude oil and petroleum product inventory decreased by 10.6 million barrels from the previous week to 1.57 billion barrels, the lowest level since 2004 . Commercial crude oil inventory (excluding the Strategic Petroleum Reserve) fell by 8 million barrels in a single week to 433.7 million barrels, marking the sixth consecutive weekly decline, far exceeding analysts' prior expectations of 3.3 million barrels. (Wall Street Journal) Spot Market Overview: ► ► ► ► ► ► ► ► ► ►

Capacity side, according to incomplete statistics, China's alkaline electrolyzer market remained at 43.77 GW, and the PEM electrolyzer market remained at 2.7 GW. This week, Peric Hydrogen, a subsidiary of CSSC 718 Research Institute, exported customized integrated hydrogen production and refueling station equipment to Indonesia. Suzhou Suqing Hydrogen Production Equipment Co., Ltd. completed the shipment of a 5 MW containerized green electricity hydrogen production system, serving the first "five-in-one" integrated energy station project combining oil, gas, hydrogen, electricity, and storage in Northwest China. Project-related updates: CGN (Wuhai Hainan District) New Energy Co., Ltd. : CGN (Wuhai Hainan District) New Energy's hydrogen-based green fuel grid-connected green electricity direct-connection project (hydrogen production section) was officially registered. The project is located in the High-tech Low-carbon Industrial Park in Hainan District, Wuhai City, with a total investment of 313.6992 million yuan. The project plans to build a 22,000 Nm³/h hydrogen production facility, equipped with 22 alkaline water electrolysis units each with a capacity of 1,000 Nm³/h, along with supporting gas-liquid separation and hydrogen purification facilities, producing hydrogen with a purity of 99.999%. The construction period is scheduled from November 2026 to November 2028. Jiyuan (Siping) Green Energy Co., Ltd. : Jiyuan (Siping) Green Energy selected its affiliated party, State Nuclear Electric Power Planning Design & Research Institute, through public tender to undertake the EPC general contracting project for the hydrogen production facility, with a fixed contract price of 204.96 million yuan. The general contracting scope covers the design of the hydrogen production facility, procurement of equipment and materials excluding Party A-supplied electrolysis water complete sets of equipment and rectifier cabinets, civil construction, commissioning, operation and maintenance, and full-process warranty services, with qualified hydrogen output scheduled before August 30, 2027. Wojiang Clean Energy (Xinjiang Zhundong Economic and Technological Development Zone) Co., Ltd.: The general contracting contract for the Zhundong 2 billion m³/year coal-to-natural gas project was signed in Urumqi. The project is located in Changji Zhundong Economic Development Zone, with a total investment of 15.486 billion yuan. It is expected to commence production by the end of October 2026, with supporting output of multiple types of by-products. The project includes supporting electrolysis hydrogen production integrated with green methanol production, and plans a 650,000 mt/year CCUS carbon capture facility to be implemented in two phases, progressively achieving full green electricity coverage while simultaneously demonstrating large-scale crushed coal pressurized gasifiers to advance the scaling-up of coal-to-gas equipment. Da'an Jidian Green Hydrogen Energy Co., Ltd. : The Da'an wind and solar green hydrogen-to-ammonia integrated demonstration project issued a tender for additional equipment, planning to add one set of 1,000 Nm³/h alkaline electrolysis hydrogen production unit. The project broke ground in May 2023 and commenced production in July 2025, supported by 800 MW of wind and solar power capacity. It adopts a dual-route hydrogen production approach of 36,000 Nm³/h alkaline plus 9,600 Nm³/h PEM, with an annual output of 32,000 mt of green hydrogen and 180,000 mt of green ammonia, while simultaneously deploying two types of large-capacity hydrogen storage facilities using solid-state and organic liquid technologies. Longyuan Power Group Co., Ltd.: Longyuan Power announced the winning candidate for the procurement of 500 Nm³/h PEM electrolyzer equipment for the Zhangye Carbon Neutrality Industrial Base Wind-Solar-Hydrogen-Storage Integration Project. Dongfang Electric (Chengdu) Hydrogen Energy ranked first with a bid of 6.3 million yuan. The project is located in the Circular Economy Demonstration Park of Zhangye Economic Development Zone and is SPIC Gansu's first green electricity-to-hydrogen project. It plans to build a 22,000 Nm³/h alkaline hydrogen production main unit with supporting hydrogen storage tanks, and simultaneously construct a 2,000 Nm³/h hydrogen production pilot platform including a 500 Nm³/h PEM unit. Yanchang Petroleum Gas Group Transportation Energy Company: The hydrogen refueling demonstration station at the Fuping Service Area (North Zone) on the Beijing-Kunming Expressway, constructed by the company, successfully achieved mechanical completion and entered the commissioning phase. The station is a standardized Level 3 hydrogen refueling station equipped with an intelligent hydrogen refueling control system capable of automated operations and full-process monitoring and traceability. After commissioning, the station will primarily serve hydrogen-powered heavy trucks and intercity hydrogen buses, filling the gap in hydrogen refueling infrastructure along the Weinan section of the Beijing-Kunming Expressway and improving the hydrogen refueling network for the green freight loop from Hancheng to Fuping and Huangling. Guangdong Yuntao Hydrogen Energy Technology Co., Ltd.: Two major hydrogen energy projects of Yuntao Hydrogen Energy were launched. Its Beitai Road hydrogen refueling station was officially put into operation, becoming a new benchmark hydrogen refueling station in south China. The station is a supporting project for the Minke Park, benchmarked against the Liangtian model hydrogen refueling station. It covers an area of 3,100 m², is equipped with 4 hydrogen dispensers and 8 hydrogen refueling nozzles, with a maximum 24-hour refueling capacity of 4,000 kg, capable of serving 200 hydrogen-powered dump trucks or 400 cold chain logistics vehicles per day, further improving the vehicle hydrogen refueling network in the Greater Bay Area. Huawang (Qingdao) Hydrogen Energy Technology Group Co., Ltd. : The pre-award announcement for the hydrogen refueling station equipment procurement project of Qingdao Hydrogen Energy Industrial Park was released. Shanghai Hydrogen Maple Energy and Jiangsu Guofu Hydrogen Energy were listed as the top two candidates, with bids of 14.18 million yuan and 13.67 million yuan, respectively. The project was jointly tendered by Huawang (Qingdao) Hydrogen Energy and PetroChina Pipeline Bureau Engineering. The total project investment is 70 million yuan, with a construction cost of 14.5 million yuan. The project covers an area of 5,761 m² and plans to build a Level 3 hydrogen refueling station with a building area of 1,302 m², designed for a maximum daily 12-hour hydrogen refueling capacity of 2,500 kg, equipped with 4 units of 35 MPa hydrogen dispensers and 8 hydrogen refueling nozzles. This tender covers the full process including complete hydrogen refueling equipment, valves, automation, electrical supply, and on-site installation and commissioning. Huadian New Energy Group Co., Ltd. Fujian Branch: The Quanzhou Municipal Bureau of Ecology and Environment approved the environmental impact assessment document for Huadian Fujian's 5 MW flexible off-grid seawater hydrogen production technology research and pilot verification project. The project is constructed by Huadian New Energy Group Co., Ltd. Fujian Branch and is located at the No. 10 wind turbine site of Quanhui Wind Farm in Quanhui Petrochemical Industrial Park. As a seawater-to-hydrogen pilot project, it relies on two on-site wind turbines for power supply to conduct off-grid electrolysis seawater hydrogen production experiments. The project covers a total area of 1,683.80 m², with a total operation duration of 1,000 hours and a total investment of 18.7 million yuan, of which 1.681 million yuan is for environmental protection. The overall system consists of six major functional modules and supporting utilities. Policy Review 1. The National Development and Reform Commission (NDRC) and other departments issued a notice on the release of the Guidelines for Non-fossil Energy Electricity Consumption Accounting (Trial). The document states that coordination with energy statistics, carbon emission accounting, and other systems should be strengthened. Factors such as physical connections, electricity energy trading, and green electricity certificate and green electricity trading should be comprehensively considered to classify and clarify the rules for recognizing non-fossil energy electricity consumption and the accounting methods at the provincial (autonomous region, municipality directly under the central government, the same hereinafter) and municipal (prefecture-level) levels, as well as for electricity users. Recognition methods for non-fossil energy electricity consumption: Physical recognition. Self-generated and self-consumed electricity from non-fossil energy sources, and self-consumed electricity from new business models such as green electricity direct connection, are recognized as the non-fossil energy electricity consumption of the electricity user. Production electricity consumed by non-fossil energy power generation projects is recognized as the non-fossil energy electricity consumption of the respective power generation enterprise. Transaction recognition. This includes two recognition methods: electricity energy trading (including conventional non-fossil energy electricity trading, green electricity trading, etc., the same hereinafter) and green electricity certificate trading (including green electricity certificate transfers, etc., the same hereinafter). 2. The Jilin Provincial Energy Bureau and the Jilin Provincial Development and Reform Commission jointly issued a notice on the Implementation Plan for Accelerating the Integrated and Converged Development of New Energy in Jilin Province. Overall objectives: By 2030, integrated and converged development will become an important approach for new energy development across the province. New scenarios featuring integration and convergence will continue to emerge. The province's new energy development models will be more flexible, consumption pathways more diversified, application scenarios more abundant, and the electricity market more dynamic. More than 50 integrated and converged projects and application scenarios will be completed, providing strong support for the comprehensive green transformation of the province's economic and social development. 3. The Guangdong Provincial Administration for Market Regulation issued a public notice soliciting opinions on the Guangdong provincial local standard Operational Specifications for Integrated Hydrogen Production, Storage, and Refueling Devices (Review Draft). The document states that this standard specifies the basic requirements, personnel management, equipment and facility management, hydrogen quality management, hydrogen refueling operation management, safety management, archive management, and data recording for the operation of integrated hydrogen production, storage, and refueling devices. Enterprise Updates Tianji Hydrogen Energy Technology (Beijing) Co., Ltd. : Tianji Hydrogen Energy successively signed agreements with Jiaqing New Energy and Manst Hydrogen Energy. The three parties will conduct in-depth industry chain cooperation in green hydrogen equipment and project development. According to the agreements, the parties will cooperate in multiple dimensions including electrolyzer and post-processing system procurement, joint project bidding, and agency sales. They will also establish strict intellectual property protection and exclusive collaboration mechanisms to ensure the stability and competitiveness of cooperative projects, and jointly tackle hydrogen energy application challenges across multiple scenarios. SPIC Green Energy Co., Ltd.: Huang Qiang, Secretary of the Jilin Provincial Party Committee, conducted a survey on major project construction in Changchun and Siping. He emphasized the need to fully implement the important instructions of General Secretary Xi Jinping regarding work in Jilin, focus on building a modern industrial system and modern infrastructure system, and accelerate the advancement of major project construction. Jiangsu Trina Green Hydrogen Technology Co., Ltd. : Trina Green Hydrogen signed a strategic cooperation agreement with the Nanjing Institute of the Fifth Electronics Research Institute of MIIT. The two parties will focus on the urgent needs for high-quality development of the PV+ESS+hydrogen industry, and conduct in-depth collaboration across five major areas: joint construction of a comprehensive PV+ESS+hydrogen testing platform, joint research on cutting-edge technologies, product detection and evaluation, industry standard development, and full-chain industrial technology services. Through the strong alliance model of "industry leader + authoritative scientific research and detection institution," they aim to address the shortcomings in PV+ESS+hydrogen equipment testing and verification. Enric (Bengbu) Compressor Co., Ltd. : Two large skid-mounted hydrogen pipeline compressors independently designed and with core technologies self-developed by the company successfully completed factory acceptance testing and were officially shipped for delivery. The equipment will support China's first long-distance green hydrogen transmission pipeline project. China Southern Power Grid Power Technology Co., Ltd.: The company completed core technology breakthroughs for long-endurance hydrogen-powered drones and successfully conducted pilot applications in mountain power grid inspection scenarios at the Meizhou Power Supply Bureau of Guangdong Power Grid. Wuhu Shipyard (Wuhu Shipyard Co., Ltd. : The Tongzhouwan site at Wuhu Shipyard's Nantong base completed the semi-submersible float-off launching of the vessel "18515." The vessel is an 18,500-deadweight-tonnage methanol dual-fuel high-end chemical tanker and is the first vessel in the series. It has a total length of 149.8 meters, a design speed of 14 knots, and can use methanol as clean fuel. This launching cleared a key step in standardized construction and will help promote local shipbuilding industry development. Zhangjiagang Port Group Co., Ltd. : The first round of bidding for Zhangjiagang Port's 10 hydrogen fuel cell tractor project had only two valid suppliers, failing to meet the bid opening requirements. The procurement method was changed to negotiated procurement. This procurement involves 10 units of 45 kN hydrogen fuel cell tractors, including 1 unit with intelligent assisted driving, for intra-port transfer operations and required to be compatible with existing flatbed trailers. Taiyuan Public Transport Holdings (Group) Co., Ltd. : The company selected a local gas supply service provider through merit-based evaluation to ensure daily hydrogen supply for 6 hydrogen-powered buses, with unit price settlement based on actual gas consumption. The supplied hydrogen must comply with the GB/T3634.2-2011 high-purity hydrogen standard. The service provider is required to deploy fixed hydrogen refueling stations in Taiyuan, prioritize emergency hydrogen refueling for public buses, implement one-card-per-vehicle hydrogen refueling management, with a project service period of two years. Lanzhou Lanshi Petroleum Equipment Engineering Co., Ltd.: The second-generation 45 MPa ionic liquid hydrogen compressor and 22 MPa hydraulic-driven piston hydrogen compressor, customized for a domestic energy station, successfully completed all testing procedures including boost commissioning and electrical control system joint debugging. 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 an Fe-Ni-Mo ternary non-precious metal catalyst formulation with activity approaching that of platinum-based materials. Technology Footprint/Technical Specifications 1. The team led by Professor Li Zhipeng from Northwestern Polytechnical University innovatively constructed a three-dimensional multi-physics coupling model for tubular solid oxide fuel cells, systematically revealing the quantitative effects of temperature, electrode thickness, porosity, and oxygen domain geometric parameters on battery output performance. 2. The National Hydrogen Energy Power Quality Inspection and Testing Center of China Automotive Engineering Research Institute completed and commercially opened a 0–400 kW hydrogen-involved loaded tri-axial vibration testing platform, addressing the shortcomings in large power hydrogen-involved multi-physics coupling testing in China. 3. The high specific power cathode-closed air-cooled fuel cell stack technology developed by the team of Academician Chen Zhongwei and Associate Researcher Zhang Meng from the National Key Laboratory of Energy Catalytic Conversion at the Dalian Institute of Chemical Physics passed the scientific and technological achievement appraisal by the China Petroleum and Chemical Industry Federation. This technology effectively resolves 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, membrane drying and flooding, and high-power thermal management. 4. Two group standards on hydrogen production by water electrolysis were officially released and implemented: Technical Specifications for Safety of Hydrogen Production by Water Electrolysis and Accounting Methods for Economic Operation Indicators of Hydrogen Production by Water Electrolysis. 5. Petronor and H2SITE collaborated to advance membrane technology for hydrogen production, improving high-purity hydrogen and low-carbon efficiency in refining. 6. Dalian University of Technology designed an electron pump catalyst with an asymmetric photo-responsive structure, maintaining the asymmetry of electron distribution.