On March 11, 2026, Fuzhou Public Transport Group, the largest public transportation operator in Fujian Province by scale, signed a strategic cooperation framework agreement with CATL in Ningde, Fujian. The two parties will join hands to explore new development paths for the second half of the public transport electrification journey. This cooperation will focus on four core areas: bus battery aftermarket services, urban battery swap network construction, battery recycling and utilization, and vehicle-to-grid (V2G) technology. Addressing the challenges of charging efficiency and battery life following the large-scale deployment of electric buses will be a key focus of the collaboration between the two parties.

Capacity side, the domestic alkaline electrolyzer market maintained at 43.77 GW, and the PEM electrolyzer market remained at 2.7 GW, with no new capacity added. No offline public delivery information was available this week. Electrolyzer project updates: Yulin Institute of Clean Energy Innovation, Chinese Academy of Sciences : The institute issued a tender for the procurement of megawatt-scale alkaline electrolyzers and hydrogen-oxygen separation and purification modules. The procurement includes megawatt-scale alkaline electrolyzers and hydrogen-oxygen separation and purification equipment, with a budget of 3.18 million yuan. The equipment will be used for a hydrogen production project from coal chemical wastewater coupled with freshwater production. It is understood that Dalian Chemical Engineering Design Institute Co., Ltd. previously won the bid for the project design. Inner Mongolia Green Hydrogen Steel Union Technology Co., Ltd.: The company announced the winning bidder for the civil engineering part of Sections 1 and 2 of the construction project for the full green steel production line integrating green electricity-green hydrogen shaft furnace reduction-electric furnace short process. It is understood that both sections were won by China Railway Construction Bridge Engineering Bureau Group Fourth Engineering Co., Ltd. (including consortium partner: Tianjin Tianhengda Environmental Protection Engineering Co., Ltd.). Shanghai Reshaping Energy Group Co., Ltd. : Reshaping Energy and China MCC5 Group Corp., Ltd. recently formally partnered by signing a cooperation agreement, establishing a comprehensive partnership. Additionally, both parties jointly signed a cooperation memorandum for the Ningxia Sun Mountain Integrated Wind-Solar-Hydrogen-Methanol Project. Moving forward, the two parties will collaborate to promote the construction of hydrogen production projects using wind and solar renewable energy, and coordinate with relevant parties to advance the construction of green methanol synthesis projects, aiming to create a benchmark "green electricity-green hydrogen-green methanol" industry chain project in north-west China. SPIC : The list of prospective winning bidders for the 99th centralized tender in 2025 (Jilin Power Share Lishu Wind-Solar Green Hydrogen Production and Biomass Coupled Green Methanol Project PEM Water Electrolysis Hydrogen Production Equipment) was announced. The first prospective winning bidder: Changchun Green Dynamic Hydrogen Energy Technology Co., Ltd., with a bid price of 30.88 million yuan; the second prospective winning bidder: Shaanxi Xingran Technology Co., Ltd., with a bid price of 36.4265 million yuan. It is understood that the Jilin Power Share Lishu Wind-Solar Green Hydrogen Production and Biomass Coupled Green Methanol Project is located in Siping City, Jilin Province, and plans to construct one set of 2000 Nm³/h PEM water electrolysis hydrogen production system, with a PEM hydrogen production scale of 2000 Nm³/h. The project is scheduled to start construction in August 2025, with a total planned duration of 22 months. The tender scope includes the PEM water electrolysis hydrogen production system and auxiliary systems, including but not limited to 4 PEM hydrogen production electrolyzers each with a measured hydrogen production rate of 500 Nm³/h under rated conditions, one set of 2000 Nm³/h hydrogen purification skid, and 4 sets of IGBT rectifiers. Windey Energy Technology Group Co., Ltd.: The tender for the biomass gasification process package and technical services for the first phase of the Handan Biomass Green Methanol Project was released. The project's main entity is Windey Energy Technology Group Co., Ltd. It is understood that the project primarily adopts the biomass pressurized bubbling fluidized bed gasification process. The scope of the process package extends from the atmospheric raw material receiving hopper of the gasification framework to the outlet of the syngas scrubber, includes the ash and slag discharge unit, and involves the discharge of wastewater after ammonia stripping treatment. Goldwind Green Chemical (Xing'an League) Co., Ltd.: The acceptance of the environmental impact assessment documents for the Goldwind Xing'an League Green Hydrogen to Green Methanol (Phase II) Project was announced. It is understood that the project has a total investment of 1.2 billion yuan, with a planned construction period from December 2025 to December 2027. The construction scale and content include primarily building main production facilities such as biomass gasification and methanol synthesis and distillation, along with supporting public and auxiliary utilities, aiming for an annual production of 600,000 mt of green methanol. Zhongneng Yida (Hebei) New Energy Co., Ltd.: The EPC general contracting tender announcement (second call) for the new 400,000 mt/year sustainable aviation fuel hydrogenation project. It is understood that the project covers an area of approximately 230 mu. The construction project includes a 400,000 mt/year sustainable aviation fuel hydrogenation unit, supporting hydrogen production facilities with a capacity of 30,000 Nm³/h, a sulfur recovery combined unit, and main supporting utilities. The primary raw materials are gutter oil, acidified oil, fatty acid methyl ester, and waste animal and vegetable oils, used to produce biodiesel, bio-naphtha, bio-jet fuel, and other products, with by-products including dry gas, bio-liquefied petroleum gas, and sulfur. The annual production volumes are bio-jet fuel (315,700 mt), bio-naphtha (21,000 mt), biodiesel (maximum daily production of 340,800 mt), and other by-products: dry gas (7,900 mt), bio-liquefied petroleum gas (19,500 mt), and sulfur (72 mt). Inner Mongolia Hydroelectric Technology Co., Ltd.: Its Dalad Banner Grid-Side (Incremental Distribution Network) Standalone Energy Storage Demonstration Project has completed the modification filing. The project construction content is now modified as follows: The total project investment is 153.332 million yuan, funded from two sources: self-owned funds of 45.9996 million yuan and a bank loan of 107.3324 million yuan. Regarding construction content and scale, the total energy storage capacity is set at 2 MW/4 MWh, adopting a pure hydrogen energy storage solution. Specifically, the hydrogen energy storage system encompasses three major segments: water electrolysis for hydrogen production, energy storage, and hydrogen fuel cell power generation. It is configured with 12 sets of 1,000 Nm³ alkaline electrolyzers, 2 sets of 1 MW hydrogen fuel cell power generation systems, and a 90,000 Nm³ hydrogen storage system. Each electrolyzer unit consists of the electrolyzer body, purification framework, gas-liquid separation device, and power supply and electrical control system. Each 1MW hydrogen fuel cell power generation system uses 16 proton exchange membrane fuel cell modules, each with a rated power of 100KW, as the core energy supply units. The hydrogen storage system comprises a spherical tank hydrogen storage system with a capacity of 2,000 cubic meters and a pressure of 1.6 MPa, requiring a total of three hydrogen storage tanks. Jinfeng Green Energy Chemical (Xing'an League) Co., Ltd. : Jinfeng Xing'an League Green Hydrogen to Green Methanol (Phase III) Project has been filed. Construction Location: Xing'an League - Ulanhot City - Xing'an League Economic and Technological Development Zone. Total Investment: 2.3 billion yuan, including self-owned funds: 460 million yuan, and bank loan application: 1.84 billion yuan. Planned Construction Period: May 2026 to May 2028. Construction Scale and Content: Mainly involves building key production facilities such as biomass gasification and methanol synthesis and distillation, along with supporting public and auxiliary facilities, with an annual output of 725,000 mt of green methanol. Shanghai Electric Power Station Group: Successfully won the bid for Section 1 of the EPC project for the Lanzhou New Area 100,000 mt/year Biomass Green Methanol Project (Phase I), and will provide key technologies, core equipment, and EPC turnkey services. Previously, Shanghai Electric had successfully verified its self-developed entire industry chain technology system for "green electricity coupled with biomass gasification to produce green methanol" in the Jilin Taonan Green Methanol Integrated Demonstration Project. Policy Review 1. The Gansu Provincial Development and Reform Commission, Gansu Provincial Department of Industry and Information Technology, and Gansu Provincial Energy Bureau issued the "Gansu Provincial Zero-Carbon Park Construction Plan." The document points out that organic integration of solar, wind, geothermal, and air energy should be used for direct building energy supply; relying on technologies such as wind and solar power plus energy storage and hydrogen microgrids, heat pumps, and molten salt thermal storage, the park's multi-energy conversion and mutual utilization of "electricity, heat, cooling, steam, and hydrogen" should be enhanced. Vigorously develop green and low-carbon emerging industries. Promote breakthroughs in core technologies for wind, solar, and energy storage equipment, improve the localization rate of new energy equipment, and build a new energy equipment industry chain driven by a "high proportion of green electricity." Support the construction of projects for the wind and solar power coupled green hydrogen production and hydrogen energy storage industry chain, advance the integrated development of "green hydrogen production, storage, transportation, refueling, and utilization," and create a "wind-solar-hydrogen-methanol-ammonia" zero-carbon industry chain. Guide the coordinated development of computing power projects and clean energy layout, increase the proportion of green electricity supply for data centers, and build a "computing power + green electricity" digital economy industry chain. 2. The Jilin Provincial Energy Bureau issued the "Jilin Province Green Electricity Direct Connection Project Development and Construction Implementation Plan (Trial)" (Draft for Comments).. The document indicates that new load projects can carry out green electricity direct connection, with key support for hydrogen-based green energy (green hydrogen, green hydrogen to green ammonia, green hydrogen to green methanol, green hydrogen to sustainable aviation fuel, etc.), steel metallurgy, computing (data) centers, automotive manufacturing, and other industries. Electricity consumption projects that have not been registered with the power grid enterprise (including expansion parts of existing loads), electricity consumption projects that have been registered but whose supporting power grid projects have not yet commenced construction, and existing projects agreed upon through consultation with the power grid enterprise are all considered as new loads. In principle, new loads (including expansion parts of existing loads) and existing loads should not establish direct electrical connections. 3. The European Commission approved a €4 billion special fund for electrolyzers, providing a 30% subsidy on equipment costs for projects with an annual capacity of ≥500 MW, and set a 2030 efficiency target for green hydrogen project electrolyzers of ≥60% (LHV basis). Enterprise Dynamics Shanghai Qingluan Energy Co., Ltd. : Shanghai Qingluan Energy Co., Ltd. was established, with legal representative Li Kun and registered capital of 5 million yuan. Its main business includes the manufacturing and sales of gas and liquid separation and purification equipment. The company is 100% owned by Shanghai Qingluan Technology Co., Ltd. Xinjiang Zhiling Hydrogen Equipment Manufacturing Co., Ltd. : The launch ceremony for the delivery and experience event of hydrogen energy buses, jointly organized with Skywell New Energy Automobile Group Co., Ltd., was held at the Guangbao Guangzhou Technology Park in Huangpu District, Guangzhou. Following the successive winning of related projects in November and December last year, HTWO Guangzhou, in collaboration with Skywell Group, delivered 249 hydrogen fuel cell buses in bulk to Guangzhou Bus Group. Shaanxi Hydrogen Energy Industry Development Co., Ltd. : Signed a strategic cooperation framework agreement with the Baoji Municipal Government. The Baoji Municipal Government will take this signing as an opportunity to provide comprehensive support for project construction, fully promote project implementation and effectiveness, and ensure smooth project advancement with high-quality services. Zhongtian Hua Hydrogen Co., Ltd.: Successfully won a bid for an overseas hydrogen valley project, achieving a "zero breakthrough" in overseas business, marking substantial progress in its internationalization strategy. Hubei Intelli Electric Co., Ltd. : Successfully delivered several sets of large containerized power supply systems, all of which will be used for a shore power project. HydrogenT Energy Group: Its "Fuel Cell Engine (TK-300)" project successfully passed the certification for Shanghai High-Tech Achievement Transformation Project and received an A-grade evaluation. Weishi Energy Technology Co., Ltd.: In collaboration with Yutong Light Truck, completed a series of multi-dimensional, complex working condition vehicle-level verifications, comprehensively validating the reliability and environmental adaptability of Weishi Energy's 80 kW hydrogen fuel cell system under complex environments such as low temperature, high altitude, transient load, emergency stop, and steep slopes. The Hong Kong and China Gas Company Limited (Towngas): Signed a memorandum of cooperation with Sinopec (Hong Kong) Limited (Sinopec Hong Kong) and Sinopec Star Petroleum Co., Ltd. (Sinopec Star), establishing a strategic partnership to engage in in-depth cooperation on clean energy, including hydrogen, green methanol, and sustainable aviation fuel (SAF). Patent Applications 1. Shanghai Institute of Ceramics, Chinese Academy of Sciences (China) disclosed patent CN2025110028, developing ceramic-based anion exchange membranes with a laboratory test lifespan reaching 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 that of platinum-based materials. Technology Footprints/Technical Specifications 1. The team led by Liu Qingju at Yunnan University constructed a superwetting Pt/NF@CF graded heterojunction electrocatalyst for low-energy, high-efficiency hydrogen production. 2. Hunan Normal University and Central South University's AM team revealed the compressive strain and oxygen vacancy effects of iridium oxide in proton exchange membrane water electrolyzers. 3. The relevant research team from the School of Electrical Engineering and the State Key Laboratory of Electrical Insulation and Electrical Engineering Materials at Xi’an Jiaotong University successfully developed a Ru/Ti3C2Ox@NF bifunctional seawater electrolysis electrocatalyst. 4. The group standard "Technical Specification for Wind and Solar Power Green Electricity Coupling Electrolysis Hydrogen Production" (No. T/CIEP 0272—2025) was released and implemented by the China Industrial Environmental Protection Promotion Association. Zhongneng Dayou Energy Technology Co., Ltd. successfully developed a 100kW-class PEM electrolyzer hydrogen production multi-field coupling test equipment. 5. GKN Powder Metallurgy announced the development of a new generation of high-performance, high-porosity, high-purity porous transport layers (HP-PTL) for proton exchange membrane (PEM) electrolysis.

Recently, the European hydrogen equipment giant Hexagon Purus officially announced the sale of 100% equity in the aerospace business of its subsidiary Hexagon Masterworks Inc. (abbreviated as "Masterworks") to the commercial space giant SpaceX, owned by Elon Musk, for approximately $15 million. This transaction signifies Hexagon Purus's further focus on its core hydrogen energy business, while SpaceX strengthens its layout in key segments of the space supply chain. The transaction amount is clearly detailed, totaling approximately $15 million, and is specifically composed of two parts: first, upon completion of the closing, SpaceX will pay $12.5 million in cash; second, the remaining $2.5 million will be paid in cash or cash equivalents, subject to applicable closing conditions and industry practices. It is understood that Masterworks's core business focuses on the R&D and manufacturing of high-pressure composite gas cylinders for the aerospace sector, while also engaging in hydrogen energy vehicle-related products in the North American market, with mature expertise in high-pressure composite technology. Hexagon Purus explicitly stated that to protect the interests of hydrogen energy business clients, all existing hydrogen energy client contracts of Masterworks will be gradually transferred to other hydrogen energy-related business units under Hexagon Purus before the transaction is completed, ensuring smooth business transition without affecting client cooperation and performance. As a globally leading hydrogen energy equipment enterprise, Hexagon Purus's core development focus is to achieve zero-emission mobility and build a cleaner energy future. Its core products include Type IV high-pressure hydrogen cylinders and systems, battery systems, as well as vehicle integration solutions for fuel cell EVs and pure EVs. These are widely applied across various scenarios, covering light-duty, medium-duty, and heavy-duty vehicles, buses, ground energy storage, hydrogen distribution, hydrogen refueling stations, maritime, railway, and aerospace sectors. The sale of Masterworks's aerospace business is a key measure by Hexagon Purus to advance its portfolio optimization. It aims to divest non-core assets, improve financial conditions, extend cash flow sustainability, and concentrate more resources on core strategic directions such as high-pressure hydrogen storage tanks and hydrogen system integration, further consolidating its leadership in the global zero-emission mobility solutions sector. For SpaceX, Masterworks's high-pressure composite gas cylinder technology precisely meets its urgent need for high-performance, lightweight high-pressure tanks in the development of large launch vehicles like Starship and future space systems. This acquisition will help SpaceX enhance its vertical integration capabilities in the space supply chain and reduce dependence on external suppliers.

Capacity side, according to incomplete statistics, the domestic alkaline electrolyzer market maintained at 43.77 GW, and the PEM electrolyzer market maintained at 2.7 GW, with no new capacity added for the time being. No offline public delivery information was available this week. Electrolyzer project updates: Inner Mongolia Huadian Huayang Hydrogen Energy Technology Co., Ltd.: The tender announcement for the survey and design services of the wind, solar, energy storage, and hydrogen components of the Inner Mongolia Huadian Damao Banner 1,000 MW wind-solar-hydrogen integration project was released. It is understood that the project is located in Damao Banner, Inner Mongolia Autonomous Region. The project involves the construction of 1,000 MW of new energy power generation, comprising 700 MW of wind power and 300 MW of PV power. It includes the installation of 70 wind turbine generators with a unit capacity of 10 MW, 614,770 pieces of 610Wp half-cell bifacial N-type modules, two 220 kV booster stations and access roads, and the construction of one 100 MW/200 MWh LFP battery ESS power station. Additionally, it involves the construction of 88 sets of 1,000 Nm³/h water electrolysis hydrogen production units and supporting equipment, with an annual hydrogen production capacity of 547 million Nm³. The project includes 25 hydrogen spherical tanks of 2,000 cubic meters each, providing a hydrogen storage capacity of 650,000 Nm³, and the construction of one 220 kV hydrogen production main step-down station and other facilities and equipment. CECEP Green Hydrogen Ammonia New Energy (Songyuan) Co., Ltd.: Good news came from the CECCE Songyuan Hydrogen Energy Industrial Park (Green Hydrogen-Ammonia-Methanol Integration) project. Since its official commissioning on December 16, 2025, the project's cumulative green ammonia production has exceeded 10,000 mt. Zhonggu (Otog Front Banner) New Energy Co., Ltd. : The land pre-examination and site selection opinion certificate for the CECEE Otog Front Banner Wind-Solar-Hydrogen Integration Project was approved by the Ordos Municipal Bureau of Natural Resources. It is understood that the project is located in Chengchuan Town and Aolezhaoqi Town, Otog Front Banner, Ordos City, with a total investment of 1.1527 billion yuan and a total land area of 5.7253 hectares. The construction content involves a new wind farm area, which includes 48 wind turbine generators with a unit capacity of 6.25 MW, a new 220 kV booster station, and an access road. China Coal Pingshuo Group Co., Ltd. : The tender for the alkaline electrolyzer package equipment and ancillary facilities for the Phase I 600,000 kW off-grid renewable energy hydrogen production project in the coal mining subsidence area of China Coal Pingshuo Group (Green Hydrogen Coupling with Coal Chemical Industry section) was released. It is understood that this tender includes 12 × 1,200 Nm³/h alkaline electrolyzers, 3 × 4,800 Nm³/h gas-liquid separation systems, 3 × 4,800 Nm³/h gas purification systems, along with supporting electrical instruments and spare parts, etc. The supply scope covers the design, manufacturing, factory acceptance, supply packaging, shipment, and delivery on board the truck at the site for all equipment. The project adopts a primary and auxiliary supply model. Main Supply: Includes 8 alkaline electrolyzers of 1,200 Nm³/h each, collectively supporting 2 sets of gas-liquid separation systems (4,800 Nm³/h each), 2 sets of gas purification systems (4,800 Nm³/h each), and other auxiliary facilities. Auxiliary Supply: Includes 4 alkaline electrolyzers of 1,200 Nm³/h each, collectively supporting 1 set of gas-liquid separation system (4,800 Nm³/h), 1 set of gas purification system (4,800 Nm³/h), and other auxiliary facilities. Sikage (Hebei) Hydrogen Energy Technology Co., Ltd.: The Sikage Hydrogen Energy Ecosystem Chain Project (Phase I) 8,000 mt electrolytic water hydrogen production project has been filed. The project's main entity is Sikage (Hebei) Hydrogen Energy Technology Co., Ltd. (established on December 29, 2025). Construction Location: Anci District, Langfang City, Hebei Province. Technical Route: Electrolytic water hydrogen production, including alkaline electrolytic water hydrogen production, proton exchange membrane electrolytic water hydrogen production, and 10 MW solid oxide electrolytic water hydrogen production. The annual hydrogen production capacity is 8,000 mt. Phase I will construct 200 MW wind power generation and ESS green electricity direct connection (off-grid type), achieving green hydrogen production from green electricity. Hebei Haite Weiye Petrochemical Co., Ltd.: The 2 million mt/year residue oil deep processing project has been filed. Construction Location: Huanghua City, Bohai New Area, Cangzhou City, Hebei Province. Total Investment: 1.594 billion yuan. It is reported that the project will construct a 2 million mt/year residue oil deep processing unit; a 1 million mt/year fuel oil desulfurization unit; a 20,000 Nm³/h dry gas hydrogen production unit; and a 100,000 mt/year sulphuric acid combined unit. Annual production includes liquefied petroleum gas (10,000 mt), isobutane (10,000 mt), propane (9,600 mt), etc. Hydrogen production is 30,000 Nm³/h. The hydrogen production route adopts the dry gas hydrogen production process. Yunnan Energy Research Institute Co., Ltd.: Announcement of winning candidates for the procurement of hydrogen production power supply equipment for the Key Technology Research Project on Control of Renewable Energy Electrolytic Water Hydrogen Production System. According to the announcement: The first winning candidate is Beijing Leidong Zhichuang Technology Co., Ltd., with a bid price of 760,000 yuan/tax included; the second candidate is Hubei Intelli Electric Co., Ltd., with a bid price of 650,000 yuan/tax included; the third candidate is Baoding Hongri Electric Co., Ltd., with a bid price of 799,000 yuan/tax included. It is reported that the project intends to procure 1 dry-type transformer, 1 IGBT rectifier power supply, 1 DC/DC converter, and 1 set of EMS energy management system, with the above power supplies integrated into one container. Fengqing Hydrogen Energy (Guizhou) Technology Co., Ltd. : Fengqing Hydrogen Energy (Guiyang Duyun Base) has launched the tender for civil construction of its Green Hydrogen Zero-Carbon Smart Park project, marking the official commencement of the project's implementation phase. The project is expected to achieve an annual production capacity of 10,400 mt of electrolytic water hydrogen production, with supporting construction including a green hydrogen plant, storage and transportation area, hydrogen energy detection center, and comprehensive energy station facilities. The hydrogen production plant is subdivided into five hydrogen production units: the first unit is equipped with 5 sets of 1,000 Nm³ electrolyzers, 5 sets of 1,000 Nm³/h gas-liquid separation devices, and 1 set of 5,000 Nm³/h purification device; the second and third units each contain 4 sets of 1,000 Nm³/h electrolyzers, 1 set of 4,000 Nm³/h gas-liquid separation device, and 1 set of 4,000 Nm³/h purification device; the fourth unit (as a backup) is configured with 6 sets of 1,000 Nm³/h electrolyzers, 6 sets of 1,000 Nm³/h gas-liquid separation devices, and 1 set of 6,000 Nm³/h purification device; the fifth unit adopts PEM technology with a capacity of 200 Nm³/h. Shandong Shankerongfa Pilot Base Co., Ltd. : Shankerongfa is advancing the procurement of cost consulting services for the 20,000 mt per year integrated green hydrogen-methanol demonstration project. The project is located in the Rizhao Haiyou Chemical Industry Park in Ju County, Rizhao City, Shandong Province. Its core construction involves a set of integrated green methanol production equipment with an annual capacity of 20,000 mt and its supporting facilities. This integrated green methanol production equipment covers multiple key production stages, including biomass grinding and gasification devices, syngas purification devices, green electricity electrolysis hydrogen production devices, methanol synthesis and distillation devices, etc. In the production process, the project uses biomass as the raw material, going through a series of steps including biomass gasification, syngas purification, green hydrogen production via green electricity, methanol synthesis, and distillation, ultimately producing green methanol. In terms of energy and raw material consumption, the project annually consumes approximately 100 million kWh of green electricity and about 30,000 mt of biomass. Anhui Yousai Technology Co., Ltd.: The Gucheng Economic Development Zone in Hengshui City signed a cooperation framework agreement with Anhui Yousai Technology Co., Ltd. for a 300 MW wind power hydrogen production project. Lanzhou New Area Nengke Ecological Development Co., Ltd.: The EPC general contracting winning candidates were announced for the Lanzhou New Area 100,000 mt/year biomass green methanol project (Phase I). The top winning candidate is the consortium led by Shanghai Electric Group Guokong Global Engineering Co., Ltd. (members: China Chemical Engineering Fourteenth Construction Co., Ltd., China Chemical Engineering Ninth Construction Co., Ltd., Shanxi Installation Group Co., Ltd.) with a bid of 959.06 million yuan. Section 2 was invalidated due to insufficient bidders (less than three). It is understood that the project's main production equipment includes biomass gasification to syngas units, shift and purification, compression, methanol synthesis, methanol distillation, 200 MW PV power generation (PV power generation and lines are not included in this tender) and water electrolysis for hydrogen production, etc. Policy Review 1. The Gansu Provincial Development and Reform Commission, the Gansu Provincial Department of Industry and Information Technology, and the Gansu Provincial Energy Bureau issued the "Gansu Province Zero-Carbon Park Construction Plan."The document pointed out that organically integrating solar, wind, geothermal, and air energy to directly supply buildings with energy, and relying on technologies such as wind-solar-hydrogen-storage microgrids, heat pumps, and molten salt thermal storage, will enhance the multi-energy conversion and mutual utilization of "electricity, heat, cooling, steam, and hydrogen" in industrial parks. It will vigorously develop emerging green and low-carbon industries, promote breakthroughs in core technologies for wind, solar, and ESS equipment, increase the localization rate of new energy equipment production, and build a "high-proportion green electricity-driven" new energy equipment industry chain. It will support the construction of projects for wind-solar coupled green hydrogen production and hydrogen energy storage industry chains, advance the integrated development of "green hydrogen production, storage, transportation, refueling, and utilization," and create a "wind-solar-hydrogen-methanol-ammonia" zero-carbon industry chain. It will guide the coordinated development of computing power projects and clean energy layout, increase the proportion of green electricity supply in data centers, and build a "computing power + green electricity" digital economy industry chain. 2. The Jilin Provincial Energy Bureau issued the "Implementation Plan for the Development and Construction of Green Electricity Direct Connection Projects in Jilin Province (Trial)" (Draft for Comments). The document indicated that new load projects can carry out green electricity direct connections, with key support for hydrogen-based green energy (green hydrogen, green hydrogen to green ammonia, green hydrogen to green methanol, green hydrogen to sustainable aviation fuel, etc.), steel metallurgy, computing power (data) centers, automotive manufacturing, and other industries. Electricity consumption projects that have not registered with grid companies (including expansion parts of existing loads), projects that have registered but whose supporting grid projects have not yet started construction, and existing projects agreed upon through consultation with grid companies are all regarded as new loads. In principle, new loads (including expansion parts of existing loads) and existing loads should not have direct electrical connections. 3. The European Commission approved a €4 billion electrolyzer special fund, providing a 30% subsidy on equipment costs for projects with an annual capacity of ≥500MW, and set a 2030 efficiency target for green hydrogen project electrolyzers at ≥60% (LHV basis). Corporate Updates CRRC Zhuzhou Institute Co., Ltd. : The green electricity hydrogen production equipment laboratory successfully obtained both CNAS and CMA certifications. As the first domestic institution to receive this dual certification, its water electrolysis hydrogen production system testing capacity reached 26MW, leading among similar certified institutions in China. Hyundai Motor Hydrogen Fuel Cell (Guangzhou) Co., Ltd. : The launch ceremony for the hydrogen energy bus delivery experience event, co-hosted with Skywell New Energy Automobile Group Co., Ltd., was held at the Guangbao Guangzhou Technology Park in Huangpu District, Guangzhou. Following the successful bidding for related projects in November and December last year, HTWO Guangzhou, in collaboration with Skywell Group, delivered 249 hydrogen fuel cell buses in bulk to the Guangzhou Bus Group. Cummins : Due to a significant deterioration in the market environment for hydrogen production technology, the US engine manufacturer Cummins announced that it will no longer engage in new electrolyzer commercial business. Mingyang Group : Mingyang Group, together with the Director of Vietnam's Xuan Qiao Group and Zhou Jiayi, Asia Pacific Regional General Manager of PowerChina International, gathered to reach a consensus on cooperation. The three parties will leverage the significant advantages of cross-border collaboration to jointly invest in and develop an energy project cluster. This cluster encompasses three core sectors: offshore wind power, green hydrogen and green ammonia, and zero-carbon industrial parks, with a substantial total scale, aiming to establish a new benchmark in the field of Sino-Vietnamese green transformation cooperation. Tianji Hydrogen Energy Technology (Beijing) Co., Ltd. : Lu Beiming, Chairman of Impex Group Co., Ltd., and Zhang Xiaolin, Deputy General Manager, visited the Changshu R&D and production site of Tianji Hydrogen Energy Technology (Beijing) Co., Ltd. for a field trip and exchange. Yuchai Xinlan (Jiangsu) Hydrogen Energy Technology Co., Ltd.: formally signed a strategic cooperation agreement with Hydrogen Green Power New Energy (Wuhan) Co., Ltd. The two parties will engage in in-depth cooperation regarding the full range of Yuchai hydrogen energy products, focusing on multi-scenario application development and market sales. Patent Applications 1. Shanghai Institute of Ceramics, Chinese Academy of Sciences (China) publicly disclosed patent CN2025110028, developing a ceramic-based anion exchange membrane with a laboratory test lifespan reaching 80,000 hours. 2. Johnson Matthey (UK) submitted patent WO2025109876, disclosing a Fe-Ni-Mo ternary non-precious metal catalyst formulation with activity close to that of platinum-based materials. Technology Footprints/Technical Specifications 1. The team of Liu Qingju from Yunnan University constructed a superwetting Pt/NF@CF graded heterojunction electrocatalyst for low-energy consumption, high-efficiency hydrogen production. 2. A team from Hunan Normal University and Central South University revealed the effects of compressive strain and oxygen vacancies on iridium oxide in proton exchange membrane water electrolyzers in Advanced Materials. 3. A relevant research team from the School of Electrical Engineering and the State Key Laboratory of Electrical Insulation and Electrical Materials at Xi'an Jiaotong University successfully developed a Ru/Ti3C2Ox@NF bifunctional electrocatalyst for seawater electrolysis. 4. The group standard "Technical Specification for Wind-Solar-Storage Green Electricity Coupled Electrolysis Hydrogen Production" (Number T/CIEP 0272—2025) was released and implemented by the China Industrial Association of Environmental Protection. Zhongneng Dayou Energy Technology Co., Ltd. successfully developed a 100kW-class PEM electrolyzer hydrogen production multi-field coupling test equipment. 5. GKN Powder Metallurgy announced the development of a new generation of high-performance, high-porosity, high-purity porous transport layer (HP-PTL) for proton exchange membrane (PEM) electrolysis.

On September 26, 2025, the General Office of the Hunan Provincial People's Government issued the "Hunan Province Action Plan for Accelerating the Improvement of the New Energy Vehicle Penetration Rate (2025–2026)," focusing on the promotion and application of NEVs and industrial upgrading. It explicitly proposed accelerating the construction of energy replenishment facilities such as hydrogen refueling stations. The core contents are as follows: I. Core Action Targets The core objective is to narrow the gap with the national NEV penetration rate, advancing in phases: By the end of 2025, the gap between the provincial NEV penetration rate and the national average is expected to narrow to within 6%. By the end of 2026, the aim is to reach the national average NEV penetration rate. II. Four Key Action Tasks (1) Consumer Environment Optimization Action Innovating Sales Models : Automakers are encouraged to develop products suited to local scenarios, explore diversified sales models such as leasing instead of purchasing and battery-swapping, and expand ecological cooperation. Improving the Service Network : Promote the establishment of delivery centers and authorized after-sales service sites at the county level and in remote areas, carry out after-sales services in rural areas, and address shortcomings in grassroots services. Extending the Consumption Chain : Standardize the used car market, strengthen battery recycling and leasing management, and enhance the residual value of NEVs. Strengthening Financial Support : Increase credit supply, introduce low-down-payment, long-term financial solutions tailored to younger groups, and optimize NEV insurance services. (2) Commercial Vehicle Replacement Action Public Sector Replacement : Focus on promoting the application of NEVs in public sectors such as buses, taxis, sanitation, and freight delivery, and support key cities for air pollution prevention and control in taking the lead in replacing vehicles in urban construction logistics. Truck Transformation Incentives : Using the phase-out of trucks meeting National IV and lower emission standards as a breakthrough, implement provincial fiscal support and introduce preferential expressway toll policies for new energy trucks. (3) Energy Replenishment Facility Enhancement Action (Including Key Construction of Hydrogen Refueling Stations) Urban Residential Charging Convenience : Implement "unified construction and service" for charging piles in residential areas, provide one-stop services for car purchase, electricity connection, and pile installation, and simplify the application process. Public and Dedicated Facility Support : Improve supporting policies for land use, power grid, and electricity prices for dedicated energy replenishment facilities such as those for buses and trucks, and encourage private capital participation in construction. Energy Replenishment Network Construction at Transportation Hubs : Accelerate the planning and construction of a batch of large power charging (battery swap) stations and hydrogen refueling stations in key areas such as expressway service areas, logistics parks, ports, along major logistics corridors, and national and provincial highways. ; Promote the renovation and expansion of eligible gas (CNG/LNG) stations into comprehensive energy supply stations offering "fuel (gas) + charging (battery swap)" services. Full Coverage of Rural Energy Replenishment : Incorporate charging piles into the "Village Access Project" to achieve full coverage of charging stations in every township and charging piles in every village, promoting the integrated development of energy replenishment facilities with PV systems, parking lots, and others. (IV) Enhanced Support Policy Actions Leveraging Fiscal Funds : Coordinate special funds from the central and provincial levels to implement trade-in and car-to-countryside policies, carry out NEV sales promotions, explore charging consumption subsidies, and encourage municipalities and prefectures to issue car purchase subsidies. Traffic Priority and Parking Incentives : Encourage municipalities and prefectures to grant NEVs traffic priority on core urban routes, along with benefits such as extended operating hours and parking fee reductions in public areas. III. Safeguard Measures Establish a dual-led working mechanism by the Provincial Development and Reform Commission (Provincial Energy Bureau) and the Provincial Department of Commerce, coordinating multiple provincial departments for collaborative advancement; require local governments to refine measures and ensure implementation, while intensifying policy publicity to eliminate misconceptions and foster a social environment supportive of NEV development. This plan is expected to include hydrogen refueling stations as key components of energy replenishment facilities in transportation hubs, advancing them in coordination with charging (battery swap) stations. This will effectively address the energy replenishment challenges for NEVs (particularly hydrogen-powered vehicles), providing solid support for increasing the NEV penetration rate and transforming the energy structure in Hunan.

[Cui Dongshu of the Passenger Vehicle Association: NEV price reductions averaged 12% in H1] From January to June 2025, the average price reduction for new NEV models reached 23,000 yuan, equivalent to a 12% decrease. In June, the average price reduction for new NEV models dropped to 15,000 yuan, representing a relatively low 10.4% reduction. During the same period, conventional internal combustion engine vehicles saw an average price reduction of 17,000 yuan (8.9%), while in June this figure fell to 14,000 yuan (8.6%). For the overall passenger vehicle market, the average price reduction from January to June reached 21,000 yuan (11.4%), with June's average reduction at 15,000 yuan (9.9%). [Lithium battery recycling plant fire in Spain remains uncontained after three days] A lithium battery recycling plant near Madrid, Spain caught fire on the 4th and remained ablaze as of the 6th. Two individuals were injured in the incident, according to reports. DPA news agency stated that firefighters continued battling the blaze at the industrial facility located approximately 50 kilometers northeast of Madrid. Multiple explosions triggered the fire, though the cause remains under investigation. (Cailian Press) [Four ministries: Automakers' large power charging networks should be open to all] The National Development and Reform Commission (NDRC) and three other departments issued the "Notice on Promoting Scientific Planning and Construction of Large Power Charging Facilities." The document mandates that project proponents complete filing procedures per the "Regulations on the Administration of Approval and Filing of Enterprise Investment Projects," with local authorities responsible for charging infrastructure development required to coordinate with investment regulators in supervising large power charging projects to prevent resource waste and disorderly construction. The notice emphasizes government guidance to promote efficient resource utilization, supports qualified operators with strong investment and operational capabilities in facility construction/renovation/operation, and encourages deployment of specialized large power charging infrastructure for buses, logistics, and heavy-duty freight. It stipulates that automakers' self-built large power charging networks should be universally accessible, and promotes commercial models integrating charging stations with dining, entertainment, shopping, and automotive services to enhance user experience. (Cailian PressZ7/>》Click for details [Apex (Wuxi) Co., Ltd. has 74 3C certificates suspended/revoked] Romoss and Anker Innovations recently announced recalls of multiple power bank models, involving over 1.2 million units. The State Administration for Market Regulation stated that the recall was due to metal foreign matter being mixed into the battery during production, posing safety risks of overheating or even combustion. It is understood that Apex (Wuxi) Co., Ltd. is one of the lithium battery suppliers for Romoss power banks. Currently, all 74 3C certificates held by Apex (Wuxi) Co., Ltd. have been suspended or revoked by the certification body. The Wuxi Municipal Market Supervision Bureau has sealed all lithium battery products produced by the company in accordance with regulations. (CCTV News) [CATL and Geely Deepen Strategic Cooperation Agreement] CATL and Geely Automobile recently officially signed a comprehensive electrification deepening strategic cooperation agreement. The two parties will take this signing as an opportunity to further deepen collaboration in areas including power battery technology synergy, product platform integration, and supply chain system construction, aiming to promote in-depth coordinated development across the entire industry chain and establish a more efficient and stable cooperation mechanism. (Cailian Press) [Mercedes-Benz Q2 Sales Reach 547,100 Units, Down 9% YoY] Mercedes-Benz sold 547,100 vehicles in Q2, down 9% YoY. The GLC remained Mercedes-Benz's best-selling model globally in H1 2025, with GLC sales increasing by 9% in Q2. Global plug-in hybrid vehicle sales grew 34% in Q2. In Europe, xEV market share reached 40%, and global xEV share hit 21% in Q2. (Cailian Press)

I. Production and Sales Data According to public data released by authoritative institutions such as the China Association of Automobile Manufacturers (CAAM), the production and sales of fuel cell vehicles in China from January to May 2025 are as follows: (I) Overview of Core Data: Unit: 10,000 units Indicator May Data YoY Change Value (units) YoY Change Production 0.025 -37.2% 0.1 -25.0% Sales 0.0165 -62.9% 0.1 -26.1% Note: The data statistics cover fuel cell commercial vehicles (including buses and trucks), excluding passenger vehicles and stationary power generation applications. (II) Monthly Trend Analysis: 1. January-February: Affected by the Chinese New Year holiday and the policy transition period, the production and sales pace was relatively slow (with approximately 219 units produced and 252 units sold). 2. March: The implementation of local subsidy policies drove demand, with monthly production reaching 365 units and sales reaching 377 units, marking the peak for the quarter. 3. April-May: Stable growth was maintained, with monthly production of approximately 592 units and sales of 493 units. The expansion of infrastructure contributed to an increase in market penetration. II. Key Driving Factors: Policy Support: From January to May 2025, the national and provincial/municipal governments jointly issued 116 hydrogen energy-related policies. Expansion of Application Scenarios: Heavy-duty trucks and logistics vehicles accounted for a significant proportion, with demonstration projects in ports, ore areas, etc., being delivered in batches. Among them, Hydrogen Blue Times delivered 100 hydrogen-powered heavy-duty trucks to Handan, Hebei Province. Cost Reduction: The average price of fuel cell systems has dropped to approximately 1,000 yuan/kW (a 47% decrease YoY), driving an improvement in the economic efficiency of the entire vehicle. III. Regional and Corporate Dynamics: Regional Concentration: The Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong clusters accounted for 78% of the national sales. Performance of Top-Tier Enterprises: Antelope Hydrogen Energy: Delivered and operated 100 hydrogen-powered container trucks for Jiaxing Port Authority; Farizon New Energy Commercial Vehicle: Successively delivered 1,000 Farizon Star Intelligence H9M units to Shanghai Shangqiao; Proton Motor: Signed an export intention agreement with an Australian partner for 20 hydrogen fuel cell heavy-duty trucks. IV. Challenges and Outlook: Existing Bottlenecks: The coverage rate of hydrogen refueling stations is still insufficient, particularly in second- and third-tier cities, which lack supporting hydrogen refueling stations. H2 Outlook: Policy: As the final year of the "14th Five-Year Plan" fuel cell subsidy policy, the uncertainty surrounding the continuity of policies in 2025 will, to some extent, affect corporate production plans. Some enterprises have adopted conservative strategies due to unclear expectations for new policies, with some automakers suspending or reducing their production plans. Taking Beijing as an example, the hydrogen vehicle purchase subsidy in 2025 has decreased by 50% compared to 2021, and the subsidy disbursement cycle has been extended to 18 months, exacerbating the cash flow pressure on vehicle manufacturers and significantly reducing their purchase willingness. Additionally, the demonstration city cluster policy is set to expire in September 2025, while new policies remain unclear, plunging the industry into a "policy vacuum," with enterprises generally postponing their expansion plans. Short-term Drivers: Policy Sprint and Peak Season Effect 1. Subsidy Sprint: 2025 marks the final year of the demonstration city cluster policy, with local governments needing to complete their targets by August (Beijing-Tianjin-Hebei) or December (Zhengzhou, Hebei). It is expected that orders will be concentrated in Q3-Q4. 2. Expansion of Highway Access Policies: Ten provinces nationwide (including Shandong and Shaanxi) have introduced policies for free highway access for hydrogen-powered vehicles. The relaxation of highway access will stimulate demand for logistics and heavy-duty trucks. 3. Seasonal Installation Peak: Historical data shows that June and Q4 are the peaks for production and sales, with a rebound expected after the trough in May. The following figure illustrates the completion status of pilot projects in various target cities. (The above information is sourced from public data and survey data compiled by relevant departments.) V. Conclusion: Short-term Pressure, Expected Bottoming Out and Rebound in H2 1. The decline in May reflects a combination of economic bottlenecks, a policy vacuum, and seasonal fluctuations, rather than a reversal of long-term trends. 2. Core variables in H2: The intensity of the subsidy sprint in city clusters, the progress of hydrogen refueling station commissioning, and the speed of green hydrogen cost reduction. 3. Key periods: If sales do not rebound in June, the probability of a conservative annual forecast (7,000 units) will increase. If policy coordination is strengthened, an optimistic target (15,000 units) remains achievable.

On June 17, 2025, the 2025 SMM (2nd) Southeast Asia Automotive Supply Chain Conference , hosted by SMM, successfully concluded at the Hyatt Regency Bangkok Sukhumvit in Bangkok, Thailand! The conference brought together experts, scholars, corporate representatives, and government officials from the domestic and overseas automotive industries to discuss new trends and models in the development of the automotive industry, share the latest technologies and innovative achievements, promote collaborative development and cooperation within the automotive industry, facilitate the improvement and enhancement of the industry chain, help Chinese automotive industry chain enterprises better understand overseas investment environments, leverage the complementary advantages of various countries and regions in the automotive industry, and jointly support the healthy and sustainable development of the automotive industry! Yossapong Laoonual, Honorary Chairman of the Electric Vehicle Association of Thailand (EVA) and Director of the Mobility and Vehicle Technology Research Center (MOVE) at King Mongkut's University of Technology Thonburi (KMUTT) , stated that Thailand's electric vehicle vision (the 30@30 Policy) sets an ambitious goal of achieving 30% zero-emission vehicles (ZEVs) in the country's total production and 50% in newly registered vehicles by 2030. To achieve this goal, the government provides subsidies to original equipment manufacturers producing cars, pickup trucks, and motorcycles. The planned annual capacity for EVs exceeds 500,000 units, while the actual production in 2024 was 9,688 units, representing a 58-fold increase compared to the entire year of 2023. Although internal combustion engine vehicles still dominate the market, the growth rate of battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs) is very rapid, with a compound annual growth rate (CAGR) of 138% for BEVs from 2020 to 2024. By 2024, the market penetration rate of electric four-wheelers had reached 13%. Asst. Prof. Uthane Supatti, Ph.D., Vice Chairman of the Electric Vehicle Association of Thailand (EVAT) , stated, when referring to the development of charging infrastructure in Thailand, that after 2023, the deployment of charging piles in Thailand has reached a significant turning point. Data shows that the number of charging piles increased by an astonishing 306.2% YoY in 2023. By 2023, the number of charging piles had already surpassed the original target set for 2025. However, there is still significant room for improvement to achieve the 2030 goal, and continued efforts in construction are needed. In addition, Yao Xinying, Director of SMM Steel Product Research , released the SMM Thailand Metal Prices and Thailand Steel Prices to help enterprises identify fair prices and reduce transaction costs. She stated that the Thai manufacturing industry still faces numerous obstacles in price referencing and settlement, such as the lack of authoritative price benchmarks, low price transparency, an imperfect settlement system, and susceptibility to market manipulation. SMM, closely connected with the upstream and downstream of the Thai metal industry chain, has launched the SMM Thailand Metal Prices to facilitate market transactions. Additionally, SMM has specially designed a networking session for automakers, bringing together over a dozen well-known domestic and overseas automakers, including BYD and BMW, to provide dedicated time for supply and demand exchanges between attending guests and automakers, facilitating collaboration discussions! 》Click to view the live video of the conference 》Click to view the live photo gallery of the conference 》Click to view the special coverage of the conference Opening Remarks Speaker: Logan Lu, CEO of SMM 》Click to view details of the on-site speech Guest Speaker Session Speech Topic: Latest Policies in Southeast Asia's Automotive Industry Guest Speaker: Yossapong Laoonual, Honorary Chairman of the Electric Vehicle Association of Thailand (EVA) and Director of the Mobility and Vehicle Technology Research Center (MOVE), King Mongkut's University of Technology Thonburi (KMUTT) Thailand's EV Vision (30@30 Policy) Thailand's EV Vision (30@30 Policy) sets an ambitious target of achieving 30% zero-emission vehicles (ZEVs) in the country's total production and 50% in new vehicle registrations by 2030. To achieve this, the government is providing subsidies to original equipment manufacturers (OEMs) producing cars, pickup trucks, and motorcycles. 2024 Capacity and Market Performance The planned annual production capacity for EVs exceeds 500,000 units, with actual production in 2024 reaching 9,688 units, a 58-fold increase compared to the full year of 2023. Despite internal combustion engine vehicles still dominating the market, the growth rates of battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs) have been very rapid, with BEVs achieving a compound annual growth rate (CAGR) of 138% from 2020 to 2024. By 2024, the market penetration rate of electric four-wheelers has reached 13%. Infrastructure Development By 2024, the ratio of electric passenger vehicles to charging stations is 28, and the number of DC charging piles has exceeded the 2025 target by 40%. These charging piles are mainly distributed in gas stations, department stores, office buildings, and other locations. Challenges Faced In Thailand's four-wheeled EV market, Chinese OEMs have already taken a dominant position and are benefiting from the 30@30 policy. To enhance the competitiveness of the local automotive industry, local auto parts suppliers should actively integrate into the global supply chain and collaborate with Chinese OEMs to improve price competitiveness and enhance technological capabilities. 》EVA Thailand Shares: Thailand's EV Outlook - Opportunities and Challenges Automotive Brand Building and Differentiation Strategies in the Southeast Asian Market Guan Xin, Deputy General Manager of Changan Automobile's Southeast Asia Division Zhang Cong, General Manager of Geely Radar Thailand Pichayuth Vongpattanasin, Vice President of Omoda&Jaecoo (Thailand) Co., Ltd. Roundtable Discussion: Pathways for Building and Optimizing Localized Supply Chains in Southeast Asia Guests: Martin Knoss, Regional President for Passenger Cars, Commercial Vehicles, and Off-Road Vehicles in the ASEAN Market Segment, Powertrain Solutions Division, Robert Bosch Automotive Technology (Thailand) Co., Ltd. Peter Klöpfer, Senior Manager, Rutronik Yoshinobu Egawa, Head of China Region, SIIX Corporation Ma Ming, General Manager, Joyson Safety Systems (Thailand) Guan Xin, Deputy General Manager of Changan Automobile's Southeast Asia Division Speech Topic: SMM Thailand Metal Price Launch & Thailand Steel Price Release - Discovering Fair Prices and Reducing Transaction Costs Guest Speaker: Yao Xinying, Director of Steel Product Research, SMM Why Launch SMM Thailand Metal Prices? The Thai manufacturing industry still faces numerous obstacles in terms of price reference and settlement. 1. Lack of an authoritative price benchmark Thailand lacks an independent third-party price publishing platform, resulting in a lack of unified and credible price reference standards for metal trading. This makes it difficult for buyers and sellers to reach fair pricing agreements, exacerbating market price confusion. 2. Low price transparency Due to the absence of professional price information disclosure channels, metal trading price data is scattered and not publicly available. Market participants are unable to obtain timely and accurate market information, increasing the difficulty of price discovery and the risk of trading decisions. 》SMM Thailand Metal Price Launch Event & Thailand Steel Price Release - Discovering Fair Prices and Reducing Trading Costs Roundtable Discussion: Southeast Asia Automotive Supply Chain - Import and Local Matters (Services, Prices, Landing Support Possibilities) Dong Rujun, Senior Overseas Market Manager, SMM Wu Zhengguo, Operations Director, Taichengfa Co., Ltd. Wu Zhongxian, Deputy General Manager, International Trade Company, CITIC Pacific Special Steel Group Co., Ltd. Bai He, General Manager, RTM International Aluminum Division, Mitsubishi Corporation Yingzhang Liang, Head of Sustainability, Metals & Mining, Asia Pacific, Bloomberg Intelligence Shine Peng, Sales General Manager, FedEx Speech Topic: Accelerating the Development of Thailand's EV Ecosystem Guest Speaker: Asst. Prof. Uthane Supatti Ph.D., Vice Chairman, Electric Vehicle Association of Thailand (EVAT) Transformation of Transportation Modes in Thailand Traditional transportation modes include speedboats, traditional buses, and traditional trains. After improvements, electric taxis, electric buses, and electric motorbike taxis have emerged. Following electrification development, subways, trams, and electric boats have also come into people's view. Thailand's EV Vision - The "30@30" Policy Thailand has set EV adoption and production targets for 2025 and 2030. By 2030, the following goals will be achieved: zero-emission vehicles will account for 30% of Thailand's total vehicle production; zero-emission vehicles will account for 50% of the country's vehicle usage. Passenger Vehicle Production: As of 2024, Thailand's total sedan production reached 1,468,997 units, a YoY decrease of 20%. Among them, passenger vehicle production was 558,440 units, a YoY decrease of 13.5%. Pure electric passenger vehicle production was 9,688 units, a YoY surge of 5,807.3%. 》Current Status of Thailand's EV Industry - How to Accelerate the Development of Thailand's EV Ecosystem? Roundtable Discussion: Accelerated Electrification and Localization Progress of Core Components in Thailand Xiaolong Xu, Deputy General Manager, Inovance United Power System (Thailand) Co., Ltd. Zhibiao Fu, Plant Manager, Shanghai Edrive (Thailand) Co., Ltd. Tongkarn Kaewchalermtong, Chair of the Transport and Logistics Working Group, ASEAN Federation of Engineering Organizations (AFEO) Sizhan Chen, Chairman of the Automotive Parts Industry Association, Federation of Thai Industries, and Deputy Secretary General, Thai Auto Parts Manufacturers Association Haofeng, Business Director, Gotion High-tech (Thailand) Co., Ltd. Presentation Topic: Industrialization Breakthrough of Ultra-Thin Soft Magnetic Materials for High-Efficiency Drive Motors Guest Speaker: Lugang Zhan, Executive Deputy General Manager, Hunan Hongwang New Materials Technology Co., Ltd. (At the speaker's request, this presentation will not be publicly available) Roundtable Discussion: Charging Pile Infrastructure: Unlocking the Last Mile of Southeast Asia's New Energy Revolution Liming Zhao, Overseas Sales Director for Southeast Asia, Teld International Soravis Sithicharoen, Charging Pile Business Head, Gentari Green Mobility Thailand Chavarin Chavarangkul, Charging Pile Head and Sales Director, Innopower Company Limited Presentation Topic: Operational Status of Lithium Carbonate Futures Guest Speaker: Bing Leng, Deputy General Manager, GFEX (At the speaker's request, this presentation will not be publicly available) Presentation Topic: Eastern Economic Corridor (EEC): A Hub of Prosperity Opportunities Guest Speaker: Songwut Apirakkhit, Executive Head of Next-Generation Automotive Sector, Eastern Economic Corridor Roundtable Discussion: Investment Models in Southeast Asia: Pros and Cons of Joint Ventures and Wholly Owned Subsidiaries Weien Lin, Director and Deputy General Manager, Thai Long United Automotive Co., Ltd. Kuixian Lin, Founder of Jiahua Group and CEO of NexV, Sdn Bhd Bin Zhao, President, Thai-Chinese Rayong Industrial Zone Development Co., Ltd. June 17 Main Conference Presentation Topic: Rizhao Steel's ESP Automotive Steel Supports Green and Efficient Development in the Automotive Industry Guest Speaker: Xutao Zheng, Deputy Director of Technology and Quality Department, Technical Center Director, Rizhao Steel Holding Group Co., Ltd. (At the speaker's request, this presentation will not be publicly available) Roundtable Discussion: How Southeast Asia's Local Supply Chain Serves European and US Markets Tuan Vi, Vice President of Supply Chain and Logistics for Asia Pacific, Schaeffler Vietnam Sridhar Ramakrishna, Application and Engineering Director, Tenneco Presentation Topic: Smart Logistics Systems and Technologies Facilitating Global Supply Chain Expansion Guest Speaker: Chunlong Jin, Deputy General Manager, Shanghai Boyi International Logistics Co., Ltd. (At the speaker's request, this presentation will not be publicly available) Roundtable Discussion: Potential Synergies in Battery Cell Chemical Materials Across Southeast Asia Logan Lu, CEO, SMM Tony, General Manager, Sunwoda EV Energy (Thailand) Co., Ltd. Rui Liu, Chairman, Innovate (Malaysia) New Materials Technology Co., Ltd. Changxi Jin, Sales Director for Japan, South Korea, and Southeast Asia, Electrolyte Division, Guangzhou Tinci Materials Technology Co., Ltd. Shuzhan Yang, Deputy General Manager, BTR New Materials Group Co., Ltd., and Chairman, BTR Indonesia Automaker Demand Matching Session At the 2025 SMM (2nd) Southeast Asia Automotive Supply Chain Conference , SMM has specially designed a networking session for automakers, bringing together over a dozen renowned domestic and overseas automakers to provide attendees with dedicated time for supply and demand discussions and collaboration opportunities! 》Click to view the list of automakers participating in the exchange meeting Sign-in 》Click to view more highlights from the event With this, the 2025 SMM Southeast Asia (Thailand) Automotive Supply Chain Conference has come to a successful conclusion Thank you for the support of all industry colleagues See you next year! 》Click to view the special report on the 2025 SMM Southeast Asia (Thailand) Automotive Supply Chain Conference

At the 2025 SMM (2nd) Southeast Asia Automotive Supply Chain Conference hosted by SMM, Asst. Prof. Uthane Supatti Ph.D., Vice Chairman of the Electric Vehicle Association of Thailand (EVAT), shared insights on the topic of "Accelerating the Development of Thailand's EV Ecosystem" . Transformation of Transportation Modes in Thailand Traditional transportation modes include speedboats, traditional buses, and traditional trains. After improvements, electric taxis, electric buses, and electric motorbike taxis emerged. Following electrification, subways, trams, and electric boats have also come into view. Thailand's EV Vision - The "30@30" Policy Thailand has set EV adoption and production targets for 2025 and 2030. By 2030, the following goals will be achieved: zero-emission vehicles will account for 30% of Thailand's total car production; zero-emission vehicles will account for 50% of the country's total car usage. Passenger Car Production: As of 2024, Thailand's total sedan production reached 1,468,997 units, down 20% YoY. Among them, passenger car production was 558,440 units, down 13.5% YoY; BEV passenger car production was 9,688 units, surging 5,807.3% YoY. Expansion of EV Manufacturing Investment in Thailand The planned maximum EV production capacity exceeds 500,000 units per year. EV Market Share in Thailand's Passenger Car Market (2019-2024) The share of EVs in Thailand's passenger car market has been increasing year by year, reaching 13.8% by 2024. Number of BEV Models Available for Sale as of January 2025: Charging Infrastructure - Number of DC Charging Piles After 2023, the deployment of charging piles has reached a significant turning point. Data shows that the number of charging piles increased by an astonishing 306.2% YoY in 2023. By 2023, the number of charging piles had already surpassed the original 2025 target. However, there is still significant room for improvement to achieve the 2030 target, requiring continued construction efforts. Electric Motorbikes According to public data, the cumulative annual registration of electric motorbikes in Thailand (as of December 2024) was 63,158 units. Promoted EV Equipment Projects (Excluding Batteries) Promoted Battery Projects Thailand's EV Battery Ecosystem - Investment Potential in Battery Reuse and Recycling in Future Periods Automotive Parts Situation as of September 2024 As of September 2024, the production of automotive parts has significantly declined, with the Manufacturing Production Index (MPI) decreasing by 8.8% YoY. This data continues the trend of a 17.7% YoY decline in automobile production and a 12.3% YoY decline in motorcycle production, reflecting the industry's shift towards EVs. This includes the adoption of EV 3.0 and EV 3.5 measures to boost EV production and imports. Despite this, the spare parts market is expanding due to an increase in the registration of vehicles aged five years and older. The automobile spare parts market grew 4.3% YoY, while the motorcycle spare parts market also increased 2.3% YoY, primarily because the prolonged sluggishness of past purchasing power has extended the lifespan of older vehicles. On the other hand, the export value of automobile parts declined 0.5% YoY, particularly with internal combustion engine exports falling 16.0% YoY, a trend consistent with global automakers' strategies to increase EV production. 》Click to view the special report on the 2025 SMM (2nd) Southeast Asia Automotive Supply Chain Conference

[Guangxi: Intensifying and Expanding Support for Trade-in of Vehicles, Home Appliances, Home Furnishing, Kitchen and Bathroom Products, and E-bikes, as Well as Subsidies for Purchasing New 3C Digital Products] The General Office of the People's Government of Guangxi Zhuang Autonomous Region recently issued the Implementation Plan for Guangxi's Special Action to Boost Consumption. It mentions intensifying and expanding support for trade-in of vehicles, home appliances, home furnishing, kitchen and bathroom products, and e-bikes, as well as subsidies for purchasing new 3C digital products. The scope of subsidies for vehicle scrappage and renewal has been expanded to cover eligible gasoline-powered passenger vehicles meeting China IV vehicle emission standards. The categories of home appliances and home furnishing, kitchen and bathroom products eligible for subsidies have been expanded to 24 and 48 categories, respectively, and the process for applying for and reviewing subsidies has been optimized. In 2025, it is expected to boost the sales of key commodities to over 38 billion yuan, promote the scrappage and renewal of 4,700 old commercial freight vehicles, the renewal of 400 new energy city buses, the replacement of power batteries in 700 new energy city buses, and the scrappage and renewal of 2,500 sets of old agricultural machinery.