110 million yuan test water hydrogen fuel cell Yufu shares new energy layout

On the evening of May 2, Yufu shares (002427) announced that it plans to use its own funds of RMB 112.5 million to increase capital of Wuhan Zhongyu Power System Technology Co., Ltd., thereby holding a 25% stake in Wuhan Zhongyu.

It is understood that this is the second heavyweight layout of Yufu shares in the field of new energy vehicles. In the fourth quarter of 2016, Yufu invested 1 billion yuan and successfully acquired a 51% stake in Jiangsu Zhihang New Energy Co., Ltd., and cut into the new energy automobile industry chain, officially laying out the dual main business of polyester industrial yarn and lithium battery.

Wuhan Zhongyu, the investment of Yufu shares, is a leading enterprise in the domestic hydrogen fuel cell industry. It has been committed to the research and development of hydrogen fuel cell industry, and has applied for 16 patents, with Dongfeng Yangzijiang Automobile Company and Dongfeng Special Auto. Well-known car manufacturers such as special car companies have deep cooperative relations.

According to the data, in 2014, Wuhan Zhongyu was elected as the vice chairman unit of the Fuel Cell Branch of China Electrical Equipment Industry Association. In 2015, Wuhan Zhongyu joined the “China Fuel Cell Vehicle Technology Innovation Strategic Alliance” and became the governing unit. At present, Wuhan Zhongyu is the main drafting unit and has participated in the compilation of 15 national standards for fuel cells, 4 of which involve fuel cell vehicles.

Yufu shares said that Wuhan Zhongyu's net profit forecast for 2017-2019 is 12.89 million yuan, 53 million yuan and 103.87 million yuan respectively, and the average annual growth rate is increasing rapidly year by year. With the rapid development of the hydrogen fuel cell industry in the future, Wuhan Zhongyu has great long-term development potential.

At the end of last year, the new subsidy policy introduced by the four ministries and commissions clearly pointed out that fuel cell vehicle subsidies did not decline. At present, the fuel cell is subsidized according to the model, which is four times that of the United States and Japan. According to industry insiders, the higher subsidy quota for fuel cell vehicles will continue to encourage enterprises to increase investment in fuel cell vehicles. More fuel cell models will appear in 2017.

Yufu shares said that the company's rapid deployment of hydrogen fuel cells will help the company to grasp the fuel cell market opportunities, and it is also a step in the field of "testing water" hydrogen fuel cells, which will expand the hydrogen fuel cell industry for the company. Accumulating experience and forming a strategic complement and extension with lithium batteries will also lay a solid foundation for the company's medium and long-term strategy.

At present, a number of listed companies in China have begun to actively deploy the hydrogen fuel cell industry. Snowman currently holds a 17.01% stake in OPCON, which has a variety of fuel cell technology reserves that can be equipped with hydrogen fuel cell vehicles. Companies such as Tongji Technology and Guiyan Platinum are also actively developing new energy technology solutions with hydrogen fuel cells as the core.