on December 5, Guohong Hydrogen Energy was officially listed on the Stock Exchange of Hong Kong. On the day of listing, the total market value of Guohong Hydrogen Energy was as high as HK $10.257 billion (equivalent to about RMB 9.8 billion), making it the hydrogen listed company with the highest market value in Hong Kong. According to the
data, Guohong Hydrogen Energy, founded in June 2015, is a hydrogen fuel cell company, focusing on the research, development, production and sales of hydrogen fuel cell stacks and hydrogen fuel cell systems. This time, for the first time, Guohong Hydrogen Energy intends to raise HK $ 1.456 billion (equivalent to RMB 109 million) publicly. About 40% of them will be used to expand the production capacity of the company's hydrogen fuel cell stack and hydrogen fuel cell system; Approximately 20% is intended to be used to fund the research and development of hydrogen fuel cell stacks, hydrogen fuel cell systems and hydrogen production equipment to expand the Company's product portfolio and increase the market penetration of hydrogen energy, thereby maintaining the Company's competitive advantage; Approximately 10.0% is intended to be used to fund the Company's investment in, potential acquisition of, or establishment of partnerships with companies in the upstream industry to consolidate and strengthen the Company's supply chain..
After Yihuatong, Guohong Hydrogen Energy became the second hydrogen energy listed company. Although the market value of the company was encouraging on the day of its listing, its performance after opening was unsatisfactory, falling 26.75% to HK $14.4 per share at the beginning of the session.
As the industry leader, Guohong Hydrogen Energy is in a state of loss year after year.
According to its financial data, in 2020-2022, Guohong's hydrogen energy revenue was 227 million yuan, 457 million yuan and 748 million yuan respectively, with net losses of 221 million yuan, 703 million yuan and 280 million yuan respectively. The accumulated net loss in the past three years has exceeded 1.2 billion yuan .
Until this year, Guohong Hydrogen Energy is still in a loss. According to its prospectus, in the first five months of this year, Guohong's hydrogen energy revenue was 143 million yuan, up 147% year-on-year, with a net loss of 88 million yuan.
As for the long-term loss situation, Guohong Hydrogen Energy said in the prospectus that because the hydrogen fuel cell industry and hydrogen fuel cell vehicles are in the early stage, the upstream and downstream production costs are relatively high, and the downstream application and development are limited, which affects the company's profitability.
In addition, as the "first share of hydrogen energy", Yihuatong is still losing money. Net profit loss in the third quarter of this year was 117 million yuan, down 236.8% from the same period last year.
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