Guofu Hydrogen Energy makes another attempt to list on the Hong Kong Stock Exchange

After a failed attempt to list on the A-share market more than a year ago, Guofu Hydrogen Energy is now trying to list on the Hong Kong Stock Exchange. Guofu Hydrogen Energy formally submitted an application for listing on the main board of the Hong Kong Stock Exchange on March 20. Guofu Hydrogen Energy is an integrated hydrogen energy equipment solution provider that provides research and development and manufacturing of core equipment for the entire hydrogen energy industry chain. It was established in 2016 and is headquartered in Zhangjiagang City, Jiangsu Province. The company's main products include on-board high-pressure hydrogen supply systems and related products, hydrogen refueling station equipment and related products, hydrogen liquefaction and liquid hydrogen storage and transportation equipment, water electrolysis hydrogen production equipment and related products. Among them, on-board high-pressure hydrogen supply systems and hydrogen refueling station equipment are the company's core businesses, contributing more than 80% of its total revenue. The application materials show that Guofu Hydrogen Energy has maintained the largest market share of domestic on-board high-pressure hydrogen supply systems, and has had the largest market share of domestic hydrogen refueling station equipment for five consecutive years. The prospectus shows that Guofu Hydrogen Energy's revenue has increased but profits have decreased in the past five years, and its losses are expanding. From 2019 to 2023, the company's operating income increased from 176 million yuan to 522 million yuan, but its losses in the same period expanded from 18 million yuan to 75 million yuan.