Shandong Province to Exempt Hydrogen Vehicles from Highway Tolls, Sparking Surge in Energy Concept Stocks
In a move that has sent shockwaves through the A-share market, Shandong Province recently announced plans to exempt hydrogen vehicles from highway tolls starting in March. The news has had a significant impact on the market, with about 30 hydrogen energy concept stocks experiencing a surge in trading activity.
One of the standout performers has been Hanma Technology, which closed with 8 boards in 10 days following the announcement. Similarly, New Energy achieved two consecutive 20cm daily limits, while Sichuan Jinding recorded 3 consecutive boards. Other companies such as Jingcheng Shares, Compton, and Huitong New Materials also saw significant gains, with multiple consecutive boards being hit.
Hanma Technology, in particular, stands out as it currently has hydrogen fuel vehicle products listed in the catalog announced by the Ministry of Industry and Information Technology. Additionally, New Power’s first hydrogen fuel cell catalyst production line has completed online debugging, marking a significant milestone for the company.
According to a research report compiled by Ping An Securities, several other targets in the hydrogen energy industry chain, including companies involved in hydrogen production, storage and transportation, and fuel cell technologies, are also expected to benefit from Shandong Province’s decision. Companies like Huachang Chemical, Huadian Heavy Industry, Longi Green Energy, and Sinoma Technology are among those identified as potential winners in this space.
Overall, the outlook for hydrogen energy concept stocks appears promising, with the exemption of hydrogen vehicles from highway tolls providing a significant boost to the sector. Investors are advised to carefully consider their options and operate according to their own risk tolerance levels in light of these developments.
(Source: Financial Associated Press)