Hydrogen energy-related stocks experienced another rally in the Hong Kong market. As of the time of writing, JINGCHENG MAC (00187) rose by 16.31% to HK$5.99, while GUOFUHEE (02582) climbed by 6.92% to HK$36.14. SINOHYTEC (02402) also saw an increase of 5.92%, reaching HK$26.48.

The surge follows recent proposals by Ma Yongsheng, a member of the National Committee of the Chinese People's Political Consultative Conference and an academician of the Chinese Academy of Engineering. During the 2026 Two Sessions, he recommended strengthening top-level design to establish a unified national hydrogen infrastructure network. He also suggested supporting large energy companies in conducting cross-provincial hydrogen pipeline trials and accelerating the integration of green hydrogen certification with the carbon trading market.

Additionally, the government work report emphasized accelerating the transition to a comprehensive green economy. Plans include establishing a National Low-Carbon Transition Fund and fostering new growth areas such as hydrogen energy and green fuels.

Guosheng Securities noted that, according to the National Energy Administration, policy support for hydrogen energy will intensify during the 15th Five-Year Plan period. By the end of 2025, China's cumulative installed capacity for renewable hydrogen production projects is expected to exceed 250,000 tons per year, representing a year-on-year doubling.

A recent CITIC Securities research report highlighted that Yunnan Province's unprecedented subsidies for green hydrogen will significantly improve the profitability of local green hydrogen and green fuel projects. This has also raised market expectations for nationwide hydrogen energy support policies. The report recommends focusing on investors and operators of green hydrogen, ammonia, and methanol projects, as well as electrolyzer manufacturers.