SINOHYTEC (02402) surged over 8% again, gaining 5.01% to HK$33.98 by the time of writing, with a turnover of HK$111 million. The company reported its financial results, showing total operating revenue of RMB104 million for the first three quarters, down 67.31% year-on-year, and a net loss attributable to shareholders of RMB311 million, compared to a loss of RMB258 million in the same period last year. Notably, SINOHYTEC's net operating cash flow turned positive at RMB4.61 million in the first three quarters of 2025, a significant improvement from a negative RMB221 million in the prior year. This shift was attributed to strengthened accounts receivable collection and optimized supply chain and workforce management.

Guojin Securities noted that multiple provinces have introduced toll exemption policies for hydrogen-powered highways, marking a breakthrough for fuel cell vehicle applications. With 2025 being the final year of the demonstration city cluster policy and the first milestone for China's long-term hydrogen energy plan, policies such as cluster expansion and subsidy disbursements are expected to accelerate fuel cell vehicle production. Follow-up supportive policies are also anticipated, with SINOHYTEC among the leading fuel cell component manufacturers to watch.