GUOFUHEE (02582) surged nearly 8% during trading, closing up 5.84% at HK$61.65 with turnover of HK$109 million.

On September 15, GUOFUHEE officially signed a cooperation agreement with South Korea's Hylium. Both parties reached consensus on the development of hydrogen production, storage, and transportation systems and solutions for the Korean market, marking a crucial step in GUOFUHEE's strategic layout in the East Asian hydrogen energy market and establishing a core framework for deepening business operations in Korea and surrounding regions.

Hylium has been deeply engaged in the Korean market for many years, with precise insights into industry policies and demand, and mature technological capabilities in low-temperature storage, hydrogen liquefaction, and hydrogen transportation infrastructure.

Additionally, GUOFUHEE announced on September 17 the signing of a placement agreement to issue 1.9948 million shares at HK$50.13 per share, raising net proceeds of approximately HK$98.49 million. Of this amount, 72% will be used for working capital, 20% for repaying credit financing, and 8% for domestic and overseas hydrogen energy projects.

Notably, on September 8, the company completed a share placement at HK$54.03 per share, raising HK$90.99 million intended for funding investments and cooperation in hydrogen energy projects in China and overseas.