SINOHYTEC (02402) closed up 15% yesterday and surged over 10% again during today's late trading session. As of the time of writing, the stock was up 8.95%, trading at HK$28, with a turnover of HK$142 million.

On the news front, according to SMM, since the end of 2025, as various provinces have successively released their proposals for the "16th Five-Year Plan," a multitude of encouraging and supportive policies related to hydrogen energy have emerged.

Hefei's "16th Five-Year Plan" proposal suggests promoting the iterative application of technologies like hydrogen and ammonia energy and deploying advanced nuclear energy technologies such as small modular reactors; Henan province announced that hydrogen-powered trucks passing through its toll roads will be exempt from tolls before the end of 2027; Sichuan aims for its hydrogen energy industry's comprehensive strength and application scale to rank among the top tier nationally by 2027.

GJ Securities released a research report stating that multiple provinces and cities have introduced policies to waive or reduce highway tolls for hydrogen energy vehicles, marking a breakthrough for fuel cell vehicle applications.

2025 is the final year of the demonstration city cluster policy and also the first settlement point under the medium- to long-term hydrogen energy plan. Policies such as the expansion of city clusters and the distribution of subsidies are expected to accelerate the deployment of fuel cell vehicles. Subsequent related follow-up policies are also anticipated to be rolled out successively. The report recommends focusing on leading companies in fuel cell components, such as SINOHYTEC.