Huatai Securities: Under the resonance of domestic and foreign policies, hydrogen energy may usher in a turning point of non-linear growth.

Huatai Securities research report states that the government work report in 2026 proposes to "cultivate new growth points such as hydrogen energy and green fuels", and the "14th Five-Year Plan" also elevates hydrogen energy to the strategic height of "future industry". In addition, global shipping and aviation carbon emission control policies are gradually tightening, and under the resonance of domestic and foreign policies, hydrogen energy may usher in a turning point of nonlinear growth. With the optimistic outlook for the surge in demand for green hydrogen, domestic project operators, hydrogen ammonia equipment suppliers, and electrolysis tank suppliers are expected to benefit.