Jiahua Energy (600273): With The World'S Hydrogen Giant Gold Nuggets Fuel Cell Industry

Jiahua energy (600273) on the 28 day of the announcement, the company in 28 in Jiaxing and Sanjiang Chemical Co., Ltd. (hereinafter referred to as "Sanjiang chemical") and air chemical products (China) Investment Co., Ltd. (hereinafter referred to as "air chemical") jointly signed the "hydrogen energy comprehensive utilization of the three party strategic cooperation framework agreement".

The latter is the world's leading commercial hydrogen supplier and liquid hydrogen supplier.

According to the agreement, air chemical and its associated companies are planning to invest in hydrogen and liquid hydrogen projects in Zhejiang for the tail hydrogen resources of Jiahua energy and Sanjiang chemical industry.

The total area of the project is estimated to be about 100 mu.

According to the development of China's hydrogen market, air chemical industry will decide the speed of hydrogen purification and liquid hydrogen plant investment.

Specifically, Jiaxing energy will make use of some surplus hydrogen resources existing in chlor alkali plant. Sanjiang chemical industry will invest in syngas cold box to air chemical industry and related companies to provide hydrogen rich tail gas in stages. The three parties separately agree on the purchase price and trading conditions of raw materials in the tail gas purchase agreement.

Sanjiang chemical industry is the related party of Jiahua energy and its actual control is Guan Jianzhong.

Public information shows that Sanjiang chemical industry was established in December 2003, and registered in Jiaxing, Zhejiang.

Air chemical industry was founded in November 1997, Air Products & Chemicals Inc. holds 100% of its equity.

Air products company is the leading commercial hydrogen supplier and liquid hydrogen supplier in the world, supplying the market with on-site hydrogen production, high pressure pipe cars, liquid hydrogen tankers and various ways of supply of pipelines.

It is reported that since 1993, the hydrogen station business has been running more than 250 hydrogen stations in the world, with more than 1 million 500 thousand hydrogenation cycles per year, and hydrogen stations are distributed in more than 20 countries including China.

For the signing of this agreement, Jiaxin energy indicated that the three parties will carry out deep level cooperation in the comprehensive utilization of hydrogen rich gas projects, and take advantage of the development of fuel cells in the Yangtze River Delta city group to promote the comprehensive utilization of low-carbon energy. This cooperation is an important strategic layout of the company in the field of new energy construction, which can increase the added value of hydrogen products and enhance the competitiveness of the company, which is conducive to the future development of the company.

It is reported that the existing surplus hydrogen resources of Jiaxi energy company has always had external sales business, but this part of the business accounted for only 1.94% of the profits in 2018.

The company said that this cooperation will not have a significant impact on the company's business structure and net profit.