Understanding the Market | SINOHYTEC rose over 25% in early trading, partnering with Toyota to establish a fuel cell company, recently announced the termination of the acquisition of Xuyang Hydrogen Energy

Zhitong
2025.09.22 02:09
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SINOHYTEC rose over 25% in early trading, as of the time of writing, it increased by 25.29%, priced at HKD 32.3, with a transaction volume of HKD 276 million. According to news reports, the Qichacha APP shows that recently, Huafeng Fuel Cell (Lvliang) Co., Ltd. was established, with Taihang Seng as the legal representative and a registered capital of 10 million yuan. The business scope includes: battery manufacturing; battery sales; production of battery accessories; sales of battery accessories; wholesale of automotive accessories; retail of automotive accessories, etc. Qichacha's equity penetration shows that the company is wholly owned by Huafeng Fuel Cell Co., Ltd., which is jointly held by Toyota Motor Corporation and SINOHYTEC. It is worth noting that SINOHYTEC recently announced the termination of the issuance of shares to purchase 100% equity of Xuyang Hydrogen Energy and the fundraising of supporting funds, with the reason for terminating the transaction being that the parties involved in the transaction failed to reach a consensus on the final plan. According to a previous announcement, Xuyang Group planned to exchange all the equity of Xuyang Hydrogen Energy for SINOHYTEC A-shares. At the same time, Xuyang Group planned to invest no more than 550 million yuan to subscribe for SINOHYTEC A-shares, also at the aforementioned price. If this transaction is completed, it is expected that SINOHYTEC's controlling shareholder will change to Xuyang Group

According to the Zhitong Finance APP, SINOHYTEC (02402) rose over 25% in early trading, and as of the time of writing, it has increased by 25.29%, trading at HKD 32.3, with a transaction volume of HKD 276 million.

In terms of news, the Qichacha APP shows that recently, Huafeng Fuel Cell (Lvliang) Co., Ltd. was established, with Sen Gang Tai Xing as the legal representative and a registered capital of 10 million yuan. The business scope includes: battery manufacturing; battery sales; production of battery accessories; sales of battery accessories; wholesale of automotive accessories; retail of automotive accessories, etc. Qichacha's equity penetration shows that the company is wholly owned by Huafeng Fuel Cell Co., Ltd., which is jointly held by Toyota Motor Corporation and SINOHYTEC.

It is worth noting that SINOHYTEC recently announced the termination of the issuance of shares to acquire 100% equity of Xuyang Hydrogen Energy and the related fundraising. The reason for terminating the transaction is that the parties involved in the transaction failed to reach a consensus on the final plan. According to a previous announcement, Xuyang Group intended to exchange all the equity of Xuyang Hydrogen Energy for A-shares of SINOHYTEC. At the same time, Xuyang Group planned to invest no more than 550 million yuan to subscribe for A-shares of SINOHYTEC, also at the aforementioned price. If this transaction is completed, it is expected that the controlling shareholder of SINOHYTEC will change to Xuyang Group

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