A research report by Guotai Junan highlights that the accelerating industrialization has escalated fossil fuel consumption, intensifying global warming and extreme weather phenomena. This trend has spurred the development of renewable and clean energy as a universal imperative. According to the International Energy Agency, by September 2024, over 50 countries and regions had unveiled hydrogen energy strategies, collectively encompassing 1,572 global hydrogen energy projects. Bolstered by government policy incentives, enterprises' focus on green transformation, and the influx of new market entrants, the market for electrolysis water equipment has expanded rapidly. Looking ahead, as hydrogen energy strategies advance, fuel cell, storage, and transportation technologies improve, and the hydrogen refueling station infrastructure matures, global sales of fuel cell vehicles are poised for continued growth.