jiemianxinwenjizhe | tianheqi

guoneiqingnengdiwugulaile。

12月6日，上海重塑能源集团股份有限公司(下称重塑能源，02570.HK)正式登陆港交所，发行价为147港元/股，共发行482.79万股股份，每手20股，所得款项净额将约为6.29亿港元(约合5.87亿元人民币)。

重塑能源开盘价为148.9港元/股，较发行价上涨1.29%，随后加速下跌，一度跌超1.4%。截至今日收盘，重塑能源报147.1元/股，微涨0.07%，总市值126.71亿港元(约合118.21亿元人民币)。

11yue28ri，zhongsunengyuanzaigangjiaosuopiluzhaoguxinxi，fashoujiadangshidingweimeigufashougufen145-165gangyuan，muzijineda7yi-7.97yigangyuan(yuehe7.42yiyuanrenminbi)。zhongjingongsiweidujiabaojianren。

tianyanchaappxianshi，zhongsunengyuanchengliyu2015nian9yue，zhuanzhuyuqingranliaodianchixitong、qingnengzhuangbeijixiangguanlingbujiandesheji、kaifa、zhizaohexiaoshou，yijiqingranliaodianchigongchengkaifafuwudeng。gaigongsifadingdaibiaorenweilinqi。

genjudangshizhaogushupiludeshuju，zhongsunengyuanguzhijiangdadao124.9yi-142.13yigangyuan(yuehe132.28yiyuanrenminbi)。qidangshiipozhaogushiyinruleyimingjishitouzizhe，jiujiangshiguoziweiqixiajiujiangdingchuangrengou3yiyuandefashougufen。

zhongsunengyuandeshangshizhilupoweikanke，lishijinsinian。

zaozai2021nian3yue，gaigongsicengdijiaoshangjiaosuokechuangbanshangshishenqingbinghuoshouli；dantongnian8yueziyuanchehuileshangshishenqing。

jinnian2yue29ri，zhongsunengyuanzhuanzhangangjiaosuo，dijiaogangguzhaogushu，danyu8yue29rishixiao，dibiaoshizhongjingongsiweiqidujiabaojianren。

shige7geyue，zhongsunengyuanerdudibiaogangjiaosuo。11yue14ri，qitongguogangjiaosuolingxun。

2016nian7yue-2022nian12yue，zhongsunengyuanhejijinxingle8lunrongzi，leijirongzijinechaoguo39yiyuan。

招股书显示，重塑能源在上市后的股东架构中，林琦将持股13.74%，其控制的员工持股计划平台上海蔚清、上海蔚澜、上海蔚镜分别持股4.24%、1.39%、1.35%；中国石化(600028.SH/00386.HK)通过中石化资本持股13.53%。此外，一汽解放(000800.SZ)、宇通客车(600066.SH)、红杉中国等也有参股。

genjuyiwangyejijilu，zhongsunengyuandeshouruzhuyaolaizixiaoshouqingranliaodianchixitongjilingbujian；tigongqingranliaodianchigongchengkaifafuwu；xiaoshouqingnengzhuangbeijixiangguanlingbujianjiqita，zhuyaobaokuotigongshouhoufuwu。

2021-2023nianji2024nianqian5geyue，zhongsunengyuanfenbieshixianshouru5.24yiyuan、6.05yiyuan、8.95yiyuanyiji0.13yiyuan；xiangyingdejingkuisunfenbiewei6.54yiyuan、5.46yiyuan、5.78yiyuanhe4.09yiyuan，zongjichao20yiyuan。

tongqi，gaigongsihaiwaishouruzhunianzengjia。you2021niande550wanyuanzengzhi2022niande860wanyuan，bingjinyibuzengzhi2023niande2320wanyuan。

qizhong，xiaoshouqingranliaodianchixitongjilingbujianfenbiezhan2021-2023nianji2024nianqian5geyuezongshourude98%、94.9%、 95.8%ji71.8%。

qingranliaodianchixitongshiyizhongjiangqingqiheyangqitongguodianhuaxuefanyingzhuanhuaweidiannengdezhuangzhi，juyougaoxiao、dizao、lingwurandejishuyoushi。tazaiduogelingyuyouzheguangfandeyingyong，liruqiche、bianxieshifadianhegudingfadianzhandeng。

genjufuruositeshaliwenziliao，an2023nianqingranliaodianchixitongdexiaoshoushuchugonglv、zhongkadazaideqingranliaodianchixitongdezongxiaoshoushuchugonglv、zhongkadazaideqingranliaodianchixitongdezongxiaoshoue，zhongsunengyuanjunweijuzhongguoqingranliaodianchixitongshichangdiyi，shichangfenewei23.8%、42.4%、29.4%。

qingqishiyizhongtidainengyuan，juyouzainengliangzhuanhuanguochengzhonglingpaifang、xiaolvgao、nengliangmidugao、kedaguimochucundengyoudian。

qingnengyebeiyuwei“21shijidezhongjinengyuan”，jinnianlaiguoneiqingnengchanyeyinglaiqiansuoweiyoudefazhanjiyu。

jinnian3yue，zhengfugongzuobaogaoshoucitichu“jiakuaiqingnengchanyefazhan”，difanggejizhengfuyejiakuaichutailihaozhengce，zhizaigoujianwanzhengdeqingnengchanyelian，tuidongqingnengzaijiaotong、dianlihegongyedenglingyudeyingyong。

juzhaogushupilu，zhongguoqingnengxiaofeishichangguimo（anchanzhiji）you2018nianderenminbi2443yiyuanzengzhi2023nianderen minbi3552yiyuan，bingyujijiangzengzhi2028nianderenminbi5781yiyuan。

ciwai，zhongguoditanqingxiaofeishichangguimo（anchanzhiji）you2018niandeyuerenminbi208yiyuanzengzhi2023niandeyuerenminbi780yiyuan，fuhenianzengzhanglvwei30.3%，bingyujijiangdafuzengzhi2028nianderenminbi2677yiyuan，2023nianzhi2028niandefuhenianzengzhanglvwei28.0%。

raner，qingnengchanyedefazhanrengranmianlinyixiekunjing。

genjufuruositeshaliwendeziliao，chubufenranliaodianchiqichezhizaoshangwai，zhongguoqingnengjiazhilianzhongzhuyingyewuyuqingnengchanyeyouguandedabufenshichangcanyuzherengchuyukuisunzhuangtai。

zhuyaoshiyinweigaichanyerengchuyuxiangduizaoqijieduan，xuyaodalijinxingyanfayijixiaoshoujiyingxiaotouru，jinerxuyaodaliangcaiwuziyuan，qiegaichanyerengzhuyaoshuzhengcedaoxiang，shichangcanyuzhehuoduohuoshaodouyilaizhengfubutie，tongshixiangguanchanpindeshengchanchengbenxiangduijiaogao。

zhongsunengyuanzaizhaogushuzhongtiji，qisuozaidexingyeweixinxingxingye，ranliaodianchixitonghuoqingnengzhuangbeisuoyongdexinjishukenengbuchengshu。tangchuxianrenhezhongdachanpinquexian、guzhanghuoyouguanqingnengshichangdefumianbaodao，kenengsunhaiqishengyu，bingduitamendeyewu、caiwuzhuangkuangjijingyingyejizaochengbuliyingxiang。

氢能行业盈利较难，叠加A股IPO收紧、未盈利企业上市门槛提高，dangqianqingnengqiyegengqingxiangyuzaiganggumouqiushangshi。

今年11月15日，国富氢能(02582.HK)也顺利在香港联交所主板挂牌上市， 每股发售价65港元，开盘价为82.3港元/股，涨幅26.6%。截至当日收盘，国富氢能涨20%，报78港元/股，市值81.67亿港元(约合76.16亿元人民币)。

guofuqingnengyuzhongsunengyuanmingyunxiangsi。2022nianchushishangjiaosuo，zhejiaguhouerdudibiaogangjiaosuo；10yue28ri，qitongguoipolingxun。

guofuqingnengchengliyu2016nian6yue13ri，zongbuweiyujiangsuzhangjiagangshi，shiyijiaqingnengchuyunshebeizhizaoshang，yanfajizhizaoquanchanyejiazhiliandeqingnenghexinzhuangbei，yongyuqingnengdezhi、chu、yun、jia、yong。

除上述两家公司外，2023年，亿华通(688339.SH/02402.HK)、国鸿氢能(09663.HK)和金源氢化(02502.HK)也均在港交所上市。