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Table_MainInfo/2023 02 28 Table_InvestInfo Table_QuoteInfo 2121.222444.292767.363090.433413.503736.572022/3 2022/6 2022/9 2022/12 Table_ReportInfo 2023.02.23 2023 1 2023.02.08 2023.02.14 Table_AuthorInfo:Tel:(021)23219404 Email:S0850511010010:Tel:(021)23154143 Email:S0850517070005:Tel:(021)23154505 Email:S0850519080001:Tel:(0755)82764281 Email:S0850515040001:Tel:(021)23219635 Email:S0850122070051 Table_Summary 2022 3 2021 2035 2021 9400 62%19%18%0.04%33%27%0.01%4%10%3%23%2030 1.40 2040 3.85 2050 6.60 2020 8 2021 4100 3300 57%22%18%1.4%1.5%2030 3715 5%2060 1.3 20%1 2 2 3 Table_StockInfo EPS 2021 2022E 2023E 600028 0.59 0.55 0.55 002648 1.78 1.30 2.55 002221 0.72 0.94 1.55 688339-U-1.37 1.48 2.09 资料来源：Wind，海通证券研究所 2 1.5 1.1.5 1.2.5 2.8 2.1.8 3.8 3.1.8 3.2.11 3.2.1.14 3.2.2.14 3.3.15 3.3.1.16 3.3.2.17 4.21 4.1.21 4.2.22 4.3.23 4.4.23 5.24 XVEVzQnQmPqRoQnOrMqPoPaQbPbRoMnNmOnOlOoOoMeRnPvN7NrQoQvPqQrOxNrMmR 3 1.5 2.8 3.9 4.11 5.13 6/kg.13 7 2021.14 8 2021.14 9.15 10 2020.17 11 2020.17 12.18 13.18 14.18 15.19 16.19 17.24 18 2017-2022.24 4 1.5 2.6 3.7 4.10 5.12 6 2021-2035.15 7.16 8.17 9.20 10.22 11 2022.23 12.23 5 1.1.1 1 1 2 3 1 2 1 142MJ/kg 3 4 5 2 50-60%80-90%20-30%3 1 3 3 4 2019 2020 Hyundaimotor Group 2017 1.2 Paracelsus 1766 Cavendish 1784 Cavendish 1783 Lavoisier Hydrogen Lavoisier 1 6 0.14%()107 0.61cm2/s 4 1H 0.08988g/L 2 0.08988g/L-259.23-252.77 20 101kPa 100ml 1.82ml 1.82%0.61cm2/s 1 2 3()()7 3 H+H-H-HMn CO 5 H-H 104.2kcal/mol 4-74%4-94%-250-400 500 25 H 2 Cl 2 HCl 22.0kcal/mol 25 H 2 1/2O 2 68.4kcal/mol 3000 250(MnO)CuO IVA VH H-H 8 2.2.1 95%CCS 2 3.3.1 1 9(CCUS)CCUS 2 350-450 54%-59%PSA 60%(PDH)60%-95%3 AE PEM SOEC 3 Types of hydrogen fuel Energy education-253 10 4,253 C,(wt%)1.05.2 5.7 5.07.2 1.04.5(kg/m3)2535 70.6 4045 3580,wt%wt weight 2030 2050 2 1.0 4.0MPa 7 8.4 14 70 11/4 IRENA-3.2 1973 10 OPEC 1960 2000 2010 2014 2005 2020 2030 2050(FCHJU)2014-2020 6.65 2013 2014-2020 Horizon2020 220 2015 600 970 2 12 2016 12 2019 2.5 18 2030 400 2021 55%30%75/kg Hydrogen Central 2022 45 2021 22%254 105 44 17 2020 5 2020 2024 6 100 2025 2030 2030 40 1000 2030 2050 2050 2020 2030 240 420 2200-3400 80-120 110 650 2020 2050 1800-4700 70 1970 1.0?2019 FCHEA 2025 1300 12.5 2020 95%5%57%38%2%4%105/kg Hydrogen Central 2022 11 89 California 70 2022 8 2.5-4kgCO2/kgH2 60/kg 1.5-2.5kgCO2/kgH2 75/kg 0.45-1.5kgCO2/kgH2 1/kg 0.45kgCO2/kgH2 3/kg 2023 1 1 Energy News 13 320 5 3.001.000.750.60$0$1$2$3$4 0.450.45-1.51.5-2.52.5-4/kg)CO2 kgCO2/kg H2)US Inflation Reduction Act Climate&Energy Features and Potential Implications BCG 6/kg US Inflation Reduction Act Climate&Energy Features and Potential Implications BCG 1973 1981 1990 2013 12 2014 6 2050 2020 2015 NEDO 2018 20 2020 30 2030 2030 400 2020 10 40 2030 2022 12 8 14 2023 1 31 TIJAN 3.2.1 2021 9400 2021 62%19%18%0.04%33%27%0.01%3%10%3%23%7 2021 62%19%0.70%0.04%18%Renewable hydrogen for the chemical industry 8 2021 33%27%0.01%3.48%10%3%23%Renewable hydrogen for the chemical industry 3.2.2 2030 1.40 2040 3.85 2050 6.60 2020 8 15 9 Global Hydrogen Flows Hydrogen fornet-zero Hydrogen Council 3.3 2000 973 2001 863 2006 863 2019 3 2020 4 2020 9 2021 10 2022 3 2021 2035 6 2021-2035 2025 2025 5 10-20/100-200/2030 2035 2021-2035 2021-2035 1 16 2+10 7“”70MPa/2021-2035 3.3.1 2021 4100 3300 2020 57%22%18%1.42%1.5%2020 32%27%25%0.06%2%14%17 10 2020 57%18%22%1.42%2%2030 100 11 2020 25%32%27%0.06%2%14%2020 3.3.2 2025 3500 35 2030 3800 500 2060 12500 10000 1 2025 0.3/25/2030 0.2/15/CCUS 8%GW GW/2025 3500 35 1 1000 10 25 2030 3846 500 13 1600 80 15 2060 12500 10000 80 6600 500 7 2020 2025 1%2000 5.0/2 2025 1%2030 13%90%CCUS 2060 80%CCUS 16%4%18 12 2020 2030 3715 5%2060 1.3 20%1 2060 7794 60%4051 31%585 4%600 5%2 FCEV IEA 36-42%16-28%30-35%FCEV 13 0%1%2%3%4%5%6%020004000600080001000012000140002020 2030E 2040E 2050E 2060E%2020 14 31%60%4%5%2020 5%15%2060 4000 2%2035 2060 15%19 2050 2060 3570 2030 2050 6%120 2060 280 2060 200 15 0%10%20%30%40%50%60%70%80%0500100015002000250030003500400045002020 2025E 2030E 2035E 2040E 2045E 2050E 2055E 2060E%2020 2060 7794 16 2020 1 70%20 60%2 3 2030 4 2060 2800 1 2020 10.65 50%2030 2060 60%30%1400 2 2060 1560 40%87.5%2060 35%1980 9 100 120 30 50 1860 300 30 _RMI 2022 65.22%2021 0.50 2030 7.9 2030 2060 20%2060 585 21 10%2060 600 4.1 2 2 3 4.1 390 11%2021 PEM 11 3 42 2022 98 2025 600 12/GB/T37244 500 22 20 10 2018 7 2019 7 2021 1 4 2021 11 300 6.18 2 2023 6 2022 2 2022 2022 8 CCUS CCUS CCUS 100 2022 9 2022 12 PEM PEM 2022 30.7 2022 30.7 2022 1 2 3 4.2 83%300kg 580-640kg 250 14 90 PDH 7.2 21.2 1 22 G1G2 25 G3G4 2 3 DMC 2021 3 20 80 PDH 80 12 3000 11000 1 2 3 23 4.3 LPG-PDH-PP 1 2 60/PDH 3 40/PP 1 8000m/h 2 1 60/PDH 1 40/PP 1 1000Kg/12h 3 1 60/PDH 1 40/PP 1 20/26/60/ABS 11 2022 PDH%2x60 2x2 0.80 79.4 x1 1x60 1x2 0.42 17.3 x1()1x60 1x2-2022 PDH 60/2.7/PDH 2/2022 1-9 220 1.8 1.7 2.34 87%2022 9 2022 10 24500 49%12+5%-15%1 2 3 4 4.4 2023 A+H 2012 2022 8 1 IPO 2023 1 12 A+H 240kW 24 757W/kg 2022 2022 6 577 93 2022 72000 77000 14.40%22.34%2021 2022 1000 17 Wind 18 2017-2022-80%-60%-40%-20%0%20%40%60%80%100%120%140%050010001500200025003000350040002017 2018 2019 2020 2021 2022%1 2 3 4 5.25 Table_Analysts Table_Reports,A,1.6 6 2.A 500 10%-10%10%-10%6 10%-10%10%-10%前沿报告库是中国新经济产业咨询报告共享平台。行业范围涵盖新一代信息技术、5G、物联网、新能源、新材料、新消费、大健康、大数据、智能制造等新兴领域。为企事业单位、科研院所、投融资机构等提供研究和决策参考。扫一扫免费获取海量报告
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