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Baofeng Energy’s hydrogen production via water electrolysis has been put into operation; the company plans to invest 1 billion yuan in further hydrogen-related projects. According to China Securities Network, on April 18, 2021, Baofeng Energy issued a statement indicating its intention to invest 1 billion yuan to establish a wholly-owned subsidiary focused on hydrogen energy. The business scope mainly includes the processing, production, transportation, storage, and sales of hydrogen. The company uses green hydrogen produced from solar power in chemical manufacturing, thereby replacing fossil fuels with new energy sources and reducing coal consumption and carbon dioxide emissions. Since 2018, Baofeng Energy has begun to develop its hydrogen energy business, gradually deepening the integration of hydrogen energy with the company’s circular economy industry chain. The company, in partnership with the Yanbao Charity Foundation, donated 100 million yuan to establish the \"Tsinghua University Global Climate Change and Green Development Special Fund,\" aiming to support experts led by Ambassador Xie Zhenhua in conducting research on green and low-carbon development as well as measures to address global climate change. Promote the transition to clean, low-carbon energy and global climate governance. In 2019, Baofeng Energy took a proactive approach in the hydrogen energy sector by launching a demonstration project for 200MW of photovoltaic power generation, as well as hydrogen production through water electrolysis at a rate of 20,000 standard cubic meters per hour, along with integrated applications of hydrogen. This project adopts a new model of \"new energy power generation + electrolysis of water to produce green hydrogen and oxygen for direct supply to the coal chemical industry.\" The hydrogen produced by the electrolytic water hydrogen production project is integrated with the company’s existing coal chemical facilities; part of this hydrogen is supplied directly to the methanol production units, thereby helping to reduce costs and improve efficiency while also facilitating energy savings and emission reduction. On the other hand, by integrating the urban hydrogen-powered demonstration bus routes in Yinchuan, the hydrogen-powered commuter buses and new-energy buses in the Ningdong Energy and Chemical Industry Base, as well as the hydrogen-powered commuter buses, hydrogen-powered heavy trucks, and hydrogen-powered buses provided by various enterprises, it is possible to achieve an integrated use of \"green hydrogen\" across the entire process – from solar-powered hydrogen production and storage, to the production of high-end chemical materials through integration with modern coal chemical processes, hydrogen storage and transportation, and finally hydrogen utilization. On February 28, 2021, the 10×1000 m3/h hydrogen production facility for solar electrolysis and energy storage, as part of the Ningxia Baofeng Energy research and demonstration project, began trial operation. At present, after 168 hours of continuous standard operation and testing, the safety, quality, and cost of the equipment and products related to the aforementioned project are under control. It is estimated that the current comprehensive cost of hydrogen production at Baofeng Energy is around 1.34 yuan per standard cubic meter; the production operations are meeting the set targets, and costs are expected to continue falling in the future. On April 20, Baofeng Energy Group announced that the **-level comprehensive demonstration project for solar-powered water electrolysis for hydrogen production has officially gone into operation.