--- title: "Xuyang Group and Hangyang Group Sign Strategic Cooperation Agreement to Build a New Ecosystem for the Hydrogen Energy Industry Chain" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/40260068.md" description: "Xuyang Group and Hangyang Group Sign Strategic Cooperation Agreement to Build a New Ecosystem for the Hydrogen Energy Industry Chain On April 24, 2026, Xuyang Group Co., Ltd. (referred to as "Xuyang Group") and Hangyang Group Co., Ltd. (referred to as "Hangyang Group") formally signed a strategic cooperation agreement in Hangzhou. Based in the Beijing-Tianjin-Hebei-Xiongan and Yangtze River Delta regions, the two parties will collaborate comprehensively and deeply across the country in areas such as the hydrogen energy supply system, localization of high-end equipment, technological innovation, and industrial investment, jointly promoting the high-quality development of China's hydrogen energy industry..." datetime: "2026-04-28T13:00:36.000Z" locales: - [en](https://longbridge.com/en/topics/40260068.md) - [zh-CN](https://longbridge.com/zh-CN/topics/40260068.md) - [zh-HK](https://longbridge.com/zh-HK/topics/40260068.md) author: "[亚太商讯那些事儿](https://longbridge.com/en/profiles/18018177.md)" --- # Xuyang Group and Hangyang Group Sign Strategic Cooperation Agreement to Build a New Ecosystem for the Hydrogen Energy Industry Chain Xuyang Group and Hangyang Group Sign Strategic Cooperation Agreement to Build a New Ecosystem for the Full Hydrogen Energy Industry Chain April 24, 2026, Xuyang Group Co., Ltd. (referred to as "Xuyang Group") and Hangyang Group Co., Ltd. (referred to as "Hangyang Group") formally signed a strategic cooperation agreement in Hangzhou. Based in the Beijing-Tianjin-Hebei-Xiongan and Yangtze River Delta regions, the two parties will collaborate comprehensively and deeply across the nation in areas such as hydrogen energy supply systems, localization of high-end equipment, technological innovation, and industrial investment, jointly promoting the high-quality development of China's hydrogen energy industry. Xuyang Group has over 30 years of deep accumulation in the field of industrial by-product hydrogen, being the world's largest independent coke producer and supplier; the world's largest coke oven crude benzene processor, the second-largest high-temperature coal tar processor and caprolactam producer (by capacity), and also China's largest coke oven gas-to-methanol producer and the largest high-purity hydrogen supplier in the Beijing-Tianjin-Hebei region (by output). China Xuyang Group (1907.HK) successfully listed on the Main Board of the Hong Kong Stock Exchange in March 2019, having formed a complete hydrogen energy industry chain covering "production - storage - transportation - refueling - application + R&D". Hangyang Group Co., Ltd. (002430.SZ) listed on the Shenzhen Stock Exchange in 2010, is a world-class supplier of air separation equipment and cryogenic petrochemical equipment, a pioneer and leader in China's gas industry, and also the manufacturer of China's first air separation unit; its production and sales volume of large and extra-large air separation units rank first globally, with overall technology reaching internationally leading levels, possessing leading advantages in gas operations and hydrogen technology R&D. This cooperation is a strategic-level integration of the two parties' advantageous resources, deeply integrating Xuyang's hydrogen source foundation and application scenarios with Hangyang's equipment technology and gas industry capabilities, injecting strong momentum into the ecological construction of the full hydrogen energy industry chain. **Focusing on Three Major Cooperation Directions, Unleashing New Momentum for Synergistic Development** This cooperation will focus on the joint construction of hydrogen energy sales and supply systems, the application of localized high-end equipment, and technological innovation and industrial implementation. Through business alignment and resource synergy, the two parties will build a three-level supply system of "liquid hydrogen production base + regional hydrogen storage hub + hydrogen refueling station network", jointly expanding terminal markets such as industry, transportation, electronics, pharmaceuticals, and aerospace. Simultaneously, the two parties will jointly advance the localization process of key equipment and systems in the hydrogen energy field, and jointly establish a hydrogen energy equipment testing and technological innovation center at Xuyang's Dingzhou hydrogen energy production base, focusing on the verification and tackling of core components for liquid hydrogen and hydrogen refueling stations, and jointly applying for national-level scientific research projects and industry standards. To further deepen cooperation, the two parties also plan to jointly invest in establishing a joint venture company, mainly engaged in hydrogen/liquid hydrogen sales, hydrogen energy equipment manufacturing, and technical services, accelerating the industrial implementation of scientific and technological achievements. **Cooperation Prospects: From Resource Advantage to Full-Chain Leadership** This strategic cooperation marks the accelerated leap of Xuyang Group's hydrogen energy industry from "resource advantage" to "full-chain advantage". Through the strong alliance with Hangyang Group, Xuyang will effectively address key gaps in high-end equipment and gas operation networks, significantly enhance the market coverage capability and circulation efficiency of hydrogen energy products, and, by leveraging the large-scale application of localized equipment, reduce costs across the entire chain and strengthen core competitiveness. For Hangyang Group, the cooperation will help it deeply enter the rich hydrogen source of industrial by-product hydrogen from the traditional air separation and cryogenic equipment fields, expand the application scenarios for liquid hydrogen and high-purity hydrogen, and seize the market opportunity for hydrogen energy equipment and gas services. Looking to the future, the two parties will use this cooperation as a starting point to build a replicable and scalable hydrogen energy industry ecosystem. The future establishment of a joint venture company will bring a long-term and stable business growth pole for both parties, accelerating Xuyang Group's transformation from a coking leader to a globally leading clean energy solution provider, while also helping Hangyang Group achieve industrial chain extension from equipment manufacturing to "equipment + service + operation". Under the guidance of the national "dual carbon" goals, the partnership between Xuyang and Hangyang will set a new benchmark for the high-end, large-scale, and international development of China's hydrogen energy industry. Tong Jun, Deputy Party Secretary of Hangyang Group, stated: "Xuyang Group has unique advantages in industrial by-product hydrogen and hydrogen energy application scenarios. Hangyang will fully support the in-depth cooperation between the two parties to jointly promote China's hydrogen energy industry towards high-end, large-scale, and international development." Zhang Yingwei, Senior Vice President of Xuyang Group, stated: "Hangyang Group possesses world-class technical strength in cryogenic equipment and gas operations. This cooperation is a key leap for Xuyang's hydrogen energy industry. We will fully leverage our complementary advantages to accelerate the creation of a hydrogen energy industry ecosystem and contribute to the realization of the national 'dual carbon' goals." Regarding the strategic cooperation agreement, the two parties have established a high-level communication mechanism and a joint working group to ensure efficient implementation of the cooperation. In the future, Xuyang Group will continue to uphold the principles of openness, synergy, and win-win, joining hands with excellent partners in the industry chain to contribute Xuyang's strength to building a clean, low-carbon, safe, and efficient modern energy system. ### Related Stocks - [002430.CN](https://longbridge.com/en/quote/002430.CN.md) - [01907.HK](https://longbridge.com/en/quote/01907.HK.md)