<p><strong>普拉格能源</strong>（PLUG 11.30%）的使命是通过其创新的燃料电池提供可持续能源。该公司希望利用其氢气技术在可再生能源市场中获利。根据德勤咨询的估计，到 2050 年，绿色氢气市场可能达到 1.4 万亿美元，这为普拉格能源提供了巨大的上行潜力。</p>
<p>尽管如此，该公司近年来面临重大障碍。在 2021 年股价曾高达 75 美元后，股价暴跌 97%，自那时以来未能恢复。如果你考虑购买普拉格能源（或已经购买），以下是你应该考虑的事项。</p>
<h2>购买或持有普拉格能源的理由</h2>
<p>普拉格能源旨在通过其氢燃料电池在不断发展的可再生能源领域占据一席之地。作为传统电池的替代品，普拉格能源提供清洁高效的能源，碳排放极少。</p>
<p>该公司开发的产品利用电解水产生氢气，创造绿色燃料来源。他们的先进液化和低温系统促进了氢气的高效储存和运输，使燃料在各种应用中变得可及和实用。</p>
<p>其产品之一是 GenDrive，这是一种为物料搬运车辆（如叉车）设计的氢动力燃料电池系统。其 GenSure 系统旨在提供可靠的备用和电网支持电源解决方案，确保关键基础设施在大规模停电期间保持运行。</p>
<p>该公司拥有 <strong>亚马逊</strong> 和 <strong>沃尔玛</strong> 等行业巨头作为客户和投资者，这可能为其提供稳定的收入来源和长期增长机会。在大型公司的支持下，普拉格能源可能有机会受益于预计到 2050 年氢气需求将增加两到四倍的趋势，麦肯锡对此进行了估计。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDE0NDUvaHlkcm9nZW4tZW5lcmd5LWdldHR5LmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDE0NDUvaHlkcm9nZW4tZW5lcmd5LWdldHR5LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<p>长期增长机会使普拉格能源的股票具有吸引力，但其财务状况值得关注。</p>
<h2>卖出普拉格能源的理由</h2>
<p>普拉格能源近年来经历了稳健的收入增长，去年收入增长 27%，达到 8.91 亿美元。然而，目前的形势却呈现出不同的画面。在 2024 年的前三个季度，收入骤降至 4.37 亿美元，较去年下降了 35%。</p>
<p>这一下滑主要归因于公司在氢气基础设施销售方面的困难。今年，该公司仅完成了 11 个氢气站的安装，远低于去年的 41 个安装。这一减少反映出氢经济的发展速度低于预期。</p>
<p>此外，普拉格能源还面临着不断上升的亏损。截至 9 月 30 日，该公司报告的营业亏损为 7.2 亿美元，略高于去年 718 万美元的亏损。在过去 12 个月中，普拉格能源的总亏损高达 14 亿美元。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5e5f7b9fc9d9c7a977597b9df532d00e.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5e5f7b9fc9d9c7a977597b9df532d00e.png"/></p>
<p>PLUG 收入（TTM），数据来源于 YCharts；TTM = 最近 12 个月。</p>
<p>针对这些挑战，该公司已启动成本削减策略，并聘请 Dean Fullerton 担任新任首席运营官（COO）。凭借他在亚马逊各地区监督工程服务的经验，Fullerton 预计将提升普拉格能源的运营效率并优化其供应链。</p>
<p>管理层已调整了未来一年的收入预测，预计在 8.5 亿至 9.5 亿美元之间，远低于之前 15 亿美元的预测。</p>
<p>更为乐观的是，能源部（DOE）在 5 月向普拉格能源授予了一笔 16.6 亿美元的有条件贷款，以资助六个清洁氢气工厂的建设。这些工厂将生产氢气，供物料搬运、运输和工业领域的客户使用。</p>
<p>然而，随着政治动态的变化，尤其是特朗普政府将在 1 月即将就职，首席执行官 Andy Marsh 希望在过渡之前确保这笔贷款。如果未能如愿，可能会严重阻碍该公司，而该公司已经面临现金流挑战。</p>
<h2>购买、持有还是卖出普拉格能源？</h2>
<p>普拉格能源的技术可能有助于进一步发展可再生能源行业。然而，由于收入下降和令人失望的前景，该公司面临重大挑战。最新的分析师预测显示，该公司可能要到 2028 年才会盈利。</p>
<p>如果你对普拉格能源的技术和前景感兴趣，它可能是一个值得加入观察名单并随时间跟踪的股票。我希望看到销售额的改善和更高效的运营，以帮助降低成本。然而，考虑到未来的不确定性和其缺乏财务成功，我认为目前该股票是卖出。</p>

普拉格能源

<p>普拉格能源专注于通过氢技术实现可持续能源，但自 2021 年以来，其股票已下跌 97%。尽管绿色氢气市场正在增长，该公司面临着收入下降和亏损增加的挑战，预计 2024 年收入将下降 35%。普拉格能源已启动成本削减策略，并获得了美国能源部对氢气工厂的有条件贷款。分析师预测该公司可能要到 2028 年才能实现盈利，因此建议因财务不确定性而出售该股票</p>

<p><strong>Plug Power</strong>(PLUG 11.30%) is on a mission to deliver sustainable energy with its innovative fuel cells. The company looks to capitalize on the renewable energy market with its hydrogen technology. According to an estimate by Deloitte Consulting, the green hydrogen market could reach $1.4 trillion by 2050, giving Plug Power massive upside potential.</p>
<div class="lb-trans"><p><strong>普拉格能源</strong>（PLUG 11.30%）的使命是通过其创新的燃料电池提供可持续能源。该公司希望利用其氢气技术在可再生能源市场中获利。根据德勤咨询的估计，到 2050 年，绿色氢气市场可能达到 1.4 万亿美元，这为普拉格能源提供了巨大的上行潜力。</p>
</div><p>Even so, the company has faced significant hurdles in recent years. After reaching as high as $75 per share in 2021, the stock has come crashing down to Earth, plummeting 97%, and has failed to recover since then. Here's what you should consider if you are thinking of buying Plug Power (or if you already have).</p>
<div class="lb-trans"><p>尽管如此，该公司近年来面临重大障碍。在 2021 年股价曾高达 75 美元后，股价暴跌 97%，自那时以来未能恢复。如果你考虑购买普拉格能源（或已经购买），以下是你应该考虑的事项。</p>
</div><h2>Reason to buy or hold Plug Power</h2>
<div class="lb-trans"><h2>购买或持有普拉格能源的理由</h2>
</div><p>Plug Power aims to position itself in the evolving renewable energy sector with its hydrogen fuel cells. As an alternative to conventional batteries, Plug Power provides clean and efficient energy with minimal carbon emissions.</p>
<div class="lb-trans"><p>普拉格能源旨在通过其氢燃料电池在不断发展的可再生能源领域占据一席之地。作为传统电池的替代品，普拉格能源提供清洁高效的能源，碳排放极少。</p>
</div><p>The company develops products that use electrolysis to produce hydrogen from water, creating a green fuel source. Their advanced liquefaction and cryogenic systems facilitate the efficient storage and transportation of hydrogen gas, making the fuel accessible and practical for various applications.</p>
<div class="lb-trans"><p>该公司开发的产品利用电解水产生氢气，创造绿色燃料来源。他们的先进液化和低温系统促进了氢气的高效储存和运输，使燃料在各种应用中变得可及和实用。</p>
</div><p>One of its products is GenDrive, a hydrogen-powered fuel cell system engineered for material-handling vehicles, such as forklifts. And its GenSure system aims to provide a reliable backup and grid-support power solution, ensuring that crucial infrastructure remains operational during broader outages.</p>
<div class="lb-trans"><p>其产品之一是 GenDrive，这是一种为物料搬运车辆（如叉车）设计的氢动力燃料电池系统。其 GenSure 系统旨在提供可靠的备用和电网支持电源解决方案，确保关键基础设施在大规模停电期间保持运行。</p>
</div><p>The company counts industry giants like <strong>Amazon</strong> and <strong>Walmart</strong> among its customers and investors, which could provide it with a steady revenue stream and longer-term growth opportunities. With support from major companies, Plug Power could be in position to benefit from the projected increase in hydrogen demand, which McKinsey estimates could rise by two to four times by 2050.</p>
<div class="lb-trans"><p>该公司拥有 <strong>亚马逊</strong> 和 <strong>沃尔玛</strong> 等行业巨头作为客户和投资者，这可能为其提供稳定的收入来源和长期增长机会。在大型公司的支持下，普拉格能源可能有机会受益于预计到 2050 年氢气需求将增加两到四倍的趋势，麦肯锡对此进行了估计。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDE0NDUvaHlkcm9nZW4tZW5lcmd5LWdldHR5LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F801445%2Fhydrogen-energy-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>The long-term growth opportunity makes Plug Power stock appealing, but its financial situation is something to keep an eye on.</p>
<div class="lb-trans"><p>长期增长机会使普拉格能源的股票具有吸引力，但其财务状况值得关注。</p>
</div><h2>Reason to sell Plug Power</h2>
<div class="lb-trans"><h2>卖出普拉格能源的理由</h2>
</div><p>Plug Power has experienced solid top-line growth in recent years, with revenue increasing by 27% last year to $891 million. However, the current landscape paints a different picture. In the first three quarters of 2024, revenue plummeted to $437 million, reflecting a 35% decline compared to last year.</p>
<div class="lb-trans"><p>普拉格能源近年来经历了稳健的收入增长，去年收入增长 27%，达到 8.91 亿美元。然而，目前的形势却呈现出不同的画面。在 2024 年的前三个季度，收入骤降至 4.37 亿美元，较去年下降了 35%。</p>
</div><p>This downturn is mainly attributable to the company's struggles with hydrogen infrastructure sales. In the current year, it completed only 11 hydrogen site installations, a stark contrast to the 41 installations from the previous year. This reduction illustrates the slower-than-anticipated development of the hydrogen economy.</p>
<div class="lb-trans"><p>这一下滑主要归因于公司在氢气基础设施销售方面的困难。今年，该公司仅完成了 11 个氢气站的安装，远低于去年的 41 个安装。这一减少反映出氢经济的发展速度低于预期。</p>
</div><p>Moreover, Plug Power is grappling with rising losses. As of Sept. 30, the company reported an operating loss of $720 million, slightly worse than the $718 million loss from the prior year. Over the last 12 months, Plug Power's total losses are a staggering $1.4 billion.</p>
<div class="lb-trans"><p>此外，普拉格能源还面临着不断上升的亏损。截至 9 月 30 日，该公司报告的营业亏损为 7.2 亿美元，略高于去年 718 万美元的亏损。在过去 12 个月中，普拉格能源的总亏损高达 14 亿美元。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5e5f7b9fc9d9c7a977597b9df532d00e.png" alt="" original-src="https://media.ycharts.com/charts/5e5f7b9fc9d9c7a977597b9df532d00e.png"/></p>
<p>PLUG revenue (TTM), data by YCharts; TTM = trailing 12 months.</p>
<div class="lb-trans"><p>PLUG 收入（TTM），数据来源于 YCharts；TTM = 最近 12 个月。</p>
</div><p>In response to these challenges, the company has initiated cost-reduction strategies and hired Dean Fullerton as the new chief operating officer (COO). With his experience overseeing engineering services for Amazon across various regions, Fullerton is expected to enhance Plug Power's operational efficiencies and optimize its supply chain.</p>
<div class="lb-trans"><p>针对这些挑战，该公司已启动成本削减策略，并聘请 Dean Fullerton 担任新任首席运营官（COO）。凭借他在亚马逊各地区监督工程服务的经验，Fullerton 预计将提升普拉格能源的运营效率并优化其供应链。</p>
</div><p>Management has adjusted its revenue projections for the coming year, estimating between $850 million and $950 million -- well below its previous estimates of $1.5 billion.</p>
<div class="lb-trans"><p>管理层已调整了未来一年的收入预测，预计在 8.5 亿至 9.5 亿美元之间，远低于之前 15 亿美元的预测。</p>
</div><p>On a more promising note, the Department of Energy (DOE) awarded Plug Power a conditional loan of $1.66 billion in May to finance the construction of six clean hydrogen plants. These will produce hydrogen intended for use by clients within the material handling, transportation, and industrial sectors.</p>
<div class="lb-trans"><p>更为乐观的是，能源部（DOE）在 5 月向普拉格能源授予了一笔 16.6 亿美元的有条件贷款，以资助六个清洁氢气工厂的建设。这些工厂将生产氢气，供物料搬运、运输和工业领域的客户使用。</p>
</div><p>However, with the political dynamics shifting, particularly with the Trump Administration's impending inauguration in January, CEO Andy Marsh looks to secure this loan before the transition. Failure to do so could significantly hinder the company, which is already facing cash flow challenges.</p>
<div class="lb-trans"><p>然而，随着政治动态的变化，尤其是特朗普政府将在 1 月即将就职，首席执行官 Andy Marsh 希望在过渡之前确保这笔贷款。如果未能如愿，可能会严重阻碍该公司，而该公司已经面临现金流挑战。</p>
</div><h2>Buy, hold, or sell Plug Power?</h2>
<div class="lb-trans"><h2>购买、持有还是卖出普拉格能源？</h2>
</div><p>Plug Power's technology could help further develop the renewable energy industry. However, the company faces significant challenges due to declining revenue and disappointing forward-looking projections. Most recent projections from analysts show that it may not be profitable until 2028.</p>
<div class="lb-trans"><p>普拉格能源的技术可能有助于进一步发展可再生能源行业。然而，由于收入下降和令人失望的前景，该公司面临重大挑战。最新的分析师预测显示，该公司可能要到 2028 年才会盈利。</p>
</div><p>If you're intrigued by Plug Power's technology and prospects, it could be a stock to add to your watch list and track over time. I would like to see improved sales and more efficient operations that help bring down costs. However, given the uncertainties ahead and its lack of financial success, I'd say the stock is a sell right now.</p>
<div class="lb-trans"><p>如果你对普拉格能源的技术和前景感兴趣，它可能是一个值得加入观察名单并随时间跟踪的股票。我希望看到销售额的改善和更高效的运营，以帮助降低成本。然而，考虑到未来的不确定性和其缺乏财务成功，我认为目前该股票是卖出。</p>
</div>

普拉格能源：是该买入、卖出还是持有？