CITIC Securities: Investment in green methanol production capacity accelerates, industry prosperity increases.

CITIC Securities stated that leading wind power enterprise Goldwind Technology announced an investment of 18.9 billion yuan to build an integrated project for wind, hydrogen, and ammonia, releasing optimistic expectations for the industry's prospects. We believe that under the promotion of the EU carbon emission trading system and the IMO shipping industry's net zero emission framework, the shipping industry will create a market space of hundreds of billions of yuan for green methanol. Taking into account the catalyzing effect of China's "dual carbon" goals entering the sprint phase, the prosperity of the green methanol industry is expected to significantly increase. It is recommended to focus on core equipment suppliers for green methanol projects and project investors with cost and first-mover advantages.