香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：2402） 2025年第一季度報告 北 京 億 華 通 科 技 股 份 有 限 公 司（「本公司」或「公 司」）董 事（「董 事」）會（「董事會」）及 全 體 董 事 保 證 本 報 告 內 容 不 存 在 任 何 虛 假 記 載、誤 導 性 陳 述 或 者 重 大 遺 漏，並 對其內容的真實性、準確性和完整性依法承擔法律責任。 重要內容提示 本公司董事會、監事會及董事、監事、高級管理人員保證季度報告內容的真實、 準確、完整，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法 律責任。 本 公 司 負 責 人、主 管 會 計 工 作 負 責 人 及 會 計 機 構 負 責 人（會 計 主 管 人 員）保 證 本 季度報告中財務信息的真實、準確、完整。 本次第一季度財務報表未經審計。 – 1 – 一、主要財務數據 （一）主要會計數據和財務指標 ...

公司全面推行精細化管理降低單位產品成本，力圖介入上游氫源環節實現從燃料電池系統到氫氣供 應 的 產 業 鏈 協 同 運 作，增 強 公 司 的 綜 合 競 爭 力，提 升 抗 風 險 能 力。但 如 果 未 來 行 業 發 展 未 達 預 期 導 致市場需求持續下滑，或行業競爭進一步加劇，如公司不能獲得足夠多的訂單並擴大銷售至公司扭 虧的規模經濟水平，虧損態勢可能延續。 2. 經營性現金流持續為負的風險 二、公司上市時未盈利且尚未實現盈利 公 司 採 用《上 海 證 券 交 易 所 科 創 板 股 票 上 市 規 則》第2.1.2條 第（四）項 的 標 準 上 市，上 市 時 尚 未 盈 利。 公 司2024年度實現營業收入為人民幣36,667.14萬 元；歸 屬 於 上 市 公 司 所 有 者 的 淨 虧 損 為 人 民 幣 45,643.29萬元；歸屬於上市公司所有者的扣除非經常性損益的淨虧損為人民幣54,275.70萬元。報告 期內公司尚未實現盈利。 三、重大風險提示 年 報 2024 1、 業績虧損的風險 二零二四年年報 重要提示 一、北 京 億 華 通 科 技 股 份 有 限 公 司（「本 公 司」 ...

Financial Performance - Total revenue for 2024 was RMB 366.67 million, a decrease of 54.21% year-on-year[3] - Net loss attributable to shareholders for 2024 was RMB 456.43 million, compared to a net loss of RMB 243.20 million in the same period last year[3] - Basic loss per share for 2024 was RMB 1.97, compared to RMB 1.48 in the previous year[3] - The company reported a net loss of RMB 540,264,195.14 for 2024, compared to a net loss of RMB 300,077,038.04 in 2023, indicating a worsening of 80.0%[6] - Basic and diluted earnings per share for 2024 were both RMB (1.97), compared to RMB (1.48) in 2023, representing a decline of 33.1%[7] - The company has not declared any final dividends for the year ended December 31, 2024, consistent with the previous year[28] Assets and Liabilities - Cash and cash equivalents as of December 31, 2024, amounted to RMB 722.23 million, an increase from RMB 609.22 million in 2023[4] - Short-term borrowings increased to RMB 762.43 million from RMB 586.61 million in the previous year[5] - Total assets as of December 31, 2024, were RMB 4.78 billion, down from RMB 4.95 billion in 2023[4] - Total liabilities as of December 31, 2024, were RMB 1.94 billion, compared to RMB 1.54 billion in the previous year[5] - Shareholders' equity attributable to the company was RMB 2.56 billion, down from RMB 3.04 billion in 2023[5] Revenue and Costs - Total operating revenue for the year ended December 31, 2024, was RMB 366,671,355.92, a significant decrease of 54.3% compared to RMB 800,701,885.77 in 2023[6] - Total operating costs decreased to RMB 706,485,700.32 from RMB 968,656,768.22, reflecting a reduction of 27.0%[6] - The company's main business revenue for the year ending December 31, 2024, is reported at 363,670,191.00, a decrease from 799,191,040.48 in 2023, reflecting a decline of approximately 54.5%[22] - The total operating costs for the year ending December 31, 2024, amount to 320,955,128.57, down from 552,190,945.49 in 2023, indicating a reduction of about 41.9%[22] - The company's main business costs for the year ending December 31, 2024, are 319,457,850.76, down from 552,046,700.65 in 2023, indicating a significant cost reduction[22] Impairment and Other Income - The company experienced a significant increase in credit impairment losses, which rose to RMB (201,142,245.18) from RMB (99,482,634.25), reflecting a 102.0% increase[6] - Other income increased to RMB 51,772,241.34 from RMB 24,856,478.84, marking a growth of 108.2%[6] - The company reported a total impairment loss of RMB 70.17 million for the year ended December 31, 2024, compared to RMB 62.92 million in 2023[24] Research and Development - The company has ongoing investments in new technologies and product development, although specific figures were not disclosed in the report[3] - The company emphasized ongoing research and development in fuel cell technology, focusing on environmental adaptability, durability, and reliability[30] - The company is collaborating with universities and research institutions to advance hydrogen fuel cell applications, including a project in Xinjiang[30] - Research and development expenses were RMB 97,013,572.48, down 30.9% from RMB 140,907,189.33 in the previous year, indicating a focus on cost management[6] Corporate Governance and Compliance - The financial statements were prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations[10] - The company is committed to high standards of corporate governance to enhance shareholder value and accountability[41] - All directors and supervisors adhered to the standard code of conduct regarding securities trading during the reporting period[42] - The company has not engaged in any buybacks, sales, or redemptions of its listed securities during the reporting period[44] Future Plans and Market Strategy - The company aims to optimize fuel cell systems and core components, improving performance in extreme weather, high temperature resistance, durability, reliability, energy conversion efficiency, safety, and cost-effectiveness[32] - The company plans to strategically expand its customer base and regional coverage to increase market share, focusing on commercial heavy-duty applications such as heavy trucks[33] - The company intends to strengthen its supply chain by deepening cooperation with well-known suppliers and pursuing vertical integration to reduce raw material costs and ensure supply chain stability[34] - The company will enhance corporate management and operational efficiency to better respond to market challenges and opportunities, optimizing resource allocation and reducing operational costs[35] - The company plans to extend integration along the industrial chain to enhance comprehensive strength and achieve sustainable development in line with national hydrogen energy policies[36] Market Outlook - By the end of 2024, the company expects the national sales volume of fuel cell vehicles to reach 5,405 units, with 163 models equipped with its fuel cell systems, leading the industry[31] - The company anticipates that by 2035, the number of fuel cell vehicles in China will exceed 1 million, indicating significant growth potential in the fuel cell industry[32] Share Capital and Offerings - The company increased its share capital by issuing 66,186,309 new shares, resulting in a total registered capital of 231,652,081 shares as of July 2024[43] - The net proceeds from the global offering amounted to approximately HKD 1,022 million after deducting underwriting fees and other expenses[45] - The company plans to gradually utilize the net proceeds from the global offering according to the purposes outlined in the prospectus dated December 29, 2022[45] Audit and Reporting - The financial data disclosed has been agreed upon with auditors, and the board's audit committee has reviewed the unaudited annual performance announcement for the year ending December 31, 2024[39] - The financial data related to the company's annual performance has not yet been audited, and stakeholders are advised to exercise caution when trading its securities[49]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：2402） 2024年第三季度報告 北 京 億 華 通 科 技 股 份 有 限 公 司（「本公司」或「公 司」）董 事（「董 事」）會（「董事會」）及 全 體 董 事 保 證 本 公 告 內 容 不 存 在 任 何 虛 假 記 載、誤 導 性 陳 述 或 者 重 大 遺 漏，並 對其內容的真實性、準確性和完整性依法承擔法律責任。 重要內容提示： 公司董事會、監事會及董事、監事、高級管理人員保證季度報告內容的真實、準 確、完整，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律 責任。 公 司 負 責 人、主 管 會 計 工 作 負 責 人 及 會 計 機 構 負 責 人（會 計 主 管 人 員）保 證 本 季 度報告中財務信息的真實、準確、完整。 第三季度財務報表未經審計。 – 1 – 一、主要財務數據 （一）主要會計數據和財務指標 單位 ...

Financial Performance - Net loss attributable to shareholders increased by RMB 64.98 million to RMB 141.49 million, primarily due to a larger decrease in product selling prices compared to cost reductions, increased interest expenses from higher bank loans, and reduced foreign exchange gains[5] - Revenue for the reporting period was RMB 153.84 million, a slight increase of 0.21% year-over-year, but future performance may be adversely affected if market demand continues to decline or industry competition intensifies[5] - Revenue for the reporting period (1-6 months) was RMB 153.84 million, a slight increase of 0.21% compared to the same period last year[16] - Net profit attributable to shareholders of the listed company was a loss of RMB -141.49 million, compared to a loss of RMB -76.51 million in the same period last year[16] - Basic earnings per share (EPS) for the reporting period was a loss of RMB -0.86, compared to a loss of RMB -0.47 in the same period last year[17] - Weighted average return on equity (ROE) was -4.76%, a decrease of 2.27 percentage points compared to the same period last year[17] - Revenue for the first half of 2024 reached RMB 1.538 billion, a year-on-year increase of 0.21%[18] - Net loss attributable to shareholders was RMB 1.415 billion, an increase of RMB 649.78 million compared to the same period last year[18] - Operating cash flow was negative RMB 1.831 billion, an increase of RMB 932.47 million year-on-year[18] - Non-recurring gains and losses amounted to RMB 16.53 million, including government subsidies of RMB 12.57 million[20] - The company achieved a revenue of RMB 153.84 million in the first half of 2024, a year-on-year increase of 0.21%[50] - The net loss attributable to shareholders was RMB 141.49 million, an increase of RMB 64.98 million compared to the same period last year[50] - Operating cash flow was negative RMB 183.12 million, an increase of RMB 93.25 million year-on-year[50] - Total assets reached RMB 4.98 billion, a 0.63% increase from the end of the previous year[50] - Shareholders' equity decreased by 4.6% to RMB 2.90 billion compared to the end of the previous year[50] - Net loss attributable to shareholders increased by RMB 64.98 million to RMB 141.49 million, primarily due to a larger decline in product prices compared to costs, increased interest expenses from bank loans, and reduced foreign exchange gains[53] - Revenue for the reporting period was RMB 1.54 billion, a slight increase of 0.21% year-over-year, but future performance may be impacted by declining market demand and intensified competition[53] - Operating income increased by 0.21% to RMB 153.84 million compared to the same period last year[66] - Operating costs rose by 30.14% to RMB 126.59 million due to increased product sales[66] - Sales expenses decreased by 7.41% to RMB 27.92 million[66] - Management expenses dropped by 11.08% to RMB 104.47 million[66] - R&D expenses decreased by 8.44% to RMB 50.53 million[66] - Other income increased by 36.04% to RMB 19.78 million, mainly due to higher government subsidies[66][69] - Fair value change income decreased by 85.57% to RMB 7.03 million due to reduced exchange gains[66][69] - Net cash flow from operating activities improved by RMB 93.25 million, driven by increased sales collections and government subsidies[68] - Net cash flow from financing activities decreased by 81.60% due to the completion of the company's listing on the Hong Kong Stock Exchange in the previous year[68] - Total operating revenue for the first half of 2024 was RMB 153.84 million, a slight increase of 0.21% compared to RMB 153.52 million in the same period of 2023[167] - Total operating costs for the first half of 2024 increased by 10.94% to RMB 311.11 million, up from RMB 280.42 million in the first half of 2023[167] - R&D expenses decreased by 8.44% to RMB 50.53 million in the first half of 2024, compared to RMB 55.19 million in the same period of 2023[167] - The company reported a net loss of RMB 170.39 million in the first half of 2024, a significant increase from the net loss of RMB 103.39 million in the first half of 2023[168] - Basic and diluted earnings per share for the first half of 2024 were both RMB -0.86, compared to RMB -0.47 in the same period of 2023[169] - The company's investment losses increased to RMB 17.45 million in the first half of 2024, up from RMB 15.78 million in the first half of 2023[167] - Management expenses decreased by 11.08% to RMB 104.47 million in the first half of 2024, compared to RMB 117.48 million in the same period of 2023[167] - The company's credit impairment losses increased to RMB 19.91 million in the first half of 2024, up from RMB 14.02 million in the first half of 2023[167] - Other income increased by 36.04% to RMB 19.78 million in the first half of 2024, compared to RMB 14.54 million in the same period of 2023[167] - The company's comprehensive income loss widened to RMB 170.39 million in the first half of 2024, compared to RMB 103.39 million in the first half of 2023[169] - Operating cash flow from sales of goods and services increased to RMB 131,046,180.34 in H1 2024, up from RMB 99,788,999.87 in H1 2023, reflecting a 31.3% year-over-year growth[170] - Total operating cash inflow for H1 2024 was RMB 199,387,377.90, compared to RMB 119,805,126.61 in H1 2023, marking a 66.4% increase[170] - Net cash flow from operating activities improved to RMB -183,120,171.18 in H1 2024, compared to RMB -276,367,270.27 in H1 2023, indicating a 33.7% reduction in cash outflow[170] - Cash outflow for purchasing goods and services decreased to RMB 157,296,466.19 in H1 2024, down from RMB 172,876,263.86 in H1 2023, a 9.0% reduction[170] - Net cash flow from investing activities was RMB -29,922,810.48 in H1 2024, significantly improved from RMB -700,781,640.41 in H1 2023[172] - Cash inflow from financing activities in H1 2024 was RMB 478,582,719.62, a decrease from RMB 1,262,445,749.54 in H1 2023, reflecting a 62.1% decline[172] - Net cash flow from financing activities was RMB 203,931,173.91 in H1 2024, down from RMB 1,108,462,911.36 in H1 2023, a 81.6% decrease[172] - Cash and cash equivalents at the end of H1 2024 stood at RMB 584,679,290.57, compared to RMB 767,516,225.22 at the end of H1 2023, a 23.8% decline[173] - Total monetary funds at the end of the period amounted to RMB 597,725,865.05, a decrease of 1.89% compared to the beginning of the period[179] - Restricted monetary funds totaled RMB 13,046,574.48, a decrease of 24.14% compared to the beginning of the period[180] - Trading financial assets at the end of the period amounted to RMB 715,829,010.87, an increase of 3.69% compared to the beginning of the period[181] - Accounts receivable within 1 year amounted to RMB 829,013,585.87, a decrease of 0.84% compared to the beginning of the period[188] - Accounts receivable aged 1 to 2 years amounted to RMB 592,969,056.68, a decrease of 10.28% compared to the beginning of the period[188] - Accounts receivable aged 2 to 3 years amounted to RMB 339,815,265.49, an increase of 48.41% compared to the beginning of the period[188] - Accounts receivable aged 3 to 4 years amounted to RMB 23,581,181.27, a decrease of 38.86% compared to the beginning of the period[188] - Accounts receivable aged 4 to 5 years amounted to RMB 218,810,000.00, a decrease of 2.45% compared to the beginning of the period[188] - Accounts receivable aged over 5 years amounted to RMB 92,175,480.45, an increase of 6.03% compared to the beginning of the period[188] - Total accounts receivable at the end of the period amounted to RMB 2,096,364,569.76, an increase of 0.99% compared to the beginning of the period[188] - The total accounts receivable is RMB 2,096,364,569.76, with a bad debt provision of RMB 473,379,785.24, accounting for 22.58% of the total[189] - The bad debt provision for accounts receivable aged 2-3 years is RMB 98,469,435.85, representing 29.00% of the total for that category[192] - The top five accounts receivable and contract assets amount to RMB 1,725,885,076.30, accounting for 81.65% of the total[194] - The bad debt provision for contract assets is RMB 697,148.12, representing 4.00% of the total contract assets[197] - The bad debt provision for accounts receivable aged 1-2 years is RMB 35,578,143.41, representing 6.00% of the total for that category[192] - The bad debt provision for accounts receivable aged 3-4 years is RMB 11,773,334.00, representing 50.00% of the total for that category[192] - The bad debt provision for accounts receivable aged 4-5 years is RMB 445,000.00, representing 100.00% of the total for that category[192] - The bad debt provision for accounts receivable aged 5 years and above is RMB 2,832,805.45, representing 100.00% of the total for that category[192] - The bad debt provision for accounts receivable aged 1 year and below is RMB 33,160,542.64, representing 4.00% of the total for that category[192] - The bad debt provision for contract assets aged 1 year and below is RMB 697,148.12, representing 4.00% of the total for that category[198] - Accounts receivable financing increased to 51,949,064.76 RMB from 31,009,909.60 RMB at the beginning of the period[200] - The total accounts receivable financing at the end of the period was 51,949,064.76 RMB[200] - The company has endorsed or discounted receivables financing that has not yet matured as of the balance sheet date[200] R&D and Innovation - R&D investment accounted for 50.45% of revenue, an increase of 0.56 percentage points compared to the same period last year[17] - The company focuses on the R&D and industrialization of fuel cell systems, with applications in commercial vehicles such as buses and logistics trucks[21] - The company follows a "research, develop, and promote" R&D model, emphasizing vertical integration and collaboration with universities and industry leaders[22] - Key materials for fuel cell systems include stacks, air compressors, and DC voltage converters, with domestic stack production capabilities[23] - The company has developed core technologies including hybrid power system matching and control, long-life fuel cell system control, fault diagnosis and fault-tolerant control, low-temperature rapid start-up, and high-power density fuel cell system integration[31] - The company has expanded its product market coverage by collaborating with domestic mainstream vehicle manufacturers to develop new models such as buses, sanitation vehicles, tractors, and cold chain logistics vehicles[28] - The fuel cell industry in China has achieved batch domestic production of core components, leading to improvements in system cost and product reliability[29] - The company has strengthened its R&D capabilities by increasing investment and introducing professional talent, maintaining its core competitiveness[30] - The company has developed a self-heating technology for fuel cell stacks, enabling rapid temperature increase and reducing cold start energy consumption[31] - The company's high-power density fuel cell system integration technology reduces energy loss and system weight through high integration[31] - The company has developed high-efficiency fuel cell waste heat utilization technology, which improves system energy conversion efficiency through multi-thermal domain coupling control strategies[32] - The company has obtained 72 new patents and 2 software copyrights during the reporting period, bringing the total to 1,111 patents and 106 software copyrights[34] - The company's R&D investment totaled 77.62 million yuan, with a 1.34% increase compared to the previous year, accounting for 50.45% of total revenue[36] - The company has been recognized as a national-level "Little Giant" specialized and innovative enterprise for hydrogen fuel cell engines from 2020 to 2023 and again from 2023 to 2026[33] - The company is developing a high-power, long-life fuel cell engine system for long-distance heavy-duty commercial vehicles, with a total investment of 900 million yuan and 493.36 million yuan already invested[37] - The company is working on a hydrogen production and refueling integrated station project, with a total investment of 2.4 billion yuan and 23.5 million yuan invested in the current period[38] - The company has achieved breakthroughs in high-power fuel cell stack design, focusing on improving power density, cost reduction, and durability[32] - The company has established a comprehensive testing and evaluation system for fuel cell systems, covering five major aspects including hybrid power systems and hydrogen systems[32] - The company's capitalised R&D investment increased by 26.54% to 27.09 million yuan, accounting for 34.90% of total R&D investment[36] - The company is developing a high-consistency, high-power fuel cell stack, with 335.91 million yuan invested in the project so far[38] - The company has developed fuel cell systems for various vehicle types, including logistics vehicles, buses, and trucks, with a focus on optimizing system architecture and control strategies to reduce the lifespan decay rate of fuel cell systems[39] - The company has invested RMB 6,492.56 million in the development of fuel cell stack series products, with a cumulative investment of RMB 10,701.64 million, aiming to upgrade and iterate fuel cell systems through the development and verification of key components[39] - The company has completed the development of a high-performance membrane electrode and its key materials, with a cumulative investment of RMB 326.85 million, and has designed a fuel cell cogeneration system architecture with a cumulative investment of RMB 82.57 million[40] - The company has developed a high-efficiency megawatt-level fuel cell cogeneration system, with a cumulative investment of RMB 1,370.89 million, and has completed the development of fuel cell components with a cumulative investment of RMB 1,200.00 million[40] - The company has completed the development of a high-power fuel cell stack testing equipment, with a cumulative investment of RMB 464.22 million, and is currently testing the lifespan and decay performance of single cells and short stacks[41] - The company has developed a hybrid power system with multi-energy efficient coupling control and key devices, with a cumulative investment of RMB 168.57 million, and has completed the development of a fuel cell-hydrogen internal combustion engine hybrid power system integration and demonstration, with a cumulative investment of RMB 3.91 million[42] - The company has 300 R&D personnel, accounting for 32.89% of the total workforce, with a total R&D salary of RMB 374.127 million and an average R&D salary of RMB 115,800[43] - The company's R&D team consists of 29 PhDs (9.67%), 156 master's degree holders (52.00%), and 94 bachelor's degree holders (31.33%), with 97 R&D personnel under 30 years old (32.33%) and 176 R&D personnel under 40 years old (58.67%)[44] - The company has formed strong technical and R&D advantages, large-scale production and promotion advantages, market layout advantages, core component supply advantages, and talent advantages through years of technical and operational accumulation[45] Market and Industry Trends - Hydrogen energy is a strategic focus for China's carbon neutrality goals, with significant policy support at both national and local levels[26] - Hydrogen fuel cell vehicle sales in China exceeded 2,600 units in the first half of 2024, representing a year-on-year growth of over 9%[27] - The company holds a leading position in the industry, with 157 vehicle models equipped with its fuel cell systems out of a total of 1,069 fuel cell vehicle models announced nationwide as of June 2024[28] - China aims to achieve a fuel cell vehicle ownership target of approximately 50,000 units by 2025[29] - The application scenarios for fuel cell vehicles in China have diversified from public transportation to include sanitation, urban logistics, cold chain transportation, and heavy-duty cargo transport[27] - The company operates on a direct sales model, primarily targeting domestic commercial vehicle manufacturers[25] - The company faces risks of continued losses if it cannot secure sufficient orders and expand sales to reach economies of scale necessary for profitability[5] - The company faces risks from high customer concentration, with major clients including Beiqi Foton and Yutong Bus, which could affect independent operations if new markets or clients are not developed[55] - Gross margin is at risk of decline as fuel cell technology matures and market competition intensifies, leading to rapid cost and price reductions[56] - The company's fuel cell systems are critical for vehicle safety, and

Financial Performance - Total revenue for the six months ended June 30, 2024, was RMB 153.84 million, an increase of 0.21% year-on-year[2] - Net loss attributable to shareholders for the six months ended June 30, 2024, was RMB 141.49 million, compared to a net loss of RMB 76.51 million in the same period last year[2] - Basic loss per share for the six months ended June 30, 2024, was RMB 0.86, compared to RMB 0.47 in the same period last year[2] - Total revenue for the six months ended June 30, 2024, was RMB 153,843,525.55, a slight increase from RMB 153,519,255.42 in the same period of 2023, representing a growth of approximately 0.21%[7] - Operating profit for the six months ended June 30, 2024, was negative, with a net loss of RMB 170,390,756.85 compared to a loss of RMB 103,390,207.85 in the prior year, indicating a deterioration in profitability[11] - The net loss attributable to shareholders of the listed company was RMB 141,489,332.28 for the six months ended June 30, 2024, compared to a loss of RMB 76,511,130.16 in the same period of 2023[11] - Revenue for the first half of 2024 was RMB 153.84 million, a slight increase of 0.21% compared to RMB 153.52 million in the same period of 2023[30] Assets and Liabilities - Total current assets as of June 30, 2024, amounted to RMB 3,376.64 million, an increase from RMB 3,341.04 million as of December 31, 2023[3] - Total non-current assets as of June 30, 2024, were RMB 1,600.09 million, slightly down from RMB 1,604.68 million as of December 31, 2023[4] - Total assets as of June 30, 2024, reached RMB 4,976.73 million, compared to RMB 4,945.72 million as of December 31, 2023[4] - Current liabilities as of June 30, 2024, totaled RMB 1,512.17 million, an increase from RMB 1,322.11 million as of December 31, 2023[5] - Total liabilities increased to RMB 1,738,133,203.37 as of June 30, 2024, from RMB 1,538,577,927.24 at the end of 2023, marking an increase of approximately 12.96%[6] - Non-current liabilities totaled RMB 225,967,173.51 as of June 30, 2024, up from RMB 216,465,679.30 at the end of 2023, reflecting an increase of about 4.3%[6] - The company's total equity decreased to RMB 3,238,599,794.51 as of June 30, 2024, from RMB 3,407,142,849.00 at the end of 2023, indicating a decline of approximately 4.95%[6] Operating Costs and Expenses - Total operating costs for the same period increased to RMB 311,105,634.20 from RMB 280,417,141.31, reflecting a rise of about 10.5%[8] - Operating costs increased by 30.14% year-on-year to RMB 126.59 million, primarily due to an increase in product sales volume[30] - Research and development expenses for the six months ended June 30, 2024, were RMB 50,534,103.58, down from RMB 55,192,267.56 in the same period of 2023, representing a decrease of about 8.5%[9] - The company reported a total income tax expense of approximately RMB -11.28 million for the first half of 2024, compared to RMB -17.60 million for the same period in 2023, indicating a reduction in tax expenses[23] Revenue Breakdown - The main business revenue decreased to RMB 152.56 million in 2024 from RMB 153.18 million in 2023, a decline of 0.4%[19] - The revenue from fuel cell systems was RMB 109.42 million, down from RMB 118.78 million in the previous year, indicating a decrease of 7.3%[19] Cash Flow and Investments - The company reported a net cash outflow from operating activities of RMB 183.12 million, a decrease in outflow of RMB 93.25 million year-on-year[28] - The company plans to continue R&D investments focused on improving the performance and reliability of fuel cell systems, targeting key performance indicators[28] - The company aims to expand its fuel cell stack production capacity to meet growing market demand and achieve economies of scale[34] Market Strategy and Operations - The company is focused on expanding its market presence in the fuel cell systems sector, targeting commercial vehicles such as buses and trucks[14] - The company plans to maintain and expand its customer base to increase market share, focusing on the application of fuel cell systems in commercial vehicles such as heavy trucks[35] - The company aims to strengthen its supply chain by deepening relationships with well-known fuel cell system component suppliers and pursuing vertical integration to reduce material costs and ensure supply chain stability[36] - The company intends to enhance brand awareness through product promotion and multi-channel marketing, including participation in industry events and product launches[37] - As of June 30, 2024, the company had 157 vehicle announcements equipped with its fuel cell systems, maintaining a leading position in the industry[28] Corporate Governance and Reporting - The audit committee has reviewed and confirmed the unaudited interim results for the six months ending June 30, 2024[40] - The board of directors did not recommend an interim dividend for the six months ended June 30, 2024[27] - The company completed a capital increase by issuing 66,186,309 new shares, raising its registered capital to RMB 231,652,081[44] - The mid-term report for the six months ending June 30, 2024, will be published on the company's website and the Hong Kong Stock Exchange website[45] - The announcement is made by the Chairman of the Board, Zhang Guoqiang, indicating ongoing corporate governance and leadership[45] - The board of directors includes a mix of executive, non-executive, and independent non-executive members, ensuring diverse oversight[45] - The company is committed to transparency by publishing financial results and updates on its official platforms[45] - The announcement date is August 29, 2024, suggesting timely communication of financial performance to stakeholders[45] - The report will provide insights into the company's performance metrics and strategic direction for the upcoming periods[45] - The mid-term report is expected to include key financial data and performance indicators relevant to investors[45] - The company is preparing to share detailed financial results, which may include revenue, profit margins, and user data[45] - The announcement reflects the company's ongoing commitment to investor relations and market transparency[45] Future Outlook - The company anticipates continued strong government support for the hydrogen energy industry, projecting significant growth potential in the fuel cell sector[32] - The company has established several wholly-owned subsidiaries to expand its operational footprint in the hydrogen energy sector[38]

Financial Performance - The company's operating revenue for the first quarter was CNY 13,143,998.29, a decrease of 72.83% compared to the same period last year[2]. - The net profit attributable to shareholders was a loss of CNY 91,204,404.13, representing a decline of 136.07% year-on-year[5]. - Total revenue for Q1 2024 was CNY 13,143,998.29, a decrease of 72.8% compared to CNY 48,373,299.34 in Q1 2023[16]. - Operating profit for Q1 2024 was CNY -109,580,956.01, compared to CNY -53,783,857.28 in Q1 2023, indicating a worsening performance[17]. - Net loss for Q1 2024 was CNY -105,373,005.48, compared to a net loss of CNY -47,747,711.58 in Q1 2023, reflecting increased financial challenges[19]. - The company’s total comprehensive loss attributable to shareholders for Q1 2024 was CNY -105,373,005.48, compared to CNY -47,747,711.58 in Q1 2023, indicating a significant increase in overall losses[19]. Cash Flow - The net cash flow from operating activities was a negative CNY 79,890,325.92, showing a slight improvement from a negative CNY 94,301,140.70 in the same period last year[2]. - In Q1 2024, cash received from sales and services was ¥56,852,221.69, a decrease of 30.9% compared to ¥82,351,683.82 in Q1 2023[20]. - The company reported a total cash outflow from operating activities of ¥169,344,205.85 in Q1 2024, compared to ¥189,924,827.47 in Q1 2023[20]. - Cash inflow from investment activities in Q1 2024 was ¥2,606,273.98, significantly lower than ¥65,486,938.81 in Q1 2023[21]. - The net cash flow from investment activities in Q1 2024 was -¥22,967,355.31, compared to -¥30,125,994.96 in Q1 2023[21]. - Cash inflow from financing activities in Q1 2024 was ¥189,298,575.89, down from ¥1,037,511,882.98 in Q1 2023[22]. - The net cash flow from financing activities in Q1 2024 was ¥92,109,964.38, a decrease from ¥968,639,010.54 in Q1 2023[22]. - The ending balance of cash and cash equivalents as of Q1 2024 was ¥581,795,133.25, down from ¥1,476,800,569.91 in Q1 2023[23]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,966,062,697.71, a slight increase of 0.41% from the previous year[2]. - Total liabilities as of March 31, 2024, amounted to CNY 1,663,344,163.47, an increase from CNY 1,538,577,927.24 as of December 31, 2023[15]. - Current liabilities totaled CNY 1,454,305,780.63 as of March 31, 2024, up from CNY 1,322,112,247.94 at the end of 2023, indicating rising short-term financial obligations[14]. - The company's total current assets as of March 31, 2024, amount to RMB 3,379,855,422.14, an increase from RMB 3,341,036,086.57 as of December 31, 2023, representing a growth of approximately 1.15%[12]. - The company's total non-current assets as of March 31, 2024, are RMB 1,586,207,275.57, down from RMB 1,604,684,689.67, indicating a decrease of about 1.15%[13]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,265[6]. - The total number of shareholders for the company's common stock is 15,265, with 15,253 being A-share holders and 12 being H-share holders[9]. - The largest shareholder, Zhang Guoqiang, holds 26,031,764 shares, representing 15.73% of the total shares[7]. - HKSCC Nominees Limited holds 25,617,830 shares, accounting for 15.48% of the total shares, with no restrictions on these shares[8]. - There are no significant changes in the shareholding structure of the top 10 shareholders compared to the previous period[9]. Research and Development - The R&D investment totaled CNY 32,978,569.27, accounting for 250.90% of operating revenue, an increase of 170.01% compared to the previous year[2]. - Research and development expenses for Q1 2024 were CNY 23,397,306.09, slightly up from CNY 23,278,091.00 in Q1 2023, showing continued investment in innovation[16]. Earnings Per Share - The basic and diluted earnings per share were both -0.55, compared to -0.35 in the same period last year[2]. - The company reported a basic and diluted earnings per share of CNY -0.55 for Q1 2024, compared to CNY -0.24 in Q1 2023, indicating a decline in profitability per share[19]. Financial Costs - The company’s financial costs in Q1 2024 included interest expenses of CNY 6,005,675.45, significantly higher than CNY 2,805,814.57 in Q1 2023, reflecting increased borrowing costs[16]. Revenue Volatility - The company experienced significant revenue volatility due to its position in the fuel cell industry, which is still in the early stages of industrialization[5].

Financial Performance - The company reported a total operating revenue of RMB 800.70 million for the year 2023, representing a year-on-year growth of 8.48%[4]. - The net loss attributable to shareholders was RMB 243.20 million, an increase of RMB 76.47 million compared to the previous year[5]. - The net loss excluding non-recurring gains and losses was RMB 287.84 million[4]. - The company has maintained a negative operating cash flow due to significant accounts receivable and inventory levels[6]. - The net cash flow from operating activities was a negative RMB 56,063.82 million, a decrease of RMB 22,852.64 million compared to the previous year[29]. - The company reported a net loss of RMB 30,007.70 million, with a significant cash outflow from operating activities of RMB 6,063.82 million[98]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in Q3 2023, representing a 20% year-over-year growth[158]. - The company reported a gross margin of 45%, which is a 5% improvement from the previous quarter, reflecting better cost management[158]. Research and Development - The management is focused on R&D-driven development, which has impacted current operating performance due to high R&D expenditures[5]. - The company has allocated RMB 200 million for research and development in 2024, focusing on hydrogen fuel technology[18]. - Research and development expenses accounted for 21.31% of operating revenue in 2023, a slight decrease from 21.65% in 2022[26]. - The company continues to invest in R&D and attract specialized talent to enhance its core technological capabilities[49]. - The company has developed a fuel cell system prototype with a rated power of ≥240 kW and aims to obtain at least 5 invention patents[61]. - The company is conducting research on proton exchange membranes to improve performance and lifespan, aiming for commercialization of various technical products[59]. - The company has developed a strategy to expand its market presence in key cities and applications, including cold chain transportation and sanitation vehicles[41]. Market Position and Strategy - The company faces risks related to industry competition and market demand fluctuations, which could further affect its financial performance[5]. - The company is in the early stages of industrialization in the fuel cell sector, facing limited market size but increasing competition[5]. - The company aims to achieve a gross margin of 35% in the upcoming fiscal year, up from 30%[18]. - Future guidance estimates revenue growth of 20-25% for 2024, driven by increased demand for clean energy solutions[18]. - The company plans to expand its market presence in Europe, targeting a 20% market share by 2025[18]. - The company is exploring potential acquisitions to bolster its technology portfolio and accelerate growth[18]. - The company aims to achieve a target of approximately 50,000 fuel cell vehicles in operation by 2025 as part of the national development goals[48]. Operational Challenges - The company has increased provisions for expected credit loss on receivables due to a decrease in sales collections year-on-year[29]. - The overall market scale for the fuel cell industry remains small, impacting the company's financial performance[29]. - The company faces risks related to high customer concentration, with major clients including Beiqi Foton and Yutong Bus, which could impact its operational sustainability if these clients face challenges[74]. - The company is at risk of losing market share and facing price declines if it cannot keep pace with technological advancements and market changes in the fuel cell sector[73]. - The company is exposed to debt repayment risks due to increasing bank borrowings amid business expansion in the hydrogen fuel cell vehicle industry[78]. Corporate Governance and Management - The board is responsible for risk management, internal control, and compliance management, ensuring the effectiveness of these systems[127]. - The company has established a comprehensive credit limit for 2023, which includes guarantees for subsidiaries[175]. - The company has a defined profit distribution policy outlined in its articles of association[138]. - The company has established a compensation policy that emphasizes legality, competitiveness, and fairness, aimed at attracting and retaining talent[190]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to RMB 853.31 million[173]. - The company has implemented a management control system for subsidiaries to enhance operational efficiency and risk management[195]. Investment and Financial Activities - The company plans to increase its total share capital from 165,465,772 shares to 231,652,081 shares through a capital reserve conversion plan, distributing 4 new shares for every 10 shares held[7]. - The company completed its listing on the Hong Kong Stock Exchange, raising approximately RMB 886 million, which supports its operational and international development[42]. - The company’s fundraising activities generated a net cash flow of RMB 1,276,801,074.12, a significant increase of 765.30% compared to RMB 147,555,789.35 in the previous year[80]. - The company has a total of RMB 919.65 million in financial assets, with trading financial assets amounting to RMB 690.33 million[109]. - The company has established several new subsidiaries in 2023, including Hebei Guochuang Hydrogen Energy Technology Co., Ltd. and Guangdong Yihua Technology Co., Ltd.[137]. Employee and Talent Management - The company’s employee count increased from 1,014 to 1,044, contributing to higher personnel expenses[5]. - The number of R&D personnel has increased to 346, accounting for 33.14% of the total workforce, with an average salary of 25.17 thousand RMB[63]. - The company has a talent reserve with over 60% of R&D personnel holding a master's degree or higher, supporting rapid development in the fuel cell industry[70]. - The average salary of R&D personnel increased from 24.03 thousand RMB to 25.17 thousand RMB compared to the previous period[63]. Product Development and Innovation - New product development includes a next-generation fuel cell system expected to improve energy conversion efficiency by 10%[18]. - The company has developed high-power density fuel cell systems that reduce energy loss and auxiliary system energy consumption through high integration[51]. - The company has focused on the development of fuel cell systems with an emphasis on environmental adaptability, durability, and reliability, continuously improving product performance[40]. - The company has optimized the design and integration of fuel cell stacks to improve power density and reduce costs through domestic production and material optimization[52]. Future Outlook - The company will continue to focus on market-driven and customer-centric business strategies in 2024, aiming to enhance product development and quality control capabilities[118]. - The company is exploring strategic acquisitions to enhance its technology capabilities and market reach, with a budget of 200 million allocated for potential deals[158]. - The company is committed to maintaining strong corporate governance practices as reflected in its management structure and reporting[157].

Financial Performance - Total revenue for 2023 reached RMB 800.70 million, an increase of 8.48% year-on-year[2] - Net loss attributable to shareholders for 2023 was RMB 243.20 million, compared to a net loss of RMB 166.73 million in the same period last year[2] - Basic loss per share for 2023 was RMB 1.48, compared to RMB 1.19 in the previous year[2] - The company reported a net loss of RMB 300,077,038.04 for the year, compared to a net loss of RMB 195,128,044.54 in 2022, reflecting a deterioration in financial performance[6] - Basic and diluted earnings per share for the year were both RMB (1.48), compared to RMB (1.19) in the previous year[7] - Other comprehensive income attributable to shareholders was RMB 18,708,500.00, significantly higher than RMB 2,210,000.00 in 2022, indicating improved performance in this area[7] Assets and Liabilities - Total current assets as of December 31, 2023, amounted to RMB 3,341.04 million, up from RMB 2,261.03 million a year earlier[3] - Total assets as of December 31, 2023, were RMB 4,945.72 million, compared to RMB 3,783.96 million in the previous year[4] - Total liabilities as of December 31, 2023, were RMB 1,538.58 million, an increase from RMB 1,040.04 million in the previous year[4] - Total equity attributable to shareholders was RMB 3,044.85 million, compared to RMB 2,342.10 million a year earlier[4] - The company reported a deferred tax asset of $135,525,491.45 as of December 31, 2023, an increase from $130,545,747.97 prior to adjustments[14] - The total liabilities increased to $30,248,893.97 for deferred tax liabilities as of December 31, 2023, from $24,631,301.24 before adjustments[14] Operational Highlights - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[2] - The company plans to expand its market presence and enhance its product offerings in the fuel cell systems sector, focusing on commercial vehicles[8] - The company has been actively involved in the development of new technologies and products to strengthen its competitive position in the market[8] - The company aims to strategically expand its customer base and regional coverage to increase market share, focusing on commercial vehicle applications[35] - The company is enhancing and strengthening its supply chain to ensure stability and improve product quality while reducing raw material costs[36] Research and Development - Research and development expenses amounted to RMB 140,907,189.33, up from RMB 101,264,578.71 in 2022, reflecting the company's commitment to innovation[6] - The company plans to deepen R&D on fuel cell systems and core components, focusing on improving performance under harsh conditions and enhancing energy conversion efficiency[33] - The company intends to explore overseas R&D layouts and develop core components such as fuel cell stacks[33] Market and Product Development - The company’s fuel cell vehicles accounted for 20.22% of the 1,548 vehicles equipped with its products out of a total of 7,654 newly added fuel cell vehicles in 2023[30] - The company plans to expand fuel cell stack production capacity to meet growing market demand and achieve economies of scale[34] - The company intends to increase brand awareness and promote the application of fuel cell systems through various marketing channels and industry events[37] Corporate Actions - The company successfully listed on the Hong Kong Stock Exchange, raising HKD 1.022 billion, which will support its operational development and internationalization[31] - The company established a wholly-owned subsidiary, Guangdong Yihua Tong Technology Co., Ltd., to enhance its business development in Guangdong's fuel cell demonstration city cluster[31] - The company established several subsidiaries in 2023, including Hebei Guochuang Hydrogen Energy Technology Co., Ltd. and Guangdong Yihua Tong Technology Co., Ltd.[38] - The company's registered capital increased to 165,465,772 shares following a capital reserve capitalization, including 139,847,942 A-shares and 25,617,830 H-shares[42] - The company issued H-shares at HKD 60 per share, selling a total of 17,628,000 shares and an overallotment of 670,450 shares, resulting in net proceeds of approximately HKD 1,022 million after deducting underwriting fees and other expenses[43] Future Outlook - The company aims to contribute to China's "carbon peak and carbon neutrality" goals by leveraging advanced hydrogen fuel cell technology[32] - The financial statements were prepared based on the assumption of going concern, indicating no significant doubts about the company's ability to continue operations[9] - The company plans to implement the new accounting standards effective January 1, 2024, with no significant impact on its financial statements[16] - The board has not declared a final dividend for the year ending December 31, 2023, and will consider a proposal for a final dividend at a board meeting in April 2024[44] Cash Flow - The net cash outflow from operating activities was RMB 560.64 million, an increase of RMB 228.53 million year-on-year, primarily due to increased R&D investments and expansion of application scenarios[28]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 表 明 概 不 就 因 本 公 告 全 部 或 任 何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：2402） 2023年第三季度報告 北 京 億 華 通 科 技 股 份 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）及 全 體 董 事 保 證 本 報 告 內 容 不 存 在 任 何 虛 假 記 載、誤 導 性 陳 述 或 者 重 大 遺 漏，並 對 其 內 容 的真實性、準確性和完整性依法承擔法律責任。 重要內容提示 本公司董事會、監事會及董事、監事、高級管理人員保證季度報告內容的真實、 準確、完整，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法 律責任。 本 公 司 負 責 人 張 國 強、主 管 會 計 工 作 負 責 人 宋 海 英 及 會 計 機 構 負 責 人（會 計 主 管 人員）張紅黎保證季度報告中按中國企業會計準則編製的財務信息的真實、準確、 完整 ...