（在中華人民共和國註冊成立的股份有限公司） （股份代號：2402） 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。 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲 載 列 北 京 億 華 通 科 技 股 份 有 限 公 司（「 本公司 」）於 上 海 證 券 交 易 所 網 站 (www.sse.com.cn)所刊發的公告，僅供參考。 承董事會命 北京億華通科技股份有限公司 董事長 分析和展望。 張國強 中國，北京 2025年9月8日 於 本 公 告 日 期，本 公 司 董 事 會 成 員 包 括 執 行 董 事 張 國 強 先 生、宋 海 英 女 士 及 戴東哲女士；非執行董事宋峰先生；獨立非執行董事紀雪洪先生、陳素權先生及 李志杰先生；及職工代表董事張紅黎女士。 股票代码：688339 股票简称：亿华通 北京亿华通科技股份有限公司 投资者关系活动记录表 | | □特定对象调研□分析师会议 | | --- ...

Core Viewpoint - Yihuatong (688339.SH) announced the termination of the share issuance for asset acquisition and related fundraising due to a lack of consensus among transaction parties, prioritizing the long-term interests of the company and its investors [1] Group 1: Transaction Details - The company planned to acquire 100% equity of Danzhou Xuyang Hydrogen Energy Co., Ltd. through share issuance and raise supporting funds [1][2] - The transaction was expected to constitute a major asset restructuring as per the regulations but did not qualify as a restructuring listing [1] - The total amount of supporting funds was not to exceed 550 million yuan, with the number of shares issued not exceeding 30% of the total share capital before issuance [4] Group 2: Financial Performance - Yihuatong has reported continuous losses for five and a half years, with revenues from 2020 to the first half of 2025 showing a decline, and net profits remaining negative [5] - The company's revenue figures were 572.29 million yuan in 2020, 629.37 million yuan in 2021, 738.12 million yuan in 2022, 800.70 million yuan in 2023, 366.67 million yuan in 2024, and 71.93 million yuan in the first half of 2025 [5] Group 3: Shareholder Structure - Prior to the proposed transaction, Yihuatong's controlling shareholder was Zhang Guoqiang, and post-transaction, it was expected to change to Xuyang Group [3] - Xuyang Group is indirectly wholly owned by China Xuyang Group [3][4]

亿华通原计划收购旭阳集团（01907.HK）旗下旭阳氢能100%股权及资产，同时募集配套资金，向产业链上游延伸。 优化产业链布局对亿华通而言确有必要。长江商报记者发现，2020年至今的5年半，亿华通净利润持续亏损，累计亏损12.14亿元；扣非净利润更是连续亏 损6年半，2019年以来累计亏损14.22亿元。 不过，亿华通依然表示，从应用场景看，中国燃料电池汽车应用场景已由前期单一的公交领域商业化示范应用向多场景示范应用转变，同时也在船舶、热 电联供等新领域展开应用。 点击蓝字关注我们 长江商报记者 黄聪 业绩"断崖式"下滑之下，"氢能A+H第一股"亿华通（688339.SH、02402.HK）的重大资产重组也宣告折戟。 9月5日晚间，亿华通发布公告显示，公司董事会同意公司终止发行股份购买资产并募集配套资金暨关联交易事项，原因为"交易相关方未能就本次交易的 最终方案达成一致意见"。 旭阳集团表示，此次合作标志着双方在氢能产业的深度合作，将共同推动氢能业务的战略发展。 不过，旭阳氢能业绩并不理想，其2023年实现营业收入4.05亿元、净利润5903.3万元。到了2024年，旭阳氢能营业收入降至3.2亿元，净利润降 ...

Core Viewpoint - Yihuatong, known as the "first hydrogen energy A+H stock," has announced the termination of its major asset restructuring plan due to a lack of consensus among transaction parties, amidst significant financial losses [1][4]. Group 1: Company Performance - Yihuatong has experienced continuous net profit losses since 2020, accumulating a total loss of 1.214 billion yuan over five and a half years [1][8]. - The company's net profit has deteriorated from a profit of 63.92 million yuan in 2019 to a loss of 243 million yuan in 2023, with a cumulative loss of 1.422 billion yuan in non-recurring net profit since 2019 [7][8]. - In 2024, Yihuatong's revenue dropped by 54.21% to 367 million yuan, with a net loss of 456 million yuan and a non-recurring net loss of 543 million yuan [7][8]. - In the first half of 2025, Yihuatong reported a revenue of 71.93 million yuan, a year-on-year decline of 53.25%, and a net loss of 1.63 billion yuan, a decrease of 15.51% compared to the previous year [8]. Group 2: Industry Context - The hydrogen fuel cell vehicle application landscape in China is evolving from a single focus on buses to multiple application scenarios, including logistics, sanitation, and marine applications [1][8]. - Yihuatong's strategic move to acquire Xuyang Hydrogen Energy aimed to enhance its position in the hydrogen energy supply chain, but the deal has now been terminated [2][4]. - Xuyang Hydrogen Energy has also faced declining performance, with revenues falling from 405 million yuan in 2023 to 320 million yuan in 2024 [4].

Group 1 - The company announced the termination of the acquisition of 100% equity in Xuyang Hydrogen Energy due to a lack of consensus among transaction parties [3][4] - The termination of the acquisition is not expected to have a significant adverse impact on the company's production, operations, or financial status [3][4] - The company has faced significant operational pressure in recent years and aims to enhance its comprehensive strength through upstream and downstream integration [4] Group 2 - The company's financial performance has been declining, with a reported net profit of approximately -163 million yuan in the first half of the year, marking an increase in losses year-on-year [5][6] - Revenue for the first half of the year was approximately 71.93 million yuan, a decrease of 53.25% compared to the previous year [6] - The company has adopted a cautious marketing expansion strategy due to its current liquidity situation, leading to a reduction in product sales [6] Group 3 - The company has seen a continuous decline in net profit since its listing, with losses increasing from -225.24 million yuan in 2020 to an estimated -456 million yuan in 2024 [6] - Research and development expenses decreased by 66.01% year-on-year, primarily due to team optimization and reduced external collaborations [7] - The number of R&D personnel has decreased from 300 to 128 over the same period [7]

Core Viewpoint - Yihuatong announced the termination of the acquisition of 100% equity in Danzhou Xuyang Hydrogen Energy Co., Ltd. due to the inability to reach a final agreement with the transaction party, which was expected to enhance the company's hydrogen energy industry chain layout [2][7]. Group 1: Termination of Acquisition - The decision to terminate the acquisition was made after careful consideration and communication with the transaction party, and it is not expected to have a significant adverse impact on the company's operations and financial status [5]. - The acquisition was initially aimed at improving Yihuatong's position in the hydrogen energy industry, as Xuyang Hydrogen Energy is the largest hydrogen supplier in the Beijing-Tianjin-Hebei region [7]. Group 2: Departure of Key Personnel - Core technical personnel Yang Shaojun has left the company due to personal reasons, and he will no longer hold any position within the company [10]. - Following Yang's departure, the number of core technical personnel at Yihuatong has decreased to four, and the company claims that its R&D team structure remains intact and capable of supporting ongoing projects [10]. Group 3: R&D Personnel and Financial Performance - Yihuatong has seen a significant reduction in R&D personnel, from 346 in 2024 to 156, and further down to 128 in the first half of 2025, with the proportion of R&D staff in the total workforce dropping from 32.89% to 21.62% [12]. - The company has reported continuous losses, with net profits attributable to shareholders of -167 million yuan in 2022, -243 million yuan in 2023, and -456 million yuan in 2024 [12]. - In the first half of 2025, Yihuatong's revenue was 71.93 million yuan, a decrease of 53.25% year-on-year, and the net profit attributable to shareholders was -163 million yuan, indicating an increase in losses [15].

Core Viewpoint - Yihuatong, known as the "first hydrogen stock," announced the termination of its planned acquisition of 100% equity in Danzhou Xuyang Hydrogen Energy Co., Ltd. due to a lack of consensus among transaction parties, prioritizing the long-term interests of the company and its investors [1][5][6] Group 1: Transaction Details - The company initially planned to acquire Xuyang Hydrogen Energy and raise up to 550 million yuan through a share issuance [6][7] - The acquisition aimed to enhance Yihuatong's position in the hydrogen energy industry by improving its supply chain and operational synergy [6][7] - The termination of the transaction will not significantly impact the company's operational and financial status [5][6] Group 2: Company Operations and Financials - Yihuatong reported a revenue of 71.93 million yuan for the first half of the year, a year-on-year decline of 53.25% [13] - The net profit attributable to shareholders was -163 million yuan, worsening from -141 million yuan in the same period last year [13] - The decline in performance is attributed to a decrease in market demand for fuel cells and a cautious marketing strategy due to current liquidity conditions [13] Group 3: Personnel Changes - The company announced the departure of core technical personnel, Yang Shaojun, who left for personal reasons [8][12] - Yang's departure is not expected to affect the company's patent ownership or ongoing research projects, as responsibilities have been successfully transitioned to other team members [11][12] - Yihuatong plans to enhance its talent acquisition and training efforts to boost its technical innovation capabilities [13]

Core Viewpoint - Yihuatong's major asset restructuring plan has been terminated due to a lack of consensus among transaction parties, which raises concerns about the company's future opportunities in the hydrogen energy sector [1][2][8]. Company Performance - Yihuatong has experienced a continuous decline in performance, with losses accumulating to over 1 billion yuan from 2020 to 2024, marking five consecutive years of losses [3][5]. - In the first half of 2024, Yihuatong reported a revenue of 71.93 million yuan, a year-on-year decrease of 53.25%, and a net loss of 163 million yuan [9]. Market Conditions - The fuel cell industry is facing an overall decline in market demand, with a significant drop in production and sales of fuel cell vehicles in the first half of 2024, down 47.2% and 46.8% year-on-year, respectively [9]. - As of the end of 2024, the cumulative sales of fuel cell vehicles in China are approximately 24,000 units, falling short of the target of 50,000 units set for 2025 [9]. Strategic Challenges - Yihuatong's strategy to extend upstream in the hydrogen supply chain has encountered setbacks, particularly with the termination of the acquisition of Xuyang Hydrogen Energy, which was expected to enhance operational capabilities and reduce costs [7][8]. - The company has highlighted that high hydrogen production costs, insufficient hydrogen refueling stations, and a lack of demand are key challenges hindering the growth of the fuel cell market [9]. Financial Comparison - In contrast to Yihuatong, Xuyang Hydrogen Energy reported a revenue of 320 million yuan and a net profit of 23.14 million yuan in 2024, indicating a stronger financial position [6].

Mergers and Acquisitions - Water Holdings plans to acquire 100% equity of Huarka Sealing Products (Shanghai) Co., Ltd. for 25.716 million yuan, with the final price based on the audited net assets as of June 30, 2025 [1] - Yihua Tong has decided to terminate the major asset restructuring plan to acquire 100% equity of Dingzhou Xuyang Hydrogen Energy Co., Ltd. due to a lack of consensus among parties involved [2] Shareholding Changes - Huawu Co., Ltd. announces that its controlling shareholder and related parties plan to reduce their holdings by up to 3%, equating to no more than 11.8327 million shares [3] - Weishi Electronics' controlling shareholder plans to reduce holdings by up to 3%, which amounts to no more than 638,500 shares [4] - Koweil announces that shareholders plan to reduce their holdings by up to 2.34%, totaling no more than 1.9688 million shares [5] Investment Agreements - Aerospace Hongtu signed a strategic cooperation agreement with Pakistan for an internet satellite project worth 2.9 billion yuan [6] - ST Songfa's subsidiary signed contracts for the construction of two 30.6 million-ton ultra-large crude oil tankers, with a total contract value of approximately 200 to 300 million USD [7] - Guangqi Technology's subsidiary signed batch production contracts for metamaterials totaling 1.278 billion yuan, with deliveries scheduled by June 30, 2026 [9]

Mergers and Acquisitions - Water Holdings plans to acquire 100% equity of Walka Sealing Products (Shanghai) Co., Ltd. for 25.716 million yuan, with the final price based on the audited net assets as of June 30, 2025 [1] - Yihua Tong has decided to terminate the major asset restructuring plan to acquire 100% equity of Dingzhou Xuyang Hydrogen Energy Co., Ltd. due to a lack of consensus among parties involved [2] Shareholding Changes - Huawu Co., Ltd. announces that its controlling shareholder and related parties plan to reduce their holdings by up to 3%, equating to no more than 11.8327 million shares [3] - Weishi Electronics' controlling shareholder plans to reduce holdings by up to 3%, which amounts to no more than 6.385 million shares [4] - Koweil plans to reduce its shareholding by up to 2.34%, totaling no more than 1.9688 million shares [5] Investment Agreements - Aerospace Hongtu signed a strategic cooperation agreement with Pakistan for an internet satellite project worth 2.9 billion yuan, although specific procurement contracts are yet to be finalized [6] - *ST Songfa's subsidiary signed contracts for the construction of two 30.6 million-ton ultra-large crude oil tankers, with a total contract value estimated between 200 million to 300 million USD [7] - Guangqi Technology's subsidiary signed batch production contracts for advanced materials totaling 1.278 billion yuan, with significant deliveries scheduled by June 30, 2026 [8] Regulatory Issues - ST Lingnan and its former controlling shareholder are under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure regulations [9]