Core Viewpoint - Yihua Tong (02402) reported a significant decline in revenue and an increase in net loss for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company's operating revenue for the first three quarters of 2025 was 104 million RMB, representing a year-on-year decrease of 67.31% [1] - The net loss attributable to shareholders of the listed company was 311 million RMB, which is a year-on-year increase of 20.7% [1] - The basic loss per share was 1.34 RMB [1]

Core Viewpoint - Yihuatong is a leading enterprise in China's hydrogen fuel cell industry, focusing on the research and manufacturing of fuel cell systems and stacks, with significant advantages in technology development and industry chain layout, making it highly valuable for investment [1] Group 1: Business Performance - In Q3 2025, Yihuatong's revenue reached 104 million yuan, ranking first in the industry, with fuel cell system revenue accounting for 70.41% of total revenue [2] - The company reported a net profit of -362 million yuan in the same period, also ranking first in the industry [2] Group 2: Financial Metrics - As of Q3 2025, Yihuatong's asset-liability ratio was 39.22%, an increase from 37.76% in the previous year, indicating that its debt repayment ability is in line with the industry average [3] - The gross profit margin for Q3 2025 was -19.56%, a significant decline from 17.54% in the previous year, suggesting a need for improvement in profitability [3] Group 3: Shareholder Information - As of June 30, 2024, the number of A-share shareholders decreased by 4.56% to 14,200, while the average number of circulating A-shares held per account increased by 4.78% [5] - Hong Kong Central Clearing Limited became the seventh largest circulating shareholder with 3.24 million shares as of September 30, 2025 [5] Group 4: Market Outlook - According to CICC, the company's performance in the first half of 2025 met market expectations, but industry demand has declined, leading to a decrease in shipments [5] - Longjiang Securities noted that the overall market demand for fuel cells is declining, and the company's cautious expansion has put pressure on sales and profits [5]

前三季度营收约为1亿元，同比减少67.31%。净亏损约为3.1亿元。 格隆汇10月30日丨亿华通(02402.HK)公布2025年第三季度报告。营收约为人民币3158万元，同比减少 80.6%。净亏损约为1.48亿元。基本每股收益为-0.63元。 ...

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 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 本公司董事會及董事、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：萬元 幣 ...

Financial Performance - The company's operating revenue for Q3 2025 was CNY 31.58 million, a decrease of 80.60% compared to CNY 162.76 million in the same period last year[4] - The total profit for the period was CNY -162.22 million, with a year-to-date total profit of CNY -363.17 million, indicating a significant loss[4] - The net profit attributable to shareholders was CNY -148.04 million for the quarter, compared to CNY -116.66 million in the same period last year, reflecting a worsening financial position[5] - The company experienced a 67.31% decline in year-to-date operating revenue, primarily due to a decrease in fuel cell system sales[9] - Net loss for the first three quarters of 2025 was CNY 361.54 million, compared to a net loss of CNY 318.48 million in the same period of 2024, representing an increase in loss of 13.52%[21] - The basic and diluted earnings per share for the first three quarters of 2025 were both CNY -1.34, compared to CNY -1.11 in 2024[21] Research and Development - Research and development expenses totaled CNY 11.06 million, a decrease of 64.81% year-on-year, indicating a reduction in forward-looking R&D projects[5] - The company has adjusted its R&D strategy, focusing on optimizing traditional projects rather than pursuing new forward-looking initiatives[9] - Research and development expenses decreased to CNY 25.93 million in 2025 from CNY 70.48 million in 2024, a reduction of 63.24%[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 410.94 million, down 14.01% from the previous year[5] - Total assets decreased to CNY 4.11 billion in 2025 from CNY 4.78 billion in 2024, a decline of 13.94%[17] - Total liabilities decreased to CNY 1.61 billion in 2025 from CNY 1.94 billion in 2024, a reduction of 16.88%[17] - The company's total equity decreased to CNY 2.50 billion in 2025 from CNY 2.84 billion in 2024, a decline of 12.09%[17] Shareholder Information - Total number of common shareholders at the end of the reporting period is 15,687[11] - The largest shareholder, Zhang Guoqiang, holds 36,444,469 shares, representing 15.73% of total shares[11] - The second largest shareholder, HKSCC Nominees Limited, holds 35,859,552 shares, representing 15.48% of total shares[11] - The company has a total of 7,035,902 shares held by Dongxu Optoelectronics Technology Co., Ltd., which are frozen[11] Cash Flow - The cash flow from operating activities showed a net amount of CNY 461.05 million year-to-date, a significant improvement from CNY -22.14 million in the previous year[5] - The company's operating cash flow for the first three quarters of 2025 was CNY 4,610,526.09, a significant improvement from a negative cash flow of CNY -221,360,346.09 in the same period of 2024[23] - Total cash inflow from operating activities increased to CNY 417,909,302.03, up from CNY 286,508,997.41 year-over-year, representing a growth of approximately 46%[23] - Cash outflow from operating activities decreased to CNY 413,298,775.94 from CNY 507,869,343.50, indicating a reduction of about 19%[23] - The net cash and cash equivalents at the end of the period were CNY 448,482,429.94, down from CNY 569,890,670.26 year-over-year[24] Investment Activities - The company reported an investment loss of CNY 47.96 million in 2025, compared to a loss of CNY 26.67 million in 2024, indicating a worsening of 79.93%[20] - Investment activities generated a net cash outflow of CNY -32,651,452.23, slightly improved from CNY -34,658,537.73 in the previous year[24] - The company raised CNY 30,090,000.00 from new investments, compared to CNY 5,250,000.00 in the same period last year, marking a growth of 471%[24] - The company reported a total cash inflow from investment activities of CNY 236,070,538.50, a significant increase from CNY 11,420,043.93 in the previous year[24] Other Financial Metrics - The weighted average return on net assets decreased to -6.36%, a decline of 2.27 percentage points compared to the previous year[5] - The company reported a decrease in cash flow from operating activities, reflecting ongoing financial challenges[20] - The impact of exchange rate changes on cash and cash equivalents was a decrease of CNY -3,464,489.21, compared to CNY -2,121,058.27 in the same period last year[24]

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） 修訂持續關連交易的 年度上限 持續關連交易補充協議 於2025年10月23日，本 公 司 訂 立 持 續 關 連 交 易 補 充 協 議，以 修 訂 持 續 關 連 交 易 項 下 的 現 有 年 度 上 限。除 修 訂 現 有 年 度 上 限 外，持 續 關 連 交 易 協 議 項 下 所 有其他條款及條件維持不變。 上市規則的涵義 – 1 – 一般資料 宋 海 英 女 士 及 戴 東 哲 女 士（為 執 行 董 事 及 通 嵐 科 技 執 行 事 務 合 夥 人）以 及 億 華 通氫能董事長兼董事張國強先生於持續關連交易補充協議及其項下擬進行的 交 易 擁 有 權 益。因 此，宋 海 英 女 士、戴 東 哲 女 士 及 張 國 強 先 生 就 有 關 持 續 關 連 交 易 補 充 協 議 及 相 關 年 度 上 限 的 董 事 會 ...

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） 修訂持續關連交易的 年度上限 持續關連交易補充協議 於2025年10月23日，本 公 司 訂 立 持 續 關 連 交 易 補 充 協 議，以 修 訂 持 續 關 連 交 易 項 下 的 現 有 年 度 上 限。除 修 訂 現 有 年 度 上 限 外，持 續 關 連 交 易 協 議 項 下 所 有其他條款及條件維持不變。 上市規則的涵義 截 至 本 公 告 日 期， 億 華 通 氫 能 分 別 由 本 公 司 及 通 嵐 科 技 擁 有72.22%及 24.56%。執 行 董 事 宋 海 英 女 士 及 戴 東 哲 女 士 為 通 嵐 科 技 執 行 事 務 合 夥 人。根 據 上 市 規 則，億 華 通 氫 能 因 此 為 本 公 司 關 連 附 屬 公 司 及 本 公 司 關 連 人 士。因 此，持 續 關 連 交 易 補 充 協 議 ...

Core Points - The energy storage index experienced a decline, with a daily drop of 2.01% on October 23 [1] - Among the constituent stocks, Haibosi Chuang led the decline with a drop of 5.24%, followed by Shenghong Co., Jinpan Technology, Keda, and Yihuatong-U [1] Company Performance - Haibosi Chuang reported the largest decline among the energy storage stocks, falling by 5.24% [1] - Other companies such as Shenghong Co., Jinpan Technology, Keda, and Yihuatong-U also experienced declines, contributing to the overall negative performance of the sector [1] Industry Trends - The energy storage sector is currently facing downward pressure, as indicated by the overall index decline and the performance of key companies [1]

Group 1 - The core viewpoint of the news is that Yihuatong's stock has shown fluctuations in price and trading volume, with a recent increase of 2.14% and a total market value of 6.426 billion yuan [1] - As of October 21, Yihuatong's stock price is reported at 27.74 yuan per share, with a trading volume of 65.4193 million yuan and a turnover rate of 1.22% [1] - Year-to-date, Yihuatong's stock has increased by 15.10%, but it has experienced a decline of 5.61% over the last five trading days [1] Group 2 - Yihuatong, established on July 12, 2012, is primarily engaged in the manufacturing of fuel cell systems, focusing on commercial vehicles such as buses and trucks [2] - The company's revenue composition includes 70.41% from fuel cell systems, 14.73% from other sources, 11.84% from technology development and services, and 3.02% from components [2] - Yihuatong operates within the electric equipment industry, specifically in the fuel cell sector, and is associated with concepts such as hydrogen energy and new energy vehicles [2] Group 3 - As of June 30, Yihuatong had 14,400 shareholders, an increase of 0.72% from the previous period [3] - For the first half of 2025, Yihuatong reported a revenue of 71.9293 million yuan, a year-on-year decrease of 53.25%, and a net profit attributable to shareholders of -163 million yuan, a decrease of 15.51% [3]

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） 董事會召開日期 承董事會命 北京億華通科技股份有限公司 董事長 張國強 中國，北京 2025年10月17日 於本公告日期，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。 北 京 億 華 通 科 技 股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，本 公 司 將 於2025年10月30日（星 期 四）舉 行 董 事 會 會 議，其 中 議 程 包 括 審 議 及 批 准 本 公 司 及 其附屬公司截至2025年9月30日止九個月的未經審核第三季度業績及其刊發。 ...