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8月18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8月28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6月30日止六個月之中期業績及其刊發。 ...

Core Viewpoint - The strategic cooperation between Yihuatong and Pengfei Group aims to advance hydrogen fuel cell technology and its large-scale application, marking a significant step towards commercializing the hydrogen energy industry in Lvliang [1][3]. Group 1: Strategic Cooperation - Yihuatong and Pengfei Group signed a strategic cooperation agreement on August 8, focusing on hydrogen fuel cell technology development and large-scale application [1]. - The partnership is expected to promote resource sharing and complementary advantages, driving high-quality development of the hydrogen energy industry in Lvliang [1][4]. Group 2: Resource and Infrastructure - Lvliang has a unique advantage with its "resource + scenario" dual engine, including an annual coking capacity of 18.67 million tons in Xiaoyi City, which can produce 4.4 billion cubic meters of coke oven gas, yielding 200,000 tons of low-cost hydrogen [3]. - Pengfei Group has established a complete "hydrogen production-storage-transportation-application" chain, with a logistics network of 70,000 heavy trucks to support the large-scale deployment of hydrogen vehicles [3]. Group 3: Initial Procurement and Application - The initial phase of the cooperation includes the procurement of 100 hydrogen fuel cell heavy trucks and 250 hydrogen fuel cell logistics vehicles, with heavy trucks designated for coking raw material transportation and light trucks for urban cold chain logistics [3][4]. - Yihuatong will provide core technology for the fuel cell systems, while Pengfei Group will build a cluster of hydrogen refueling stations and a digital operation platform to validate the economic viability and reliability of hydrogen vehicles [3][4]. Group 4: Future Development Plans - Yihuatong aims to integrate the three key elements of "coking hydrogen source - heavy truck manufacturing - logistics finance" to create a replicable "Lvliang model" for hydrogen energy development across the country [4].

Investment Rating - The industry investment rating is "Overweight" [3] Core Viewpoints - The report emphasizes the significant growth potential in the humanoid robotics sector, with a projected cumulative global demand of approximately 2 million units by 2030, indicating a critical breakthrough phase from 0 to 1 [6][20] - The report highlights the acceleration of N-type penetration in photovoltaic equipment, strengthening the competitive edge of leading companies under the Matthew effect [21] - The energy storage sector is identified as essential for building a new type of power grid, with favorable policies enhancing industry prosperity [21] - The semiconductor equipment market is expected to reach $140 billion by 2030, with an increasing share from mainland China, although the domestic production rate remains low [21] - The automation market, particularly industrial consumables, is projected to grow from approximately 40 billion to 55.7 billion by 2026, benefiting from increased concentration and import substitution [22] - Hydrogen energy, particularly green hydrogen, aligns with carbon neutrality goals, supported by the rapid development of photovoltaic and wind energy [21] Summary by Sections Humanoid Robotics - Key companies recommended for investment include Huasheng Tiancai, Sanhui Electric, and Zhejiang Rongtai, among others [4] - The report discusses the recent humanoid robot sports event in Beijing, showcasing over 500 robots from 16 countries competing in various categories [15][20] - The introduction of the Genie Envisioner platform by Zhiyuan Robotics is noted as a significant advancement in the field, integrating video generation with robotic control [11][20] Photovoltaic Equipment - The report suggests focusing on leading companies like Maiwei and Jiejiacreating, which possess technological innovation and customer base advantages [21] - The overall price center of the photovoltaic industry chain is declining, with a focus on cost and efficiency improvements [21] Energy Storage - The report highlights the favorable policies for both generation-side and user-side energy storage, driving comprehensive development in the sector [21] - Companies like Xingyun and Kexin are identified as key players in the energy storage market [21] Semiconductor Equipment - The semiconductor equipment market is projected to double in the next decade, with a significant increase in demand for domestic production [22] - Companies such as Zhongwei and Beifang Huachuang are recommended for investment [22] Automation - The automation market is expected to grow significantly, with a focus on industrial consumables and the potential for leading companies to benefit from increased market concentration [22] Hydrogen Energy - The report emphasizes the importance of green hydrogen in achieving carbon neutrality, recommending companies like Longi Green Energy and Yihua Tong for investment [21]

Core Viewpoint - The fuel cell vehicle (FCEV) market is experiencing significant declines in both sales and installed capacity, indicating potential challenges for the industry moving forward [3][5]. Group 1: Market Performance - From January to July 2025, a total of 2,318 FCEVs were registered, representing a year-on-year decrease of 49.9% [3]. - The cumulative installed capacity for fuel cells reached 298.91 MW during the same period, which is a year-on-year decrease of 23.8% [3]. - In July 2025, the installed capacity for fuel cells was 41.54 MW, showing a year-on-year decline of 66.3% and a month-on-month decrease of 41.7% [5]. Group 2: Sales Data - In July 2025, the number of FCEV registrations was 351 vehicles, reflecting a year-on-year decrease of 63.1% and a month-on-month decrease of 41.4% [5]. Group 3: Market Concentration - The top 10 companies contributing to FCEV registrations include YunTao Hydrogen Energy, GuoQing Technology, YiHuaTong, and others, with YunTao Hydrogen Energy leading by supplying 104 vehicles, accounting for nearly 30% of the total [7]. - The market concentration among the top five companies is notably high, reaching 88.3% [7].

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的內容概不負 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） 盈利預警 中國，北京 2025年8月13日 本公告所載資料僅為董事會根據本集團的未經審計綜合管理賬目及董事會現時 可 得 的 其 他 資 料 作 出 的 初 步 評 估。有 關 資 料 尚 未 經 本 公 司 核 數 師 或 審 計 委 員 會 審 核 或 審 閱。由 於 本 公 司 仍 在 落 實 其 報 告 期 間 的 財 務 業 績，故 報 告 期 間 的 最 終 業 績 或 會 發 生 變 化，且 可 能 與 本 公 告 中 所 披 露 資 料 有 所 不 同。本 公 司 報 告 期 間 的最終業績及本集團的其他經營詳情將於本公司報告期間的中期業績公告中披 露，中期業績公告預計將於2025年8月底前刊發。 – 1 – 股東及本公司潛在投資者在交易本公司證券時務請謹慎決策。 承董事會命 北京億華通科技股份有限公司 董事長 張國強 ...

人民财讯8月13日电，亿华通(02402.HK)8月13日晚间在港交所公告，预期上半年营业收入同比减少约 53%。该变动主要由于：市场需求整体下降，导致燃料电池行业规模同比减少；鉴于当前流动资金状 况，公司采取谨慎的扩张营销战略，保障资金安全的同时，导致报告期间产品销售量减少。 转自：证券时报 ...

Core Viewpoint - Yihuatong (02402.HK) expects a significant decrease in revenue for the first half of 2025, projecting a reduction of approximately 53% compared to the same period in 2024, when revenue was around RMB 154 million [1] Group 1: Revenue Forecast - The company anticipates that its operating revenue will decline to about RMB 72 million in the first half of 2025 due to overall market demand decrease [1] - The expected revenue drop is attributed to a contraction in the fuel cell industry, which has seen a year-on-year reduction in scale [1] Group 2: Strategic Response - In response to the current liquidity situation, the company is adopting a cautious marketing expansion strategy to ensure financial safety, which has resulted in a decrease in product sales during the reporting period [1]

格隆汇8月13日丨亿华通(02402.HK)公布，集团预计截至2025年6月30日止六个月集团营业收入将较截至 2024年6月30日止六个月营业收入约人民币15,384.35万元减少约53%。该变动主要由于(1)由于市场需求 整体下降，导致燃料电池行业规模同比减少；及(2)鉴于当前流动资金状况，公司采取谨慎的扩张营销 战略，保障资金安全的同时，导致报告期间产品销售量减少。 ...

格隆汇8月13日丨亿华通(02402.HK)公布，集团预计截至2025年6月30日止六个月集团营业收入将较截至 2024年6月30日止六个月营业收入约人民币15,384.35万元减少约53%。该变动主要由于(1)由于市场需求 整体下降，导致燃料电池行业规模同比减少；及(2)鉴于当前流动资金状况，公司采取谨慎的扩张营销 战略，保障资金安全的同时，导致报告期间产品销售量减少。 ...

Group 1 - The company expects its revenue in the first half of 2025 to decrease by approximately 53% compared to the same period in 2024, which had a revenue of about RMB 154 million [1] - The decline in revenue is primarily attributed to an overall decrease in market demand, leading to a year-on-year reduction in the fuel cell industry scale [1] - Additionally, the company's cautious expansion and marketing strategy, aimed at ensuring financial safety due to current liquidity conditions, has resulted in a decrease in product sales during the reporting period [1]