Core Viewpoint - The hydrogen fuel cell industry is facing significant challenges, including poor financial performance, reliance on financing, and a lack of stable policy support as existing policies near expiration [2][3][4]. Financial Performance - In 2024, the revenue of Yihuatong, known as the "first stock of hydrogen energy," dropped to 367 million yuan, a year-on-year decline of 54.21%, with net losses expanding to 456 million yuan [2][3]. - Four leading companies in the hydrogen energy sector reported a combined loss exceeding 1.81 billion yuan in 2024, with average losses increasing by over 60% [3][4]. Policy and Market Dynamics - The transition from purchase subsidies to demonstration application support for fuel cell vehicles has created uncertainty, leading to market and capital hesitance [2][4]. - The current policy framework is at risk of a gap as the first round of demonstration applications nears completion, which could hinder financing, especially for private enterprises [2][4]. Industry Challenges - The hydrogen fuel cell companies are grappling with multiple issues, including accounts receivable crises, heavy R&D investments, and declining stack prices [4][5]. - Delays in government subsidies have exacerbated cash flow issues, with companies facing significant financial strain due to late payments [4][5]. Cost and Commercialization Issues - The hydrogen industry has not achieved effective commercialization, primarily due to the disparity between hydrogen production costs and terminal demand, as well as a lack of diverse application scenarios [6][7]. - The cost of gray hydrogen is approximately 10 yuan per kilogram, while green hydrogen costs between 30 to 40 yuan per kilogram, making it economically unfeasible for widespread adoption [6][7]. Transportation and Usage Challenges - Transportation costs for hydrogen are high, with storage and transportation accounting for 30% to 50% of terminal costs, and the current infrastructure is limited [7][8]. - The hydrogen fuel cell vehicle market is overly reliant on the logistics sector, which has shown vulnerability, as evidenced by a 12.6% decline in hydrogen heavy truck sales in 2024 [8]. Industry Demands - Industry stakeholders are calling for continuous policy support, a unified national hydrogen highway network, specialized financing channels, cost reduction for green hydrogen, and diversification of application scenarios [9][10]. - There is a consensus on the need for a long-term mechanism to prevent policy gaps that could stifle capital investment and technological progress [9][10]. Future Outlook - Despite current challenges, there is optimism regarding the potential for hydrogen fuel cell vehicles to achieve cost parity with diesel vehicles within the next 3 to 5 years [11]. - The industry anticipates that the next five years will be critical for policy alignment, cost reduction, and expanding application scenarios to ensure sustainable growth [11].

证券代码：688339 证券简称：亿华通 公告编号：2025-034 北京亿华通科技股份有限公司 关于发行股份购买资产并募集配套资金 暨关联交易事项的进展公告 根据上海证券交易所的相关规定，经公司申请，公司股票（证券简称：亿华 通，证券代码：688339）自2025年2月27日开市起停牌，具体内容详见公司于2025 年2月27日在上海证券交易所网站（www.sse.com.cn）披露的《北京亿华通科技 股份有限公司关于筹划发行股份购买资产并募集配套资金事项的停牌公告》（公 告编号：2025-002）以及于2025年3月6日披露的《北京亿华通科技股份有限公司 关于筹划发行股份购买资产并募集配套资金的进展并继续停牌的公告》（公告编 号：2025-004）。 2025年3月12日，公司召开第三届董事会第二十一次会议和第三届监事会第 十七次会议审议通过了《关于公司发行股份购买资产并募集配套资金方案的议 案》《关于<北京亿华通科技股份有限公司发行股份购买资产并募集配套资金暨关 联交易预案>及其摘要的议案》等与本次交易相关的议案，具体内容详见公司于 2025年3月13日披露在上海证券交易所网站的相关公告。 根据相关规定， ...

● 本报记者昝秀丽 华大九天（301269）拟收购芯和半导体，构建从芯片到系统级EDA解决方案；中国船舶收购中国重工 （601989），成为A股上市公司规模最大的吸收合并交易；亿华通拟收购旭阳氢能，成为国内氢能行 业"首单"民企深度重组案例……自《关于深化上市公司并购重组市场改革的意见》(简称"并购六条")发 布以来，上市公司开展并购重组交易热度持续升温，北京地区上市公司共发布并购交易273单，其中13 单构成重大资产重组。 接受中国证券报记者采访的市场人士认为，并购重组已成为推动北京建设国际科技创新中心的重要赋能 手段。随着"并购六条"及相关配套政策持续推进和落实，北京地区并购重组市场有望进一步活跃。 示范效应显著 2024年至今，北京证监局已调研走访辖区287家上市公司，宣讲并购重组政策、宣传成功案例，覆盖面 超过北京上市公司总数的60%。北京证监局与北京市委金融办联合召开并购重组座谈会，为77家上市公 司、15家未上市企业、16家证券公司及并购基金、商业银行等并购重组主要市场主体搭建对接平台。北 京证监局与北京市国资委联合开展并购重组专题培训，推动市属企业发挥带头作用。北京上市公司协会 等正在组建并购重 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年5月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 北京億華通科技股份有限公司（「本公司」） 呈交日期: 2025年6月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 688339 | 說明 | | 於上海證券交易所科創板上市 | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 195,787,119 | RMB | | 1 RMB | | 195,787,119 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 195,787,119 | RMB | | 1 RMB | | 195,787,119 | | 2. 股份 ...

5月29日晚间，亿华通公告称，本着合理布局研发测试能力及高效使用募集资金的原则，公司决定终止 募投项目"燃料电池综合测试评价中心项目"（下称"燃料电池测试项目"）。 该项目原计划总投资额2.2亿元，拟使用募集资金1.5亿元。自2021年7月至今，募集资金实际投入合计 3243.55万元，剩余1.25亿元将继续留存在募集资金专用账户。 5月30日，亿华通A股股价收跌2.5%，H股股价尾盘涨收3.7%。 叫停1.5亿元募投项目 燃料电池测试项目最早披露于2021年6月末。 彼时，亿华通通过定增募集资金约2亿元，其中1.5亿元用于燃料电池测试项目，剩余近5000万元用于补 充流动资金。 燃料电池测试项目拟建成集成零部件级、子系统级、系统级以及整车级的综合测试评价中心，以优化亿 华通产品核心指标、提升公司产品正向开发能力。项目原定建设周期为31个月，但因更改了实施主体和 地点，导致建设进度延后，预计完成时间也延期至2025年6月。 但历经近四年，燃料电池测试项目的建设进度仍然迟缓。截至5月20日，项目募集资金实际投入合计仅 3243.55万元。 亿华通对此解释称，项目建设期间氢能产业政策频出，市场参与者显著增加，市场 ...

Market Overview - Uncertainty over tariff outlook suppresses rebound in US stocks, with major indices closing higher: Dow Jones up 0.28%, S&P 500 up 0.4%, and Nasdaq up 0.39% [1] - Nvidia shares rise over 3% post-earnings, while Best Buy falls over 7%, C3.ai surges nearly 21%, and Dell sees a post-market increase of over 5% [1] - Chinese concept stocks index rises over 1%, ending a seven-day decline, with notable gains in stocks like Aiyu Holdings up 7.81%, JD.com up 4.31%, and Xpeng up 3.98% [1] Corporate Actions - Huang Renxun plans to sell up to 6 million shares of Nvidia, valued at over $800 million, significantly exceeding previous sales [3] - Dell Technologies reports AI server orders exceeding expectations, with a bright revenue outlook [4] Domestic Developments - The Central Committee and State Council issue opinions to enhance the market-oriented allocation of resource and environmental factors, encouraging the expansion of pollutant discharge rights trading [5] - The launch of the Hongdao operating system marks a significant advancement in China's foundational software for intelligent robots, supporting the autonomy of domestic robot operating systems [5] Industry Insights - The Ministry of Commerce and other departments release key enterprises and projects for national cultural exports for 2025-2026 [6] - Zhejiang issues implementation opinions to promote the innovative development of intelligent computing cloud, aiming for a scale of 60 EFlops by 2027 [7] - The establishment of a pilot base for embodied intelligence by Yushun Technology and Hangzhou Data Group [9] Stock Market Trends - Recent analysis indicates a market recovery with major indices and stocks showing upward movement after a period of adjustment, with a focus on technology, finance, and new consumption sectors [11] - The feed industry sees price increases of 50-100 yuan per ton due to rising corn prices, with expectations of continued upward trends in corn prices [12] - The carbon neutrality initiative aims to establish a market-oriented trading system for carbon emissions, water usage, and pollutant discharge by 2027, enhancing market activity and price formation mechanisms [13] New Initiatives - Douyin Group establishes a short drama copyright center to enhance copyright management and support quality production [14] - Zhiyuan Robotics announces its humanoid robot has received multiple certifications, marking a significant achievement in safety and technology standards [15][16] Upcoming IPOs - Yingshi Innovation plans to issue shares on the Sci-Tech Innovation Board at a price of 47.27 yuan per share, requiring a minimum market value of 65,000 yuan for top-tier subscriptions [17] Company Announcements - Guangyang Co. terminates the acquisition of 100% equity in Yinjing Technology, leading to stock resumption [18] - Shuanglin Co. plans to raise no more than 1.5 billion yuan for the industrialization of roller screw and joint modules [18] - Yuntian Lifa's DeepEdge10 chip has achieved commercialization in robotics and servers [18]

Group 1 - Megui's major shareholders plan to reduce their holdings by a total of up to 5% of the company's shares, with Beijing Yindi Investment Co., Ltd. and its concerted parties planning to reduce by 2.5% and shareholder Lu Chunquan and his concerted parties also planning to reduce by 2.5% [1] - The reduction may impact market sentiment, and investors should monitor subsequent stock price fluctuations, although the company's fundamentals remain unchanged [1] Group 2 - Yihuatong announced the termination of the fundraising project "Fuel Cell Comprehensive Testing and Evaluation Center Project" after assessing the economic environment, industry trends, and current operational conditions [2] - The termination of the project will not adversely affect the company's research and development efforts or business operations, indicating a focus on future strategic adjustments [2] Group 3 - The silicon wafer prices have remained stable as of May 29, with most companies showing a strong willingness to maintain prices, while only a few smaller firms are selling at lower prices [3] - The stability in silicon wafer prices is attributed to a recovery in market sentiment and an increase in order transactions from upstream and downstream, particularly with strong demand for 210 model silicon wafers [3] - The outlook for the silicon wafer market suggests continued stability in the short term, supported by manufacturers' efforts to reduce supply and maintain prices [3]

Core Viewpoint - Beijing Yihua Technology Co., Ltd. is conducting a board of directors re-election process as the term of the third board has expired, in accordance with relevant laws and regulations [1][2]. Board Re-election Nomination - The board has nominated Zhang Guoqiang, Song Haiying, Dai Dongzhe, and Song Feng as candidates for the fourth board of non-independent directors, with Zhang, Song, and Dai being executive director candidates, and Song Feng as a non-executive director candidate [2]. - The independent non-executive director candidates are Ji Xuehong, Chen Suquan, and Li Zhijie, all of whom have obtained independent director qualification certificates [2]. - The election of non-independent and independent non-executive directors will be conducted through a cumulative voting system at the shareholders' meeting [2]. Other Information - The qualifications of the nominated directors meet the requirements set by relevant laws and regulations, and none of the candidates are disqualified from serving as directors [2][3]. - The current third board will continue to perform its duties until the new board is elected [3]. - The new board will take office from the date of approval at the 2024 annual shareholders' meeting and will serve a term of three years [2].

证券代码：688339 证券简称：亿华通 公告编号：2025-027 北京亿华通科技股份有限公司 关于取消监事会并修订《公司章程》 及部分管理制度的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 北京亿华通科技股份有限公司（以下简称"公司"）于 2025 年 5 月 29 日召开 第三届董事会第二十四次会议，审议通过了《关于公司取消监事会暨修订 <公司> 章程>的议案》《关于修订 <股东大会议事规则> 的议案》《关于修订 <董事会议事> 规则>的议案》 《关于修订部分公司管理制度的议案（一）》 《关于修订部分公司管 理制度的议案（二）》，现将相关情况公告如下： 一、 取消监事会并修订《公司章程》的原因及依据 为符合对上市公司的规范要求，进一步完善公司治理，根据《中华人民共和 国公司法》《中华人民共和国证券法》《上市公司章程指引》《上海证券交易所科 创板股票上市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号—— 规范运作》等法律法规、规范性文件的规定，结合公司的实际情况及需求，公司 拟对《北京亿华通科技股份 ...

证券代码：688339 证券简称：亿华通 公告编号：2025-030 北京亿华通科技股份有限公司 关于终止以简易程序向特定对象发行股票的募投项目的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 北京亿华通科技股份有限公司（以下简称"公司"）于 2025 年 5 月 29 日召 开第三届董事会第二十四次会议、第三届监事会第十九次会议，分别审议并通过 了《关于终止以简易程序向特定对象发行股票的募投项目的议案》，同意公司终 止募投项目"燃料电池综合测试评价中心项目"。该事项尚需提交公司股东大会 审议。 一、 募集资金基本情况 根据中国证券监督管理委员会于 2021 年 7 月 9 日出具的《关于同意北京亿 华通科技股份有限公司向特定对象发行股票注册的批复》（证监许可20212357 号）核准，公司获准向特定对象非公开发行普通股 850,991 股，每股面值人民币 元，扣除相关发行费用人民币 4,766,650.85 元（不含增值税），实际募集资金 净额为人民币 195,233,253.97 元。截止 202 ...