一、审议通过了《关于终止部分募投项目并将剩余募集资金永久补充流动 资金的议案》 经审议，本次拟终止部分募投项目并将剩余募集资金用于永久补充流动资金， 是公司根据业务发展需要以及项目实际情况做出的审慎决定，有利于提高公司的 资金使用效率，优化资源配置，同时为公司日常生产经营发展提供资金支持，符 合公司长远发展的根本利益，亦符合《深圳证券交易所创业板股票上市规则》《深 圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》等相 关规定，不存在损害公司及全体股东特别是中小股东利益的情况。因此，公司董 事会同意本次终止部分募投项目并将剩余募集资金永久补充流动资金的事项，该 事项尚需提交公司股东会审议。 | 证券代码：300212 | 证券简称：易华录 | | | 公告编号：2026-003 | | --- | --- | --- | --- | --- | | 债券代码：148002 | 债券简称：22 | 华录 | 01 | | 北京易华录信息技术股份有限公司 第六届董事会第十九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 北京易华 ...

Investment Rating - The report indicates that the investment rating for 易华录 (300212.SZ) is under significant pressure due to its financial instability and potential for negative net assets by 2025 [2][3]. Core Insights - 易华录 has experienced a dramatic decline in revenue, with a drop from 2.02 billion in 2021 to an estimated 465 million in 2024, representing a decrease of approximately 77% over four years [6]. - The company's strategic shift from heavy asset construction in data lake infrastructure to a lighter asset model focusing on data solutions and technology services has not yielded the expected results, leading to a decline in both traditional and new business revenues [8][9]. - The company faces severe financial challenges, with cumulative losses exceeding 6 billion by the end of Q3 2025, and a significant risk of being classified as "ST" (Special Treatment) if net assets are confirmed to be negative [3][4]. Financial Performance - The revenue for the first three quarters of 2025 is reported at 410 million, continuing a downward trend of 3.9% [6]. - The digital system and foundational business revenue dropped from 1.775 billion in 2021 to only 213 million in 2024, indicating a severe contraction in this segment [9]. - The company has recorded substantial asset impairment losses, including 776 million in contract asset impairment losses for 2024, contributing to the overall financial distress [12][14]. Debt and Liquidity - As of September 2025, 易华录 has cash reserves of 420 million, while facing short-term borrowings of 3.252 billion and long-term borrowings of 1.368 billion, highlighting significant debt pressure [16].

Core Viewpoint - The recent pre-loss announcement by Yihualu (300212.SZ) has raised significant market concern, indicating that the company expects a negative net profit for 2025, which could lead to a negative net asset value and potential delisting risks [3][6]. Financial Performance - Yihualu has experienced a dramatic decline in revenue, dropping from 2.02 billion yuan in 2021 to an estimated 465 million yuan in 2024, representing a decrease of approximately 77% over four years [7][9]. - Cumulative losses have exceeded 6 billion yuan by the end of Q3 2025, with a projected total revenue of 410 million yuan for the first three quarters of 2025, continuing a downward trend [6][7]. Strategic Transition - The company initiated a strategic transformation in 2021, shifting from a heavy asset model focused on data lake infrastructure to a lighter asset model centered on data solution services [9]. - However, this transition has led to a decline in traditional business while new business segments have not yet matured, resulting in a significant drop in revenue from digital systems and foundational services [11]. Asset Impairment and Financial Strain - Yihualu has faced substantial asset impairment, with a reported 776 million yuan in contract asset impairment losses for 2024, alongside significant reductions in fixed and long-term equity investments [14][16]. - As of September 2025, the company has 420 million yuan in cash but faces a total debt of 81.24 billion yuan, including short-term loans of 32.52 billion yuan and long-term loans of 13.68 billion yuan, indicating severe debt pressure [16].

Group 1 - The core point of the news is that Yihualu (300212) has received preliminary approval for the environmental impact assessment of its indirectly held company, Suzhou Tongyang Nursing Home's Yangcheng Lake Nursing Home renovation project, with a total investment of 20 million yuan [1] - The "A-share Green Report" project aims to enhance the transparency of environmental information for listed companies, utilizing authoritative environmental regulatory data from 31 provinces and 337 cities [1] - The project includes professional data analysis and in-depth interpretation, providing timely updates on environmental risks associated with listed companies and their subsidiaries [1] Group 2 - The latest A-share Green Weekly Report (Issue No. 229) indicates that six listed companies have recently exposed environmental risks [2]

易华录今日跌停，全天换手率10.15%，成交额13.48亿元，振幅7.86%。龙虎榜数据显示，机构净卖出 3983.08万元，深股通净卖出5771.69万元，营业部席位合计净卖出1490.11万元。 深交所公开信息显示，当日该股因日收盘价跌幅达-20.00%上榜，机构专用席位净卖出3983.08万元，深 股通净卖出5771.69万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交2.63亿元，其中，买入成交额为7515.04 万元，卖出成交额为1.88亿元，合计净卖出1.12亿元。 具体来看，今日上榜的营业部中，共有3家机构专用席位现身，即买二、买五、卖二、卖三，合计买入 金额1894.40万元，卖出金额5877.48万元，合计净卖出3983.08万元，深股通为第一大买入营业部及第一 大卖出营业部，买入金额为3662.61万元，卖出金额为9434.30万元，合计净卖出5771.69万元。 资金流向方面，今日该股主力资金净流出2.97亿元，其中，特大单净流出2.70亿元，大单资金净流出 2699.03万元。近5日主力资金净流出8104.37万元。 融资融券数据显示，该股最新（1月14日）两融余额为7 ...

Market Overview - The IT services sector experienced a decline of 3.71% on January 15, with Meidun Technology leading the drop [1] - The Shanghai Composite Index closed at 4112.6, down 0.33%, while the Shenzhen Component Index closed at 14306.73, up 0.41% [1] Stock Performance - Notable gainers in the IT services sector included: - Huasheng Tiancheng (600410) with a closing price of 24.42, up 10.00% [1] - Hailianxun (300277) with a closing price of 14.86, up 5.02% [1] - Haoyun Technology (300448) with a closing price of 9.41, up 3.52% [1] - Significant decliners included: - Meidun Technology (920227) with a closing price of 89.00, down 23.12% [2] - Liangtu Measurement and Control (920116) with a closing price of 115.40, down 20.96% [2] - Zhuoyi Information (688258) with a closing price of 131.20, down 20.00% [2] Capital Flow - The IT services sector saw a net outflow of 8.196 billion yuan from institutional investors, while retail investors contributed a net inflow of 6.009 billion yuan [2][3] - The top stocks by net inflow from institutional investors included: - Huasheng Tiancheng with a net inflow of 4.20 billion yuan [3] - Zimi Co. with a net inflow of 89.86 million yuan [3] - Aerospace Information with a net inflow of 85.10 million yuan [3]

Group 1 - The technology sector is experiencing accelerated fluctuations, with AI application stocks showing mixed performance as of January 15, 2023 [1] - The low-fee cloud computing ETF Huaxia (516630) decreased by 2.61%, while stocks like Shiji Information and Guanglianda hit the daily limit, and Yihualu, Zhongke Tuxing, and Tuershi led the decline [1] - The low-fee entrepreneurial board AI ETF Huaxia (159381) adjusted down by 2.32%, and the communication ETF Huaxia (515050) fell by 1.16% [1] Group 2 - Guojin Securities predicts that 2026 will be a pivotal year for AI applications transitioning from "technology validation" to "commercial promotion" [2] - Key recommended directions include: 1. Super entrance: Large models have evolved into dominant traffic entrances in the AI era 2. AI Infrastructure: Software-defined computing power to secure "shovel-selling" profits 3. High growth: AI technology is advancing, with marketing and animation becoming pioneers in commercialization 4. High barriers: Data flow and workflow create shields, particularly in medical, manufacturing, and management scenarios [2] Group 3 - The cloud computing ETF Huaxia (516630) tracks the cloud computing index (930851) and has the lowest fee rate among ETFs tracking this index, focusing on domestic AI software and hardware computing power [3] - The entrepreneurial board AI ETF Huaxia (159381) supports investment in AI-focused companies, with half of its weight in AI hardware computing power and the other half in AI software applications, offering high elasticity and representativeness [3] - The communication ETF Huaxia (515050) tracks the CSI 5G communication theme index, focusing on the supply chains of Nvidia, Apple, and Huawei, with top holdings including Zhongji Xuchuang, Xinyi Sheng, Lixun Precision, Industrial Fulian, and Zhaoyi Innovation [3]

Group 1 - The AIGC index experienced a decline, with most constituent stocks falling [1] - Notable declines included Yihualu and Zhidema, both dropping over 15%, while Chuanwang Media fell by 8.11%, and Gain Group and Tianyu Digital Science dropped by 7.63% and 7.53% respectively [1]

证券日报网讯 1月14日，易华录发布公告称，公司2025年年度净利润将为负值，且亏损金额将会超过上 一年度经审计的净资产，公司2025年度期末净资产将为负值。 （文章来源：证券日报） ...

易华录公告，经公司财务部门初步测算，公司2025年年度净利润将为负值，且亏损金额将会超过上一年 度经审计的净资产，公司2025年年度期末净资产将为负值。公司将加快推进财务核算工作，尽快披露 2025年年度业绩预告。 ...