688339，终止重大资产重组

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].