永安行再融资8.4亿补血，多项业务亏损毛利率为负

Financing and Investment Progress - The company has responded to inquiries regarding financial accounting issues related to its previous fundraising projects, stating that the investment progress for the shared electric bike intelligent system project is 64.18% as of April 30, 2025, with a planned investment of 736.48 million yuan [1] - The company plans to raise no more than 840 million yuan in this financing round, which will be used entirely to supplement working capital, addressing a total funding gap of 884.76 million yuan [1] Business Operations - The company's main business segments include system operation services, shared mobility, hydrogen sales and services, smart living, and system sales, with a decline in revenue from system operation services and shared mobility, while hydrogen sales and services have shown growth [2] - The company reported continuous losses during the reporting period, with net profit attributable to the parent company being -127.16 million yuan, -164.60 million yuan, -146.92 million yuan, and -25.95 million yuan, primarily due to declining revenues and high credit impairment losses [2] - The gross margin for system operation services and shared mobility has turned negative, attributed to reduced contract amounts upon renewal and competition from dockless bike-sharing [2] Financial Position - The company has experienced fluctuations in cash balances and trading financial assets, with an increasing ratio of bad debt provisions for accounts receivable [2] - The company holds a certain amount of cash, certificates of deposit, and financial products, mainly due to net cash inflows from operating activities and funds raised from convertible bonds, although some cash is subject to restrictions on use [2] Future Plans - The company aims to actively expand its hydrogen sales and services, as well as its smart living business, leveraging synergies with the Hello Group and intensifying efforts to collect accounts receivable to reverse its loss situation [2]