Zhong Guo Jing Ji Wang·2025-09-10 09:20Core Viewpoint - Yihuatong (688339.SH) has experienced a stock price decline, closing at 23.63 yuan with a drop of 3.75%, currently in a state of share price below its initial public offering (IPO) price [1] Group 1: Company Financials - Yihuatong was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on August 10, 2020, with an IPO price of 76.65 yuan per share, raising a total of 1.351 billion yuan [1] - The company has reported continuous losses for five and a half years, with revenues and net profits showing negative figures from 2020 to 2025 [4] - The revenue figures for Yihuatong from 2020 to 2025 are as follows: 572.29 million yuan, 629.37 million yuan, 738.12 million yuan, 800.70 million yuan, 366.67 million yuan, and 71.93 million yuan respectively [4] Group 2: Capital Increase and Stock Issuance - Yihuatong has conducted multiple capital increases through stock issuance, including a specific issuance of 850,991 shares at 235.02 yuan per share in 2021, raising approximately 200 million yuan [1] - The company has executed stock increases based on capital reserves, with the most recent increase in 2023 resulting in a total share capital of 231,652,081 shares after distributing 66,186,309 shares [2] - The company also listed on the Hong Kong Stock Exchange on January 12, 2023, with a share price of 60 HKD, raising an estimated net amount of approximately 982.8 million HKD (around 862 million yuan) [3]