E-HUALU(SZ:300212) Sou Hu Cai Jing·2026-01-20 23:48Core Viewpoint - The company Yihualu has decided to terminate two major R&D projects related to AI and data storage, citing macroeconomic pressures and strategic shifts as the primary reasons for this decision [2][6]. Group 1: Project Termination - Yihualu announced the termination of its "Super Storage R&D Project" and "AI Training Resource Library and Global Video Perception Service Platform Project" due to low investment progress of 25.22% and 19.77% respectively [2][4]. - The company plans to use the remaining approximately 355 million yuan from these projects to supplement its working capital for daily operations and business development [2][7]. Group 2: Financial Implications - Approximately 79.57 million yuan of the funds intended for working capital is currently under judicial freeze, which poses a challenge for the company in accessing these funds [3][7]. - Yihualu reported a net loss of 535 million yuan for the first three quarters of 2025, with a negative cash flow from operating activities of 216 million yuan, highlighting the urgency of reallocating funds to support daily operations [11]. Group 3: Strategic Shift - The company is undergoing a strategic transition from its traditional data lake business to focus on data elements and smart transportation, which has influenced the decision to halt the projects [6]. - The termination of the projects reflects a response to changing market demands and technological advancements in the AI sector, indicating a need for the company to adapt to new trends [5][6].