On October 30, Yihuatong released its third quarterly report for 2023. The report shows that in the first three quarters of this year, business income reached 293 million yuan, a decrease of 24.9% compared with the same period last year . . Net profit loss was about 193 million yuan , down 104.06% year on year. Among them, the third quarter operating income of 139 million yuan, an increase of 15.13% over the same period.
Overall, the company continued its unsatisfactory performance in the first half of the year. In the first half of this year, Yihuatong realized business income of about 154 million yuan, a decrease of 42.96% compared with the same period last year, and net profit loss of about 76.51 million yuan.
At that time, Yihuatong said that the decline in revenue was mainly due to the fact that the company's fuel cell industry was in the early stage of commercialization and its operating performance was volatile.
At the same time, Yihuatong also said that "business income is usually concentrated in the second half of the year." Data show that in the first three quarters of this year, revenue in each quarter was 49 million yuan, 105 million yuan and 139 million yuan respectively. Although revenue in the third quarter increased, there was no significant gap compared with revenue in the second quarter.
In addition, in terms of R & D investment, although Yihuatong invested 118 million yuan in R & D in the first three quarters of this year , 12 million yuan less than same period last year, the proportion of business income increased by 6.94% to 40.29%.
Yihuatong said that this year's research and development will continue to focus on the core technical indicators of fuel cell system, such as environmental adaptability, durability and reliability, to further improve product performance and consistency.
It is worth mentioning that in the hydrogen energy industry, Yihuatong has made great progress this year. Firstly, in terms of hydrogen fuel cells, as of September 30, 2023, more than 3600 vehicles carrying Yihuatong fuel cells have been operating continuously in 23 cities, with a safe operating mileage of more than 200 million kilometers .
Secondly, in the third quarter of this year, two hydrogen energy projects led by Yihuatong, Yining in Xinjiang and Zhangjiakou in Hebei Province, were successively supported by the National Development and Reform Commission and approved by the Hebei Development and Reform Commission.
Among them, Yihuatong and Yining Lianchuang City Construction (Group) Co., Ltd. jointly constructed the first innovative application project of clean low-carbon green hydrogen energy production, storage and utilization in Xinjiang (Yining Green Hydrogen Energy Innovative Application Project in Yili Prefecture), which was supported by 124 million yuan from the central budget; Yihua Ventilation Hydrogen Integrated Source Network Load Storage Comprehensive Demonstration Project (Phase I) plans to construct 24000 standard cubic meters per hour hydrogen production station, supporting hydrogen storage device and 40 MW hydrogen fuel cell power generation system.
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