北交所信息更新 天马新材（920971.BJ） 募投项目投产有望带来增长弹性，2025Q1-3 营收同比+14.29% 2025 年 11 月 03 日 投资评级：增持（维持） | 日期 | 2025/11/3 | | --- | --- | | 当前股价(元) | 37.37 | | 一年最高最低(元) | 49.79/22.00 | | 总市值(亿元) | 39.27 | | 流通市值(亿元) | 32.03 | | 总股本(亿股) | 1.05 | | 流通股本(亿股) | 0.86 | | 近 3 个月换手率(%) | 412.58 | 北交所研究团队 诸海滨（分析师） 2025Q1-3 公司营收 2.07 亿元（+14.29%），归母净利润 1070.27 万元（-57.54%） 2025 年前三季度公司实现营收 2.07 亿元，同比增长 14.29%，归母净利润 1070.27 万元，同比减少 57.54%，扣非归母净利润 992.33 万元，同比减少 53.44%。受募 投项目结项带来折旧影响，我们下调 2025 年盈利预测，维持 2026-2027 年盈利 预测，预计 2025-2027 年归 ...

证券代码：920971 证券简称：天马新材 公告编号：2025-140 河南天马新材料股份有限公司 □业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担个别及连带法律责任。 一、 投资者关系活动类别 √特定对象调研 √其他 （投资者线上交流会） 二、 投资者关系活动情况 活动时间：2025 年 10 月 30 日 活动地点：进门财经 三、 投资者关系活动主要内容 问题一：能否简要拆解各类产品三季度的营收情况及同比增速情况？ 回答：2025 年上半年，营业成本增加的主要原因是 2024 年下半年原材料 工业氧化铝价格较大幅度上涨，而由于生产周期与实现销售期间存在时滞，高 参会单位及人员：西部证券、北大方正人寿保险、滦海投资、平安基金、创 金合信、景顺长城基金、递归私募、第一创业自营 1 成本存货在 2025 年上半年实现销售并结转营业成本，同时，募投项目投入使 用，摊销增加，导致营业成本增长幅度高于营业收入增长幅度。 上市公司接待人 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 920971 | 天马新材 | 37.37 | -3.88% | 9.09万 | 3.53亿 | | 920719 | 宁新新材 | 15.35 | -3.64% | 5.71万 | 8869.55万 | | 688300 | 联瑞新材 | 61.41 | -3.44% | 7.00万 | 4.25 乙 | | 603612 | 索通发展 | 24.03 | -2.40% | 1 22.58万 | 5.41亿 | | 920175 | 东方恢赏 | 13.13 | -2.01% | 4.29万 | 5651.62万 | | 920675 | 秉扬科技 | 12.00 | -1.32% | 3.11万 | 3777.96万 | | 603688 | 石英股份 | 40.95 | -0.78% | 12.46万 | 5.05亿 | | 920832 | 齐鲁华信 | 8.28 | 0.00% | 2.60万 | 2148.81万 | | 605086 ...

Market Overview - The non-metal materials sector experienced a decline of 0.86% on October 30, with Bingyang Technology leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Notable gainers included: - Liliang Diamond (301071) with a closing price of 42.00, up 3.86% and a trading volume of 359,600 shares, totaling 1.466 billion yuan [1] - Tianma New Materials (920971) closed at 37.62, up 3.12% with a trading volume of 108,700 shares, totaling 406 million yuan [1] - Significant decliners included: - Bingyang Technology (920675) closed at 12.13, down 5.23% with a trading volume of 70,500 shares, totaling 87.4716 million yuan [2] - Quartz Shares (603688) closed at 42.08, down 2.05% with a trading volume of 260,200 shares, totaling 1.117 billion yuan [2] Capital Flow - The non-metal materials sector saw a net outflow of 210 million yuan from institutional investors, while retail investors had a net inflow of 266 million yuan [2][3] - The capital flow for key stocks showed: - Liliang Diamond had a net outflow of 34.2155 million yuan from institutional investors, but a net inflow of 30.9384 million yuan from retail investors [3] - Longgao Co. (605086) experienced a net outflow of 1.7845 million yuan from institutional investors, with a net inflow of 1.0490 million yuan from retail investors [3]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | | 成交额(元) | | --- | --- | --- | --- | --- | --- | --- | | 605086 | 龙高股份 | 24.94 | -2.58% | | 2.17万 | 5452.84万 | | 688300 | 联瑞新材 | 65.20 | -0.38% | | 6.97万 | 4.56 Z | | 603826 | 坤彩科技 | 18.46 | -0.27% | | 1.91万 | 3517.32万 | | 001296 | 长江材料 | 23.76 | 0.04% | 3.46万 | | 8206.75万 | | 301071 | 力量钻石 | 40.44 | 1.07% | | 15.88万 | 6.39 Z | | 603688 | 石英股份 | 42.96 | 1.23% | | 31.99万 | 13.64亿 | | 920832 | 齐鲁华信 | 8.45 | 1.81% | | 5.94万 | 4890.14万 | | 603612 | 索通发展 | 26.59 | 4.27% | | 22.92 ...

Core Insights - The North Exchange stocks showed strong performance in the afternoon, with the North 50 Index rising nearly 9% [1] - Notable gainers included Huaxin Yongdao up 25%, Better Ray up over 18%, and Fujida up over 16% [1] - The Chairman of the North Exchange, Lu Songbin, announced plans to optimize the index system and introduce the North 50 ETF, enhancing trading convenience [1] Company Performance - Huaxin Yongdao: October increase of 25.21%, total market value of 4.057 billion, year-to-date increase of 5.52% [2] - Better Ray: October increase of 18.74%, total market value of 39.6 billion, year-to-date increase of 82.19% [2] - Fujida: October increase of 16.37%, total market value of 6.407 billion, year-to-date increase of 25.64% [2] - Tianma New Materials: October increase of 13.88%, total market value of 3.846 billion, year-to-date increase of 45.86% [2] - Tonghui Electronics: October increase of 13.64%, total market value of 7.052 billion, year-to-date increase of 211.92% [2] - Shuguang Digital Innovation: October increase of 13.19%, total market value of 19.2 billion, year-to-date increase of 42.24% [2]

证券代码：920971 证券简称：天马新材 公告编号：2025-138 河南天马新材料股份有限公司 第四届董事会第六次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 10 月 28 日 6.会议列席人员：公司高级管理人员 7.召开情况合法合规的说明： 本次会议的召集、召开、议案审议程序符合有关法律、行政法规、部门规章、 规范性文件和《公司章程》的规定。 （二）会议出席情况 会议应出席董事 5 人，出席和授权出席董事 5 人。 2.会议召开地点：公司会议室 3.会议召开方式：现场及通讯方式 4.发出董事会会议通知的时间和方式：2025 年 10 月 24 日以通讯或直接送达 方式发出 5.会议主持人：董事长马淑云 董事长马淑云女士、独立董事黄志刚先生、王金淑女士因工作原因以通讯方 式参与表决。 二、案审议情况 （一）审议通过《关于公司 2025 年第三季度报告的议案》 1.议案内容： 1 根据《中华人民共和国公司法》 ...

Core Insights - The non-metal materials sector experienced a significant increase of 2.63% on October 27, with Lianrui New Materials leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Stock Performance - Lianrui New Materials (688300) closed at 63.63, with a rise of 10.28% and a trading volume of 129,000 shares, amounting to a transaction value of 825 million yuan [1] - Suotong Development (603612) rose by 4.15% to close at 25.60, with a trading volume of 250,200 shares and a transaction value of 639 million yuan [1] - Longgao Co., Ltd. (605086) increased by 3.34% to 24.72, with a trading volume of 26,700 shares and a transaction value of 65.33 million yuan [1] - Tianma New Materials (920971) saw a 2.49% increase, closing at 32.96, with a trading volume of 28,400 shares and a transaction value of 93.34 million yuan [1] - Kuncai Technology (603826) had a marginal increase of 0.16%, closing at 18.47, with a trading volume of 23,600 shares and a transaction value of 43.63 million yuan [1] - Qilu Huaxin (920832) and Dongfang Xiyuan (920175) experienced slight declines of 0.24% and 0.39%, respectively [1] Capital Flow - The non-metal materials sector saw a net outflow of 120 million yuan from institutional investors, while retail investors contributed a net inflow of 171 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing while retail investors showed interest in the sector [2] Detailed Capital Flow Analysis - Longgao Co., Ltd. (605086) had a net outflow of 2.27 million yuan from institutional investors but a net inflow of 1.54 million yuan from retail investors [3] - Kuncai Technology (603826) experienced a net outflow of 1.27 million yuan from institutional investors, while retail investors contributed a net inflow of 0.78 million yuan [3] - Lianrui New Materials (688300) faced a net outflow of 4.81 million yuan from institutional investors, but retail investors contributed a significant net inflow of 8.08 million yuan [3]

Core Insights - The non-metal materials sector increased by 1.1% on October 21, with Bingyang Technology leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - Bingyang Technology (code: 920675) closed at 12.09, with a rise of 7.66% and a trading volume of 43,700 shares, amounting to 51.31 million yuan [1] - Tianma New Materials (code: 920971) saw a closing price of 35.50, up 3.53%, with a trading volume of 43,000 shares and a turnover of 150 million yuan [1] - Longjiang Materials (code: 001296) closed at 23.48, increasing by 3.07%, with a trading volume of 49,100 shares and a turnover of 115 million yuan [1] - Other notable stocks include Qilu Huaxin (code: 920832) at 8.38 (+2.82%), and Quartz Shares (code: 603688) at 38.98 (+2.26%) [1] Capital Flow - The non-metal materials sector experienced a net outflow of 52.73 million yuan from institutional investors, while retail investors saw a net inflow of 72.75 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors were more active [2] Detailed Capital Flow Analysis - Quartz Shares (code: 603688) had a net inflow of 34.63 million yuan from institutional investors, but a net outflow of 28.47 million yuan from retail investors [3] - Longjiang Materials (code: 001296) experienced a net inflow of 7.80 million yuan from institutional investors, while retail investors had a net outflow of 5.81 million yuan [3] - Strength Diamond (code: 301071) faced a significant net outflow of 124 million yuan from institutional investors, despite a net inflow of 71.25 million yuan from retail investors [3]

Market Overview - The non-metal materials sector experienced a decline of 4.54% on October 17, with Tianma New Materials leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Individual Stock Performance - Tianma New Materials (code: 920971) closed at 36.72, down 9.11% with a trading volume of 56,700 shares and a transaction value of 219 million [1] - Strength Diamond (code: 301071) closed at 40.62, down 7.58% with a trading volume of 263,700 shares and a transaction value of 1.086 billion [1] - Quartz Shares (code: 603688) closed at 38.21, down 7.05% with a trading volume of 199,300 shares and a transaction value of 779 million [1] - Other notable declines include Lianrui New Materials (down 5.62%), Ningxin New Materials (down 3.15%), and Changjiang Materials (down 2.11%) [1] Capital Flow Analysis - The non-metal materials sector saw a net outflow of 225 million from main funds, while retail investors contributed a net inflow of 188 million [1] - The capital flow for individual stocks indicates that Longgao Co. (code: 605086) had a main fund net inflow of 7.38 million, while other stocks like Strength Diamond and Quartz Shares experienced significant net outflows of 56.80 million and 87.06 million respectively [2]