| 证券代码：600326 | 证券简称：西藏天路 | 公告编号：2025-074 号 | | --- | --- | --- | | 债券代码：188478 | 债券简称：21 天路 01 | | 西藏天路股份有限公司 关于利用闲置自有资金进行现金管理的公告 ●委托理财期限：自西藏天路股份有限公司（以下简称"西藏天路"或"公 司"）第七届董事会第二十一次会议审议通过之日起一年内。 ●履行的审议程序：公司于 2025 年 10 月 30 日召开第七届董事会第二十一 次会议，审议通过了《关于公司利用自有闲置资金进行现金管理的议案》，同意 公司在未来一年内使用累计不超过人民币 5 亿元购买保本固定收益型或保本浮 动收益型凭证产品。 一、理财概述 （一）现金管理目的 为进一步提高公司资金使用效率，增加公司现金资产收益，实现股东利益最 大化，公司拟利用闲置的自有资金进行现金管理。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： ●委托理财受托方：证券公司、银行等金融机构 ●本次委托理财金额：总额不超过人民币 5 亿元闲 ...

| 证券代码：600326 | 证券简称：西藏天路 | 公告编号：2025-075 号 | | --- | --- | --- | | 债券代码：188478 | 债券简称：21 天路 01 | | 西藏天路股份有限公司 关于修改公司章程的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 为全面贯彻落实最新法律法规要求，确保公司治理与监管规定保持同步，根 据 2024 年 7 月 1 日起实施的《中华人民共和国公司法》（以下简称"《公司法》"） 《上市公司章程指引（2025 年修订）》（以下简称"《章程指引》"）等相关 法律法规、规章及其他规范性文件的规定，并结合公司实际情况，公司拟取消监 事会并修订《公司章程》。 公司于 2025 年 10 月 30 日召开第七届董事会第二十一次会议，审议通过了 关于取消监事会并修改公司章程的议案，同意公司取消监事会并对《公司章程》 进行修订，本议案尚需提交公司股东大会审议。公司《监事会议事规则》等监事 会相关制度将予以废止，公司现任监事将自公司股东大会审议通过本次取消监事 会事项之日起 ...

| 证券代码：600326 | 证券简称：西藏天路 | 公告编号：2025-077 号 | | --- | --- | --- | | 债券代码：188478 | 债券简称：21 天路 01 | | 西藏天路股份有限公司 单位：人民币 万元 序号 发包方名称 承包方名称 项目名称（全 称） 合同金额 合同签订 日期 合同履行期限 1 西藏雪域天创 发展投资有限 公司 西藏天源路桥 有限公司 天创·卓吉 EPC 总承包项目 30,000.00 2025年7 月8日 900 天 合计 - - - 30,000.00 - - 西藏天路股份有限公司董事会 2025 年 10 月 31 日 2025 年第三季度新签施工合同情况公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 新签施工合同 1 项，合同总额 30,000.00 万元。具体如下： 2025 年第三季度，西藏天路股份有限公司及主要建筑类子公司 特此公告。 ...

（2025 年 10 月 修订草案） z . 第一章 总则 第一条 为维护公司、股东和债权人的合法权益，规范公司的组织和行为， 根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券法》 （以下简称《证券法》）和其他有关规定，制订本章程。 第二条 西藏天路股份有限公司系依照《公司法》和其他有关规定成立的股 份有限公司（以下简称"本公司"或"公司"）。 公司经西藏自治区人民政府藏政函（1999）80 号文和和西藏自治区经济贸 易体制改革委员会藏经委企复（1999）第 72 号文批准，以发起方式设立；在西 藏自治区工商行政管理局注册登记，取得营业执照，公司统一社会信用代码为 91540000710905111C。 第三条 公司于 2000 年 12 月 19 日经中国证券监督管理委员会证监发行字 [2000]179 号文核准，首次向社会公众发行人民币普通股 4000 万股，全部为向 境内投资人发行的以人民币认购的内资股(即人民币普通股)，于 2001 年 1 月 16 日在上海证券交易所上市。经中国证券监督管理委员会证监发行字[2007]200 号 文核准，2007 年 9 月 4 日公司向境内 ...

| 证券代码：600326 | 证券简称：西藏天路 | | 公告编号：2025-076 号 | | --- | --- | --- | --- | | 债券代码：188478 | 债券简称：21 天路 | 01 | | 一、 召开会议的基本情况 (一)股东大会类型和届次 2025年第四次临时股东大会 (二)股东大会召集人：董事会 西藏天路股份有限公司 关于召开2025年第四次临时股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 11 月 17 日 15 点 30 分 召开地点：西藏拉萨市夺底路 14 号公司 6610 会议室 股东大会召开日期：2025年11月17日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自20 ...

| 证券代码：600326 | 证券简称：西藏天路 | 公告编号：2025-073 号 | | --- | --- | --- | | 债券代码：188478 | 债券简称：21 天路 | 01 | 西藏天路股份有限公司 第七届董事会第二十一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 西藏天路股份有限公司（以下简称"公司"）第七届董事会第二十一次会议 于 2025 年 10 月 30 日（星期四）以通讯方式召开。通知以书面方式于会议召开 十日前发送至公司各位董事、监事及高级管理人员。本次会议应出席董事 9 人， 实际出席董事 9 人。会议召开及表决程序符合《公司法》《公司章程》及《董事 会议事规则》的规定。经与会董事以通讯方式表决，形成决议如下： 一、审议通过了《关于公司 2025 年第三季度报告的议案》 本议案经由董事会审计委员会审议通过，并同意提交董事会审议。内容详见 同日披露于上海证券交易所 http://www.sse.com.cn 网站上的《西藏天路股份 有限公司 2025 年第三季度报告》。 为 ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥1,003,700,394.84, representing a year-on-year increase of 15.51%[4] - The total profit for the period was ¥168,768,319.68, a significant increase of 470.73% compared to the same period last year[4] - The net profit attributable to shareholders was ¥134,492,318.09, marking a remarkable turnaround from a loss of ¥6,596,960.00 in the previous year[4][10] - The net cash flow from operating activities was ¥143,831,160.70, up 38.79% year-on-year[4] - Total profit for the reporting period reached 470.73 million, driven by increased gross profit in the construction and building materials sectors, as well as gains from the disposal of financial assets[18] - Net profit attributable to shareholders for the reporting period was 9,864.85 million, reflecting growth in gross profit from the construction and building materials sectors[18] - Net profit for the first three quarters of 2025 was CNY 34,638,873.87, a significant recovery from a net loss of CNY 68,551,796.50 in the same period of 2024[31] - The total equity increased to CNY 5,876,720,085.06 from CNY 5,764,097,530.79, representing a growth of about 2%[30] - The total comprehensive income for the first three quarters of 2025 was CNY 37,560,626.13, compared to a loss of CNY 51,358,759.47 in 2024[32] Segment Performance - The construction segment's revenue increased by ¥28,713.46 million, driven by several ongoing projects reaching peak construction phases[7][10] - The building materials segment saw a revenue increase of ¥7,264.65 million, attributed to higher sales volumes from subsidiaries[8] - The company reported a net profit of ¥31,117,978.14 in the building materials segment, a significant improvement from the previous year's profit of ¥5,455,811.31[10] - The company is facing challenges in the construction segment, with net losses primarily due to high management costs and financial expenses[10] - The net profit attributable to shareholders from other segments was -7.9985 million yuan, primarily due to a significant increase in settlement supervision fees of 11.4917 million yuan from the wholly-owned subsidiary Tianying Company[12] - The net profit attributable to shareholders from the investment segment was 74.008 million yuan, including an investment gain of 60.7299 million yuan from selling 25 million shares of China Power Construction, with a total transaction amount of 183,678,187.38 yuan[12] Cash Flow and Assets - The net cash flow from operating activities for the first three quarters of 2025 was 326.9844 million yuan, an increase of 115.93% compared to 151.4301 million yuan in the same period last year[13] - The company's trading financial assets decreased by 36.07% due to the sale of part of its holdings in other listed companies' non-publicly issued stocks[16] - The accounts receivable increased by 73.70% due to an increase in commercial acceptance bills[16] - The construction in progress increased by 44.01% mainly due to increased investment in the building materials sector[16] - The company's other current liabilities decreased by 75.77% primarily due to a reduction in the amount of pending input tax to be transferred[16] - The company's cash and cash equivalents stood at RMB 2,249,897,270.18, down from RMB 2,309,000,663.09, indicating a decrease of about 2.2%[24] - The company's total assets amounted to RMB 12,486,941,910, a decrease from RMB 12,818,089,407.28 as of December 31, 2024, reflecting a decline of approximately 2.6%[24]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 210,461[20] - The largest shareholder, Tibet Construction Materials Group Co., Ltd., holds 23.52% of the shares[20] Research and Development - Research and development expenses for the year-to-date period amounted to 39.34 million, mainly due to an increase in R&D projects[17] - Research and development expenses rose to CNY 56,409,190.40 in 2025 from CNY 40,482,051.60 in 2024, marking an increase of 39.4%[30] - Research and development expenses increased to ¥4,311,558.42 in 2025, up from ¥567,865.03 in 2024, indicating a focus on innovation[40] Investment Activities - Non-operating income included government subsidies of 192.5234 million yuan, which are closely related to the company's normal business operations[14] - The company recognized an investment income of 8.4764 million yuan from cash dividends received from other listed companies' non-publicly issued A-shares[12] - Investment income for the year-to-date period was 273.39 million, primarily from the disposal of shares in other publicly listed companies[17] - The company reported a significant increase in investment income, totaling ¥86,103,197.80 in 2025, compared to ¥21,671,793.94 in 2024[40] Liabilities and Equity - The company's total liabilities decreased to CNY 6,610,221,824.94 from CNY 7,053,991,876.49 year-over-year, indicating a reduction of approximately 6.3%[30] - The company's long-term equity investments increased to CNY 727,616,860.70 from CNY 693,563,497.45, marking an increase of approximately 4.9%[25] - The company's long-term borrowings increased to CNY 816,434,178.65 from CNY 692,364,826.13, reflecting a rise of approximately 17.9%[30] - The total liabilities decreased to CNY 4,519,204,839.28 from CNY 4,568,969,165.22, indicating a reduction of 1.1%[38] - The total equity of the company as of September 30, 2025, was CNY 3,243,240,322.87, up from CNY 3,158,955,000.00 at the end of 2024[38]

Core Insights - A total of 490 stocks in the Shanghai and Shenzhen markets have experienced net outflows of main funds for five consecutive days or more as of October 29 [1] - The stock with the longest continuous net outflow is Zhongju Gaoxin, with 31 days of outflows, followed by Hengshen New Materials with 21 days [1] - The largest total net outflow amount is from China Merchants Bank, with a cumulative outflow of 3.093 billion yuan over 12 days [1] Group 1: Stocks with Longest Net Outflows - Zhongju Gaoxin has seen net outflows for 31 days, with a total outflow of 559 million yuan and a cumulative decline of 6.91% [1] - Hengshen New Materials has recorded net outflows for 21 days, totaling 197 million yuan, with a decline of 9.80% [3] - China Merchants Bank has the highest net outflow amount of 3.093 billion yuan over 12 days, with a net outflow ratio of 6.98% and a cumulative increase of 1.65% [1] Group 2: Other Notable Stocks - Guotai Junan has experienced net outflows for 10 days, amounting to 1.877 billion yuan, with a net outflow ratio of 7.89% and a cumulative increase of 2.70% [1] - Shengbang Co. has seen net outflows for 12 days, totaling 1.826 billion yuan, with a net outflow ratio of 9.52% and a cumulative decline of 10.65% [1] - Huajian Group has recorded net outflows for 6 days, with a total outflow of 1.713 billion yuan and a significant decline of 40.29% [1] Group 3: Stocks with Significant Outflow Ratios - Jianan Intelligent has the highest net outflow ratio at 14.74%, with a decline of 2.98% over the past 5 days [1] - Other notable stocks with high outflow ratios include Huayi Development at 11.91% and Pianzaihuang at 11.84% [1] - The overall trend indicates a significant outflow of funds from various sectors, reflecting investor sentiment and market conditions [1]

| 证券代码：600326 | 证券简称：西藏天路 | | 公告编号：2025-072 号 | | --- | --- | --- | --- | | 债券代码：188478 | 债券简称：21 天路 | 01 | | 西藏天路股份有限公司 关于"天路转债"到期兑付结果暨股份变动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任 重要内容提示： ●到期兑付数量：42,730 张 ●到期兑付总金额：人民币 4,700,300.00 元 ●兑付资金发放日：2025 年 10 月 28 日 ●可转债摘牌日：2025 年 10 月 28 日 经中国证券监督管理委员会《关于核准西藏天路股份有限公司公开发行可转 换公司债券的批复》(证监许可(2019)1574 号)核准，西藏天路股份有限公司(以 下简称"公司")公开发行了 10,869,880 张可转换公司债券(以下简称"天路转 债")，每张面值人民币 100 元，发行总额人民币 108,698.80 万元，期限 6 年。 经上海证券交易所自律监管决定书(2019)259 号文同意，公 ...

Market Overview - The Shanghai Composite Index fell by 0.22% on October 28, with 10 sectors experiencing gains, led by the comprehensive and defense industries, which rose by 2.06% and 1.07% respectively [1] - The building materials sector saw a slight increase of 0.01% with a net inflow of 286 million yuan in capital [1] Building Materials Sector - Within the building materials sector, 71 stocks were tracked, with 38 stocks rising and 3 hitting the daily limit up, while 33 stocks declined [1] - Notable stocks with significant capital inflow included Honghe Technology, which had a net inflow of 336 million yuan, followed by China National Materials and International Composite Materials with inflows of 162 million yuan and 86.3 million yuan respectively [1] - The top three stocks with the largest capital outflow were Oriental Yuhong, Tibet Tianlu, and Conch Cement, with outflows of 81.54 million yuan, 81.08 million yuan, and 60.64 million yuan respectively [1] Key Stock Performances - Honghe Technology experienced a rise of 10.01% with a turnover rate of 3.09% and a capital flow of approximately 335.56 million yuan [2] - China National Materials increased by 6.87% with a capital flow of about 162.44 million yuan [2] - International Composite Materials rose by 5.23% with a capital flow of approximately 86.30 million yuan [2] - Conch Cement saw a decline of 1.52% with a capital outflow of 60.64 million yuan [2] - Oriental Yuhong decreased by 1.13% with a capital outflow of 81.54 million yuan [2]