| 转债代码：110060 | 转债简称：天路转债 | | | | --- | --- | --- | --- | | 证券代码：600326 债券代码：188478 | 证券简称：西藏天路 债券简称：21 | 天路 01 | 公告编号：2025-066号 | 西藏天路股份有限公司 2025年第三次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (二)股东大会召开的地点：西藏拉萨市夺底路 14 号公司 6610 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 1,936 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 371,016,426 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 27.7980 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 ...

e 电律师 务所 를 西藏珠穆朗 关于西藏天路股份有限公司,2025年第三次临时股东会之 法 律 意 见 书 CHOMOLUNGMA -LAW FIRM- 201 1 = ' = 珠穆朗玛律师事务所 地址：拉萨市仙足岛南路11号 拉萨乃仓广场6号楼4层 2025.09.26. 2 西藏珠穆朗玛律师事务所关于西藏天路股份有限公司 2025 年第三次 临时股东会之法律意见书 致: 西藏天路股份有限公司 西藏珠穆朗玛律师事务所(以下简称"本所")接受西藏天路股份有限公司 | （以下简称"公司"）的委托,指派旦增卓嘎律师、益西达瓦律师（以下简称"本 | | --- | | 所律师"）出席公司 2025年第三次临时股东会（以下简称"本次股东会"）。 | | 本所律师根据《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》"）及中国证券监督管理委员会（以 | | 下简称"中国证监会"）发布的《上市公司股东会规则(2025 修订)》（以下简称 | | 《股东会规则》）、《上市公司治理准则》（以下简称《治理准则》）和《上海 | | 证券交易所上市公司股东会网络投票实施细 ...

Market Overview - The cement sector experienced a slight decline of 0.12% on September 26, with Sanhe Pile leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Individual Stock Performance - Sanhe Pile (003037) closed at 7.91, down 4.47% with a trading volume of 168,100 shares and a turnover of 134 million yuan [2] - Qingsong Jianhua (600425) closed at 4.25, down 2.52% with a trading volume of 393,800 shares [2] - Sichuan Jinding (600678) closed at 9.23, down 2.22% with a trading volume of 105,800 shares [2] - Guotong Co. (002205) closed at 13.63, down 1.87% with a trading volume of 94,800 shares [2] - Tianshan Co. (000877) closed at 5.97, down 1.16% with a trading volume of 388,500 shares [2] - Other notable declines include Jianfeng Group (600668) down 1.02% and Xizang Dalu (600326) down 0.81% [2] Capital Flow Analysis - The cement sector saw a net outflow of 98.89 million yuan from institutional investors and 47.41 million yuan from retail investors, while individual investors contributed a net inflow of 146 million yuan [4] - Hainan Ruize (002596) had a net inflow of 47.06 million yuan from institutional investors, while experiencing a net outflow of 10.28 million yuan from retail investors [4] - Fujian Cement (600802) reported a net inflow of 11.08 million yuan from institutional investors, with a slight net outflow from retail investors [4] - Guotong Co. (002205) had a net inflow of 5.80 million yuan from institutional investors, while retail investors showed a net outflow [4]

Market Overview - The cement sector experienced a decline of 0.79% on September 25, with Sanhe Pile leading the drop [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Individual Stock Performance - Notable gainers included Guotong Co. (5.63% increase), Jianfeng Group (2.88% increase), and Fujian Cement (2.23% increase) [1] - Major decliners included Sanhe Pile (4.50% decrease), Shangfeng Cement (3.75% decrease), and Huaxin Cement (2.23% decrease) [2] Trading Volume and Value - Guotong Co. had a trading volume of 114,200 shares and a transaction value of 154 million yuan [1] - Sanhe Pile recorded a trading volume of 231,800 shares with a transaction value of 193 million yuan [2] Capital Flow Analysis - The cement sector saw a net outflow of 238 million yuan from institutional investors, while retail investors contributed a net inflow of 278 million yuan [2][3] - Key stocks with significant net inflows from retail investors included Fujian Cement and Sanhe Pile, while Guotong Co. and Jianfeng Group saw net outflows from institutional investors [3]

9月24日，西藏天路盘中下跌2.06%，截至10:41，报12.35元/股，成交3.68亿元，换手率2.21%，总市值 164.83亿元。 资金流向方面，主力资金净流出5875.93万元，特大单买入1494.34万元，占比4.06%，卖出2902.08万 元，占比7.89%；大单买入4664.29万元，占比12.68%，卖出9132.49万元，占比24.83%。 西藏天路今年以来股价涨91.18%，近5个交易日跌9.52%，近20日跌15.24%，近60日涨45.47%。 责任编辑：小浪快报 资料显示，西藏天路股份有限公司位于西藏拉萨市夺底路14号，成立日期1999年3月29日，上市日期 2001年1月16日，公司主营业务涉及工程承包,水泥及水泥制品生产销售,沥青及沥青制品生产销售,商品 贸易和矿产品加工与销售等。主营业务收入构成为：水泥销售53.20%，房建工程12.30%，公路工程 9.80%，沥青混凝土销售9.79%，商品混凝土销售7.78%，其他工程2.58%，市政道路2.49%，监理检测 0.74%，技术服务、运输及其他0.54%，骨料销售0.49%，其他(补充)0.29%，租赁收入0.00%。 西 ...

Core Viewpoint - Tibet Tianlu announced that its convertible bonds will cease trading on October 23, 2025, with the last trading day being October 22, 2025. Holders can still convert their bonds into common shares until October 27, 2025, under specified conditions [1]. Summary by Sections - Announcement of Trading Cessation: Tibet Tianlu's convertible bonds will stop trading on October 23, 2025, with the last trading day on October 22, 2025 [1]. - Conversion Period: After the cessation of trading, bondholders can convert their bonds into common stock from October 23 to October 27, 2025, according to the agreed terms [1].

西藏天路股份有限公司 关于"天路转债"到期兑付暨摘牌的 第三次提示性公告 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： 自 2025 年 10 月 23 日至 2025 年 10 月 27 日，天路转债持有人仍可以依 据约定的条件将天路转债转换为公司普通股。 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，公司 108,698.80 万元 可转债于 2019 年 11 月 28 日起在上海证券交易所挂牌交易，债券简称"天路转 债"，债券代码"110060"。 根据《上市公司证券发行注册管理办法》《上海证券交易所股票上市规则》 可转债到期日和兑付登记日：2025 年 1 ...

Core Viewpoint - Tibet Tianlu Co., Ltd. has announced the maturity and redemption of its "Tianlu Convertible Bonds" with a total issuance amount of 1.086988 billion yuan, set to mature on October 27, 2025 [1] Summary by Relevant Sections - **Bond Details** - The total issuance amount of "Tianlu Convertible Bonds" is 1.086988 billion yuan with a maturity period of 6 years [1] - The redemption date and payment registration date is October 27, 2025, with a principal and interest payment of 110 yuan per bond [1] - **Trading Information** - The last trading day for the bonds is October 22, 2025, and the last conversion day is October 27, 2025 [1] - Trading will cease from October 23, 2025, and the bonds will be delisted on October 28, 2025 [1] - Holders can still convert their bonds into shares from October 23 to October 27, 2025 [1] - **Payment Process** - The principal and interest payments will be transferred to the holders' accounts by the Shanghai branch of China Securities Depository and Clearing Corporation [1]

| 证券代码：600326 | 证券简称：西藏天路 | 公告编号：2025-064 号 | | --- | --- | --- | | 转债代码：110060 | 转债简称：天路转债 | | | 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"到期兑付暨摘牌的 第二次提示性公告 根据《募集说明书》的规定，在本次发行的可转债期满后五个交易日内，公 司将以本次发行的可转债的票面面值的 110%（含最后一期年度利息)的价格向投 资者赎回全部未转股的可转债。天路转债到期合计兑付人民币 110 元/张（含税)。 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： 自 2025 年 10 月 23 日至 2025 年 10 月 27 日，天路转债持有人仍可以依 据约定的条件将天路转债转换为公司普通股。 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 ...

Investment Rating - The report maintains a positive outlook on the construction materials industry, indicating a recovery in the consumption segment and a price increase cycle for fiberglass products [1][5][7]. Core Insights - The construction materials sector is showing signs of recovery, with the fundamentals entering a positive phase, particularly in real estate sales and construction starts [1][20][21]. - A price increase cycle for fiberglass products is anticipated, driven by supply-demand dynamics and market conditions [2][6][7]. - The cement industry is entering a peak season with price increases observed in various regions, supported by policy measures aimed at limiting overproduction [4][27][28]. Summary by Sections Construction Materials - The consumption construction materials sector is stabilizing, with expectations of improved revenue performance starting in Q3 2025 due to lower revenue baselines and reduced price competition [1][20][21]. - Companies like Hanhigh Group and Sankeshu are already showing growth, with expectations for Dongfang Yuhong to follow suit [1][15]. Fiberglass - The fiberglass market is experiencing a price increase cycle, with major companies discussing price hikes for various products, including low dielectric fabrics [2][6]. - The supply-demand balance is shifting positively, with larger manufacturers maintaining good inventory control while smaller producers are adjusting prices upward [6][7]. Cement - The cement market is witnessing a slight price increase, with specific regions like Jiangsu and Anhui implementing price hikes [4][27]. - The report highlights the potential for growth in the cement sector due to policy support and overseas expansion opportunities [27][28]. Investment Recommendations - Companies such as China Jushi, Zhongcai Technology, and Feilihua are highlighted for their strong market positions and growth potential in the fiberglass and construction materials sectors [10][12][18]. - Huaxin Cement is noted for its overseas expansion and profitability, particularly from its Nigerian operations, which are expected to contribute significantly to future earnings [31][33].