| 证券代码：600326 | 证券简称：西藏天路 | 公告编号：2025-061 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 关于召开2025年第三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： 一、 召开会议的基本情况 (一)股东大会类型和届次 2025年第三次临时股东大会 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 26 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9月26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 (二)股东大会召集人：董事会 (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 (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 ...

| 证券代码：600326 | 证券简称：西藏天路 | | 公告编号：2025-060 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 第七届董事会第十八次会议决议公告 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"）第七届董事会第十八次会议于 2025 年 9 月 10 日（星期三）以通讯方式召开。通知以书面方式于会议召开五日 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 7 人，实际 出席董事 7 人。会议召开及表决程序符合《中华人民共和国公司法》《西藏天路 股份有限公司章程》及《西藏天路股份有限公司董事会议事规则》的规定。经与 会董事以通讯方式表决，一致审议通过了《关于增补董事候选人的议案》，表决 结果：7 票同意、0 票反对、0 票弃权，并形成决议如下： 本议案经由提名委员会审议通过，并同意提交董 ...

Core Viewpoint - The company is implementing a buyback and cancellation of restricted stock due to unmet performance targets in its 2022 incentive plan and changes in the eligibility of one of the incentive recipients [1][3][4]. Summary by Sections Decision and Disclosure of Stock Buyback - The decision for the buyback and cancellation of restricted stock was made in accordance with the "Management Measures for Stock Incentives of Listed Companies" and the company's 2022 stock incentive plan [1]. - The board approved the buyback of a total of 850,897 shares of restricted stock, including 10,542 shares for one individual who no longer qualifies as an incentive recipient [1][3]. Reasons and Basis for Buyback - The buyback is based on the failure to meet the performance assessment targets for the third unlock period of the stock incentive plan, which required a revenue growth rate of at least 45% compared to the average revenue from 2018 to 2020 [2][4]. - The company's 2024 revenue was reported at 313,819.59 million, with a net profit attributable to shareholders of -10,428.22 million, resulting in a revenue growth rate of -46.85%, which did not meet the required targets [3][4]. Buyback Quantity - The total number of restricted stocks to be repurchased is 850,897, which represents 0.06% of the company's total share capital of 1,335,503,684 shares as of August 29, 2025 [4][5]. Buyback Arrangement - The company has opened a dedicated securities account for the buyback and submitted the application for cancellation, expected to be completed by September 4, 2025 [5]. - Following the cancellation, the share structure will change, with all restricted shares being eliminated, resulting in 100% of shares being unrestricted [5]. Legal Compliance and Commitments - The board confirmed that the decision-making process and disclosures comply with relevant laws and regulations, ensuring no harm to the rights of incentive recipients or creditors [6]. - The company has verified the accuracy of the information regarding the buyback and has committed to handling any disputes arising from this matter [6].

Core Points - The company, Tibet Tianlu, announced that its 2024 performance did not meet the performance assessment targets set in the 2022 Restricted Stock Incentive Plan [2] - As a result, the company will repurchase and cancel 850,897 shares of restricted stock that have been granted but not yet released from restrictions [2] - One individual among the recipients of the stock incentive plan no longer qualifies due to a job adjustment [2] Summary by Categories - **Performance Assessment** - Tibet Tianlu's 2024 performance failed to meet the targets outlined in the 2022 Restricted Stock Incentive Plan [2] - **Stock Repurchase and Cancellation** - The company will repurchase and cancel a total of 850,897 shares of restricted stock due to the unmet performance targets and the disqualification of one recipient [2] - **Disqualification of Incentive Recipient** - One individual who was granted restricted stock no longer meets the criteria for incentive eligibility due to a job change [2]

| 证券代码：600326 | 证券简称：西藏天路 | | 公告编号：2025-059 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 关于股权激励限制性股票回购注销实施的公告 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： 回购注销原因：西藏天路股份有限公司（以下简称"公司"）2024 年度业绩未 能达到《西藏天路股份有限公司 2022 年限制性股票激励计划（草案）》第三个 解除限售期业绩考核目标及公司2022年限制性股票计划授予对象中有1人因工 作调整，不再符合激励对象资格，公司对前述已获授但未解除限售的 850,897 股限制性股票予以回购注销。 本次注销股份的有关情况 | 回购股份数量 | 注销股份数量 | 注销日期 | | --- | --- | --- | | 850,897股 | 850,897股 | 2025年9月4日 | 一、 ...

Investment Rating - Industry Rating: Outperform the market (maintained rating) [5] Core Viewpoints - The cement and fiberglass sectors showed significant improvement in Q2 year-on-year, with cement prices experiencing a sequential decline but profitability still increasing year-on-year. Fiberglass benefited from rising prices of thermoplastics and wind power yarn, leading to a continued increase in gross margins. The product structure advantages of leading companies are becoming more evident, with specialty fiber cloth contributing to profit growth [2][11] - The demand for consumer building materials is negatively impacted by the decline in new construction and completion in the real estate sector, resulting in a year-on-year revenue decrease. However, the revenue decline for waterproofing and board materials in Q2 narrowed compared to Q1. The glass demand remains weak, with prices and gross margins continuing to decline in Q2, leading to an average gross loss across the industry. As loss pressures increase, the pace of industry cold repairs may accelerate, with potential for price improvements in the short term [2][11] - The report continues to recommend traditional building materials with improving fundamentals, such as cement and coatings, as well as high-end electronic fabrics and overseas markets with high demand growth [2][20] Summary by Sections Market Review - During the week of August 25-29, 2025, the Shanghai and Shenzhen 300 index rose by 2.71%, while the building materials sector (CITIC) increased by 0.53%, with the fiberglass sector performing particularly well. Notable individual stock performances included China Jushi (+15.3%), Dongpeng Holdings (+13.6%), and King Kong Photovoltaic (+12.5%) [1][11] Electronic Fabric Sector - China National Materials Technology announced plans to invest 1.80624 billion yuan in a project to produce 35 million meters of low-dielectric fiber cloth in Jining, Shandong, and 1.75089 billion yuan for a project to produce 24 million meters of ultra-low-loss low-dielectric fiber cloth in Tai'an, Shandong. These projects will add a total of 59 million meters of production capacity, with a construction period of 18 months [3][17] Recommended Stocks - The report highlights a focus on the following stocks: Honghe Technology, China National Materials Technology, Qingsong Construction, Tibet Tianlu, Huaxin Cement, and Sankeshu [4][20]

Core Points - The company held its 17th meeting of the 7th Board of Directors, where several key resolutions were passed regarding management changes and governance structure [1][2][3] Group 1: Management Changes - The company accepted the resignation of Vice Chairman and General Manager Zhao Yunde due to work relocation after his aid period in Tibet [2] - Meng Gang was nominated and appointed as the new General Manager, with a term aligned with the current Board of Directors [2][3] - The company also appointed Du Xiaoming as Vice General Manager and Wang Guojin as Chief Accountant, following the resignation of Zhang Hui and You Zhangxiu due to work relocation [3] Group 2: Governance Structure - The Board approved the proposal to add a new director candidate, Meng Gang, recommended by the controlling shareholder, Tibet Construction and Building Materials Group Co., Ltd [2] - The Board's decisions regarding management appointments were reviewed and approved by the Nomination Committee and Audit Committee [3] Group 3: Related Party Transactions - The company approved the proposal for new expected daily related party transactions for 2025, which will involve the controlling shareholder and its subsidiaries [4] Group 4: Shareholder Meeting - The company plans to hold the third extraordinary general meeting of shareholders in 2025, with details on the time and agenda to be announced later [5]

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。 | 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：2025-058 号 | 西藏天路股份有限公司 关于新增 2025 年度日常关联交易预计的公告 重要内容提示： 一、日常关联交易基本情况 （一）2025 年度预计日常关联交易概述 公司第七届董事会第八次会议、第七届监事会第三次会议、独立董事专门会 议 2025 年第一次会议审议通过了《关于 2025 年度日常关联交易预计的议案》， 同意公司及控股子公司与关联方 2025 年度预计发生关联交易金额不超过人民币 8,489.56 万元。其中销售商品构成的日常关联交易 5,880.00 万元；采购商品构 成的关联交易 65.00 万元；接受劳务构成的关联交易 1,574.80 万元；提供劳务 1 西藏天路股份有限公司（以下简称"公司"）第七届董事会第十 ...

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"）于 2025 年 8 月 29 日召开第七 届董事会第十七次会议，审议通过了《关于董事长提名聘任总经理的议案》《关 于由总经理提名，董事会聘任副总经理、总会计师的议案》，现将有关事项公告 如下： 经公司第七届董事会提名委员会 2025 年第一次会议、第七届董事会第十七 次会议审议通过，同意聘任孟刚先生（简历附后）为公司总经理，同意聘任杜晓 明先生（简历附后）为公司副总经理，任期自公司董事会审议通过之日起至第七 届董事会任期届满之日止。 经公司第七届董事会审计委员会 2025 年第三次会议、第七届董事会提名委 员会 2025 年第一次会议、第七届董事会第十七次会议审议通过，同意聘任王国 金先生（简历附后）为公司总会计师，任期自公司董事会审议通过之日起至第七 届董事会任期届满之日止。 | 证券代码：600326 | | 证券简称：西藏天路 | | 公告编号：2025-057 号 | | --- | --- | --- | --- | --- | ...

| 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：2025-055 号 | 西藏天路股份有限公司 关于公司董事、高级管理人员离任的公告 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。 西藏天路股份有限公司（以下简称"公司"）近期收到公司副董事长、总经 理、董事、审计委员会委员、战略委员会委员赵云德先生,副总经理张辉先生, 财务负责人游章秀女士的书面辞职报告。因援藏期满，赵云德先生辞去公司副董 事长、总经理、董事、审计委员会委员、战略委员会委员职务，张辉先生辞去公 司副总经理职务，辞职后不再担任公司及子公司任何职务。因正常工作调整，游 章秀女士辞去公司财务负责人职务。 一、董事、高级管理人员离任情况 | 姓名 | | 离任职务 | 离任时 | 原定任 期到期 | | 离任原因 | 是否继续在 上市公司及 | 具体职务 | 是否存在 未履行完 ...