Core Viewpoint - The company has signed an agreement with Xinjiang Changji Rural Commercial Bank to provide a credit limit of RMB 50 million for cotton picker mortgage sales, indicating a strategic move to support its customers and manage financial risks [2][3]. Group 1: Guarantee and Credit Agreement - The company has provided a guarantee for the mortgage loans of cotton picker customers, with a total guarantee amount of RMB 34,139.44 million, which accounts for 38.07% of the company's latest audited net assets [2][10]. - The company has agreed to provide a maximum credit limit of RMB 50 million for new cotton picker mortgage sales, with a loan term not exceeding 36 months [3][4]. - The company will provide a cash collateral guarantee amounting to 8% of the total loan amount for the credit line [4]. Group 2: Loan Extension and Repayment - As of September 25, 2025, the company has provided guarantees for the extension of mortgage loans totaling RMB 6,030.44 million for 57 customers, with one customer having an outstanding loan balance of RMB 150.6 million [8]. - The company has undertaken to repay a total of RMB 959.10 million for five customers with non-performing loans, which includes principal and interest for overdue loans [9]. - The company has made provisions for expected liabilities amounting to RMB 2,605.83 million related to the mortgage loan guarantees, which will not significantly impact its current profit and loss [9]. Group 3: Future Measures and Risk Management - The company plans to adopt a "reduce new, lower existing" principle to manage the scale of mortgage guarantee business and will encourage customers to seek financing independently [9]. - The company will actively cooperate with the bank to enhance collection efforts and reduce the balance of existing mortgage guarantees [9]. - The company will continue to monitor the repayment status of customers with loans maturing in 2025 and will fulfill its information disclosure obligations based on subsequent developments [9].

证券代码：603029 证券简称：天鹅股份 公告编号：临 2025-027 山东天鹅棉业机械股份有限公司 关于为采棉机按揭销售业务提供担保的进展公告 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： 山东天鹅棉业机械股份有限公司（以下简称"公司"）与新疆昌吉农村 商业银行股份有限公司（以下简称"昌吉农商行"）签署协议，昌吉农商行为 公司新增采棉机按揭销售业务提供最高余额为人民币 5,000 万元授信额度。 截至 2025 年 9 月 25 日，公司为 2025 年已到期且符合银行资信条件的 采棉机按揭贷款的展期提供担保，展期金额 6,030.44 万元。 公司为部分用户代偿本金及利息合计 959.10 万元。公司已计提预计负 债 2,605.83 万元，本次代偿不会对公司当期损益产生重大影响。 截至本公告披露日，公司实际为采棉机客户按揭贷款提供的担保余额 34,139.44 万元，占公司最近一期经审计净资产的 38.07%。敬请广大投资者注意 投资风险。 公司第七届董事会第十一次会议、2025 年第一次临时股东大 ...

Report Summary Overall Information - The report is about a research on Tian'e Co., Ltd. in the special equipment industry on September 12, 2025 [1][2][17] Core Views - Tian'e Co., Ltd. adheres to innovation - driven development, focuses on the cotton machinery main business, and plans to expand the high - end intelligent agricultural machinery equipment industry [24][25] - The company has leading technology, a complete product series, and high market share in relevant fields, and will enhance competitiveness through innovation and market expansion [27] Grouped Key Points 1. Research Basic Situation - The research object is Tian'e Co., Ltd., belonging to the special equipment industry. The reception time is September 12, 2025, and the reception staff includes the chairman, general manager, independent director, board secretary, and financial director [17] 2. Detailed Research Institutions - The reception objects include investors and others [20] 3. Main Content - **R & D Input and Achievements**: In the first half of the year, the company's R & D investment was 1.76451 million yuan. It carried out performance iteration of old products and R & D of new products. It obtained 27 new authorized national patents (6 invention patents), 3 new software copyrights, and successfully issued 2 national standards and 3 industry standards [24] - **Development Strategy**: The company adheres to the cotton machinery main business, expands around the cotton industry chain, and aims to build the world's first brand of cotton machinery equipment. It also expands the high - end intelligent agricultural machinery equipment industry and creates a new development pattern of "one body, two engines, and three wings" [25] - **Industry Position and Competitiveness**: The company has leading technology, a complete product series covering the entire cotton processing process. Its cotton processing machinery products have a leading market share, and its cotton picker market share is among the top in the industry. It will focus on the main business, increase innovation investment, and expand domestic and international markets to enhance competitiveness [27] - **Dividend Policy**: The company adheres to a long - term and stable dividend policy. In June 2025, it implemented the 2024 annual equity distribution, distributing a total cash dividend of 2.08708 million yuan. There is no profit distribution plan in the first half of 2025 [27] - **Market Value Management**: The company attaches great importance to market value management, aiming to improve operating performance, perfect the shareholder return mechanism, and convey investment value [27]

Group 1 - The supply and marketing cooperative concept index rose by 1.22%, ranking 10th among concept sectors, with 12 stocks increasing in value, led by Gongxiao Daji, Tian'e Co., and Zhejiang Agricultural Shares, which rose by 7.78%, 3.74%, and 2.80% respectively [1] - The top three stocks with the largest net inflow of main funds in the supply and marketing cooperative sector were Gongxiao Daji, Yaqi International, and Huilong Shares, with net inflows of 321 million, 18.39 million, and 3.93 million respectively [1] - The supply and marketing cooperative sector saw a net inflow of 281 million in main funds today, indicating strong investor interest [1] Group 2 - The main fund inflow ratios for Gongxiao Daji, Huilong Shares, and Yaqi International were 5.35%, 4.90%, and 4.86% respectively, indicating significant investor confidence in these stocks [2] - The trading volume and turnover rates for the top stocks in the supply and marketing cooperative sector showed active trading, with Gongxiao Daji having a turnover rate of 14.99% [2] - Stocks such as Zhejiang Agricultural Shares and Huangshan Guojie experienced declines of 2.80% and 2.11% respectively, highlighting some volatility within the sector [3]

Core Viewpoint - The company, Swan Co., announced that it will hold a semi-annual performance briefing on September 12, 2025, from 13:00 to 14:45 [1] Group 1 - The performance briefing is scheduled for September 12, 2025 [1] - The timing of the briefing is set for 13:00 to 14:45 [1]

证券代码：603029 证券简称：天鹅股份 公告编号：临 2025-026 山东天鹅棉业机械股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 会议召开时间：2025 年 9 月 12 日（星期五） 下午 13:00-14:45 （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心视频录播和网络互动 三、参加人员 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频录播和网络互动 投资者可于 2025 年 9 月 5 日（星期五）至 9 月 11 日（星期四）16:00 前 登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 swan@sdmj.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 山东天鹅棉业机械股份有限 ...

Meeting Overview - The shareholders' meeting of Shandong Swan Cotton Machinery Co., Ltd. was held on September 1, 2025, at the company's conference room in Jinan [1] - The meeting was chaired by the company's chairman, Wang Xinting, and utilized a combination of on-site and online voting methods, complying with the Company Law and the company's articles of association [1] Voting Results - The non-cumulative voting proposal was approved with 99.8681% of A-shareholders voting in favor, totaling 71,191,536 votes [1] - The meeting confirmed that there were no dissenting votes or abstentions from the significant shareholders [1] Legal Compliance - The lawyers present at the meeting, Cheng Mingming and Zhang Xiaowu, confirmed that the meeting's procedures were in accordance with legal regulations and the company's articles of association, validating the qualifications of the conveners and attendees [3]

Core Viewpoint - The legal opinion letter confirms the legality and validity of the procedures, qualifications, and voting results of the 2025 first extraordinary general meeting of Shandong Swan Cotton Machinery Co., Ltd. [1][5] Meeting Procedures - The meeting was convened by the company's board of directors and publicly announced on August 16, 2025, detailing the time, location, and agenda [2][3] - The meeting was held on September 1, 2025, combining on-site and online voting methods, with specific time slots for online voting [3][4] Qualifications of Participants - The meeting was attended by 109 shareholders (or their agents), representing 71,285,496 shares, which is 58.7475% of the total voting shares [4] - The qualifications of the attendees, including directors, supervisors, and legal representatives, were verified and deemed valid [4] Voting Procedures and Results - All agenda items listed in the meeting notice were reviewed and voted on, with the proposal to provide guarantees for cotton picker customers passing with significant support [5] - The voting results showed that 71,191,536 shares approved the proposal, while 90,060 shares opposed it, and 3,900 shares abstained [5] Conclusion - The legal opinion concludes that the meeting's procedures, participant qualifications, and voting results comply with relevant laws and regulations, confirming their legality and validity [5]

Core Viewpoint - The company announced the holding of its first extraordinary general meeting of shareholders in 2025 on September 1, 2025, to review and approve a proposal to provide guarantees for cotton picker customers [2] Group 1 - The extraordinary general meeting will take place on September 1, 2025 [2] - The agenda includes the proposal for the company to provide guarantees for its cotton picker customers [2]

证券代码：603029 证券简称：天鹅股份 公告编号：临 2025-025 山东天鹅棉业机械股份有限公司 2025年第一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 (一)股东大会召开的时间：2025 年 9 月 1 日 (二)股东大会召开的地点：济南市天桥区大魏庄东路 99 号公司三楼会议室 (五)公司董事、监事和董事会秘书的出席情况 1、公司在任董事7人，出席7人； 2、公司在任监事3人，出席2人，监事陈燕女士因工作原因未出席会议； 3、董事会秘书吴维众先生出席会议；财务总监王翠女士列席了会议。 (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 | 109 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 71,285,496 | | 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 | 58.7475 | | 份总数的比例（%） ...