证券代码：603136 证券简称：天目湖 公告编号：2025-028 江苏天目湖旅游股份有限公司 关于完成工商变更登记的公告 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 担个别及连带责任。 江苏天目湖旅游股份有限公司（以下简称"公司"）分别于 2025 年 4 月 18 日、5 月 16 日召开第六届董事会第十二次会议、2024 年年度股东大会，审议通 过了关于修订《公司章程》等相关议案。具体内容详见公司 2024 年 4 月 21 日在 上海证券交易所网站（www.sse.com.cn）及指定媒体披露的《江苏天目湖旅游股 份有限公司关于修订公司章程及其附件的公告》（公告编号：2025-017）。 近日，公司完成了章程修订、注册资本变动及董监高人员变化等事项的工商 变更登记及备案手续，并取得了常州市行政审批局换发的《营业执照》，相关登 记信息如下： 注册资本：27012.671 万元整； 成立日期：1992 年 9 月 15 日； 经营范围： 许可项目：高危险性体育运动（游泳）；餐饮服务；旅游业务；茶叶制品生 产；食品销售；烟草制品零 ...

Investment Rating - The report rates the social services industry as "Overweight" indicating a positive outlook for the sector [4]. Core Insights - The report highlights the resurgence of instant film photography, particularly the popularity of "Peel Apart" film and the new "Life Four Frames" photo booths, driven by nostalgia and unique consumer experiences [5][11]. - The scarcity of Peel Apart film, with global inventory dropping below 500,000 boxes, has led to a dramatic price increase, with prices soaring from around 65-70 RMB per pack to 2800-3300 RMB on second-hand platforms, earning it the nickname "Paper Moutai" [9][11]. - The "Life Four Frames" photo booths have modernized the traditional photo booth experience, offering various backgrounds and instant photo printing, appealing to younger consumers [11][12]. Summary by Sections 1. New Trends in Photography - Peel Apart film has gained immense popularity due to its unique aesthetic and the limited availability of products from major manufacturers like Polaroid and Fujifilm, which have ceased production [8][9]. - The "Life Four Frames" photo booths have evolved from traditional photo booths, providing a more interactive and customizable experience for users [11]. 2. Market Performance Review - The social services sector saw a 2.09% increase in its index from June 2 to June 6, outperforming the broader market [13]. - Key stocks in the social services sector, such as ST United and Jinling Hotel, experienced significant gains, with increases of 21.46% and 11.87% respectively [18]. 3. Company Announcements - Companies in the retail and social services sectors are actively engaging in stock buybacks and shareholder reduction plans, indicating a focus on enhancing shareholder value [26][27]. 4. Industry Developments - The report notes significant developments in the social services industry, including record passenger numbers during the Dragon Boat Festival, showcasing a recovery in travel and tourism [30]. - The introduction of new technologies and partnerships, such as the investment in Acai Travel by Amadeus, reflects ongoing innovation within the industry [30]. 5. Valuation of Key Companies - The report provides a detailed valuation of key companies in the human resources, tourism, and hotel sectors, indicating a favorable outlook for these industries as they recover from previous downturns [32][33].

Core Points - Tianmu Lake (603136) closed at 12.6 yuan on June 6, 2025, up 10.53% from the previous week [1] - The company's total market capitalization is 3.404 billion yuan, ranking 16th out of 22 in the tourism and scenic area sector and 3929th out of 5148 in the A-share market [1] Company Announcements - The company approved the use of up to 210 million yuan of idle raised funds for cash management on January 10, 2025, and later increased this amount to a total of 300 million yuan [1] - On June 3, 2025, the company subscribed to two structured deposits with Industrial Bank Co., Ltd., totaling 90 million yuan, with terms of 26 days and 208 days [1] - The funds for cash management come from the net proceeds of 289.731 million yuan from a public convertible bond issuance, primarily for the "Nanshan Xiaozhai Phase II Project" and "Yushui Hot Spring (Phase I) Renovation Project" [1] - As of March 31, 2025, the company's total assets were 1.776 billion yuan, with cash and cash equivalents of 525.464 million yuan, making the cash management amount 17.13% of the latest cash balance [1]

Core Viewpoint - The "Su Chao" event has significantly boosted the stock prices of related companies, despite these companies not providing sponsorship or establishing direct cooperation with the event [1] Group 1: Impact on Companies - Companies such as Jinling Sports, Gongchuang Turf, and Kangliyuan have seen substantial stock price increases due to the "Su Chao" concept [1] - These companies have expressed interest in potential collaborations with "Su Chao" despite not currently being sponsors or partners [1] Group 2: Sponsorship Insights - Jinsiyuan, one of the main sponsors of "Su Chao," noted that their sponsorship was a routine arrangement that unexpectedly generated significant traffic, and they are exploring opportunities to convert this traffic into value [1] - Tianmuhu, involved in the cultural tourism industry, reported that "Su Chao" has a noticeable positive impact on consumer spending among tourists [1]

证券代码：603136 证券简称：天目湖 公告编号：2025-027 江苏天目湖旅游股份有限公司 关于使用部分闲置募集资金进行现金管理的公告 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 担个别及连带责任。 一、本次现金管理概述 （一）现金管理目的 为提高资金使用效率，在确保不影响募集资金投资计划的前提下，合理利用 暂时闲置募集资金进行现金管理，增加资金收益。 （二）资金来源 重要内容提示： 履行的审议程序：江苏天目湖旅游股份有限公司(以下简称"公司") 于 2025 年 1 月 10 日，分别召开了第六届董事会第十一次会议、第六届监事会第 九次会议，审议通过《关于使用闲置募集资金进行现金管理的议案》，同意在确 保募集资金投资项目正常进行和保证募集资金安全的前提下，使用本金总金额不 超过 21,000.00 万元闲置募集资金进行现金管理，使用期限不超过 12 个月，在 上述额度及决议有效期内，可以循环滚动使用。闲置募集资金现金管理到期后归 还至募集资金专户。 公司于 2025 年 5 月 15 日、2025 年 5 月 20 日，分别召 ...

Market Overview - As of 10:30 AM today, the Shanghai Composite Index stands at 3352.43 points, above the six-month moving average, with a change of 0.15% [1] - The total trading volume of A-shares today is 568.946 billion yuan [1] Stocks Performance - A total of 138 A-shares have surpassed the six-month moving average today, with notable stocks showing significant deviation rates [1] - The stocks with the highest deviation rates include: - Dahongli (300865) with a deviation rate of 17.40%, closing at 27.74 yuan, up 19.98% [1] - Huaxi Biological (688363) with a deviation rate of 6.97%, closing at 54.41 yuan, up 7.87% [1] - *ST Chengchang (001270) with a deviation rate of 5.20%, closing at 36.55 yuan, up 5.00% [1] Additional Stocks with Notable Performance - Other stocks with significant performance include: - Zhejiang Shuwenhua (600633) with a deviation rate of 5.17%, closing at 13.62 yuan, up 5.66% [1] - Gehua Cable (600037) with a deviation rate of 4.76%, closing at 7.73 yuan, up 6.47% [1] - Stocks with smaller deviation rates that have just crossed the six-month line include Aotai Biological, Chitianhua, and Emei Mountain A [1]

证券代码：603136 证券简称：天目湖 公告编号：2025-026 一、开立募集资金现金管理产品专用结算账户的情况 2025 年 5 月 28 日，公司控股子公司溧阳市天目湖南山竹海旅游有限公司（以 下简称"竹海公司"）在兴业银行股份有限公司溧阳支行开立了募集资金现金管 理产品专用结算账户，具体账户信息如下： | 开户行 | 账户名称 | 账号 | | --- | --- | --- | | 兴业银行股份有限公司 | 溧阳市天目湖南山竹海 | 406030100100174664 | | 溧阳支行 | 旅游有限公司 | | 根据《上市公司监管指引第 2 号—上市公司募集资金管理和使用的监管要求》 《上海证券交易所上市公司自律监管指引第 1 号—规范运作》等相关规定，上述 账户将专用于暂时闲置募集资金现金管理的结算，不会用于存放非募集资金或用 作其他用途，公司将在产品到期且无下一步购买计划时及时注销上述账户。 二、风险控制措施 江苏天目湖旅游股份有限公司 关于开立募集资金现金管理产品专用结算账户的公告 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 ...

Group 1 - Company Sun Energy plans to repurchase shares worth between 100 million to 200 million yuan for cancellation, with a maximum repurchase price of 6.69 yuan per share [1] - Company Runyang Technology intends to invest up to 300 million yuan in Shanghai Fourier Intelligent Technology Co., with a pre-investment valuation of 8 billion yuan [1] - Company Heng Rui Medicine's subsidiary has received approval for clinical trials of SHR-4712 injection for treating advanced solid tumors [2] Group 2 - Company Lianhuan Pharmaceutical plans to increase capital by 60 million yuan for its wholly-owned subsidiary [2] - Company Hongchang Electronics' subsidiary plans to increase capital by 10 million USD for its other subsidiary [2] - Company Sichuan Meifeng intends to repurchase shares worth between 50 million to 70 million yuan for cancellation, with a maximum repurchase price of 10.07 yuan per share [2] Group 3 - Company Lian Micro plans to liquidate and deregister Jiaxing Kangjing Semiconductor Industry Investment Partnership [4] - Company Jiutian Pharmaceutical has received approval for clinical trials of PDX-04 drug for treating acute gout attacks [5] - Company Pingzhi Information has signed a framework agreement with China Telecom for a GPU computing power project worth approximately 246 million yuan [7] Group 4 - Company Jiu Zhi Tang's subsidiary has initiated Phase II clinical trials for new drug YB211 aimed at treating acute bacterial skin infections [8] - Company Fosun Pharma's subsidiary has received orphan drug designation for HLX22 for gastric cancer treatment in the EU [9] - Company Jianyou Co. plans to repurchase shares worth between 20 million to 40 million yuan for employee stock ownership plans [11] Group 5 - Company Zhi Zheng Co. announced the resignation of its vice president due to personal reasons [13] - Company He Mai Co. signed a cooperation agreement for household photovoltaic systems worth 1 billion yuan [14] - Company Jinan Intelligent's subsidiary won a project bid for electric vehicle charging stations, expected to positively impact performance [16] Group 6 - Company Gaotie Electric plans to distribute a cash dividend of 0.012 yuan per share [18] - Company Guyue Longshan plans to distribute a cash dividend of 0.08 yuan per share [18] - Company Yongmaotai's shareholders plan to reduce their holdings by up to 2.66% of the company's shares [19] Group 7 - Company Tian Cheng Technology's subsidiary received a land idle fee notice for 2.1658 million yuan due to project delays [20] - Company Guangri Co. appointed a new vice president and board secretary to enhance governance [21] - Company Design General Institute won multiple major projects totaling approximately 390 million yuan [22] Group 8 - Company Fuxie Environmental signed a significant contract worth 244 million yuan for a sewage treatment project [23] - Company Lujiazui announced the resignation of its vice chairman due to job transfer [24] - Company Three Squirrels' H-share issuance application has been accepted by the CSRC [24] Group 9 - Company Kanghong Pharmaceutical's subsidiary received approval for clinical trials of KH617 for glioblastoma treatment [25] - Company Xin Zhu Co. announced a suspension of trading to plan an asset acquisition from its controlling shareholder [26] - Company Jianxin Co. announced plans for share reductions by several directors and senior management [28]

Core Viewpoint - The company Tianmu Lake (603136.SH) has reported a continuous decline in revenue for five consecutive quarters, with a significant drop in both revenue and net profit for 2024, indicating a challenging development situation amidst a recovering domestic tourism market [1][2][3]. Group 1: Core Scenic Area Business - The core scenic area business, which accounts for over 50% of the company's revenue, experienced a significant decline, with revenue for 2024 reaching 282.4 million yuan, down 13.03% year-on-year, and main profit dropping by 32.5% [2][3][4]. - The main profit margin for the scenic area business decreased to 70.43%, a reduction of 0.81 percentage points compared to the previous year [2][3]. - The two major 5A scenic areas, Shanshui Garden and Nanshan Bamboo Sea, both saw declines in revenue and main profit for 2024, with Shanshui Garden's revenue down 17.47% and Nanshan Bamboo Sea's down 7.58% [4][5]. Group 2: Hotel Business - The hotel business, which contributes nearly 30% to the company's revenue, also faced a sharp decline, with 2024 revenue falling to 159.4 million yuan, a decrease of 23.1%, and main profit down 27.86% [6][7]. - The gross profit margin for the hotel business dropped significantly from 29.88% to 21.4%, indicating substantial operational pressure [6][7]. - The performance of the hot spring and water world businesses, aimed at boosting off-peak season revenue, also saw significant declines, with the water world business revenue plummeting by 41.28% [7]. Group 3: Fundraising Projects - The company has two fundraising projects initiated in 2020 that have faced multiple delays, with the expected completion dates pushed back to December 2025 [8][10]. - The South Mountain Xiaozhai project and the Yushui Hot Spring renovation project have seen minimal progress, with only 8.14% of the projects completed as of the latest updates [10]. - The prolonged delays and changing market conditions raise uncertainties about the future performance of these projects, which were intended to enhance the company's competitiveness and profitability [10].

Core Points - The company announced a cash dividend of 0.235 CNY per share for its A shares [1][2] - The dividend distribution plan was approved at the annual general meeting on May 16, 2025 [1] - The record date for shareholders is May 29, 2025, with the last trading day and ex-dividend date both on May 30, 2025 [1] Dividend Distribution Details - The total share capital before the distribution is 270,126,710 shares, and the cash dividend will be distributed based on this number [1] - For individual shareholders holding unrestricted A shares, dividends will be exempt from personal income tax if held for over one year; otherwise, tax will not be withheld for shares held within one year [2][3] - The actual cash dividend after tax for shareholders holding restricted A shares will be 0.2115 CNY per share due to a 10% withholding tax [3][4] Taxation Information - For qualified foreign institutional investors (QFII), a 10% withholding tax will also apply, resulting in a net cash dividend of 0.2115 CNY per share [4][5] - Shareholders classified as resident enterprises will be responsible for their own tax payments, with a gross cash dividend of 0.235 CNY per share [5] Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the company's board office at 0519-87985901 [5]