| 证券代码：603608 | 证券简称：天创时尚 | 公告编号：临 2025-052 | | --- | --- | --- | | 债券代码：113589 | 债券简称：天创转债 | | 天创时尚股份有限公司 担保对象及基本情况 | | 被担保人名称 | "天创智造"） | | 广州天创智造科技有限公司（以下简称 | | --- | --- | --- | --- | --- | | | 本次担保金额 | 人民币 | 1,300 万元 | | | 担保对象 | 实际为其提供的担保余额 | 人民币 | 万元 5,000 | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股子公 司对外担保总额（万元） | 5,000 | | 对外担保总额占上市公司最近一期经 | 4.80 | | 审计净资产的比例（%） | | | 特别风险提示（如有请勾选） | □对外担保总 ...

| 证券代码：603608 | 证券简称：天创时尚 | 公告编号：临 2025-053 | | --- | --- | --- | | 债券代码：113589 | 债券简称：天创转债 | | 天创时尚股份有限公司 关于可转债转股结果暨股份变动公告 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。 重要内容提示： 本季度转股情况："天创转债"自 2025 年 4 月 1 日至 2025 年 6 月 30 日期间，累计转股金额为 1,000 元，因转股形成的股份数量为 81 股，全部使用 新增股份作为转股来源。 累计转股情况：截至 2025 年 6 月 30 日，累计共有 619,000 元"天创转 债"转换为公司股票，累计转股数量为 50,080 股（其中 2,026 股为库存股，其余 均为新增股份），占可转债转股前公司已发行股份总额（即 2021 年 1 月 3 日总 股本 428,895,467 股）的 0.011677%。 未转股可转债情况：尚未转股的可转债金额为 66,606,000 元，占可转债 发行总量的 11. ...

| 证券代码：603608 | 证券简称：天创时尚 | 2025-051 | 公告编号：临 | | --- | --- | --- | --- | | 债券代码：113589 | 债券简称：天创转债 | | | 天创时尚股份有限公司 关于使用部分闲置自有资金委托理财的进展公告 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个别及连带责任。 一、本次委托理财概述 （一）委托理财的目的 在保证公司正常经营所需的流动性资金的情况下，提高闲置自有资金使用效 率，降低财务成本。 （二）投资金额 公司本次投资委托理财产品的本金为 11,000 万元人民币。 重要内容提示： 投资种类：安全性高、流动性好的低风险型理财产品。 投资金额：本次委托理财的本金为 11,000 万元人民币，截至本公告披露 日，尚未收回的本金余额为 21,890 万元人民币（含本次委托理财）。 已履行的审议程序：经公司第五届董事会第十次会议、第五届监事会第 九次会议审议通过《关于 2025 年度使用部分闲置自有资金进行委托理财的议案》， 同意公司及子公司使用最高额度不超过人民币 ...

Core Viewpoint - Tianchuang Fashion's financial performance is declining, with a significant drop in revenue and an increase in net loss, indicating operational challenges ahead [1][4]. Company Announcements Summary - Tianchuang Fashion reported a 13.74% year-on-year decline in revenue for 2024, amounting to 1.099 billion yuan, and a net loss of 91 million yuan [1][4]. - The company closed 224 stores in 2024, resulting in a reduction of 448 employees [1][4]. - As of the end of 2024, the company's inventory balance was 254 million yuan, reflecting a decrease of 54 million yuan year-on-year [1][4]. - The company increased short-term debt due to new borrowings to repay the current bonds, leading to a rise in short-term liabilities [1][4]. Credit Rating Summary - Tianchuang Fashion's credit rating and the Tianchuang convertible bond rating are both maintained at "A-", with a negative outlook [2][4]. - The company will pay interest on the convertible bonds at a rate of 1.80% on June 24, 2025, with the actual distribution amounting to 1.44 yuan after tax for individual investors [2][4].

Core Viewpoint - The credit rating of Tianchuang Fashion Co., Ltd. remains at A- with a negative outlook due to declining sales, increasing losses, and high inventory pressure in the competitive women's footwear market [2][4][5]. Company Overview - Tianchuang Fashion has over 20 years of experience in the women's footwear industry, with a focus on self-owned brands that maintain a certain level of recognition in the mid-range market [2][4]. - The company has expanded its product line to include sports footwear, increasing the sales proportion of this category from 5.9% in 2023 to 16% in 2024 [2][19]. Financial Performance - In 2024, the company's operating income decreased by 13.74% year-on-year, with a net loss of 0.91 billion yuan [5][15]. - The total assets as of March 2025 were 16.34 billion yuan, with total liabilities of 3.66 billion yuan [2][3]. - The company's cash flow from operating activities was 0.32 billion yuan, indicating a decline in cash generation ability [3][5]. Market Environment - The domestic women's footwear market is highly competitive, with sales continuing to decline, although at a slower rate. The total sales for women's footwear in 2024 were 263.67 billion yuan, down 1.27% year-on-year [11][12]. - The industry faces significant pressure from high inventory levels and reduced consumer demand, leading to a challenging operating environment [11][12][14]. Inventory and Sales Pressure - The proportion of inventory to total assets was 14.63% in 2024, indicating a high level of inventory pressure that consumes working capital [5][20]. - The company closed 224 stores in 2024, resulting in a total of 944 stores as of March 2025, reflecting a strategy to streamline operations [16][17]. Competitive Position - The company competes with both domestic and international brands in the women's footwear market, where brand recognition, quality, and pricing are critical factors for success [14][12]. - The sales contribution from major brands like KISSCAT and TIGRISSO remains significant, with stable gross margins despite overall sales declines [19][15].

Group 1 - The core viewpoint of the announcement is that Tianchuang Fashion Co., Ltd. has maintained its credit ratings for both its corporate and convertible bonds at "A-" with a negative outlook [1][2] - The previous credit rating for the corporate entity and the Tianchuang convertible bond was also "A-" with a negative outlook, indicating stability in the ratings despite the negative outlook [1][2] - The credit rating was conducted by Zhongzheng Pengyuan Credit Rating Co., Ltd., which performed a comprehensive analysis of the company's operational status and industry conditions [2] Group 2 - The tracking credit rating report was issued on June 12, 2025, and is referenced as the 2025 tracking rating report for the 2020 Tianchuang Fashion Co., Ltd. public issuance of convertible bonds [2] - The report is available for public access on the Shanghai Stock Exchange website [2]

Summary of Key Points Core Viewpoint - The announcement details the upcoming interest payment schedule and terms for the convertible bonds issued by Tianchuang Fashion Co., Ltd., highlighting the key dates and financial implications for bondholders. Group 1: Bond Issuance Overview - The convertible bonds, known as "Tianchuang Convertible Bonds," were publicly issued on June 24, 2020, and will start paying interest on June 24, 2025 [1]. - The bonds have a maturity period of six years with an interest rate of 2.00% [1]. Group 2: Interest Payment Details - The interest payment period for the fifth year is from June 24, 2024, to June 23, 2025, with a coupon rate of 1.80% (including tax) [2]. - The interest amount payable for each bond with a face value of 100 RMB is 1.80 RMB (including tax) [2]. Group 3: Important Dates - The bond interest registration date is June 23, 2025 [2]. - The ex-dividend date and interest payment date are both set for June 24, 2025 [2]. Group 4: Payment Method - The company has signed an agreement with the Shanghai Branch of China Securities Depository and Clearing Corporation Limited for the payment of interest [3]. - If the company fails to transfer the interest payment on time, the responsibility will revert to the company [3]. Group 5: Tax Implications - Individual investors are subject to a 20% personal income tax on the interest income, resulting in a net interest payment of 1.44 RMB per bond after tax [4]. - Non-resident enterprises are exempt from corporate income tax on the interest income until December 31, 2025 [4]. Group 6: Contact Information - The issuer, Tianchuang Fashion Co., Ltd., is located in Guangzhou, with contact details provided for inquiries [5].

证券代码：603608 证券简称：天创时尚 公告编号：临 2025-049 债券代码：113589 债券简称：天创转债 天创时尚股份有限公司 4.债券类型：可转换为公司A股股票的可转换公司债券 5.发行总额和数量：发行总额为人民币60,000万元，发行数量为600万张。 6.票面金额和发行价格：每张面值为人民币100元，按面值发行。 关于"天创转债"付息公告 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。 重要内容提示 天创时尚股份有限公司（以下简称"公司"）于2020年6月24日公开发行的可转换公司 债券（以下简称"天创转债"或"本期债券"）将于2025年6月24日开始支付自2024年6月 24日至2025年6月23日期间的利息。根据《天创时尚股份有限公司公开发行可转换公司 债券募集说明书》（以下简称"《募集说明书》"）有关条款的规定，现将相关事项公告 如下： 一、可转债发行上市概况 1.债券名称：天创时尚股份有限公司可转换公司债券 2.债券简称：天创转债 3.债券代码：113589 7.债券期限：自发行之日起6年，即 ...

| 证券代码：603608 | 证券简称：天创时尚 | 公告编号：临 2025-050 | | --- | --- | --- | | 债券代码：113589 | 债券简称：天创转债 | | 天创时尚股份有限公司 关于"天创转债"2025年跟踪评级结果的公告 公司前次主体信用评级为"A-"，天创转债前次信用评级为"A-"，评级展 望为"负面"；评级机构为中证鹏元，评级时间为2024年6月27日。 评级机构中证鹏元在对公司经营状况、行业相关情况进行综合分析与评估的 基础上，于2025年6月12日出具了《2020年天创时尚股份有限公司公开发行可转 换公司债券2025年跟踪评级报告》（中鹏信评【2025】跟踪第【123】号01）。 本次公司主体信用评级结果为"A-"，天创转债信用评级结果为"A-"，评级展 望为"负面"。 本 次 信 用 评 级 相 关 报 告 详 见 公 司 同 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《2020年天创时尚股份有限公司公开发行可转换公司 债券2025年跟踪评级报告》。 特此公告。 1 前次债券评级："A-"，主体评级："A-"，评级展望：" ...

2020 年天创时尚股份有限公司公 开发行可转换公司债券2025年跟 踪评级报告 中鹏信评【2025】跟踪第【123】号 01 信用评级报告声明 除因本次评级事项本评级机构与评级对象构成委托关系外，本评级机构及评级从业人员与评级对象不存 在任何足以影响评级行为独立、客观、公正的关联关系。 本评级机构与评级从业人员已履行尽职调查义务，有充分理由保证所出具的评级报告遵循了真实、客观、 公正原则，但不对评级对象及其相关方提供或已正式对外公布信息的合法性、真实性、准确性和完整性 作任何保证。 本评级机构依据内部信用评级标准和工作程序对评级结果作出独立判断，不受任何组织或个人的影响。 本评级报告观点仅为本评级机构对评级对象信用状况的个体意见，不作为购买、出售、持有任何证券的 建议。本评级机构不对任何机构或个人因使用本评级报告及评级结果而导致的任何损失负责。 本次评级结果自本评级报告所注明日期起生效，有效期为被评证券的存续期。同时，本评级机构已对受 评对象的跟踪评级事项做出了明确安排，并有权在被评证券存续期间变更信用评级。本评级机构提醒报 告使用者应及时登陆本公司网站关注被评证券信用评级的变化情况。 本评级报告版权归本评 ...