Core Viewpoint - The company is steadily advancing its comprehensive control and multi-category deep processing of aquatic products, establishing a robust food supply chain and expanding its operations both domestically and internationally [1] Group 1: Domestic Market Strategy - The company is focusing on a full-channel operation model that integrates online and offline sales, effectively connecting the entire industry chain from source to table [1] - Domestic sales are steadily increasing, with products being distributed through major supermarkets, central kitchens, and restaurant chains [1] - The company has successfully entered well-known supermarkets such as Walmart, and has established a chain brand "Eel Little Hall" to promote domestic eel cuisine culture [1] Group 2: International Market Strategy - The company leverages its full industry chain advantages to enhance its aquatic trade and international business operations [1] - It is actively expanding into emerging markets such as Russia, Canada, Eastern Europe, and the European Union, while consolidating its presence in traditional markets like Japan and South Korea [1] - The company aims to diversify its eel trade, enhancing its international market presence [1] Group 3: Supply Chain and Distribution Network - The company has established sales supply centers in multiple cities including Fuzhou, Hangzhou, Shanghai, and Chongqing, creating a comprehensive marketing network that covers various regions [1] - This network integrates distribution and sales, focusing on markets in Fujian, Guangdong, the Yangtze River Delta, and the central and western regions of China [1] - The company is committed to building a world-class food supply chain platform [1]

Core Viewpoint - The feed sector experienced a slight decline of 0.09% on September 2, with LuDe Environment leading the drop. The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1]. Group 1: Market Performance - The feed sector's individual stock performance showed mixed results, with LuSi Co., Ltd. closing at 20.70, up 1.02%, and HaiDa Group at 61.27, up 0.82% [1]. - The overall trading volume in the feed sector was notable, with stocks like DaBeiNong and TangRenShen showing significant trading activity, with volumes of 102.10 thousand and 31.88 thousand respectively [1]. Group 2: Capital Flow - The feed sector saw a net outflow of 204 million yuan from main funds, while retail investors contributed a net inflow of 174 million yuan [2]. - The capital flow data indicates that speculative funds had a net inflow of 29.51 million yuan, suggesting a mixed sentiment among different types of investors [2].

Core Insights - Tianma Technology is focused on building food bases such as Tianma Food, Haide Food, Tianma Furong Food, and Jiangxi Xilong Food, which are now fully operational [2] - The company has an annual production capacity of over 12,000 tons for grilled eel, establishing a comprehensive industry ecosystem centered around eel, including R&D, production, processing, sales, and services [2] - Tianma Technology has developed a traceable food safety system for grilled eel, ensuring a complete and effective closed-loop for the entire eel industry chain, providing safe, nutritious, and delicious food for consumers [2] - The company owns several well-known grilled eel brands, including "Eel Hall," "Eel Small Hall," "Cool Fresh," "Three Clear Dragons," and "Taste Eel Workshop" [2] - Recently, the company established a subsidiary in Japan and launched a new brand called "Reward Eel," with products exported to over 70 countries and regions across Europe, America, and Asia [2] - Tianma Technology is committed to creating a world-class food supply chain platform encompassing the entire industry chain [2]

Group 1 - The feed sector experienced a slight decline of 0.08% on September 1, with Lude Environment leading the drop [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] - Major stocks in the feed sector showed varied performance, with Bangmu Technology leading with a 9.99% increase, closing at 26.43 [1] Group 2 - The feed sector saw a net inflow of 146 million yuan from institutional investors, while retail investors experienced a net outflow of 36.42 million yuan [1] - The trading volume for key stocks in the feed sector varied, with Aonong Biological recording a volume of 1.6445 million shares traded [1] - The total transaction value for Bangmu Technology reached 270 million yuan, indicating strong investor interest [1]

Group 1 - The stock price of Tianma Technology on August 27 was 14.25 yuan, down 0.61 yuan or 4.10% from the previous trading day [1] - The trading volume on that day was 298,284 hands, with a transaction amount of 430 million yuan [1] - The company reported a total operating revenue of 2.974 billion yuan and a net profit attributable to shareholders of 60.217 million yuan for the first half of 2025, representing a year-on-year growth of 7.40% [1] Group 2 - The net cash flow from operating activities for the first half of 2025 was 20.414 million yuan [1] - On August 27, the net outflow of main funds was 41.541 million yuan, accounting for 0.58% of the circulating market value [1] - Over the past five days, the net outflow of main funds was 8.758 million yuan, accounting for 0.12% of the circulating market value [1]

Group 1 - The company reported a total operating revenue of 2.974 billion yuan, ranking 5th among disclosed peers [1] - The net profit attributable to shareholders was 60.217 million yuan, an increase of 4.1477 million yuan compared to the same period last year, achieving a year-on-year growth of 7.40% [1] - The net cash inflow from operating activities was 20.414 million yuan, ranking 4th among disclosed peers [1] Group 2 - The latest debt-to-asset ratio is 69.62%, a decrease of 0.18 percentage points from the previous quarter [3] - The latest gross profit margin is 10.74%, an increase of 1.71 percentage points from the previous quarter [3] - The latest return on equity (ROE) is 2.62%, an increase of 0.15 percentage points compared to the same period last year [3] Group 3 - The diluted earnings per share (EPS) is 0.12 yuan, an increase of 0.01 yuan compared to the same period last year, achieving a year-on-year growth of 9.09% [3] - The latest total asset turnover ratio is 0.32 times [3] - The latest inventory turnover ratio is 0.79 times [3] Group 4 - The number of shareholders is 17,100, with the top ten shareholders holding 236 million shares, accounting for 46.96% of the total share capital [3] - The top shareholder is Chen Qingtang, holding 19.1% of the shares [3] - The second-largest shareholder is Fujian Tianma Investment Development Co., Ltd., holding 12.2% of the shares [3]

Core Insights - Tianma Technology (603668.SH) has reported strong performance in the first half of 2025, with a net profit of 60.217 million yuan, an increase of 7.4% year-on-year [1] - The company leads the nation in the quantity of Japanese and American eel fry and stock, with significant growth in its smart aquaculture and health food segments [1][2] - The revenue from the "farming + food" business has increased to 27.58%, up 7.64 percentage points from the previous year [1] Financial Performance - The health food segment achieved approximately 401 million yuan in revenue, a substantial increase of 72.4% year-on-year, with grilled eel sales reaching about 3,661.36 tons, up 71.98% [1][2] - The aquaculture segment generated approximately 419 million yuan in revenue, reflecting a year-on-year growth of 14.02% [2] Market Expansion - Tianma Technology has established five food bases and created a brand matrix including "Eel Hall" and "Eel Small Hall," exporting products to over 70 countries and regions [2] - The company has launched a new brand "Reward Eel" in Tokyo, Japan, to better align with international consumer markets [2] Strategic Initiatives - The company has implemented a dual-track strategy for domestic and international operations, establishing a modern industrial park in China and expanding into overseas markets [3] - Tianma Technology plans to collaborate with Asahi Foods, a major Japanese food wholesaler, to penetrate the high-end East Asian market [3] Industry Trends - The consumption of aquatic products is shifting from "subsistence" to "quality-oriented," driven by technological innovation and market demand [3] - The company aims to build a world-class full industrial chain food supply platform, with aquaculture and food segments becoming key growth drivers [3]

Group 1 - Tianma Technology (603668.SH) released its 2025 semi-annual report on August 27, 2025, indicating that 11 institutional investors disclosed holdings in the company, totaling 117 million shares, which represents 23.28% of the total share capital [1] - The top ten institutional investors include Fujian Tianma Investment Development Co., Ltd., Hainan Beiheng Private Fund Management Center (Limited Partnership) - Beiheng No. 13 Private Securities Investment Fund, and others, with their combined holding ratio increasing by 2.16 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one fund, Guotai Zhongzheng Animal Husbandry ETF, increased its holdings by 0.17% compared to the previous period [2] - Three public funds, including Qianhai Kaiyuan Hong Kong-Shenzhen Agriculture Mixed (LOF) A, Everbright Baodexin Anrui One-Year Bond A, and 2000 Enhanced ETF, reduced their holdings by 0.14% compared to the previous quarter [2] - Two new public funds were disclosed this period, namely,招商稳旺混合A and Guotai Zhongzheng 2000 ETF, while four public funds were not disclosed this period, including Penghua Hongze Mixed A and others [2]

表决结果：同意 9 票；反对 0 票；弃权 0 票。 证券代码：603668 证券简称：天马科技 公告编号：2025-055 福建天马科技集团股份有限公司 第五届董事会第十次会议决议公告 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。 福建天马科技集团股份有限公司（以下简称"公司"）第五届董事会第十次 会议于 2025 年 8 月 25 日下午在福清市上迳镇工业区公司三楼会议室召开，会议 通知已按规定提前以书面及电子邮件方式送达。本次会议应到董事 9 人，实际到 会表决董事 9 人，公司全体监事和高级管理人员列席了本次会议，会议由董事长 陈庆堂先生主持。本次会议的召集、召开符合《中华人民共和国公司法》和《公 司章程》的有关规定。会议形成如下决议： 一、审议通过《关于公司 2025 年半年度报告及其摘要的议案》。 本议案已经公司董事会审计委员会审议通过。 《福建天马科技集团股份有限公司 2025 年半年度报告摘要》刊登于 2025 年 8 月 27 日的《中国证券报》 《上海证券报》 《证券时报》 《证券日报》和上海证 券交易所 ...

证券代码：603668 证券简称：天马科技 公告编号：2025-056 本公司监事会及全体监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。 福建天马科技集团股份有限公司（以下简称"公司"）第五届监事会第九次 会议于 2025 年 8 月 25 日下午在福清市上迳镇工业区公司三楼会议室召开，会议 通知已按规定提前以书面及电子邮件方式送达。本次会议由监事会主席何修明先 生主持。本次会议应出席监事 3 人，实际出席会议监事 3 人，董事会秘书列席了 会议。本次会议的召集、召开符合《中华人民共和国公司法》和《公司章程》的 有关规定。会议形成如下决议： 一、审议通过《关于公司 2025 年半年度报告及其摘要的议案》。 监事会对公司 2025 年半年度报告及其摘要进行了认真审核，认为： （1）公司 2025 年半年度报告及其摘要的编制和审议程序符合法律、法规、 《公司章程》和公司内部管理制度的各项规定。 （2）公司 2025 年半年度报告及其摘要的内容和格式符合中国证券监督管理 委员会和上海证券交易所的各项规定，所包含的信息能全面、真实地反映出公司 当期的经 ...