证券代码：603969 证券简称：银龙股份 公告编号：2025-036 天津银龙预应力材料股份有限公司 2025 年半年度业绩预增公告 经财务部门初步测算，预计 2025 年半年度实现归属于母公司所有者的净 利润为 16,066.91 万元至 18,075.27 万元，与上年同期（法定披露数据）相比，将 增加 6,025.09 万元至 8,033.45 万元，同比增长 60%至 80%。 预计 2025 年半年度实现归属于母公司所有者的扣除非经常性损益的净 利润 16,061.31 万元至 18,068.97 万元，与上年同期（法定披露数据）相比，将增 加 6,022.99 万元至 8,030.65 万元，同比增长 60%至 80%。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 6 月 30 日。 （二）业绩预告情况 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： 1. 经天津银龙预应力材料股份有限公司（以下简称"公司"）财务部门初步 测算，预计 2025 年半 ...

Group 1 - The core viewpoint of the news is that Pingjing Investment has conducted research on a listed company, Yilong Co., which specializes in high-performance prestressed materials and concrete products for rail transit [1] - Yilong Co. highlighted its applications of galvanized prestressed steel wires and steel strands in large bridges under harsh conditions, and its CRTS III-type track slabs have a high market penetration in new high-speed rail projects [1] - The company's operating cash flow shows quarterly fluctuations mainly due to differences in payment settlement methods, not related to structural adjustments in the industry [1] Group 2 - Yilong Co. has a diversified business model, with a significant portion of its operations related to the railway system, but also applicable in water conservancy, bridges, and highways [1] - The company believes its performance is less correlated with the cyclical fluctuations of the traditional infrastructure industry, demonstrating strong operational resilience [1] - Yilong Co. emphasizes the stability of its R&D talent and core personnel, having established a full-cycle management mechanism and implemented equity incentives [1] Group 3 - The company has built an efficient decision-making mechanism to ensure effective governance and stable, efficient operations [1] - Pingjing Investment, established in 2016, is recognized as one of China's leading private equity investment fund managers, focusing on investment opportunities in Chinese listed companies and having a broad layout in overseas markets, especially in Chinese concept stocks [2] - The investment firm emphasizes research-driven decision-making, relying on in-depth industry and individual stock research as the sole basis for investment decisions [2]

Core Viewpoint - Tianjin Yinlong Prestressed Materials Co., Ltd. announced a cash dividend of 0.08 RMB per share, totaling 68,587,520 RMB, following the approval of the profit distribution plan at the 2024 annual shareholders' meeting on May 15, 2025 [1][5]. Distribution Plan - The cash dividend will be distributed to all shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on July 11, 2025 [1][2]. - The total number of shares for the distribution is adjusted from 850,814,000 to 857,344,000 shares due to the company's restricted stock incentive plan [1]. Relevant Dates - The key dates for the dividend distribution are as follows: - Share registration date: July 11, 2025 - Last trading date: July 14, 2025 - Ex-dividend date: July 14, 2025 [2]. Implementation Method - Cash dividends for unrestricted circulating shares will be distributed through the clearing system of China Securities Depository and Clearing Corporation Limited, Shanghai Branch [2]. - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [2]. Taxation Policies - For individual shareholders holding unrestricted circulating shares for over one year, the cash dividend is exempt from personal income tax, resulting in an actual distribution of 0.08 RMB per share [3]. - For shares held for less than one year, the tax will be calculated based on the holding period, with specific rates applied [3][4]. - For QFII shareholders, the company will withhold taxes according to relevant regulations, with a net distribution of 0.072 RMB per share after a 10% tax deduction [4]. Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the board office at 022-26983538 [5].

本公司董事会、全体董事及相关股东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： 每股分配比例 A 股每股现金红利0.08元 相关日期 证券代码：603969 证券简称：银龙股份 公告编号：2025-035 天津银龙预应力材料股份有限公司 2024年年度权益分派实施公告 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/7/11 | － | 2025/7/14 | 2025/7/14 | 差异化分红送转：否 一、通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 5 月 15 日的2024年年度股东会审议通过。 二、分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 2025 年 6 月 27 日，公司 2025 年限制性股票激励计划登记完成，本次登记的 限制性股票共计 653 ...

Investment Rating - The report maintains a positive outlook on the construction materials sector, with specific buy and hold recommendations for various companies [9][12]. Core Viewpoints - The construction materials sector has shown resilience, with a 3.50% increase in the sector index from June 30 to July 4, 2025, outperforming the Shanghai and Shenzhen 300 index by 2.33% [12]. - The central government's focus on stabilizing the real estate market and promoting high-quality development is expected to positively impact demand for construction materials [2][12]. - The cement industry is experiencing a supply-side reform, with increased efforts to reduce overcapacity and stabilize prices [2][3]. Summary by Sections Cement Industry Tracking - As of July 4, 2025, the national cement price index is 350.38 CNY/ton, down 1.32% week-on-week, with a total cement output of 2.76 million tons, also down 1.67% [3][17]. - The construction sector remains a key demand driver for cement, but short-term growth is constrained by weather and funding issues [17]. - The report highlights a significant year-on-year decline of 26.01% in cement output for housing construction, indicating a challenging market environment [6][17]. Glass Industry Tracking - The average price of float glass is 1201.02 CNY/ton, with a slight decrease of 0.13% from the previous week, while inventory levels have decreased slightly [33]. - Demand remains under pressure, and the report anticipates challenges in maintaining sales momentum due to high production capacity and ongoing order shortages [33][34]. Fiberglass Industry Tracking - The fiberglass market is experiencing stable pricing, with no significant changes in supply or demand noted in the short term [7]. - The report indicates that demand for wind power fiberglass is relatively strong, providing some support to the market [7]. Consumer Building Materials - The consumer building materials segment is benefiting from improved second-hand housing transactions and consumption stimulus policies, with a recommendation to focus on companies like Beixin Building Materials and Weixing New Materials [2][9]. Carbon Fiber Industry Tracking - The carbon fiber market is seeing a gradual recovery in downstream demand, with production costs remaining high and profit margins under pressure [8].

[Table_Info1] 银龙股份(603969) 机械设备 [Table_Date] 发布时间：2025-07-01 [Table_Title] 证券研究报告 / 公司点评报告 全球预应力材料领军企业，业绩或进入放量期 [Table_Summary] 事件：根据交易所互动平台信息，针对机器人腱绳业务，公司正在对精 细化线材产品的全品类应用场景进行深入研究，该项目尚处于前期调研 与技术储备阶段。 点评 预应力材料+轨交用混凝土制品营收利润高增，业绩进入加速放量期 预应力材料和轨交用混凝土制品作为公司的核心业务，2024 年实现营收 业务双高增。预应力材料：2024 年，公司预应力材料产业实现营业收入 24.25 亿元（同比+6.03%），实现归母净利润 1.74 亿元（同比+ 55.93%）， 主要系销量同比增长和高附加值产品占比提升。公司作为全球领先的预 应力材料全产业链企业，年产能超过 60 万吨。2025 年，公司将基于当 前在手订单及市场需求持续放量。同时，受益于国家重大基础设施工程 的稳健发展，公司将着力提升高附加值产品的市场占有率，进一步提升 盈利能力。轨交用混凝土制品：2024 年，公司轨交用 ...

Core Points - The company has completed the registration of its 2025 restricted stock incentive plan, granting a total of 6.53 million shares [1][7] - The restricted stock was allocated to 150 core management and key personnel, with the total number of shares representing 0.76% of the company's total shares on the grant date [2][7] - The stock grant will not change the controlling shareholder's ownership percentage significantly, as the controlling shareholder's stake will decrease from 21.59% to 21.53% after the grant [7][9] Summary by Sections Grant Details - The restricted stock grant date was June 27, 2025, with a total of 6.53 million shares registered [1][7] - The shares were sourced from 2.58 million shares issued to the incentive targets and 3.95 million shares repurchased from the secondary market [2][7] Vesting Schedule - The vesting of the restricted stock is structured over four years, with 30% vesting after 12 months, another 30% after 24 months, and 40% after 36 months [5][6] - The stock cannot be transferred or used as collateral until the vesting conditions are met [3][6] Performance Metrics - The performance assessment for the incentive plan will be conducted annually from 2025 to 2027, focusing on net profit growth rates and cumulative net profit targets [6][10] - The company will repurchase and cancel any restricted stocks that do not meet the performance criteria [6][10] Financial Impact - The total expense recognized for the 6.53 million shares granted is estimated at 21.94 million yuan, which will be amortized over the vesting period [10][12] - The company will adjust the number of shares eligible for vesting based on performance metrics and the number of participants eligible for release [10][12] Share Capital Structure - Following the grant, the company's total share capital will increase from 854,764,000 shares to 857,344,000 shares [7][9] - The distribution of shares remains compliant with listing requirements post-grant [9]

证券代码：603969 证券简称：银龙股份 公告编号：2025-033 天津银龙预应力材料股份有限公司 关于 2025 年限制性股票激励计划授予结果公告 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： 天津银龙预应力材料股份有限公司（以下简称"公司"）于 2025 年 6 月 30 日收到中国证券登记结算有限责任公司上海分公司出具的《证券变更登记证明》， 限制性股票登记日期为 2025 年 6 月 27 日，根据中国证监会《上市公司股权激励 管理办法》及上海证券交易所、中国证券登记结算有限责任公司上海分公司有关 规定，公司完成了 2025 年限制性股票激励计划授予登记工作，有关具体情况公 告如下： 一、限制性股票的授予情况 3．授予人数：150人，包括公司（含公司控股子公司）核心管理人员及核心 骨干人员。 4．授予价格：3.50元/股。 限制性股票登记日：2025 年 6 月 27 日 限制性股票登记数量：653.00 万股 5．股票来源：公司从二级市场回购的本公司A股普通股和向激励对象定向 发行的本公司 ...

证券代码：603969 证券简称：银龙股份 公告编号：2025-034 专用证券账户中股份发生变动的，公司拟维持每股分配比例不变，相应调整分配总 额。 2025 年 6 月 27 日，公司 2025 年限制性股票激励计划登记完成，本次登记的 限制性股票共计 653.00 万股，其中来源于向激励对象定向发行的本公司 A 股普通 股为 258.00 万股，来源于公司从二级市场回购的本公司 A 股普通股为 395.00 万股。 因公司 2025 年限制性股票激励计划在中国证券登记结算有限责任公司上海分公司 登 记 过 户 完 成 ， 公 司 进 行 利 润 分 配 的 股 份 数 量 由 850,814,000.00 股 调 整 为 857,344,000.00 股。因此，公司维持每股分配比例不变，以 2024 年年度利润分配时 股权登记日的总股本为基数，向全体股东每 10 股派发现金红利 0.8 元（含税）。 截至本公告披露日，公司总股本为 857,344,000.00 股，以此为基数，本次共计分配 现金红利 68,587,520.00 元。同时，根据《上海证券交易所上市公司自律监管指引 第 7 号——回购股份》 ...

Group 1: Yinlong Co., Ltd. - Yinlong Co., Ltd. has a broad production base in the prestressed materials and concrete products for rail transit industry, adhering to market proximity and regional radiation principles [1] - The company is involved in multiple high-speed rail projects, such as the Xiong'an New Area to Shangqiu high-speed rail, ensuring production schedules align with project milestones [1] - The company is optimistic about future performance, with the PCCP industry expected to maintain a compound annual growth rate of 6%-7% until 2030 [1] Group 2: Kangxi Communication - Kangxi Communication's operating conditions are strong in the first half of 2025, with orders sufficient to cover until the fourth quarter of 2025 [2] - The company benefits from the increasing demand for Wi-Fi 7 products, with significant revenue growth driven by strong demand in industrial IoT products and high-efficiency drone products [2] - The 337 investigation is set to officially commence in July 2025, with an initial ruling expected by the end of the year [2] - The Wi-Fi 8 technology standard is anticipated to be established by the end of 2027, with product samples expected to be launched in 2026 [2]