Q&A 银龙股份 20251130 摘要 银龙股份 2024 年前三季度净利润达 2.73 亿元，同比增长超 60%，受 益于产业结构优化及高附加值产品渗透率提升，显示出强劲的盈利能力。 公司积极布局新兴领域，参与野三水电站（总投资 1.2 万亿人民币）和 新藏铁路（总投资 4,000 亿人民币）等国家级项目，预计将显著提升未 来收益。 银龙股份参与俄罗斯莫斯科至圣彼得堡高铁项目，提供轨道板生产线预 计贡献约 2 亿净利润，并计划继续开拓俄罗斯市场及参与乌克兰重建， 潜在市场巨大。 近期股价回调主要受市场整体疲软和私募产品减持影响，但减持已完成， 预计股价将回归业绩驱动，公司基本面依然稳健。 公司正与国内头部机器人企业合作，布局机器人健身领域，并计划收购 锌化钢丝公司，进军高端钢丝市场，该市场规模约 1,000 亿人民币，目 前高端产品依赖进口。 银龙股份已全面布局墨脱水电站项目，预计未来 10-15 年需求量达 800-1,000 万吨，金额约五六百亿，并与中国电建合作成立合资公司， 扩大市场份额。 公司在山西建设的 100 兆瓦飞轮调频电站预计年底完工，明年初并网， 该项目收益率可观，总投资回本时间仅 3 ...

天津银龙预应力材料股份有限公司 2025 年第二次临时股东会 会议材料 二 O 二五年十一月 | | | 天津银龙预应力材料股份有限公司 2025 年第二次临时股东会参会须知 各位股东及股东代表： 为维护天津银龙预应力材料股份有限公司（以下简称"公司"）投资者的合 法权益，保障股东在公司 2025 年第二次临时股东会期间依法行使权利，确保股 东会的正常秩序和议事效率，根据《公司法》《证券法》《上市公司股东会规则》 《公司章程》及公司《股东会议事规则》等有关规定，特制定本须知： 一、请按照本次股东会会议通知，详见公司 2025 年 11 月 21 日刊登于《中 国证券报》《上海证券报》及上海证券交易所网站（www.sse.com.cn）的《关于 召开 2025 年第二次临时股东会的通知》（公告编号：2025-071）中规定的时间 和登记方法办理参加会议手续，证明文件不齐或手续不全的，谢绝参会。 二、本公司董事会办公室具体负责股东会的各项有关事宜。 三、本次股东会以现场投票、网络投票相结合的方式召开。 四、为保证本次大会的严肃性和维持会议的正常秩序，切实维护股东的合 法权益，务必请出席大会的股东或股东代理人（以下 ...

Core Viewpoint - The announcement details the share reduction by the controlling shareholder and its concerted action parties, indicating a completed share reduction plan that does not affect the company's control structure or governance significantly [3][10]. Group 1: Shareholding Structure - Before the reduction, the controlling shareholder, Mr. Xie Zhifeng, held 184,550,986 shares, accounting for 21.53% of the total share capital, while the concerted action party, Tongyi Furong No. 16 Private Securities Investment Fund, held 16,820,000 shares, representing 1.96% of the total share capital [3]. Group 2: Reduction Plan Implementation - The reduction plan was announced on October 17, 2025, with a maximum of 16,820,000 shares to be reduced through block trades and an additional 8,410,000 shares through centralized bidding, with the prices determined by market conditions at the time of reduction [4]. - The total shares reduced from November 11 to November 28, 2025, amounted to 16,820,000 shares, which is 1.96% of the total share capital, completing the reduction plan [4][10]. Group 3: Rights Change Notification - The shareholding ratio of Tongyi Furong No. 16 decreased from 25.76% to 25.00% after a reduction of 6,553,800 shares, triggering a notification of rights change that touched the 5% threshold [5]. - Following further reductions from November 26 to November 28, the shareholding ratio decreased from 25.00% to 23.80%, with a total reduction of 10,266,200 shares, touching the 1% threshold [6][9]. Group 4: Compliance and Impact - The share reduction was conducted in compliance with relevant laws and regulations, and it does not lead to any changes in the controlling shareholder or significant impacts on the company's governance structure [10].

Group 1 - The company Silver Dragon Co., Ltd. executed a block trade of 5.4462 million shares on November 28, with a transaction value of 45.6936 million yuan, accounting for 14.53% of the total trading volume for that day [1] - The transaction price was 8.39 yuan, which represents a discount of 14.3% compared to the market closing price of 9.79 yuan [1]

天津银龙预应力材料股份有限公司 关于控股股东、实际控制人之一致行动人权益变动触 及 1%刻度暨减持股份结果公告 证券代码：603969 证券简称：银龙股份 公告编号：2025-074 上海通怡投资管理有限公司—通怡芙蓉 16 号私募证券投资基金及其一致行 动人谢志峰、谢志钦、谢昭庭保证向本公司提供的信息真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 控股股东、实际控制人及其一致行动人持股的基本情况 本次减持计划实施前，天津银龙预应力材料股份有限公司（以下简称 "公 司"）控股股东、实际控制人谢志峰先生持有公司股份数量为 184,550,986 股， 占公司总股本比例为 21.53%，谢志峰先生之一致行动人上海通怡投资管理有限 公司—通怡芙蓉 16 号私募证券投资基金（以下简称"通怡芙蓉 16 号"）持有公 司股份数量为 16,820,000 股，占公司总股本比例为 1.96%。 减持计划的实施结果情况 公司于 2025 年 10 月 17 日披露《控股股东、实际控制人之一致行动人减持 股份计划公告》（公告编号：202 ...

Summary of Key Points Core Viewpoint - Yinlong Co., Ltd. (603969.SH) announced the completion of a share reduction plan by its shareholder Tongyi Furong No. 16, which involved a total reduction of 16.82 million shares, accounting for 1.96% of the company's total share capital [1]. Group 1 - The shareholder Tongyi Furong No. 16 reduced its holdings through two methods: 5.82 million shares via centralized bidding and 11 million shares through block trading [1]. - The reduction period spanned from November 11, 2025, to November 28, 2025, indicating a strategic timing for the share reduction [1]. - The total shares reduced represent a significant portion of the company's equity, which may impact market perception and stock performance [1].

Core Viewpoint - Silver Dragon Co., Ltd. has shown a significant stock price increase of 5.04%, reaching 9.79 CNY per share, with a total market capitalization of 8.393 billion CNY as of November 28 [1] Group 1: Company Overview - Silver Dragon Co., Ltd. is located in the Beichen District of Tianjin and was established on March 17, 1998, with its listing date on February 27, 2015 [1] - The company specializes in the research, production, and sales of prestressed concrete steel materials, track slabs, and related equipment [1] - The revenue composition of the company includes: 43.28% from steel wires, 34.93% from steel strands, 14.45% from sales and services of concrete products for rail transit, 5.56% from other sources, 1.41% from steel plates, and 0.37% from steel bars [1] Group 2: Fund Holdings - The Hive Fund has a significant holding in Silver Dragon Co., Ltd., with its advanced manufacturing mixed fund (019006) holding 43,000 shares, accounting for 2.6% of the fund's net value, making it the third-largest holding [2] - The fund has achieved a year-to-date return of 27.7%, ranking 2656 out of 8127 in its category, and a one-year return of 29.43%, ranking 2310 out of 8059 [2] Group 3: Fund Manager Performance - The fund manager, Wu Qiong, has a tenure of 2 years and 106 days, with a total fund asset size of 17.7827 million CNY and a best return of 22.76% during his tenure [3] - Co-manager Sun Ke has a tenure of 324 days, with the same fund asset size, achieving a best return of 30.21% during his management period [3]

Core Viewpoint - The company held a performance briefing for Q3 2025 to address investor concerns and discuss future strategies, including potential overseas expansion and capital operations [1][3]. Group 1: Company Operations and Strategy - The company has established a network of six production bases in China, focusing on proximity to markets and raw material sources, with plans for further expansion in key regions through joint ventures and wholly-owned subsidiaries [1][2]. - The company aims to enhance its internal value through continuous technological upgrades and capacity expansion in the prestressed materials and concrete products sectors, supported by two employee stock incentive plans implemented in 2023 and 2025 [3][5]. - The company is exploring opportunities in the renewable energy sector, particularly in wind power, by developing high-strength, corrosion-resistant products and establishing strategic partnerships with leading firms [5][6]. Group 2: Financial Performance and Growth Drivers - The company reported significant growth in Q3 2025, driven by increased sales in prestressed materials and concrete products, supported by ongoing national infrastructure projects [9][10]. - The company has optimized its product structure by focusing on high-performance products, which has led to improved market share and profitability [9][10]. - The company is actively expanding its presence in overseas markets, exporting products to over 90 countries and providing comprehensive solutions for international railway projects [8][10]. Group 3: Cost Management and Profitability - The company has implemented measures to optimize cost structures and enhance gross margins, including product structure optimization, production efficiency improvements, and strict expense controls [6][10]. - The company is committed to maintaining a healthy financial position, with stable cash flow and low debt levels, enabling it to pursue various refinancing options as needed [5][6]. Group 4: Market Expansion Plans - The company plans to deepen its market penetration in traditional infrastructure sectors while also exploring new applications in renewable energy [7][9]. - The company is focusing on expanding its market share in high-speed rail and urban transit projects, particularly in key regions such as North and South China [7][8].

证券代码：603969 证券简称：银龙股份 公告编号：2025-073 天津银龙预应力材料股份有限公司（以下简称"公司"）于 2025 年 11 月 26 日（星期三）下午 15:00-16:00 在上海证券交易所上证路演中心以网络互动方式召开 2025 年第三季度业绩说明会，就投资者关心的问题进行沟通与交流。关于本次业绩 说明会的召开事项，公司已于 2025 年 10 月 29 日在《上海证券报》《中国证券报》 及上海证券交易所网站（www.sse.com.cn）披露了《关于召开 2025 年第三季度业绩 说明会的公告》（公告编号：2025-064）。现将有关情况公告如下： 一、本次业绩说明会召开情况 （一）会议召开时间：2025 年 11 月 26 日（星期三）下午 15:00-16:00 （二）会议召开地点：上证路演中心（https://roadshow.sseinfo.com/） （三）会议召开方式：上证路演中心网络互动 （四）参会人员：董事长兼总经理谢志峰先生、财务总监钟志超先生、独立董 事李真女士、董事会秘书谢昭庭女士 天津银龙预应力材料股份有限公司 关于 2025 年第三季度业绩说明会召开情况的 ...

Group 1 - The company, Yinlong Co., Ltd. (SH 603969), announced that as of now, it has provided a total guarantee of 500 million yuan to its subsidiaries, accounting for 20.24% of the latest audited net assets [1] - Among the guarantees, 300 million yuan was provided to subsidiaries with a debt-to-asset ratio above 70%, representing 12.13% of the latest audited net assets, while 200 million yuan was provided to subsidiaries with a debt-to-asset ratio below 70%, accounting for 8.1% of the latest audited net assets [1] - As of the report date, the market capitalization of Yinlong Co., Ltd. is 7.7 billion yuan [1] Group 2 - For the first half of 2025, the revenue composition of Yinlong Co., Ltd. is as follows: steel wire accounts for 43.28%, steel strand accounts for 34.93%, concrete products for rail transit and related services account for 14.45%, other businesses account for 5.56%, and rail sales account for 1.41% [1]