智通财经APP讯，银龙股份(603969.SZ)发布公告，公司控股子公司河间市银龙轨道有限公司的全资子公 司河间市顺泰劳务派遣有限公司与中铁上海工程局集团第四工程有限公司签订合同编号为SXSFB- LWFB-2025-01的《轨道板施工劳务分包合同》，是为石雄铁路安国市和石家庄市无极县中间段进行 CRTSⅢ型轨道板预制提供劳务作业签订的劳务分包合同，《劳务分包合同》金额为1.08亿元(人民币)。 ...

2025年8月14日，银龙股份控股子公司旗下的河间市顺泰劳务派遣有限公司与中铁上海工程局集团第四 工程有限公司签订《轨道板施工劳务分包合同》，合同金额107,564,548元，为石雄铁路安国市和石家庄 市无极县中间段CRTSⅢ型轨道板预制提供劳务。工作总日历天数1050天，暂定8月14日开工。 ...

Core Viewpoint - The construction progress of the New Tibet Railway, an important transportation line connecting Xinjiang and Tibet, is accelerating, with plans to start construction within the year [1] Group 1: Project Development - The New Tibet Railway project is entering a new phase with the establishment of the New Tibet Railway Co., Ltd. in August 2025 [1] - The Ministry of Transport has indicated that preliminary work for the project is being expedited [1] Group 2: Company Advantages - The company has a competitive edge in servicing the project through its wholly-owned subsidiary, Xinjiang Yinlong, which has a prestressed material production base in Xinjiang and experience in the Lhasa-Linzhi Railway project [1] - The company's controlling subsidiary, Yinlong Rail, has established production bases in multiple strategic hub cities across the country, creating a comprehensive and responsive supply network for track slabs and sleepers [1] Group 3: Commitment to National Infrastructure - The company is committed to this national strategic project and has arranged a professional team to continuously monitor its progress [1] - Leveraging its extensive experience in servicing major projects and comprehensive capabilities, the company aims to participate in the construction of the New Tibet Railway and contribute to national infrastructure development [1]

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。 重要内容提示： ● 担保对象及基本情况 ■ ● 累计担保情况 ■ 天津银龙预应力材料股份有限公司（以下简称"银龙股份"或"公司"或"保证人"）于2025年8月8日与上海 浦东发展银行股份有限公司天津分行（以下简称"浦发银行"或"债权人"）签署《最高额保证合同》，为 银龙科贸向浦发银行融资提供连带责任保证，本次担保的金额为人民币3,000万元，本次担保无反担 保。 （二）内部决策程序 公司于2025年4月24日召开的第五届董事会第十二次会议与2025年5月15日召开的2024年年度股东大会审 议通过了《关于公司2025年对外担保预计的议案》，同意为银龙科贸提供不超过40,000万元的融资担 保，本次担保在上述担保额度范围内。 二、被担保人基本情况 （3）宣布提前到期的主债权为债权确定期间内全部或部分债权的，以其宣布的提前到期日为全部或部 分债权的到期日，债权确定期间同时到期。债权人宣布包括债权人以起诉书或申请书或其他文件向有权 机构提出的任何主张。 （4）债权人与债务人就主债务履行 ...

Core Viewpoint - The company, Tianjin Yinlong Prestressed Materials Co., Ltd., has provided a guarantee for its wholly-owned subsidiary, Yinlong Science and Trade, to secure financing from Shanghai Pudong Development Bank, amounting to RMB 30 million [2][3]. Group 1: Guarantee Details - The guarantee amount is RMB 30 million, with no counter-guarantee involved [2][5]. - The guarantee is a joint liability guarantee, covering not only the principal debt but also interest, penalties, and other related costs [6][7]. - The guarantee period extends for three years after the debt repayment period for each debt contract [6]. Group 2: Internal Decision Process - The board of directors approved the guarantee during the 12th meeting of the 5th board on April 24, 2025, and at the annual shareholders' meeting on May 15, 2025, allowing for guarantees up to RMB 40 million [3]. Group 3: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary for the daily operations and business development of Yinlong Science and Trade, with the amount within the company's annual guarantee limit [7]. - The company maintains control over the subsidiary's operations and financial status, ensuring that the risks are manageable and do not harm shareholder interests [7][8]. Group 4: Cumulative Guarantee Situation - As of now, the company has provided a total of RMB 599.5 million in guarantees to its subsidiaries, representing 24.29% of the latest audited net assets [8]. - Among these, RMB 389.5 million is for subsidiaries with a debt-to-asset ratio above 70%, and RMB 210 million is for those below 70% [8].

Summary of Silver Dragon Co., Ltd. Conference Call Company Overview - Silver Dragon Co., Ltd. is a leading player in the industry, benefiting from the continuous growth of water conservancy investment and highway construction, particularly in bridge construction, with a significant increase in the number of large bridges over the past five years, driving demand for prestressed materials [2][8] Core Business and Financial Performance - The main business includes prestressed materials and rail transit supporting materials, primarily used in large infrastructure projects such as railways, water conservancy, and bridges [3] - The company has achieved a revenue of approximately 4 billion to 4.5 billion yuan in 2024, with a projected growth to 5 billion to 6 billion yuan in 2026, indicating a strong performance [5][17] - From 2012 to 2023, the company's profit remained stable between 100 million to 200 million yuan, with a significant increase expected in 2024, reaching approximately 240 million yuan, a year-on-year growth of nearly 40% [6] Market Dynamics - The supply-side clearing in the industry is evident, with a projected 7% year-on-year decline in steel strand production in 2024, leading to the exit of smaller enterprises [9] - Water conservancy investment has maintained a scale of over one trillion yuan for three consecutive years, with growth rates above 10%, positively impacting the demand for PCCP and aluminum steel wire materials [7] Product Advantages and Market Position - Silver Dragon holds over 50% market share in high-end products such as high-strength and ultra-high-strength steel strands, with a gross margin of around 30% [2][10] - The company’s products are applied in various high-speed rail projects, with expected revenue of approximately 1.3 billion yuan in 2024 and a gross margin of 15%-16% [11] - The company has a leading technology in the production of three types of track slabs, which enhances construction speed and quality, further solidifying its market position [12] Growth Opportunities - The overseas market expansion is a key focus, with current overseas revenue exceeding 600 million yuan, and potential growth in Europe, Central Asia, and Southeast Asia [16] - The market for three-gold stocks is expected to double by 2028, driven by high-speed rail acceleration and increased penetration in ordinary mileage railways [13][14] Strategic Initiatives - The company has established a conservative performance equity incentive plan aiming for cumulative growth of 20%, 40%, and 60% from 2025 to 2027, with a current achievement of 70% growth [5][17] - The company is actively exploring other fields, including molds, to diversify its business and enhance revenue streams [15] Conclusion - Overall, Silver Dragon Co., Ltd. is well-positioned for future growth, benefiting from strong project demand, accelerated water conservancy investment, and successful overseas market expansion, making it a noteworthy investment opportunity [18]

证券日报网讯8月11日晚间，银龙股份（603969）发布公告称，截至目前，公司累计对控股子公司、全 资子公司及孙公司提供的担保总额为5.995亿元，占公司最近一期经审计净资产的24.29%。公司无逾期 担保。 ...

Group 1 - Company signed a maximum guarantee contract with Shanghai Pudong Development Bank for a financing amount of 30 million RMB for its wholly-owned subsidiary [2] - The company has provided a total guarantee of 600 million RMB to its subsidiaries, accounting for 24.29% of the latest audited net assets [2] - The company has approved a financing guarantee limit of up to 400 million RMB for its subsidiary [2] Group 2 - In 2024, the revenue composition of the company was as follows: steel strand 42.82%, steel wire 35.93%, concrete products for rail transit 13.11%, steel rail sales 4.53%, and other businesses 2.95% [3]

证券代码：603969 证券简称：银龙股份 公告编号：2025-039 天津银龙预应力材料股份有限公司 关于为全资子公司提供担保的公告 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法律责任。 重要内容提示： （一） 担保的基本情况 天津银龙预应力材料股份有限公司（以下简称"银龙股份"或"公司"或"保 证人"）于 2025 年 8 月 8 日与上海浦东发展银行股份有限公司天津分行（以下简 称"浦发银行"或"债权人"）签署《最高额保证合同》，为银龙科贸向浦发银行 融资提供连带责任保证，本次担保的金额为人民币 3,000 万元，本次担保无反担 保。 （二） 内部决策程序 公司于 2025 年 4 月 24 日召开的第五届董事会第十二次会议与 2025 年 5 月 15 日召开的 2024 年年度股东大会审议通过了《关于公司 2025 年对外担保预计 的议案》，同意为银龙科贸提供不超过 40,000 万元的融资担保，本次担保在上 述担保额度范围内。 二、被担保人基本情况 | 被担保人类型 | √法人 | | --- | --- | | | □ ...

Investment Rating - The report recommends a "Buy" rating for companies such as Beixin Building Materials and China Jushi, while suggesting an "Overweight" rating for Weixing New Materials [9]. Core Views - The construction materials sector has shown a mixed performance, with cement prices stabilizing while glass and fiberglass sectors face challenges [2][3]. - The recent policy changes in Beijing regarding real estate are expected to influence demand dynamics across the sector [2]. - The report highlights the potential for recovery in the construction materials sector, particularly in municipal engineering projects due to increased government bond issuance [2]. Summary by Sections 1. Market Overview - From August 4 to August 8, 2025, the construction materials sector (SW) increased by 1.24%, with cement rising by 2.81% and glass manufacturing declining by 0.37% [12]. - The net capital inflow for the construction materials sector was -680 million yuan during this period [12]. 2. Cement Industry Tracking - As of August 8, 2025, the national cement price index was 335.96 yuan/ton, a decrease of 0.51% from the previous week [16]. - The national cement output was 2.6415 million tons, down 4.08% week-on-week, with infrastructure cement supply also declining [16]. - The report notes that while infrastructure remains a key demand driver, residential construction demand is weak, and recovery in civil demand is contingent on seasonal factors [16]. 3. Glass Industry Tracking - The average price of float glass was 1274.90 yuan/ton, reflecting a 1.57% decrease from the previous week [6]. - Inventory levels for glass have increased, indicating ongoing supply-demand imbalances [6]. 4. Fiberglass Industry Tracking - The report indicates that fiberglass prices have stabilized after a period of decline, with demand expected to improve due to growth in wind power installations [7]. - The market for electronic yarn remains stable, with high-end products experiencing strong demand [7]. 5. Consumer Building Materials - The consumer building materials sector is benefiting from improved second-hand housing transactions and consumption stimulus policies [2]. - The report continues to recommend companies like Beixin Building Materials and Weixing New Materials for their growth potential [9]. 6. Carbon Fiber Industry Tracking - The carbon fiber market is showing signs of stability, with production levels remaining consistent and demand expected to grow in various applications [8].