中信建投证券股份有限公司 关于北京天玛智控科技股份有限公司 首次公开发行部分战略配售限售股上市流通的核查意见 中信建投证券股份有限公司（以下简称"保荐人"）作为北京天玛智控科技 股份有限公司（以下简称"公司"或"天玛智控"）首次公开发行股票并在科创 板上市的保荐人，根据《证券发行上市保荐业务管理办法》《上海证券交易所科 创板股票上市规则》等有关法律法规和规范性文件的要求，对天玛智控首次公开 发行部分限售股上市流通的事项进行了核查，具体情况如下： 一、本次上市流通股的限售股类型 根据中国证券监督管理委员会于 2023 年 3 月 21 日出具的《关于同意北京天 玛智控科技股份有限公司首次公开发行股票注册的批复》（证监许可〔2023〕614 号），公司首次向社会公众公开发行人民币普通股 73,000,000 股，并于 2023 年 6 月 5 日在上海证券交易所科创板上市，公司首次公开发行后股本总额为 433,000,000 股，其中有限售条件流通股合计 378,690,809 股，占公司总股本的 87.46%，无限售条件流通股合计 54,309,191 股，占公司总股本的 12.54%。 本次上市流通的限售股为 ...

Investment Rating - The investment rating for the coal mining industry is "Positive" [2] Core Viewpoints - The current phase is seen as the beginning of a new upward cycle for the coal economy, with a resonance between fundamentals and policies, making it an opportune time to invest in the coal sector [11][12] - The coal price is expected to stabilize at a new level, supported by a slowdown in coal production growth, particularly in high-cost regions like Xinjiang, and a decrease in coal imports [11][12] - The coal sector is characterized by high profitability, cash flow, return on equity (ROE) between 10-20%, and dividend yields exceeding 5%, indicating strong core asset attributes [11][12] Summary by Sections 1. Coal Price Trends - As of May 24, the market price for Qinhuangdao port thermal coal (Q5500) is 613 RMB/ton, down 5 RMB/ton week-on-week [3][30] - The price for coking coal at Jing Tang port is 1320 RMB/ton, down 30 RMB/ton week-on-week [3][32] - International thermal coal prices show a mixed trend, with Newcastle thermal coal at 68.0 USD/ton, down 1.0 USD/ton week-on-week [3][30] 2. Supply and Demand Dynamics - The utilization rate of thermal coal mines increased to 97.1%, while coking coal mine utilization decreased to 86.3% [11][12] - Daily coal consumption in coastal provinces rose by 7.10 thousand tons/day (+3.93%) and in inland provinces by 6.00 thousand tons/day (+1.93%) [11][12] - The April coal production in China was 390 million tons, reflecting a 5 million ton decrease from March, indicating a contraction in supply [11][12] 3. Investment Strategy - The report emphasizes the importance of investing in high-quality coal companies with stable operations and strong performance, such as China Shenhua, Shaanxi Coal, and others [12][13] - The coal sector is expected to maintain high performance and cash flow, with a favorable outlook for the next 3-5 years due to ongoing supply constraints [12][13] 4. Market Performance - The coal sector saw a 0.98% increase this week, outperforming the broader market, which saw a 0.18% decline [15][18] - The thermal coal segment rose by 1.62%, while the coking coal segment experienced a slight decline [15][18]

Core Insights - The Chinese mining robot market is characterized by a low concentration level, with a CR10 of approximately 20% [6] - The market is segmented into three tiers based on competitive strength, with leading companies including CITIC Heavy Industries, China Railway Heavy Industry, Zhengzhou Coal Mining Machinery, and China Coal Technology Engineering Group in the first tier [1][9] - The industry is experiencing a shift towards intelligent mining solutions, with companies like CITIC Heavy Industries and Shandong Hi-Speed Heavy Industry pursuing smart transformation [9] Market Structure - The first tier of the mining robot market includes CITIC Heavy Industries, China Railway Heavy Industry, Zhengzhou Coal Mining Machinery, and China Coal Technology Engineering Group, which possess strong market presence and product ecosystems [1] - The second tier consists of companies like Keda Control, Shanhe Intelligent, Tianma Intelligent, and Tianhe Technology, which have advantages in R&D investment and product manufacturing [1] - The third tier includes Guoxing Intelligent, Felik Technology, and Dade Measurement and Control, which focus on product manufacturing but have weaker competitive positions [1] Regional Analysis - The mining robot industry chain is well-developed in Guangdong, Shaanxi, Shandong, Jiangsu, and Shanxi provinces, with Guangdong and Jiangsu having a strong upstream component supply [3] - Shaanxi, Shandong, and Shanxi have a high demand for mining robots due to the presence of numerous mines [3] Competitive Landscape - The industry lacks a clear leader in terms of both revenue and growth, with most companies focusing on traditional mining equipment rather than intelligent mining robots [9] - Companies like Zhengzhou Coal Mining Machinery and Tianhe Technology are leading in revenue but have struggled with profit margins [9] - Notable companies with high profit margins exceeding 30% include Tianma Intelligent, Meian Technology, and Keda Control [9] Competitive Evaluation - A competitive analysis using six dimensions shows that CITIC Heavy Industries, China Coal Technology Engineering Group, China Railway Heavy Industry, and Zhengzhou Coal Mining Machinery lead in market revenue, product layout, and R&D investment [12] - Companies like Keda Control and Tianma Intelligent have lower revenue but a diverse product range, indicating potential for growth [12] Porter's Five Forces Analysis - The intensity of rivalry among existing competitors is moderate, with specialized manufacturers like Tianma Intelligent and Keda Control holding a technological edge [14] - The threat of new entrants is significant due to policy support for smart mining, although high R&D costs and technical barriers limit small enterprises [14] - Supplier bargaining power is strong, particularly for core components that are often imported [14] - Buyer bargaining power is also strong, especially among large state-owned mining enterprises [14]

证券代码：688570 证券简称：天玛智控 公告编号：2025-015 北京天玛智控科技股份有限公司 本次利润分配以方案实施前的公司总股本433,000,000股为基数，每股派发现金红利0.33元（含税），共 计派发现金红利142,890,000元。 重要内容提示： 每股现金红利0.33元 2024年年度权益分派实施公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 ● 相关日期 ■ 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025年4月25日的2024年年度股东大会审议通过。 2.分派对象： 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： 三、相关日期 ■ 四、分配实施办法 1.实施办法 除公司自行发放对象外，公司其余股东的红利委托中国结算上海分公司通过其资金清算系统向股权登记 日上海证券交易所收市后登记在册并在上海证券交易所各会员办理了指定交易的股东派发。已办理指定 交易的投资者可于红利发 ...

Group 1 - The "5 15-5 19 Small and Medium Investor Protection Awareness Week" event was held from May 15 to 19 in Beijing, Shanghai, and Shenzhen, focusing on promoting investment knowledge and advocating rational, value, and long-term investment principles [1] - Tianma Zhikong has established a good market reputation in the coal industry and aims to build a responsible brand image in the capital market as a central enterprise listed on the Sci-Tech Innovation Board [1][2] - The company emphasizes high-quality development as a prerequisite for effective market value management, maintaining a high gross profit margin and gradually increasing dividend payout rates post-listing [2] Group 2 - Continuous innovation is identified as the core "secret" to Tianma Zhikong's high-quality development, with a focus on key core technology innovations to drive the coal industry's transformation and upgrade [3] - The company has developed an automated control system for comprehensive mining, leading advancements in unmanned intelligent mining technology, and has been recognized as a national-level exemplary intelligent factory [3]

| 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/5/23 | 2025/5/26 | 2025/5/26 | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 4 月 25 日的2024年年度股东大会审议通过。 证券代码：688570 证券简称：天玛智控 公告编号：2025-015 北京天玛智控科技股份有限公司 2024年年度权益分派实施公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 1. 实施办法 除公司自行发放对象外，公司其余股东的红利委托中国结算上海分公司通过 其资金清算系统向股权登记日上海证券交易所收市后登记在册并在上海证券交易 所各会员办理了指定交易的股东派发。已办理指定交易的投资者可于红利发放日 在其指定的证券营业部领取现金红利，未办理指定交易的股东红利暂由中国结算 上海分公司保管，待办理指定交易后再进行派发。 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 ...

Investment Rating - The investment rating for the coal mining industry is "Positive" [2] Core Viewpoints - The current phase is seen as the beginning of a new upward cycle in the coal economy, with a resonance between fundamentals and policies, making it an opportune time to accumulate coal sector investments [12][13] - The coal price is expected to remain weak in May due to seasonal demand fluctuations, but there is a bottom support for prices, and a gradual recovery is anticipated as the peak season approaches [3][12] - The underlying investment logic of coal supply shortages remains unchanged, with a balanced short-term supply and demand but a medium to long-term gap still present [12][13] Summary by Sections Coal Price Tracking - As of May 10, the market price for Qinhuangdao port thermal coal (Q5500) is 635 CNY/ton, down 17 CNY/ton week-on-week [30] - The international thermal coal price for Newcastle (NEWC5500) is 69.8 USD/ton, down 0.5 USD/ton week-on-week [30] - The price for coking coal at Jing Tang port is 1380 CNY/ton, down 20 CNY/ton week-on-week [32] Supply and Demand Tracking - The capacity utilization rate for thermal coal mines is 96.4%, an increase of 2.5 percentage points week-on-week [47] - The daily coal consumption in inland provinces has increased by 33.80 thousand tons/day, a rise of 12.17% week-on-week [12] - The daily coal consumption in coastal provinces has decreased by 12.40 thousand tons/day, a decline of 6.67% week-on-week [12] Inventory Situation - As of May 9, coal inventory at Qinhuangdao port has increased to 753 thousand tons, up 8.0% week-on-week [5] - The inventory of coking coal at production sites has risen to 390.43 thousand tons, an increase of 8.9% week-on-week [5] Company Performance - The coal sector has shown a 1.47% increase this week, underperforming the broader market [15] - Key companies to focus on include China Shenhua, Shaanxi Coal, and China Coal Energy, which are noted for stable operations and solid performance [13]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688570 证券简称：天玛智控 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、准确性和完整性依法承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一) 主要会计数据和财务指标 单位：元 币种：人民币 注:"本报告期"指本季度初至本季度末3个月期间，下同。 (二) 非经常性损益项目和金额 √适用 □不适用 单位:元 币种:人民币 对公司将《公开发行证券的公司信息披露解释性公告第1号——非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号——非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 □适用 √不适用 二、 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥331,452,771.41, a decrease of 29.33% compared to ¥468,995,234.90 in the same period last year[4] - Net profit attributable to shareholders was ¥53,743,357.95, down 46.50% from ¥100,449,681.46 year-on-year[4] - Basic earnings per share decreased by 47.83% to ¥0.12 from ¥0.23 in the previous year[4] - Total operating revenue for Q1 2025 was ¥331,452,771.41, a decrease of 29.3% compared to ¥468,995,234.90 in Q1 2024[18] - Net profit for Q1 2025 was ¥53,743,357.95, a decline of 46.5% from ¥100,449,681.46 in Q1 2024[19] - The total comprehensive income attributable to the parent company for Q1 2025 was CNY 53,743,357.95, a decrease from CNY 100,449,681.46 in Q1 2024[20] - Basic and diluted earnings per share for Q1 2025 were both CNY 0.12, down from CNY 0.23 in Q1 2024[20] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥109,369,030.36, compared to -¥97,190,225.59 in the previous year[4] - Cash inflows from operating activities in Q1 2025 totaled CNY 202,835,056.04, compared to CNY 269,080,241.90 in Q1 2024, reflecting a decline of approximately 24.6%[20] - Cash outflows from operating activities in Q1 2025 were CNY 312,204,086.40, down from CNY 366,270,467.49 in Q1 2024[20] - The net cash flow from operating activities for Q1 2025 was -CNY 109,369,030.36, compared to -CNY 97,190,225.59 in Q1 2024[20] - Cash outflows from investing activities in Q1 2025 amounted to CNY 207,326,878.25, significantly higher than CNY 6,177,978.05 in Q1 2024[21] - The net cash flow from investing activities for Q1 2025 was -CNY 207,325,813.25, compared to -CNY 6,171,989.25 in Q1 2024[21] - Cash outflows from financing activities in Q1 2025 were CNY 215,000.00, down from CNY 532,283.36 in Q1 2024[21] - The ending cash and cash equivalents balance for Q1 2025 was CNY 2,296,844,392.63, a decrease from CNY 2,712,606,102.07 in Q1 2024[21] - The company reported a net decrease in cash and cash equivalents of -CNY 316,909,843.61 for Q1 2025, compared to -CNY 103,894,498.20 in Q1 2024[21] Research and Development - Research and development expenses totaled ¥21,161,138.79, a reduction of 38.15% compared to ¥34,216,171.60 in the same period last year[5] - Research and development expenses for Q1 2025 were ¥21,161,138.79, down 38.2% from ¥34,216,171.60 in Q1 2024[18] - The company has not reported any new product launches or technological advancements during the conference call[12] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,736[10] - The largest shareholder, Tiandi Technology Co., Ltd., holds 56.54% of the shares, totaling 244,800,000 shares[10] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,821,881,248.79, a slight decrease of 0.13% from ¥5,829,174,422.68 at the end of the previous year[5] - The total current assets as of March 31, 2025, amounted to RMB 5,047,065,513.12, a decrease from RMB 5,260,142,488.97 as of December 31, 2024[13] - Cash and cash equivalents decreased to RMB 2,596,844,392.63 from RMB 2,913,754,236.24[13] - Accounts receivable increased to RMB 1,400,765,175.38 from RMB 1,374,716,803.49, indicating a growth of approximately 1.3%[14] - Inventory increased to RMB 617,715,450.40 from RMB 533,351,522.42, reflecting a growth of approximately 15.8%[14] - The total liabilities decreased to ¥1,422,967,376.89 in the latest report from ¥1,484,695,508.64 in the previous period[16] - Total equity attributable to shareholders increased to ¥4,398,913,871.90 from ¥4,344,478,914.04[16] - The total non-current liabilities decreased to ¥48,148,663.66 from ¥64,375,630.92[16] - The total non-current assets increased to ¥774,815,735.67 from ¥569,031,933.71, showing a substantial growth[14] Business Outlook - The company experienced a slowdown in demand for intelligent systems, impacting overall business performance[8] - The company did not provide specific future guidance or market expansion strategies during the call[12] - The company plans to focus on market expansion and new product development in the upcoming quarters[16]

| 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.1200 | 0.2300 | -47.83 | 0.2600 | | 每股净资产（元） | 10.16 | 9.88 | 2.83 | 4.73 | | 每股公积金(元) | 6.44 | 6.44 | 0 | 1.99 | | 每股未分配利润(元) | 2.35 | 2.15 | 9.3 | 1.50 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 3.31 | 4.69 | -29.42 | 4.68 | | 净利润(亿元) | 0.54 | 1 | -46 | 0.93 | | 净资产收益率(%) | 1.23 | 2.38 | -48.32 | 5.67 | 一、主要会计数据和财务指标 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 | 持有数量(万股) 名称 | | 占总股本比 | 增减情况 | | --- | --- | - ...