近一年广州天马集团天马摩托车有限公司摩托车产销情况统计图 数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 相关报告：智研咨询发布的《2025-2031年中国摩托车行业市场专项调研及投资前景研究报告》 根据中国汽车工业(摩托车)产销快讯数据显示：2025年7月广州天马集团天马摩托车有限公司摩托车产 量为15155辆，同比下降31.52%，销量为31993辆，同比增长68.46%，产销率为211.11%，清仓16838 辆。 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（ ...

人民财讯9月10日电，深天马A(000050)9月10日接受机构调研时表示，展望市场趋势，车载显示产品需 求预计将持续呈现屏幕数量增长和屏幕规格升级的趋势，特别是国内新能源市场较快速度增长、LTPS 技术渗透持续提升、车载显示屏中大尺寸化趋势等因素有望继续带来良好的下游需求，公司将把握机 遇，在汽车电子、新能源等车载业务增长点上持续发力，推动公司AMOLED车载产品量产交付，打造 车载业务全面竞争力，强化行业领先地位。 ...

车型上市，市场份额持续提升。此外，得益于车载屏幕规格升级需求驱动， LTPS 车载业务继续高速增长，上半年出货量同比增长超 76%，共同带动公司 车载业务的高质量发展。 证券代码：000050 证券简称：深天马 A 天马微电子股份有限公司 投资者关系活动记录表 编号：2025-012 投资者关系活动类别 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他（请文字说明其他活动内容） 活动参与人员 上市公司参与人员：陈丹、谭蒙 外部参与人员：招商证券、中信证券、东方证券、东方财富证券、兴业证券、 中天国富证券、宁波银行、邮储银行、图灵资管、顶呱呱科技、茂盈汇科技 时间 2025 年 9 月 10 日（周三）10：00-11：00 地点 天马总部大厦 16 层会议室 形式 现场调研 交流内容及具体问答记录 1、 公司车载业务表现不错，请介绍发展情况及后续展望。 答：公司将车载显示作为战略核心业务之一，凭借在车载显示领域 30 年的深耕细作，拥有了从车载研发、制造、质量、营销、供应链管理等各方 面的专业团队，打造了具有强竞争实力的车载专业体系能力。公司是国内最 早进入全 ...

9月8日，深天马A盘中下跌2.00%，截至10:21，报9.78元/股，成交1.56亿元，换手率0.64%，总市值 240.37亿元。 资金流向方面，主力资金净流出1157.97万元，特大单买入0.00元，占比0.00%，卖出824.05万元，占比 5.29%；大单买入3897.12万元，占比25.03%，卖出4231.04万元，占比27.17%。 深天马A今年以来股价涨8.31%，近5个交易日跌2.78%，近20日涨0.51%，近60日涨21.95%。 资料显示，天马微电子股份有限公司位于广东省深圳市龙华区民治街道北站社区天马总部大厦，成立日 期1983年11月8日，上市日期1995年3月15日，公司主营业务涉及以智能手机、平板电脑为代表的移动智 能终端显示核心业务、车载显示关键业务和以医疗、工控为代表的增值业务。主营业务收入构成为：显 示屏及显示模组99.05%，其他0.95%。 深天马A所属申万行业为：电子-光学光电子-面板。所属概念板块包括：MLED、虚拟现实、折叠屏、 柔性电子、OLED等。 截至8月29日，深天马A股东户数7.77万，较上期增加13.76%；人均流通股31632股，较上期减少 12 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [6] Core Views - The company's revenue in Q2 2025 reached 9.163 billion yuan, showing a year-on-year increase of 12.47% and a quarter-on-quarter increase of 10.25%. The net profit attributable to the parent company after deducting non-recurring items was a loss of 114 million yuan, indicating a reduction in losses compared to previous periods. The gross margin improved by 3.8 percentage points year-on-year to 16.18% [1] - The company is actively advancing the construction of new production lines, which is expected to lay a foundation for sustained growth in the future. The TM20 production line is ramping up capacity and customer project introductions, with significant increases in the number of car and IT module products [2] - The company's non-consumer display business, including automotive and professional displays, continues to strengthen its competitiveness, with revenue from this segment accounting for over 50% and growing by over 26%. The company maintains a leading position in automotive display shipments globally [3] Summary by Sections Revenue and Profitability - In H1 2025, the company's revenue from automotive displays grew by approximately 27% year-on-year, with LTPS automotive display shipments increasing by over 76% year-on-year, ranking second globally and first domestically [3] - The report projects the company's net profit attributable to the parent company for 2025 to be 408 million yuan, with a significant reduction in previous estimates [3] Valuation and Forecast - The report provides a forecast for the company's revenue and net profit from 2023 to 2027, with expected revenues of 32.271 billion yuan in 2023, growing to 42.712 billion yuan by 2027. The net profit is projected to turn positive in 2025, reaching 408 million yuan [5][10] - The price-to-earnings (P/E) ratio is expected to decrease from 59x in 2025 to 24x in 2027, indicating a potential improvement in valuation as the company returns to profitability [3][12]

2025年09月05日，深天马A2025年半年度业绩网上说明会在全景网顺利举行。出席本次业绩说明会的人 员有董事长成为、董事、总经理王磊、独立董事童一杏、总会计师卢彦宇、董事会秘书陈冰峡。 根据全景数据后台统计，在今天的交流过程中，来自全国多个省、市地区的投资者共向上市公司提问29 个，公司嘉宾共回答问题29个，答复率100.00%，充分实现了上市公司与投资者的良好互动。 回答：您好，感谢您的提问。公司持续聚焦主业内生增长，同时将跟进行业市场、技术、产业链上下游 变化趋势，围绕公司显示主业发展需要寻找合适的投资标的，适时开展并购重组，不断强化在产业链关 键环节的竞争实力。如有相关计划，公司将按规则要求及时履行披露义务。 4、问：看到2025年半年度报告中所有者权益有显著增长，尤其是综合收益总额增加了1亿多元。请问这 主要得益于哪些业务板块的增长?是否有特定的市场趋势或者技术创新推动了这一增长? 回答：您好，感谢您的提问。公司2025年上半年所有者权益有所提升，主要系2025年上半年实现归母净 利润同比增长和少数股东权益增加。其中，公司上半年车载、手机、IT、穿戴等主要显示业务健康发 展，盈利能力均得到进一步增 ...

（编辑 王雪儿） 证券日报网讯 深天马A9月5日在互动平台回答投资者提问时表示，公司与全球数千家供应商建立了友好 的合作关系，积累了优质的供应商资源，保持并寻求长期的深度协同，也一直支持并鼓励国内供应商的 协同发展，推进国产化进程。 ...

证券日报网讯深天马A9月5日在互动平台回答投资者提问时表示，截至2025年8月29日，公司股东户数 为77695户(含信用账户)。 ...

Company Overview - Deep Tianma A's stock price increased by 2.19% on September 5, reaching 9.78 CNY per share, with a total market capitalization of 24.037 billion CNY [1] - The company has seen an 8.31% increase in stock price year-to-date, with a 4.02% decline over the last five trading days, a 4.26% increase over the last 20 days, and a 23.64% increase over the last 60 days [2] - The company specializes in display technologies for mobile smart terminals, automotive displays, and value-added services in medical and industrial control sectors, with 99.05% of its revenue coming from display screens and modules [2] Financial Performance - For the first half of 2025, Deep Tianma A reported revenue of 17.475 billion CNY, a year-on-year increase of 9.93%, and a net profit attributable to shareholders of 206 million CNY, reflecting a significant year-on-year growth of 142.07% [2] - The company has distributed a total of 1.429 billion CNY in dividends since its listing, with no dividends paid in the last three years [3] Shareholder Information - As of August 20, 2025, the number of shareholders for Deep Tianma A was 68,300, an increase of 1.12% from the previous period, with an average of 35,984 circulating shares per shareholder, a decrease of 1.11% [2] - As of June 30, 2025, Hong Kong Central Clearing Limited was the seventh largest circulating shareholder, holding 54.9572 million shares, a decrease of 5.8191 million shares from the previous period [3]

Core Insights - The global display panel revenue for the first half of 2025 is approximately $56.2 billion, showing a year-on-year decline of 4.2% but a quarter-on-quarter increase of 5.8% [1] - Chinese mainland panel manufacturers achieved a revenue of about $29.3 billion, capturing 52.1% of the global market share, marking a year-on-year increase of 3.3 percentage points [1] - Korean panel manufacturers' revenue share decreased to 30%, down 3.2 percentage points year-on-year, while Taiwanese manufacturers increased their share to 13.2%, up 0.6 percentage points [1] Regional Revenue Changes - In the first half of 2025, Chinese mainland panel manufacturers saw a year-on-year revenue growth of approximately 7%, while Taiwanese manufacturers grew by 4.4% [2] - Korean panel manufacturers experienced a significant decline of 9.5%, and Japanese manufacturers faced a 16.7% drop in revenue [2] - Compared to 2020, the global revenue share of Chinese mainland panel manufacturers increased by 18.6 percentage points, while Taiwanese, Korean, and Japanese manufacturers saw declines of 2.3, 10.3, and approximately 6 percentage points, respectively [2] Company Rankings - BOE maintained its position as the world's top panel manufacturer in the first half of 2025, with TCL's CSOT showing significant revenue growth, narrowing the gap with Samsung Display and LG Display [4] - AUO, Innolux, Tianma, and HKC are in the third tier, each exceeding $2 billion in revenue [4] Profitability Analysis - In the first half of 2025, seven publicly listed panel companies achieved profitability, an increase from the previous year, with AUO and Tianma joining the profitable ranks [7] - Samsung Display remains the leader in operating profit, but its advantage has significantly decreased; TCL and BOE are closely following, with operating profits around $600 million [7] - The largest operating losses were reported by Visionox, JDI, and EDO, each exceeding $100 million, while LG Display showed significant improvement in reducing its losses [7] Industry Trends - The display industry is transitioning from "scale expansion" to "value reconstruction," with Chinese mainland manufacturers leveraging capacity advantages and technological breakthroughs to enhance competitiveness [9] - Korean manufacturers face challenges in maintaining high-end positions and controlling costs [9] - The second half of 2025 is expected to see structural growth in the Chinese mainland display panel market, driven by the increasing demand for large-sized displays and high-value products like Mini LED and OLED [9]