本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 证券代码：000050 证券简称：深天马 A 公告编号：2025-069 天马微电子股份有限公司 2025 年第四次临时股东大会决议公告 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、现场会议召开日期和时间：2025年9月16日（星期二）14:50 2、网络投票时间：2025年9月16日。 特别提示： 1、本次股东大会未出现否决议案的情形。 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为： 2025年9月16日9:15－9:25、9:30－11:30、13:00－15:00； 通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年9月16日9:15－15:00。 3、股权登记日：2025年9月9日（星期二） 4、召开地点：深圳市龙华区民治街道北站社区天马总部大厦16 楼会议室 5、召开方式：现场投票与网络投票表决相结合 1、股东出席的总体情况： 出席本次股东大会的股东及股东授权委托代表人数共计323人， 代表股份1,536,887,908股 ...

证券代码：000050 证券简称：深天马A 公告编号：2025-070 天马微电子股份有限公司 第十一届董事会第一次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 天马微电子股份有限公司第十一届董事会第一次会议通知于 2025年9月9日（星期二）以书面或邮件方式发出，会议于2025年9月 16日（星期二）以现场和通讯表决的方式召开。公司董事会成员12 人，实际行使表决权的董事12人，分别为：成为先生、李培寅先生、 邓江湖先生、郭高航先生、王磊先生、谢洁平女士、邵青先生、马振 锋先生、梁新清先生、耿怡女士、张红先生、童一杏女士。本次会议 的召集、召开和表决程序符合有关法律、法规和《公司章程》的规定， 会议形成的决议合法有效。 二、董事会会议审议情况 （一）审议通过《关于选举公司第十一届董事会董事长的议案》 表决情况为：12票同意，0票反对，0票弃权 董事会同意选举成为先生为公司董事长（简历附后），任期至第 十一届董事会届满。 （二）审议通过《关于选举公司第十一届董事会专门委员会委员 及主席的议案》 第 1 页 共 14 页 ...

Group 1 - Zhejiang Tianma Bearing Group Co., Ltd. was fined 1.1 million yuan by Fuzhou Emergency Management Bureau due to safety production accident liability violations [1] - The company failed to ensure proper education and management of freight vehicle drivers and did not take measures to identify and eliminate safety hazards related to freight vehicles [1][2] - The incident involved a heavy-duty truck that was improperly loaded and transported oversized items without valid permits, leading to a significant safety accident on May 31, 2024 [2] Group 2 - Zhejiang Tianma Bearing Group is a leading enterprise in China's bearing industry and serves as the chairman unit of the industry association [4] - The company focuses on developing high-end precision bearing products with independent intellectual property rights and has a comprehensive product range covering over 9,000 types [4][5] - Its products are widely used in major industrial sectors such as wind power generation, rail transportation, and new energy vehicles, contributing significantly to the localization of key equipment bearings in China [5]

Core Viewpoint - The company reported that as of September 10, 2025, the number of shareholders, including margin accounts, is 75,594 [2] Summary by Category - **Shareholder Information** - As of September 10, 2025, the total number of shareholders is 75,594, which includes credit accounts [2]

Group 1: Industry Overview - The motorcycle industry in China is experiencing fluctuations in production and sales, with specific data from Guangzhou Tianma Group indicating a significant decline in production but a notable increase in sales for July 2025 [1] - The production volume for Tianma Motorcycle Co., Ltd. was reported at 15,155 units, representing a year-on-year decrease of 31.52%, while sales reached 31,993 units, showing a year-on-year increase of 68.46% [1] - The production-sales ratio for Tianma Motorcycle was recorded at 211.11%, indicating a strong sales performance relative to production [1] Group 2: Company Insights - Companies mentioned in the report include Qianjiang Motorcycle, Xinlong Health, Zhenghe Industrial, Jiuqi Co., Linhai Co., Shanghai Phoenix, Zhonglu Co., Lifan Technology, Chuncheng Power, Aima Technology, Longxin General, Yong'an Travel, New Day Co., Lvtong Technology, Taotao Vehicle, and Huayang Racing [1] - The report by Zhiyan Consulting provides insights into the market research and investment prospects for the motorcycle industry in China from 2025 to 2031 [1]

Core Viewpoint - The company anticipates a continuous growth in demand for automotive display products, driven by an increase in screen quantity and specifications, particularly in the rapidly growing domestic new energy market [1] Group 1: Market Trends - The demand for automotive display products is expected to continue growing due to factors such as the rapid growth of the domestic new energy market, ongoing penetration of LTPS technology, and the trend towards larger display sizes in automotive screens [1] Group 2: Company Strategy - The company aims to seize opportunities in automotive electronics and new energy sectors, focusing on the growth points of its automotive business [1] - The company plans to promote the mass production and delivery of its AMOLED automotive products to enhance its overall competitiveness in the automotive sector [1] - The company seeks to strengthen its industry-leading position through these initiatives [1]

Group 1: Automotive Display Business - The company has maintained the global leading position in automotive display shipments for five consecutive years since 2020, achieving the highest shipment volume of automotive TFT-LCD and automotive instrument displays globally [1] - In the first half of this year, the automotive display business revenue grew approximately 27% year-on-year, with sales to international leading automakers increasing over 70% [1][2] - The LTPS automotive display segment saw a shipment increase of over 76% year-on-year, driven by the demand for upgraded screen specifications [2] Group 2: Automotive Electronics - The automotive electronics business began bulk deliveries to international leading clients in 2023, with sales growth exceeding 70% year-on-year in the first half of 2025 [3] - This segment is expected to enter a rapid growth phase alongside the development of client projects, becoming a new growth engine for the company's automotive display business [3] Group 3: Micro-LED Development - The Micro-LED production line was lit in 2024, achieving small batch shipments of standardized display modules in 2025, marking a significant advancement in the company's Micro-LED capabilities [4] Group 4: AMOLED Mobile Business - In the first half of 2025, the flexible AMOLED mobile business saw profitability improve by over 50% year-on-year, supported by enhanced production capacity and product structure optimization [5][6] - The TM18 production line's output increased, focusing on high-specification products and covering flagship models across major domestic brands [6] Group 5: Foldable Screen Technology - The company has developed multiple foldable screen technologies and successfully mass-produced various foldable products, including left-right and up-down folding screens [7] Group 6: Chip Business and M&A Plans - The company focuses on display technology and does not engage in semiconductor chip development, but is exploring non-display applications based on panel technology [8] - The company adheres to a "2+1+N" strategy, seeking suitable investment targets for potential mergers and acquisitions to strengthen its competitive position in key areas of the industry chain [9] Group 7: Depreciation and Share Buyback - The company anticipates that depreciation in 2025 will not differ significantly from 2024, remaining at a peak level, with a gradual decrease expected in the absence of new line investments [11] - The current share buyback is aimed at canceling the repurchased shares and reducing registered capital, with the process progressing steadily [11]

Company Overview - Deep Tianma A, established on November 8, 1983, and listed on March 15, 1995, is located in Longhua District, Shenzhen, Guangdong Province. The company primarily focuses on mobile smart terminal displays, automotive displays, and value-added services in medical and industrial control sectors [1][2]. Financial Performance - For the first half of 2025, Deep Tianma A reported revenue of 17.475 billion yuan, representing a year-on-year growth of 9.93%. The net profit attributable to shareholders was 206 million yuan, showing a significant increase of 142.07% year-on-year [2]. - Cumulatively, the company has distributed 1.429 billion yuan in dividends since its listing, with no dividends paid in the last three years [3]. Stock Performance - As of September 8, Deep Tianma A's stock price was 9.78 yuan per share, with a market capitalization of 24.037 billion yuan. The stock has increased by 8.31% year-to-date, but has seen a decline of 2.78% over the last five trading days [1]. - The stock's trading volume on September 8 was 156 million yuan, with a turnover rate of 0.64% [1]. Shareholder Information - As of August 29, the number of shareholders for Deep Tianma A reached 77,700, an increase of 13.76% from the previous period. The average number of circulating shares per shareholder decreased by 12.09% to 31,632 shares [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]. Industry Context - Deep Tianma A operates within the electronic industry, specifically in the optical optoelectronics and panel sectors. The company is involved in various concept sectors, including MLED, virtual reality, foldable screens, flexible electronics, and OLED [1].

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]

Core Viewpoint - The company emphasizes its commitment to enhancing intrinsic value and sustainable development, despite the stock price being below net asset value, and outlines various measures taken to boost investor confidence and market value [2][3][7][18]. Financial Performance - In the first half of 2025, the company achieved a revenue growth of 9.93% year-on-year and a net profit attributable to shareholders increased by 142%, marking a turnaround from losses [2][3][9][16]. - The company's operating cash flow significantly improved, driven by healthy core business development and ongoing cost control efforts [15]. Shareholder Engagement - The company has implemented a market value management system, incorporating it into performance assessments, and has launched initiatives such as a valuation enhancement plan and share repurchase announcements to protect shareholder interests [2][7][18]. - The company has maintained a 100% response rate to investor inquiries during its performance briefing, indicating a strong commitment to investor relations [1]. Strategic Initiatives - The company is focused on internal growth and is exploring suitable acquisition targets to strengthen its competitive position in the display industry [4]. - The company has made significant investments in R&D, totaling 1.57 billion yuan, primarily in flexible AMOLED and LCD technologies, which are expected to enhance its market competitiveness [13][20]. Market Position and Innovation - The company has established itself as a leader in the small and medium-sized display sector, with a strong focus on innovation and technology development, including advancements in Micro-LED technology [8][28]. - The company continues to expand its product offerings in various sectors, including automotive displays, IT, and health monitoring, while maintaining a leading market share in certain segments [22][23]. ESG Commitment - The company has been recognized for its efforts in environmental, social, and governance (ESG) practices, having received awards for its sustainable development initiatives and commitment to carbon neutrality [6].