2025 年半年度报告 深圳市天健(集团)股份有限公司 2025 年半年度报告全文 深圳市天健（集团）股份有限公司 （公告编号：2025-57） 2025 年 8 月 23 日 1 深圳市天健(集团)股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人郑晓生、主管会计工作负责人何云武及会计机构负责人（会 计主管人员）马章根声明：保证本半年度报告中财务报告的真实、准确、完 整。 所有董事均已出席了审议本次半年报的董事会会议。 公司已在本报告中详细描述可能存在的相关风险及应对措施，敬请查阅 第三节 管理层讨论与分析中有关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 深圳市天健(集团)股份有限公司 2025 年半年度报告全文 备查文件目录 （一）载有公司负责人、主管会计工作负责人、会计机构负责人签名并盖章的财务报表。 （二）报告期内公开披露过的所有公司文件的正本及公告原稿。 （三）在其他证券市场公布的半年度报告。 ...

南都·湾财社记者从深圳市住建局获悉，深圳市天健建工有限公司（简称"天健建工"）及其人员王宇嵩近日被大鹏新区住房和建设局处红色警示1年，警示时 间段为2025年8月18日至2026年8月18日。警示事由为2025年8月18日，该项目发生一起3人死亡事故。 因安全生产被红色警示的相关单位和人员，红色警示期内列入信用最低等级，纳入全市失信联合惩戒体系，在红色警示期届满后1年内不予升至信用最高等 级。 南都·湾财社记者通过天眼查APP了解到，天健建工目前有11个在管工程项目，其中位于大鹏新区的仅有一个项目，项目名称为"特区建工集团大鹏新区优质 产业空间试点项目"，建设单位为深圳市大鹏新区特区建工产业空间发展有限公司。（具体以官方通报为准。） 截至2024年12月末，天健集团总资产639.03亿元，净资产150.25亿元。2024年实现营业收入213.57亿元，利润总额9.84亿元，净利润5.94亿元。2024年，天健 集团上榜《财富》中国500强第490位，位列广东企业500强第112位、深圳企业500强第59位。 （文章来源：南方都市报） 据深圳住建局发布的《关于严厉惩处建设工程安全生产违法违规行为的若干措施（试行 ...

金融界消息 截至2025年8月19日收盘，天健集团（000090）报收于3.61元，上涨0.28%，换手率1.57%， 成交量29.43万手，成交金额1.06亿元。 资金流向方面，今日主力资金净流出1602.85万元，占比成交额15.1%。其中，超大单净流出1800.97万 元、占成交额16.97%，大单净流入198.12万元、占成交额1.87%，中单净流出流入1213.41万元、占成交 额11.43%，小单净流入389.44万元、占成交额3.67%。 天健集团最新一期业绩显示，截至2025一季报，公司营业总收入28.85亿元、同比增长4.86%，归属净利 润4033.90万元，同比减少58.57%，扣非净利润3728.61万元，同比减少59.34%，流动比率1.456、速动比 率0.796、资产负债率75.70%。 天眼查商业履历信息显示，深圳市天健(集团)股份有限公司，成立于1993年，位于深圳市，是一家以从 事商务服务业为主的企业。企业注册资本186854.5434万人民币，实缴资本186854.5434万人民币。公司 法定代表人为郑晓生。 通过天眼查大数据分析，深圳市天健(集团)股份有限公司共对外投资 ...

深圳市天健（集团）股份有限公司董事会 2025 年 7 月 30 日 证券代码：000090 证券简称：天健集团 公告编号：2025-54 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。 根据《深圳证券交易所上市公司自律监管指引第 3 号—行业信 息披露》的规定，现将公司 2025 年第二季度的建筑业经营情况公 布如下，供投资者参考。 深圳市天健（集团）股份有限公司 2025 年第二季度建筑业经营情况简报 以上数据仅为阶段性统计，最终以定期报告披露的数据为准。 特此公告。 1 一、总体情况 序 号 业务模式 2025 年 4-6 月 新签订单 截至 2025 年 6 月 30 日 累计已签约未完工订单 剩余金额 已中标未签约订单 数量 （个） 金额 （万元） 数量 （个） 金额 （万元） 数量 （个） 金额 （万元） 1 施工承包 20 71,295.33 183 1,737,666.95 14 175,429.08 2 工程总承包 1 1,726.67 23 365,187.08 0 0.00 3 道路日常养护 5 7,450.07 43 64,737.38 ...

Investment Rating - The report assigns an "Accumulate" rating for the real estate industry [5]. Core Insights - The overall market in Q2 2025 shows weak transaction volumes, stable prices lacking trends, and increasing inventory with heightened de-stocking pressure [3]. - Only 19% of the 27 cities analyzed exhibit signs of market bottoming, indicating a general trend of "volume contraction, price stagnation, and inventory pressure" [12]. - The new housing market is experiencing a downturn, with first-tier cities showing a significant slowdown in sales growth, while the second-hand housing market demonstrates relative resilience but with increasing regional disparities [12][13]. Summary by Sections 1. Transaction Decline and Lengthening De-stocking - The report highlights that the real estate cycle varies significantly across cities due to localized policies and differing reliance on land finance [8]. - A comprehensive scoring model based on seven core indicators is used to assess the real estate cycle of each city, categorizing them into four stages: bottoming, rising, topping, and declining [8][9]. 2. Price Trends: Q2 New and Second-hand Housing Prices Decline - In Q2 2025, new housing prices experienced a slight decline after a period of stabilization, with 85% of cities unable to sustain price increases for more than two months [17]. - Second-hand housing prices also fell, with 78% of cities still in a downward trend by June [17][19]. 3. Transaction Volume: Weak Recovery and Increased Volatility - First-tier cities maintained an upward trend in new housing transactions until June, where a decline of 12% was noted [22]. - Second-tier cities saw a 15% year-on-year drop in new housing transactions in Q2, reflecting greater inventory pressure and declining buyer confidence [22][27]. 4. Demand Entering a Tug-of-War Phase Leading to Rising Inventory Cycles - The de-stocking cycle for first-tier cities increased to 20 months by June 2025, indicating intensified market supply-demand conflicts [29]. - Second-tier cities faced even longer de-stocking cycles, reaching 23 months, highlighting structural issues such as declining population attraction and excess land supply [29]. 5. Company Profit Forecasts - The report includes profit forecasts for key companies, with several companies rated as "Accumulate" based on their projected earnings per share (EPS) and price-to-earnings (PE) ratios [32].

Core Viewpoint - The investigation report reveals that a fatal accident occurred at the A006-0941 construction site in Bao'an District, Shenzhen, resulting in one death and direct economic losses of approximately 1.75 million yuan due to inadequate safety management and violation of construction protocols by workers [1][3]. Incident Overview - The accident involved a worker from Jiangsu Fengyi Elevator Engineering Co., Ltd., who fell into a 151-meter deep elevator shaft during installation work [2][3]. - The construction project is managed by Shenzhen Tianjian (Group) Co., Ltd., with multiple companies involved in various capacities, including elevator installation and supervision [2][3]. Responsibility Assessment - The investigation identified multiple parties responsible for the accident, including the project manager and safety personnel from Fengyi Elevator and other involved companies, due to their failure to enforce safety protocols [4][5]. - The direct cause of the accident was determined to be the improper handling of the elevator's steel wire rope, leading to the worker's fall [4][5]. - Shenzhen Municipal Group, the general contractor, was fined 30,000 yuan for its inadequate safety management and oversight of the elevator installation process [5].

[I. Overview of Current Period Performance Forecast](index=1&type=section&id=I.%20Overview%20of%20Current%20Period%20Performance%20Forecast) The company forecasts a substantial year-on-year decline in 2025 first-half net profit, with attributable net profit decreasing by 80.56% to 86.63% Key Financial Performance Indicators | Item | Current Reporting Period (Jan 1 - Jun 30, 2025) | Prior Year Period | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | Profit: 33 million - 48 million yuan | Profit: 246.8668 million yuan | | Year-on-Year Change | Decrease: 80.56% - 86.63% | - | | **Net Profit Excluding Non-Recurring Gains and Losses** | Profit: 16.43 million - 31.43 million yuan | Profit: 222.8435 million yuan | | Year-on-Year Change | Decrease: 85.9% - 92.63% | - | | **Basic Earnings Per Share** | Profit: 0.0028 - 0.0108 yuan/share | Profit: 0.1172 yuan/share | [II. Communication with Accounting Firm](index=1&type=section&id=II.%20Communication%20with%20Accounting%20Firm) The company clarifies that the financial data in this performance forecast remains unaudited and subject to final confirmation - The financial data in this performance forecast has not been audited by the accounting firm[3](index=3&type=chunk) [III. Analysis of Performance Change Reasons](index=1&type=section&id=III.%20Analysis%20of%20Performance%20Change%20Reasons) The significant performance decline is primarily due to reduced revenue and profit in construction and a substantial decrease in high-margin real estate project recognition - The construction business experienced a decline in revenue and profit compared to the prior year due to reduced market investment, decreased market expansion, and fewer project settlements[5](index=5&type=chunk) - High-margin project recognition in the real estate business significantly decreased year-on-year, negatively impacting the company's overall profit[5](index=5&type=chunk) [IV. Risk Warning](index=2&type=section&id=IV.%20Risk%20Warning) The company warns investors that this performance forecast is preliminary, with final data subject to the 2025 semi-annual report, advising caution regarding investment risks - This performance forecast represents the company's preliminary estimates, with specific data subject to disclosure in the 2025 semi-annual report[6](index=6&type=chunk) - The company urges investors to make cautious decisions and be mindful of investment risks[6](index=6&type=chunk)

Group 1 - Shenzhen Municipal Group was fined RMB 30,000 due to failure in effectively coordinating and managing safety responsibilities, leading to a fatal accident on a construction site [1][2] - The accident occurred on April 6, 2025, at the "Hejunfu" project site in Bao'an District, resulting in one worker's death [1] - The investigation concluded that Shenzhen Municipal Group and its project manager bore significant management responsibility for the accident, failing to implement safety checks and oversight as required by law [1][2] Group 2 - Shenzhen Municipal Group, established in 1983, is a core enterprise of the Special Zone Construction Group and fully owned by Tianjian Group, with a registered capital of RMB 2.008 billion [2] - The company is recognized as a national high-tech enterprise and is the only municipal public engineering construction general contractor with a special grade in Shenzhen [2] - Shenzhen Municipal Group operates across various sectors, including municipal engineering, highway engineering, and urban rail transit, with over 1,000 technical professionals and more than 390 registered builders [2]

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors [2][36]. Core Insights - The report highlights a significant decline in both new and second-hand housing transactions, with new home sales in 34 key cities dropping by 50.1% week-on-week [2][3]. - The report anticipates further policy support to stabilize the real estate market, with potential measures including mortgage rate cuts and increased supply of quality housing [2][36]. Industry Data Summary New Home Transactions - New home sales in 34 key cities totaled 1.983 million square meters, a week-on-week decrease of 50.1% [2][3]. - Year-on-year, new home sales in July decreased by 16.0%, with first and second-tier cities down by 15.4% and third and fourth-tier cities down by 23.4% [4][11]. Second-Hand Home Transactions - Second-hand home sales in 13 key cities reached 1.078 million square meters, a week-on-week decline of 6.6% [11]. - Year-to-date, second-hand home sales have increased by 8.8% compared to the previous year [11]. Inventory and Supply - In 15 cities, 880,000 square meters of new homes were launched, with a sales-to-launch ratio of 0.71, indicating ongoing inventory reduction [20][21]. - The average months of inventory for new homes is 19.6 months, reflecting a slight increase [20]. Policy and News Tracking - The National Development and Reform Commission is increasing investment in key areas of new urbanization, indicating a proactive approach to stimulate the housing market [30][31]. - Local governments are implementing targeted policies, such as restrictions on the registration of small property rights houses in Guangdong and new housing subsidy programs in Wuxi [30][31]. Company Dynamics - Several real estate companies are actively engaging in financing and capital market operations, with notable activities including Shenzhen Tianjian Group's issuance of medium-term notes worth 650 million yuan [36]. - Companies like Beike-W are also engaging in share buybacks, indicating confidence in their market position [36]. Sector Performance - The real estate sector outperformed the market, with the SW Real Estate Index rising by 6.12% compared to a 0.82% increase in the CSI 300 Index [2][36]. - The average price-to-earnings ratios for major A-share real estate companies for 2025 and 2026 are projected at 14.7 and 13.1 times, respectively [2].

本期中期票据发行情况的相关文件详见中国货币网 （ www.chinamoney.com.cn ） 和 上 海 清 算 所 网 站 （www.shclearing.com）。 特此公告。 根据公司资金计划安排和银行间市场情况，公司于 2025 年 7 月 7 日发行了 2025 年度第二期中期票据。发行情况如下表： | 债券名称 | 深圳市天健（集团）股份有限公司 2025 | | | | 年度第二期中期票据 | | | --- | --- | --- | --- | --- | --- | --- | | 债券简称 | 25 天健集 MTN002 | | | | | | | 债券代码 | 期限 102582758 | | | 年 5 | | | | 起息日 | 2025 年 7 月 8 | 日 | 兑付日 | 2030 年 | 7 月 | 8 日 | | 计划发行总额 | 6.5 亿元 实际发行总额 | | | 6.5 亿元 | | | | 发行价 | 100 元/百元面值 | | 发行利率 | 2.33% | | | | 主承销商 | 广发银行股份有限公司、招商银行股份有限公司、宁波银行股份 | | | | ...