深圳市天健（集团）股份有限公司 第九届监事会第十五次会议决议公告 证券代码：000090 证券简称：天健集团 公告编号：2025-69 本公司及监事会全体成员保证信息披露的内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 深圳市天健（集团）股份有限公司（以下简称"公司"） 第九届监事会第十五次会议于 2025 年 10 月 14 日以通讯方 式召开。会议通知于 2025 年 10 月 9 日以电子邮件方式发出。 本次监事会的召集召开符合《中华人民共和国公司法》《公 司章程》《公司监事会议事规则》的有关规定。会议应到监 事 4 名，实到 4 名。根据公司《章程》的规定，会议以通讯 表决方式审议通过了如下议案： 以 4 票同意、0 票弃权、0 票反对的表决结果审议通过 了《关于与特区建工集团签署同业竞争〈委托经营管理协议〉 的议案》 监事会认为，公司关于与特区建工集团签署同业竞争 《委托经营管理协议》的议案，可实现关联方之间的资源共 享、互利共赢，符合公司业务发展及实际经营的需要。交易 的决策程序符合国家有关法律、法规及《公司章程》的规定， 不存在损害公司及股东利益的情形。 1 特此公告。 深圳市天健 ...

证券代码：000090 证券简称：天健集团 公告编号：2025-60 深圳市天健（集团）股份有限公司关于公司 第九届董事会第三十四次会议的决议公告 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 深圳市天健（集团）股份有限公司（以下简称"公司""天健集 团"）第九届董事会第三十四次会议于 2025 年 10 月 14 日以通讯 方式召开，会议通知于 2025 年 10 月 9 日以书面送达或电子邮件 方式发出。会议应参加表决的董事 8 人，实际参加表决的董事 8 人。会议召开符合《公司法》及《公司章程》等有关规定。会议 以通讯表决方式审议通过了如下议案并形成决议。 二、董事会会议审议情况 （一）审议通过了《关于修订<公司章程>的议案》 1 董事会同意修订《董事会议事规则》。《董事会议事规则》 修订对照表及修订后的内容，同日登载于巨潮资讯网。 根据相关规定，该事项尚需提交公司股东会审议。 （表决结果：同意 8 票，反对 0 票，弃权 0 票） （三）审议通过了《关于修订<股东会议事规则>的议案》 董事会同意修订《股东会议事规则》。《股东会 ...

Group 1 - Tianjian Group's stock increased by 5.48%, reaching 3.85 CNY per share, with a trading volume of 229 million CNY and a turnover rate of 3.30%, resulting in a total market capitalization of 7.194 billion CNY [1] - The company, established on December 6, 1993, and listed on July 21, 1999, is primarily engaged in real estate development and operation, construction, and urban services [1] - The revenue composition of Tianjian Group includes construction at 60.73%, real estate sales at 37.52%, other urban services at 11.08%, property leasing at 3.04%, and shantytown renovation project management services at 0.14% [1] Group 2 - Southern Fund's Southern CSI 1000 ETF (512100) is among the top ten circulating shareholders of Tianjian Group, having increased its holdings by 2.3345 million shares to a total of 12.1253 million shares, representing 0.65% of circulating shares [2] - The ETF has generated an estimated floating profit of approximately 2.4251 million CNY as of the report date [2] - The Southern CSI 1000 ETF was established on September 29, 2016, with a current scale of 64.953 billion CNY and year-to-date returns of 27.87%, ranking 2028 out of 4220 in its category [2]

深圳市天健（集团）股份有限公司 2025 年度第三期中期票据发行情况公告 证券代码：000090 证券简称：天健集团 公告编号：2025-59 经"信用中国"网站（www.creditchina.gov.cn）核查，公司不属 1 于失信责任主体。 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。 深圳市天健（集团）股份有限公司董事会 2025 年 9 月 27 日 2 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。 深圳市天健（集团）股份有限公司（以下简称"公司"）发 行不超过 40 亿元（含 40 亿元）的中期票据已获中国银行间市场 交易商协会注册（《接受注册通知书》编号：中市协注〔2025〕 MTN187 号）。内容详见公司对外披露的《关于中期票据获准注 册的公告》（公告编号：2025-9）。 根据公司资金计划安排和银行间市场情况，公司于 2025 年 9 月 25 日发行了 20 ...

Core Viewpoint - Tianjian Group experienced a significant decline in net profit attributable to shareholders due to a decrease in gross margin, despite a year-on-year increase in operating revenue in the first half of the year [1] Group 1: Financial Performance - The company achieved operating revenue growth year-on-year, but the net profit attributable to shareholders saw a substantial decline due to the impact of falling gross margins [1] Group 2: Business Operations - The company demonstrated stable overall business operations, with successful progress in urban services [1] - In the Ganzhou region, the company won bids totaling 1.073 billion yuan, while in the Shanwei region, it secured 494 million yuan in bids [1] - The company also won six energy construction project bids in cities such as Shenzhen, Foshan, and Wuhan [1] Group 3: Urban Services - By the first half of 2025, the company is set to maintain 4,880 roads in Shenzhen, covering a total length of 3,445.05 kilometers and an area of 72.2692 million square meters [1] - The company will also maintain 1,118 bridges in Shenzhen, with a total length of 141.9 kilometers and an area of 2.2368 million square meters [1] - Additionally, the company will manage 45 tunnel sections in Shenzhen, totaling 49 kilometers in length and covering an area of 776,800 square meters [1] Group 4: Real Estate Development - The company has 20 main properties for sale, with an unsold area of 809,200 square meters and unrecognized construction area of 1,159,600 square meters [1] - There are currently seven ongoing projects, with a cumulative construction area of 916,400 square meters [1] Group 5: Future Outlook - The company is optimistic about exploring new growth points through service innovation and maintains a "buy" rating [1]

Core Insights - Tianjian Group reported a slight revenue increase of 6.69% year-on-year, reaching 6.262 billion yuan in the first half of 2025, despite a complex market environment [1] - The company faced significant profit pressure, with net profit attributable to shareholders dropping by 83.22% to 41.42 million yuan, marking the fourth consecutive year of decline [1] - The construction industry, which constitutes 53.98% of total revenue, saw a revenue decrease of 15.94% to 3.803 billion yuan, while the real estate sector experienced a substantial revenue increase of 60.75% to 2.349 billion yuan, providing crucial support to overall revenue growth [1] Revenue Structure - The construction industry generated 3.803 billion yuan in revenue, down 15.94% year-on-year, with a gross margin of 1.61% [2] - The real estate sector achieved 2.349 billion yuan in revenue, up 60.75% year-on-year, with a gross margin of 25.17% [2] - Property leasing revenue was 190.11 million yuan, reflecting a slight decrease of 4.03% year-on-year, with a gross margin of 36.96% [2] Profitability Metrics - The company's net profit margin fell from 3.24% in the first half of 2024 to 0.11% in the first half of 2025, a decline of 3.14 percentage points [3] - Gross margin decreased from 16.62% to 11.08%, a drop of 5.54 percentage points [3] - Return on equity (ROE) was only 0.12%, down 1.83 percentage points compared to the previous year [3] Cash Flow and Financial Stability - The net cash flow from operating activities was -980 million yuan, a decline of 102.90% year-on-year, indicating cash inflows were insufficient to cover outflows [3] - Total assets reached 60.289 billion yuan, with total liabilities of 45.527 billion yuan, resulting in a debt ratio of 75.52%, down 3.61 percentage points from the previous year [3] - Despite improvements in debt management, the high debt ratio indicates ongoing financial risks that need to be monitored [3]

Core Viewpoint - Tianjian Group reported an increase in revenue but a significant decline in profit for the first half of 2025, indicating potential operational challenges despite revenue growth [1][2]. Financial Performance - Total revenue for the first half of 2025 reached 6.262 billion yuan, a year-on-year increase of 6.69% [1]. - Net profit attributable to shareholders was 41.4237 million yuan, down 83.22% year-on-year [1]. - The second quarter saw total revenue of 3.377 billion yuan, up 8.31% year-on-year, but net profit dropped to 108.47 thousand yuan, a decline of 99.27% [1]. - Gross margin decreased to 11.08%, down 33.36% year-on-year, while net margin fell to 0.11%, a drop of 96.75% [1]. - Total expenses (selling, administrative, and financial) amounted to 338 million yuan, accounting for 5.39% of revenue, a decrease of 9.71% year-on-year [1]. Key Financial Ratios - Earnings per share (EPS) fell to 0.01 yuan, down 93.77% year-on-year [1]. - Operating cash flow per share was -0.52 yuan, a decrease of 102.84% year-on-year [1]. - The company's return on invested capital (ROIC) was 2.41%, indicating weak capital returns [2][3]. Changes in Financial Items - Cash and cash equivalents decreased by 16.3% due to payments to suppliers [1]. - Short-term borrowings increased by 369.47% due to higher funding needs [2]. - Revenue growth was attributed to increased real estate revenue recognition [2]. - Operating costs rose by 13.79% due to reduced high-margin project recognition [2]. Debt and Cash Flow Concerns - The company's cash assets are considered healthy, but the cash flow situation requires attention, with cash assets to current liabilities ratio at 40.54% [3]. - The interest-bearing debt ratio reached 26.53%, indicating a significant level of debt [3]. - Accounts receivable to profit ratio stood at 523.28%, raising concerns about collection efficiency [3].

Core Insights - Tianjian Group reported a decrease in shareholder accounts to 41,900 as of June 30, 2025, down by 601 accounts or 1.42% from March 31, 2025 [1] - The average shareholding value per account for Tianjian Group is 158,000 yuan, which is below the industry average of 175,700 yuan for real estate development companies [1] - The stock price of Tianjian Group fell by 5.85% from March 31, 2025, to June 30, 2025, coinciding with the reduction in shareholder accounts [1] Financial Metrics - As of June 30, 2025, Tianjian Group's average shareholding per account increased to 44,600 shares from 44,000 shares as of March 31, 2025 [2] - The net outflow of main funds for Tianjian Group was 22.24 million yuan, while retail funds saw a net inflow of 12.75 million yuan during the same period [2] - The average shareholding value and number of accounts for Tianjian Group have been consistently lower than the industry averages over the past quarters [2]

Core Insights - Tianjian Group (000090.SZ) reported a total operating revenue of 6.262 billion yuan for the first half of 2025, an increase of 393 million yuan or 6.69% year-on-year [1] - The company's net profit attributable to shareholders decreased to 41.4237 million yuan, down 205 million yuan or 83.22% compared to the same period last year [1] - The net cash flow from operating activities was -980 million yuan, a decrease of 497 million yuan from the same period last year [1] Financial Performance - The latest debt-to-asset ratio is 75.52%, a decrease of 0.19 percentage points from the previous quarter and a decrease of 2.83 percentage points year-on-year [3] - The latest gross profit margin is 11.08%, down 2.33 percentage points from the previous quarter and down 5.54 percentage points year-on-year [3] - The latest return on equity (ROE) is 0.29%, a decrease of 1.44 percentage points year-on-year [3] - The diluted earnings per share are 0.01 yuan, a decrease of 0.11 yuan or 93.77% year-on-year [3] Efficiency Metrics - The latest total asset turnover ratio is 0.10 times, an increase of 0.02 times year-on-year [3] - The latest inventory turnover ratio is 0.25 times, an increase of 0.06 times year-on-year [3] Shareholder Structure - The number of shareholders is 41,900, with the top ten shareholders holding 833 million shares, accounting for 44.58% of the total share capital [3] - The largest shareholder is Shenzhen Special Zone Construction Group Co., Ltd. with a holding of 23.4% [3]

Core Viewpoint - The company reported a mixed performance in its various business segments for the first half of 2025, with a focus on adapting to market changes and enhancing operational efficiency amid a challenging economic environment [5][9][30]. Group 1: Economic and Industry Environment - In the first half of 2025, China's GDP grew by 5.3%, indicating resilience in the face of external pressures [5]. - The construction industry faced challenges, with total output value at 136,745 billion yuan and real estate investment down by 11.2% year-on-year [5]. - The central government's urbanization strategy is shifting towards quality improvement and urban renewal, impacting the company's business direction [5]. Group 2: Company Business Overview - The company operates in three main segments: urban construction, comprehensive development, and urban services [6][8]. - Urban construction includes infrastructure projects such as roads, bridges, and tunnels, with a focus on enhancing construction quality through technology [7]. - Comprehensive development has seen a significant increase in sales revenue, up by 60.75% to 23.49 billion yuan, driven by strategic project management [9][10]. - Urban services have expanded, with a revenue increase of 1.62% to 8.93 billion yuan, focusing on smart city initiatives and infrastructure maintenance [11]. Group 3: Financial Performance - Urban construction revenue decreased by 15.94% to 38.03 billion yuan, reflecting market challenges [9]. - The company has 249 ongoing projects with a remaining contract value of 216.76 billion yuan, indicating a robust project pipeline [13]. - The company reported a total of 69 announcements on designated websites by June 30, 2025, ensuring transparency and timely information disclosure [27]. Group 4: Strategic Initiatives - The company is implementing a strategic plan for the "14th Five-Year Plan" period, focusing on enhancing management and operational efficiency [12]. - It is actively exploring new business models and expanding its market presence in key regions such as the Greater Bay Area and Yangtze River Delta [19]. - The company is committed to improving its governance structure and investor relations, ensuring effective communication and engagement with stakeholders [31][35].