天茂实业集团股份有限公司 董事会议事规则 第一章 总 则 第一条 为了便于天茂实业集团股份有限公司（以下简称公司）董事会依法行 使职权，规范董事会成员的议事行为，提高议事效率，确保董事会的工作效率和科 学决策，根据《公司法》和公司章程的有关规定，结合董事会的工作实际，制定本 规则。 第四条 董事会成员必须依法在其职责范围内谨慎、认真、勤勉地行使公司所 赋予的权利，忠实履行职责。以保证公司的商业行为符合国家的法律、行政法规以 及国家各项经济政策的要求，商业活动不超越营业执照规定的业务范围；公平对待 所有股东；认真阅读上市公司的各项商务、财务报告，及时了解公司业务经营管理 状况；亲自行使被合法赋予的公司管理处置权，不得受他人操纵，非经法律、行政 法规允许或者得到股东会在知情的情况下批准，不得将其处置权转授他人行使；接 受审计委员会对其履行职责的合法监督和合理建议。 第二条 董事会是公司的常设议事机构，负责审议公司的一切重大事项，执行 股东会决议，对股东会负责。 第三条 董事会审议议案、决定事项时，必须遵守国家有关法律、法规及公司 章程的规定。董事会具体的议事程序为：会议通知、召开会议、提出议案、议案的 审议、议案 ...

天茂实业集团股份有限公司 公司章程 目 录 第六章 高级管理人员 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 股东和股东会 第一节 股东 第二节 控股股东和实际控制人 第三节 股东会的一般规定 第四节 股东会的召集 第五节 股东会的提案与通知 第六节 股东会的召开 第七节 股东会的表决和决议 第五章 董事和董事会 第一节 董事 第二节 董事会 第三节 独立董事 第四节 董事会专门委员会 第七章 财务会计制度、利润分配和审计 第一节 财务会计制度 第八章 通知和公告 2 第二节 内部审计 第三节 会计师事务所的聘任 第一节 通知 第二节 公告 第九章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十章 修改章程 第十一章 附则 第一章 总则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组 织和行为，根据《中华人民共和国公司法》（以下简称《公司法》）、《中 华人民共和国证券法》（以下简称《证券法》）和其他有关规定，制订本章 程。 第二条 公司系依照《公司法》、《证券法》和其他有关 ...

天茂实业集团股份有限公司 股东会议事规则 第一章 总则 第一条 为规范天茂实业集团股份有限公司（以下简称"公司"）行为，保证股东会 依法行使职权，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）等法律、法规和《天茂实业 集团股份有限公司章程》（以下简称"《公司章程》"）的规定，制定本规则。 第二条 公司股东会的召集、提案、通知、召开等事项适用本规则。 公司应当严格按照法律、行政法规、《公司章程》及本议事规则的相关规定召开股东 会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应当勤勉尽责， 确保股东会正常召开和依法行使职权。 第三条 股东会应当在《公司法》和公司章程规定的范围内行使职权。 第四条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次，应当于上 一会计年度结束后的六个月内举行。临时股东会不定期召开，出现《公司法》第一百一十 三条规定的应当召开临时股东会的情形时，临时股东会应当在两个月内召开。 第五条 公司召开股东会，应当聘请律师对以下问题出具法律意见并公告： （一）会议的召集、召开程序是否 ...

Core Viewpoint - The A-share market is experiencing an accelerated pace of delisting, with a significant increase in companies being warned or forced to delist due to various regulatory standards and stricter enforcement of delisting policies [1][2][3][4]. Group 1: Delisting Risks and Statistics - *ST Tianmao issued its fourth risk warning regarding potential delisting due to failure to disclose its 2024 annual report and 2025 quarterly report within the stipulated timeframe [1]. - As of August 7, 2023, 23 A-share companies have been delisted this year, with 8 due to trading-related delisting (e.g., stock price below par), 7 for compliance issues, and 3 for voluntary delisting [1][2]. - The number of delisted companies has significantly increased since 2019, with 212 companies delisted from 2019 to the present, surpassing the total from the previous 20 years [2]. Group 2: Regulatory Changes and Impact - The introduction of the "New National Nine Articles" in April 2022 has led to stricter enforcement of delisting standards, particularly for companies involved in serious violations [3][4]. - The revised stock listing rules have raised the revenue threshold for financial delisting from 1 billion to 3 billion yuan, indicating a tightening of financial health requirements for listed companies [4]. - As of now, 107 companies are under delisting risk warnings due to financial issues, and 118 companies face compliance-related delisting risks [4][5]. Group 3: Market Dynamics and Future Outlook - The trend towards a normalized delisting mechanism is expected to continue, with a focus on improving investor protection and eliminating the expectation of "shell value" [1][4]. - The new regulations are anticipated to accelerate the exit of loss-making companies from the capital market, thereby promoting structural reforms in the supply side of the economy [5].

Core Viewpoint - *ST Tianmao is likely planning to voluntarily delist due to ongoing financial difficulties and regulatory pressures, following a series of failures to disclose financial reports on time [1][4]. Group 1: Company Background - *ST Tianmao, originally named Baike Pharmaceutical, was established in 1993 and is controlled by Liu Yiqian through New Liyi Group [3]. - The company primarily engages in life insurance and insurance intermediary services through its subsidiaries, Guohua Life and Huarui Insurance [3]. - As of the end of Q3 2024, *ST Tianmao's total assets were approximately 285.2 billion yuan, with Liu Yiqian and his spouse holding a combined 66.28% of the shares [3]. Group 2: Financial Performance - The company projected a revenue of 40 billion to 43 billion yuan for 2024, with expected losses ranging from 500 million to 750 million yuan [3]. - The losses are attributed to a declining interest rate environment, which has led to increased reserve provisions for Guohua Life, resulting in consecutive years of losses [3]. Group 3: Regulatory Issues - The company has faced regulatory scrutiny, including an investigation by the China Securities Regulatory Commission for failing to disclose financial reports on time [2][4]. - Following the failure to disclose the 2024 annual report and the 2025 Q1 report, *ST Tianmao's stock was subject to a delisting risk warning [2][4]. Group 4: Market Reaction and Strategic Considerations - Since the implementation of the delisting risk warning, *ST Tianmao's stock price has dropped over 47%, closing at 1.45 yuan per share, with a total market capitalization of 7.111 billion yuan as of August 6 [4]. - The potential voluntary delisting may be a strategic move to mitigate further losses and legal liabilities, as the company faces increasing operational challenges and regulatory pressures [4].

Group 1 - Tianeng Heavy Industry plans to reduce its shareholding by up to 2.94%, totaling no more than 30.08 million shares [1] - Huafa Co. has received approval from the China Securities Regulatory Commission to issue convertible bonds to specific investors [1] - ST Jiaotou has been identified as the first candidate for the general contracting of a project with a total investment of 58.28 million yuan [1] Group 2 - Pizaihuang's subsidiary plans to invest 200 million yuan in a health industry investment fund with a target size of 1 billion yuan [2] - ST Weihai has been selected as a candidate for a design and construction project with a bid of 156 million yuan [4] - Kangqiang Electronics plans to reduce its shareholding by up to 1%, totaling no more than 3.75 million shares [6] Group 3 - Zongsheng Pharmaceutical's vice president plans to reduce his shareholding by up to 900,000 shares [6] - Tapai Group reported a net profit of 435 million yuan for the first half of the year, a year-on-year increase of 92.47% [7] - Tapai Group plans to repurchase shares worth between 50 million and 100 million yuan [7] Group 4 - Xinghua Co.'s subsidiary has completed annual maintenance and resumed production [8] - Huaxi Co. intends to acquire 100% equity of Xiefeng Cotton and Hemp for 90 million yuan [9] - Mind Electronics' major shareholders plan to reduce their holdings by a total of 4% [10] Group 5 - Tianhe Co.'s director plans to reduce his shareholding by up to 0.15% [11] - Longxin Zhongke's shareholders plan to transfer a total of 1.37% of the company's shares through a private transfer [12] - Kory Technology's major shareholders plan to reduce their holdings by up to 3.03% [13] Group 6 - Hehua Co. is undergoing a change in actual control, with stock resuming trading [14] - Focus Media plans to acquire 100% of New潮传媒 for 8.3 billion yuan [15] - Lionhead Co. intends to acquire 97.44% of Lipu Technology for 662 million yuan [16] Group 7 - ST Tianmao's major shareholder is planning a significant matter, leading to a temporary suspension of stock trading [18] - Lianjian Technology plans to acquire 60% of Zhongren Tongce for 21 million yuan [19]

中国经济网北京8月7日讯*ST天茂（000627）(000627.SZ)昨晚发布关于筹划重大事项停牌的公告。天茂 实业集团股份有限公司(以下简称"公司")于2025年8月6日收到公司控股股东新理益集团有限公司(以下简 称"新理益")《关于筹划重大事项申请股票停牌的函》，新理益正在筹划与公司相关的重大事项。 鉴于上述事项尚存在重大不确定性，为维护中小股东利益，避免造成公司股价异常波动，根据《深圳证 券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第6号——停复牌》等有关规定，经 公司向深圳证券交易所申请，公司股票(股票简称：*ST天茂，股票代码：000627)自2025年8月7日(星期 四)开市起停牌，预计停牌时间不超过2个交易日。 ...

Market Overview - On August 6, the A-share market experienced a slight upward trend with the Shanghai Composite Index rising by 0.45% to 3633.99 points, the Shenzhen Component Index increasing by 0.64% to 11177.78 points, and the ChiNext Index gaining 0.66% to 2358.95 points. The total trading volume reached 1.73 trillion yuan, an increase of 138 billion yuan compared to the previous trading day [2] - The U.S. stock market also saw gains on August 6, with the Dow Jones Industrial Average up by 0.18% to 44193.12 points, the S&P 500 rising by 0.73% to 6345.06 points, and the Nasdaq Composite increasing by 1.21% to 21169.42 points [2][5] - European stock indices all closed higher on August 6, with the FTSE 100 up by 0.24%, the CAC 40 up by 0.18%, and the DAX up by 0.33% [3][4] Sector Performance - In the A-share market, sectors such as PEEK materials, humanoid robots, and photolithography machines showed significant gains, while traditional Chinese medicine, tourism, and innovative pharmaceuticals faced declines [2] - The main sectors with net inflows included general equipment, automotive parts, and specialized equipment, while the chemical pharmaceuticals sector experienced the largest net outflow [12] Company News - Li Auto, China Automotive Technology and Research Center, and Dongfeng Liuzhou Motor reached a consensus regarding the Li Auto i8 collision test incident, emphasizing the importance of maintaining integrity and avoiding unfair competition in the automotive industry [6] - Biogen announced an expected revenue range of 35.8 billion to 38.1 billion yuan for 2025 [11] - SINO Medical's subsidiary received breakthrough medical device designation from the FDA for a product treating intracranial atherosclerosis, marking a significant milestone [11] Policy and Development Initiatives - The State Grid reported a record high electricity load of 1.233 billion kilowatts from August 4 to 6, reflecting a significant increase from last year's peak [7] - The Shanghai government released a plan to develop the embodied intelligence industry, aiming for a core industry scale of over 50 billion yuan by 2027 [8]

Group 1: Company News - *ST Tianmao announced that its controlling shareholder is planning significant matters related to the company, leading to a stock suspension starting August 7, expected to last no more than 2 trading days [6] - *ST Yazhen's stock will be suspended from trading starting August 7 due to abnormal price fluctuations, with a cumulative increase of 33.92% from July 30 to August 6 [6][7] - Xianhe Co. plans to invest approximately 11 billion yuan in a new integrated high-performance paper-based material project in Sichuan, with an expected annual output value of about 5.15 billion yuan after the first phase [6] - Hehua Co. announced a change in its actual controller due to the transfer of 100% equity of its controlling shareholder, with a total transaction price of 692 million yuan [8] - Fenzhong Media intends to acquire 100% equity of New潮传媒 for 8.3 billion yuan, which will become a wholly-owned subsidiary [8] Group 2: Industry News - The People's Bank of China has 283.2 billion yuan of 7-day reverse repos maturing today, indicating ongoing liquidity management in the financial market [2] - The National Development and Reform Commission and the National Energy Administration have issued basic rules for electricity market measurement and settlement, effective from October 1, marking a significant step towards a unified national electricity market [2] - The China Photovoltaic Industry Association is soliciting opinions on the draft amendment to the Price Law, focusing on price behavior norms and regulatory mechanisms [3]

Core Viewpoint - *ST Tianmao is facing a potential delisting crisis but has announced a significant matter being planned by its controlling shareholder, Xinliyi Group, which may provide a new opportunity for the company [1][3]. Group 1: Company Situation - *ST Tianmao has received a notice from Xinliyi regarding the planning of a significant matter, leading to a temporary suspension of its stock trading starting August 7, with an expected duration of no more than two trading days [3]. - The company is currently in a delisting crisis due to its failure to disclose the 2024 annual report and the 2025 first-quarter report within the legal deadlines, resulting in a delisting risk warning implemented on July 8 [3]. - As of August 6, *ST Tianmao has not yet disclosed its financial reports, but it claims that normal operations are ongoing and that it is working to complete the necessary reports [3]. Group 2: Financial Performance - *ST Tianmao, as an investment holding company, primarily engages in insurance business through its subsidiaries, Guohua Life and Huarui Insurance, with Guohua Life being a nationwide life insurance company [4]. - As of June 30 of the previous year, Guohua Life had total assets of 271.599 billion and net assets of 26.22 billion, operating 111 branches across the country [4]. - Since July 8, *ST Tianmao's stock has dropped over 40%, currently priced at 1.45 per share, with a total market value of 7.1 billion [4]. - Recently, the stock has shown signs of recovery, with a rare two-day increase of over 4% [4].