证券代码：000652 证券简称：泰达股份 公告编号：2025-92 天津泰达资源循环集团股份有限公司 关于参加 2025 年天津辖区上市公司投资者网上集体接待日活动 的公告 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。 为进一步加强与投资者的互动交流，天津泰达资源循环集团股份有限公司 （以下简称"公司"）将参加由天津证监局指导、天津上市公司协会及深圳市全 景网络有限公司联合举办的"2025 年天津辖区上市公司投资者网上集体接待日 活动"，现将有关事项公告如下： 届时公司董事长、独立董事、财务总监和董事会秘书（具体以当天参会人员 为准）将在线就公司 2025 半年度业绩、公司治理、发展战略、经营状况等投资 者关心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告！ 天津泰达资源循环集团股份有限公司 董 事 会 2025 年 9 月 3 日 1 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景路演 APP，参与本次互动交流。活动时间为 2025 ...

Market Overview - The Shanghai Composite Index rose by 0.37% on August 29, with 17 industries experiencing gains, led by the comprehensive and electrical equipment sectors, which increased by 3.86% and 3.12% respectively [1] - The industries with the largest declines were household appliances and transportation, which fell by 1.82% and 1.69% respectively [1] Capital Flow Analysis - The net outflow of capital from the two markets was 69.47 billion yuan, with 7 industries seeing net inflows [1] - The electrical equipment sector had the highest net inflow of capital, amounting to 3.12% increase and a net inflow of 3.13 billion yuan [1] - The food and beverage sector also saw a positive performance with a 2.42% increase and a net inflow of 1.63 billion yuan [1] - A total of 24 industries experienced net capital outflows, with the computer sector leading with a net outflow of 17.30 billion yuan, followed by the electronics sector with 13.11 billion yuan [1] Comprehensive Sector Performance - The comprehensive sector increased by 3.86% with a net inflow of 162 million yuan, comprising 16 stocks, of which 6 rose and 1 hit the daily limit [2] - The top stocks in terms of net capital inflow within the comprehensive sector included Dongyangguang with 173 million yuan, followed by Yuegui Co. and Zhangzhou Development with 42.66 million yuan and 38.25 million yuan respectively [2] - The stocks with the largest net outflows included Zongyi Co., Nanjing Xinbai, and Taida Co., with outflows of 37.67 million yuan, 23.86 million yuan, and 14.37 million yuan respectively [2] Comprehensive Sector Capital Flow Ranking - The top stocks in the comprehensive sector based on today's performance and capital flow are as follows: - Dongyangguang: +9.99%, 35.9% turnover, 172.82 million yuan inflow - Yuegui Co.: +4.07%, 13.45% turnover, 42.66 million yuan inflow - Zhangzhou Development: +1.85%, 5.89% turnover, 38.25 million yuan inflow - Zhejiang Agricultural Co.: +3.93%, 4.33% turnover, 15.68 million yuan inflow - Sanmu Group: -1.77%, 3.71% turnover, 4.32 million yuan outflow [2]

Core Viewpoint - The financial performance of Teda Co., Ltd. shows a significant decline in revenue and net profit for the first half of 2025 compared to the previous year, raising concerns about the company's operational efficiency and financial health [1][3]. Financial Performance Summary - Total revenue for the first half of 2025 was 8.781 billion yuan, a decrease of 13.14% year-on-year [1]. - Net profit attributable to shareholders was 65.43 million yuan, down 33.90% from the previous year [1]. - The gross profit margin improved to 4.08%, an increase of 22.08% year-on-year, while the net profit margin fell to 0.04%, a decrease of 83.04% [1]. - The company reported a significant increase in accounts receivable, which reached 11.344 billion yuan, up 19.62% year-on-year, indicating potential liquidity issues [1][3]. - Total liabilities with interest increased to 25.636 billion yuan, an 8.41% rise compared to the previous year [1]. Operational Insights - Teda Environmental processed 2.5819 million tons of municipal waste in the first half of 2025, a year-on-year increase of 13.15% [4]. - The company is focusing on a "waste-to-energy" model and diversifying its operations to enhance profitability and operational efficiency [4][15]. - The company is exploring new business avenues such as biogas hydrogen production, although it is still in the research phase without pilot projects [5][6]. Debt and Cash Flow Analysis - The company's cash flow situation is concerning, with cash assets only covering 12.87% of current liabilities [3]. - Financial expenses are high, with financial costs reaching 318.22% of the average operating cash flow over the past three years [3]. - The accounts receivable to profit ratio is alarmingly high at 9941.39%, indicating potential collection issues [3]. Strategic Initiatives - The company plans to invest approximately 870.47 million yuan in environmental projects, including waste incineration and resource recycling, as part of its strategic focus on high-quality development [16]. - Teda is actively pursuing international expansion opportunities, particularly in North Africa and Southeast Asia, leveraging the Belt and Road Initiative [17]. - The company has successfully issued green bonds to support its projects, with a recent issuance of 527 million yuan for carbon-neutral initiatives [18].

Market Overview - On August 28, the comprehensive sector rose by 0.92% compared to the previous trading day, with Dongyangguang leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Stock Performance - Dongyangguang (600673) closed at 20.43, with a gain of 2.61% and a trading volume of 791,200 shares, amounting to a transaction value of 1.59 billion [1] - Yatai Group (600881) closed at 2.07, up 1.47%, with a trading volume of 1,560,300 shares and a transaction value of 320 million [1] - Zongyi Co. (600770) closed at 6.26, up 1.46%, with a trading volume of 833,300 shares and a transaction value of 520 million [1] - Other notable stocks include Te Li A (000025) at 17.64 (+0.40%), and Hongmian Co. (000523) at 3.29 (+0.30%) [1] Capital Flow - The comprehensive sector experienced a net outflow of 364 million from institutional funds, while retail funds saw a net inflow of 209 million [2] - The net inflow from speculative funds was 155 million [2] Individual Stock Capital Flow - Yatai Group saw a net inflow of 24.71 million from institutional funds, while it experienced a net outflow of 22.78 million from speculative funds [3] - Hongmian Co. had a net inflow of 2.50 million from institutional funds and a net inflow of 3.64 million from speculative funds [3] - Shanghai Sanmao (600689) experienced a net outflow of 4.56 million from institutional funds, but a net inflow of 1.68 million from retail investors [3]

Financial Performance - The company's total revenue for the first half of 2025 was 8.781 billion yuan, a decrease of 13.14% year-on-year [1] - The net profit attributable to shareholders was 65.43 million yuan, down 33.90% year-on-year [1] - The gross profit margin increased to 4.08%, up 22.08% year-on-year, while the net profit margin dropped to 0.04%, down 83.04% year-on-year [1] - The company's accounts receivable reached 11.344 billion yuan, an increase of 19.62% year-on-year, with accounts receivable accounting for 9941.39% of net profit [1][4] Business Evaluation - The company's return on invested capital (ROIC) for the previous year was 1.64%, indicating historically weak capital returns [2] - The net profit margin for the previous year was -1.07%, suggesting low added value in products or services [2] Debt and Cash Flow - The company has a healthy cash asset position, but cash flow ratios indicate potential concerns [3][4] - The interest-bearing debt ratio has reached 46.36%, and the total interest-bearing debt to average operating cash flow ratio is 99.72% [4] Environmental Business Operations - In 2024, the company processed 4.8498 million tons of municipal waste, a year-on-year increase of 14.61% [5] - For the first half of 2025, the company processed 258.19 thousand tons of municipal waste, a year-on-year increase of 13.15% [5] - The company is focusing on the "incineration+" model to enhance waste management and energy recovery [16] Product Lines and Market Position - The company operates in the ecological and environmental protection industry, with subsidiaries involved in waste management and clean energy [9][10] - The company has a competitive advantage in high-end products through unique raw material formulations and proprietary technologies [11] Future Investments and Projects - The company plans to invest in waste incineration power generation, solid waste projects, and renewable energy in 2025, with a total investment budget of approximately 870.47 million yuan [17] - The company is actively exploring overseas markets, particularly in North Africa and Southeast Asia, leveraging the "Belt and Road" initiative [18] Financing Activities - The company successfully issued 527 million yuan in green asset-backed securities in November 2024 and plans to issue 560 million yuan in 2025 for debt repayment and liquidity [19]

Group 1: Operational Performance - In 2024, Tianjin TEDA Environmental Protection processed 4.8498 million tons of municipal waste, a year-on-year increase of 61.82% [2] - The electricity generated was 1.64 billion kWh, up by 13.65% compared to the previous year [2] - For the first half of 2025, the company processed 2.5819 million tons of municipal waste, a 13.15% increase year-on-year [3] - The revenue for the first half of 2025 reached 639 million yuan, with a net profit of 85 million yuan [3] Group 2: Business Development and Strategy - The company is focusing on the "incineration+" model to enhance solid waste disposal and energy generation [3] - Research is ongoing for biogas hydrogen production, but no pilot projects or commercialization timelines have been established yet [3] - The company aims to diversify its business model in response to new PPP regulations, emphasizing collaboration with industrial partners [4] Group 3: Product Lines and Market Position - TEDA Environmental Protection's main business includes waste management and environmental services, with subsidiaries focusing on manufacturing high-end materials [3] - The market share for high-end melt-blown products is approximately 2%, with a focus on high-temperature resistant materials and liquid filtration [4] - The company is actively working on import substitution for high-end filtration materials, achieving breakthroughs in technology [4] Group 4: Financial and Investment Outlook - The total investment for new projects in the ecological and environmental sector for 2025 is projected at 870.47 million yuan [5] - The company plans to issue green asset-backed securities to raise funds for operational and project financing [5] - The focus for 2025 includes investments in waste-to-energy projects, solid waste acquisitions, and new material development [5]

Market Overview - The Shanghai Composite Index fell by 1.76% on August 27, with only one industry, telecommunications, showing an increase of 1.66% [1] - The sectors with the largest declines were beauty care and real estate, down 3.86% and 3.51% respectively [1] Capital Flow - There was a net outflow of 129.75 billion yuan from the main funds in the two markets, with all sectors under Shenwan experiencing net outflows [1] - The computer industry had the largest net outflow, totaling 16.31 billion yuan, followed by the pharmaceutical and biological sector with a net outflow of 12.32 billion yuan [1] Comprehensive Industry Performance - The comprehensive industry dropped by 3.14%, with a net outflow of 428 million yuan, and 15 out of 16 stocks in this sector declined [1] - The top three stocks with the largest net outflows included Dongyangguang, Yuegui, and Nanjing Xinbai, with outflows of 144.91 million yuan, 73.73 million yuan, and 53.51 million yuan respectively [1] Stock Performance - The stock performance table indicates that Dongyangguang had a decline of 3.21% with a turnover rate of 2.68% and a net outflow of 144.91 million yuan [1] - Tianchen Co. was the only stock in the comprehensive industry to maintain a stable price, with a net inflow of 17.58 million yuan [1]

天津泰达资源循环集团股份有限公司 2025 年半年度财务报告 天津泰达资源循环集团股份有限公司 2025 年半年度财务报告 天津泰达资源循环集团股份有限公司 2025 年半年度财务报告 1 天津泰达资源循环集团股份有限公司 2025 年半年度财务报告 | 编制单位:天津泰达资源推荐集团股份有限公司 | | | | 会就单位:人民币元 | | --- | --- | --- | --- | --- | | | 一项公司 | 注释 | 期末余题 | 上年年末会議 | | 灌动负债; | | | | | | 短期借款 | | 5.23 | 10,857,077,227,52 | 9,485,898,148.03 | | 交易性金融负债 | | | | | | 制生含融负债 | | | | | | 图付费指 | | 5.24 | 3.922.889,281.17 | 3.943.028.512.45 | | 应付账款 | | 5.29 | 1,859,854,596.87 | 2,145,828,453.17 | | 原收款项 | | 5.26 | 2,610,698,662.00 | 8,629,506.28 | ...

公司营业总收入为87.81亿元，在已披露的同业公司中排名第1，较去年同报告期营业总收入减少13.29亿元，同比较去年同期下降13.14%。归母净利润为 6543.09万元，在已披露的同业公司中排名第3，较去年同报告期归母净利润减少3355.91万元，同比较去年同期下降33.90%。经营活动现金净流入为285.95万 元，在已披露的同业公司中排名第7，较去年同报告期经营活动现金净流入减少912.45万元，同比较去年同期下降76.14%。 2025年8月27日，泰达股份(000652.SZ)发布2025年中报。 公司摊薄每股收益为0.04元，在已披露的同业公司中排名第5，较去年同报告期摊薄每股收益减少0.02元，同比较去年同期下降33.98%。 公司最新总资产周转率为0.19次，在已披露的同业公司中排名第4，较去年同期总资产周转率减少0.05次，同比较去年同期下降20.73%。最新存货周转率为 0.69次，在已披露的同业公司中排名第6，较去年同期存货周转率减少0.12次，同比较去年同期下降14.92%。 公司股东户数为9.17万户，前十大股东持股数量为5.82亿股，占总股本比例为39.42%，前十大股东持股情况如 ...

Group 1 - The core viewpoint of the article highlights the financial performance and business structure of Teda Co., Ltd. for the first half of 2025, as well as the company's recent board meeting [1] - Teda Co., Ltd. reported a revenue composition for the first half of 2025, with wholesale accounting for 89.05%, environmental management for 9.89%, construction for 0.44%, textile and apparel for 0.37%, and real estate for 0.26% [1] - As of the report, Teda Co., Ltd. has a market capitalization of 6.9 billion yuan [1] Group 2 - The article also mentions the booming pet industry, valued at 300 billion yuan, indicating a significant growth opportunity for related companies [1] - The news suggests that companies in the pet industry are experiencing a surge in stock prices, reflecting positive market sentiment [1]